Automotive Wiring Harness Market by Application (Engine, Dashboard/Cabin, Body & Lighting, HVAC, Battery, Airbag), Propulsion, Vehicle (PC, LCV, Trucks, Buses) Material, Component (Connectors, Wires, Terminals), EV type, and Region
The automotive wiring harness market is estimated to be USD 81.17 Billion in 2018 and is projected to reach USD 120.69 Billion by 2025, at a CAGR of 5.83% from 2018 to 2025. The key growth drivers for the market are the rise in vehicle production and sales, trend of integrating advanced features in the vehicles, and growing demand for electric vehicles.
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The market growth is driven by factors such as a rise in trend of integrating advanced features for improving performance and user driving experience and growing demand for electric vehicles.
The HVAC harness segment is estimated to be the fastest growing market in the Automotive Wiring Harness Market during the forecast period, by application
The HVAC application segment is estimated to witness the highest growth in the Automotive Wiring Harness Market because of the rise in adoption of HVAC application in commercial vehicles such as buses and trucks.
The vehicle manufacturers are now offering comfort & convenience features in LCVs, buses, and trucks, which is driving the growth of HVAC application in Automotive Wiring Harness Market. Also, commercial vehicles require large wiring harnesses due to the long vehicular structure, thereby pushing the demand for wiring harness globally.
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The passenger car segment is estimated to be the largest market in the Automotive Wiring Harness Market during the forecast period, by vehicle type
The passenger car segment is estimated to be the largest segment, by volume as well as value, of the Automotive Wiring Harness Market during the forecast period. The large pool of consumers for the passenger car segment and high demand for safety & luxury features in passenger cars have contributed to the growth of the passenger car segment in the Automotive Wiring Harness Market.
Asia Pacific to be the fastest growing regional market for Automotive Wiring Harness Market
The Asia Pacific is projected to be the fastest growing market for automotive wiring harness during the forecast period. The market growth in the region can be attributed to the rapid growth of the automotive sector in countries such as China, Japan, South Korea, and India.
Moreover, the improved lifestyle of consumers and rapid urbanization have boosted the demand for passenger vehicles, which in turn would trigger the growth of the Automotive Wiring Harness Market in the region.
The key players in the Automotive Wiring Harness Market are Yazaki (Japan), Sumitomo (Japan), Aptiv (UK), Leoni (Germany), Lear (US), Furukawa (Japan), Samvardhana Motherson (India), Nexans (France), Fujikura (Japan), and THB (China).
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