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Automotive Wiring Harness Market Report (2024-2033), Business Plan Strategy, New Solutions, Key Segments, Potential Targets and Recommendations | Sanyo Denki , Danaher Corporation, Kinco Corporation
Automotive Wiring Harness Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Automotive Wiring Harness industry. This report on Automotive Wiring Harness market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive wiring harness market size has grown strongly in recent years. It will grow from $58.12 billion in 2023 to $61.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to regulatory mandates, rise in passenger car sales, economic growth, government support.
The automotive wiring harness market size is expected to see strong growth in the next few years. It will grow to $75.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to increasing emphasis on vehicle safety, rising vehicle sales, rising connected vehicles, rising urbanization, rising disposable income. Major trends in the forecast period include eco-friendly materials, 5g integration, thermal management, modular and scalable designs, collaboration and partnership.
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Key Market Players:
Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Nexans, DELPHI AUTOMOTIVE LLP, Lear Corporation, SAMVARDHANA MOTHERSON GROUP, Yura Corporation d.o.o., Fujikura Automotive, PKC Group PLC., Coroplast Fritz Muller GmbH & Co. Kg, Motherson Sumi Systems Limited.
Market Drivers:
According to the Automotive Wiring Harness Market Report 2023 by The Business Research Company, the key factors driving the growth of the Automotive Wiring Harness market, includes Technology advancement is the key trend being followed by companies operating in the automotive wiring harness market. Companies are focusing on manufacturing and deploying more compact wiring harnesses that occupy less space.
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Market segments for Automotive Wiring Harness include:
1) By Component Type: Wires, Connectors, Terminals, Other Components
2) By Material Type: Copper, Aluminum, Other Materials
3) By Harness Type: Main Harness, Auxiliary Harness, Other Types
4) By Vehicle Type: Two Wheelers, Passenger Cars, Commercial Vehicles
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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