Opportunities for automotive wiring harness to reach $54.2 billion by 2021

According to a new market report published by Lucintel, the future of the global automotive wiring harness market looks promising with opportunities in the passenger car and commercial vehicle. The global automotive wiring harness market is expected to reach an estimated $54.2 billion by 2021. The global automotive wiring harness market is forecast to grow at a CAGR of 6.3% from 2016 to 2021. The major drivers of growth for this market are increasing vehicle production and increasing content of electronic technology in vehicles.
In this market, chassis, engine, body, speed sensor, and HVAC are the market segments by application type. On the basis of vehicle type, the market is segmented into passenger car (small car, medium car and large car), light commercial vehicle, and others. On the basis of its comprehensive research, Lucintel forecasts that the engine application is expected to show above average growth during the forecast period.
Within the global automotive wiring harness market, the copper segment is expected to remain the largest market. Increase in demand for hybrid and electric vehicles is the major factor that would spur growth for this segment over the forecast period.
APAC is expected to remain the largest region due to high vehicle production and increasing government mandates relating to safety features of vehicle.
Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of aluminum wiring harness in vehicles in developing countries to follow government regulations on carbon emission reduction and increase in fuel efficiency.
For business expansion, Lucintel’s report suggests innovation and new product development to ensure transmission of equal power to different electronic modules in a vehicle. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.

Emerging trends which have a direct impact on the dynamics of the industry include introduction of high voltage wiring harness system in electric vehicles and development of recycling of wiring harness system. Yazaki Corporation, Sumito Electric Industries Ltd., Delphi Corporation, Leoni Group, and Lear Corporation are the major wiring harness suppliers in the global automotive wiring harness market. Several companies are seeking mergers and acquisitions as strategic initiatives to drive growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive wiring harness market by application, type, vehicle type and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Wiring Harness Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global automotive wiring harness market by application, type, vehicle type and region, as follows:
By Application [$ billion from 2010 to 2021]:
• Chassis Wiring Harness
• Body Wiring Harness
• HVAC Wiring Harness
• Engine Wiring Harness
• Speed Sensor Wiring Harness

By Type [$ billion from 2010 to 2021]:
• Copper
• Aluminum
• Other

By Vehicle Type [$ billion from 2010 to 2021]:
• Passenger Car
– Small Car
– Medium Car
– Large Car
• Commercial Vehicle
• Other

By region [$ billion from 2010 to 2021]:
• North America
• Europe
• Asia Pacific
• Rest of the World

This 171-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, SWOT Matrix, Due Diligence and Mergers & Acquisitions.

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
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This release was published on openPR.