Global Automotive Wires Market Expanding at a CAGR of 6.0% in 2017- 2027

A new report added to the repository of Market Research Reports Search Engine “Automotive Wires Market: Conventional Fuel Vehicle Type to Hold Highest Market Value Share throughout the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)” is a comprehensive repository of information, providing market share, size, and forecast.

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The global automotive wires market is consolidated with Asia Pacific & accounting for dominant share both in terms of production and consumption of Automotive Wires. Automotive Wires in bulk quantities are exported to other regions mainly Middle East, Africa, and Latin America. There are a few large players with global presence such as Sumitomo electric, Yazaki Corporation, Delphi Automotive PLC, Leoni automotive Plc are having manufacturing facilities and sales offices across various parts of the globe. Japan based players like Fujikura, Furukawa and many others have sizeable share in production capacity. Individual players operating in automotive wire market operating in automotive wire market are considering their production capacities and/or quantities produced and the weighted average prices.

Automotive Wires Market: Relevance and Impact

Increasing demand for vehicles is expected to affect the automotive wire market with high impact. Increase in global economy will provide better growth opportunities for automotive wire manufacturers. Growing demand for conventional fuel vehicles will highly impact the automotive wire market. Apart from these impacts, government regulatory mandates for safety and vehicle design will also affect the automotive market with medium impact. Changing consumer preference is expected to have medium impact over the automotive wire market. In order to reduce the vehicle weight for fuel efficiency, the ICE downsizing method is expected to have medium impact on the market

The conventional fuel vehicle segment generated US$ 9,168.7 Mn in sales in 2016

In vehicle type segment, the sales of automotive wires through Conventional fuel vehicle segment is expected to reach US$ 9,364.4 Mn and hold 98.5% value share. A majority of the sales is generated through passenger vehicle segment, which is almost 76% of the overall conventional fuel vehicle segment's sale. The electric & hybrid vehicle segment accounted for a low rate of automotive wires sales in 2016. The electric vehicle and hybrid vehicle segments are expected to show immense growth during the forecast period and are expected to grow with 21.8% and 19.3 % CAGRs respectively.

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Asia Pacific Excluding Japan is a key growth region in the global automotive wires market

Increasing investments in Asia Pacific region are anticipated to gain traction over the forecast period. Reduction in tax rates will attract new establishments and industries, which in turn, will fuel the growth of the APEJ Automotive wire market. More than 50% of the global automotive wire capacity is based in the APEJ region (China, India and ASEAN). Growing demand for wiring solutions for automotive applications, such as chassis & safety and body is expected to propel the demand for automotive wires in the APEJ region during the forecast period. Moreover, manufacturing expansion by major players will also fuel automotive wire growth within the region.

Focus on novel product offerings is trending the global automotive wires market

Most of the wire & cable manufacturers are focusing on new product development for wire & cable solution in the automotive segment. Copper still remains the major conductor material and still dominant as a material of choice with improved conductivity and mechanical strength. Manufacturer’s major focus is increasing the usage of Copper magnesium and pure copper (Oxygen Free) as a conductor material in the wiring solutions due to their improved characteristics and attributes. Major OEMs are reducing the vehicle weight in order to reduce carbon emission and to increase fuel efficiency. Similarly, major wire manufactures have increased the adoption of aluminium as a conductor material in the automotive wiring solutions.

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