South America Wire Harness Market could be worth US$ 3,927.32 million by 2030,says Business Market Insights

The Outh America Wire Harness Market was valued at US$ 791.32 million in 2022 and is expected to reach US$ 1,235.77 million by 2030; it is estimated to grow at a CAGR of 5.7% from 2022 to 2030.

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Competitive Landscape: Outh America Wire Harness Market :

According to Business Market Insights research, the South America wire harness market was valued at US$ 3,927.32 million in 2023 and is expected to reach US$ 4,995.28 million by 2030, registering a CAGR of 3.5% from 2023 to 2030. Growing technological advancements in automobiles and agriculture and technological advancements in food & beverages and agriculture are the critical factors attributed to the South America wire harness market expansion. Automobile manufacturers are implementing various technologies in their upcoming models to stay competitive in the market. Technologies such as automatic high beam control, self-driving, cruise control, and automatic lift gates are highly adopted by automobile companies as buyers are largely lured by attractive design, specifications, quality, and features. Some of the technologically advanced vehicles have approximately 40 wire harnesses comprising ~3,000 wires and around 700 connectors. Wire harnesses are one of the most important components of a vehicle's electrical system. It bundles up to 5 km of cables in an average car. Moreover, in modern vehicles, the majority of components, such as engine, air conditioning, instrumentation, audio speaker, lights, and battery are connected through front, rear, and roof wire harnesses. Owing to the increasing technological advancements, the demand for wire harnesses is growing in the automobile industry. In July 2022, Toyota launched a teaser of its new connected car technology, Toyota i-Connect. Moreover, customers are moving toward electric vehicles (EV), which is also a driving factor for the South America wire harness market. Such factors are propelling the South America wire harness market growth.

DRÄXLMAIER Group
Fujikura Ltd.
FURUKAWA ELECTRIC CO., LTD.
Lear Corporation
LEONI AG
Motherson Sumi Systems Ltd.
Sumitomo Electric Industries, Ltd.
Yazaki Corporation
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Chapter Details of Outh America Wire Harness Market :
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Outh America Wire Harness Market Landscape
Part 04: Outh America Wire Harness Market Sizing
Part 05: Outh America Wire Harness Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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This release was published on openPR.