Automotive Wiring Harness Market Emerging Trends, Growth and Business Developments by 2030 | Yazaki Corporation, Leoni AG, Lear Corporation, Fujikura Ltd

As per the report published by The Brainy Insights, the global automotive wiring harness market is expected to grow from USD 45.6 billion in 2021 to USD 67.76 billion by 2030, at a CAGR of 4.5% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global automotive wiring harness market, with a 35.2% share of the market revenue in 2021. Asia Pacific currently dominates the automotive wiring harness market due to an increase in the disposable income of consumers, which has led to a rise in demand for vehicles. Asia-Pacific is expected to rise in the forecast period due to the adoption of new policies by the government, which is encouraging the production and market demand of electric vehicles.

Get more insights from the 230-page market research report @ https://www.thebrainyinsights.com/enquiry/sample-request/12685

The automotive wiring harness market refers to the industry involved in designing, manufacturing, and supplying electrical wiring harnesses for vehicles. Wiring harnesses are bundles of wires and cables that transmit electrical power and signals throughout a vehicle, connecting various electrical components such as the engine, transmission, lighting, sensors, and other electronic systems.

The global automotive wiring harness market is driven by the increasing demand for advanced safety and convenience features in vehicles, such as ADAS (Advanced Driver Assistance Systems), infotainment systems, and electric powertrains. The rise of electric and hybrid vehicles also creates new opportunities for wiring harness manufacturers as these vehicles require specialized wiring harnesses to support their unique powertrain configurations.

Other factors driving the growth of the automotive wiring harness market include the increasing demand for fuel-efficient vehicles, the growing trend towards lightweighting and modularization, and the adoption of high-speed data communication networks in vehicles.

Browse Full Report @ https://www.thebrainyinsights.com/report/automotive-wiring-harness-market-12685

Leading companies in the industry include Yazaki Corporation, Leoni AG, Lear Corporation, Fujikura Ltd, Furukawa Electric Co., Ltd, APTIV PLC, Sumitomo Electric Industries, Ltd., Motherson Sumi Systems, YURA Corporation, and PKC Group Ltd, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The material type segment is divided into copper, aluminum & others. The copper segment dominated the market, with a market share of around 55% in 2021. The component segment is divided into connectors, terminals, wires & others. Over the forecast period, the terminals segment is expected to grow at the fastest CAGR of 5.6%. The application segment is divided into engine harness, chassis wiring harness, body & lighting harness, HVAC harness, dashboard & cabin harness, and other applications. In 2021, the chassis wiring harness segment dominated the market, accounting for around 24% of global revenue. The vehicle use segment can be divided into passenger vehicles & commercial vehicles. The passenger vehicles segment dominated the market in 2021, accounting for around 61% of the market share. The increasing demand for passenger vehicles accompanied by a similar rise in demand for cars with advanced features has contributed to the dominance of this segment in the market.

Increasing concern about climate change has led to a shift in government policies becoming more environment-friendly and sustainable. To reduce carbon emissions, there needs to be a reduction in the number of conventional fossil fuel vehicles on the road. The exhaust from these vehicles increases carbon emissions resulting in temperature rise. Government policies aimed at promoting & encouraging the adoption of electric vehicles by providing subsidies & incentives are driving the sale of electric vehicles globally. Over two years, the sales have doubled; this jump in sales is a positive development for the global automotive wiring harness market. The demand for the wiring harness market is bound to witness a parallel rise.

Custom Requirements can be requested for this report @ https://www.thebrainyinsights.com/enquiry/request-customization/12685

About the report:
The global automotive wiring harness market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

Media Contact
Avinash D
Organization: The Brainy Insights
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com

This release was published on openPR.