The global automotive wiring harness market is segmented into application such as body wiring harness, engine wiring harness, chassis wiring harness, HVAC wiring harness and sensors wiring harness. Among these segments, engine wiring harness segment captured the largest segments in overall automotive wiring harness market. Likely, increasing adoption of electric vehicles across the globe is believed to augment the demand for automotive wiring harness. In addition to this, increasing environmental concern regarding carbon emission is also projected to supplement the growth of automotive wiring harness market by 2024.
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Global automotive wiring harness market is envisioned to register a noteworthy CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the global automotive wiring harness market is anticipated to generate notable revenue by the end of 2024.
Additionally, the market of automotive wiring harness is riding on the back of growing advancement in vehicles such as integration of car infotainment system.
The passenger car segment by vehicle type accounted for the largest market of overall automotive wiring harness in 2016.
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Apart from this, electric vehicle segment is believed to be the fastest growing segment during the forecast period. In terms of regional platform, Asia-Pacific region is the leading market of automotive wiring harness due to presence of largest automotive industry.
Moreover, upsurge demand for premium vehicles on the back of swelled disposable income is also fuelling the market of automotive wiring harness. Moreover, China and India are the most prominent countries in this region owing to presence of large manufacturing companies of light and heavy vehicles.
Rising Penetration of Electrical Vehicle
Supportive government initiatives to encourage the adoption of electric vehicles such as Electric Vehicles Initiative (EVI) which is likely to bolster the growth of automotive wiring harness market. Furthermore, increase in demand for high-end electronic and safety features in vehicles has positively fuel the demand for automotive wiring harness.
These factors are believed to bolster the growth of automotive wiring harness market.
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Stringent government regulations regarding CO2 emission and government of numerous countries have mandated the use of certain electronic safety features for instance anti-lock braking system (ABS), electronic stability program (ESP) and other in automobile is projected to flourish the growth of automotive wiring harness market.
Although, growing usage of automotive ethernet by automotive OEMs is predicted to dampen the market of automotive wiring harness globally in near future.
The report titled “Automotive Wiring Harness Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive wiring harness market in terms of market segmentation by application, by vehicle type, by material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive wiring harness market which includes company profiling of Sumitomo electric industries, Lear corporation, Delphi Automotive PLC, Yazaki corporation, Furukawa electric company, Leoni AG, Samvardhana motherson group, PKC group, THB group, Minda Automotive, Yura Corporation, and Kromberg & Schubert. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global automotive wiring harness market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...