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Automotive Wiring Harness
Increasing trend of electrification and vehicle autonomy is driving the market.
WILMINGTON, DELAWARE , UNITED STATES, October 27, 2023 /EINPresswire / -- Transparency
market Research Unveils Comprehensive Analysis of the Global“Automotive Wiring Harness Market”, Covering Vehicle Type, Application, Material Type, Sales Channel, Category, Electric Vehicle Type and Transmission Type. Anticipates the Automotive Wiring Harness
industry to Surge to a Valuation of $86.46 Billion by 2031, Sustaining a Robust CAGR of 7.32%.
The automotive sector experiences ongoing momentum due to advancements in emerging markets, the rapid evolution of technology, digital transformation, automation, and the emergence of disruptive business models.
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The automotive wiring harness market is surging thanks to strong growth in automotive electronics, driven by the rising demand for data processing in vehicles and the adoption of cutting-edge safety technologies. Additionally, the increasing advancements in electric vehicles are contributing to the heightened complexity of automotive wiring harnesses.
The surge in electric vehicle (EV) adoption and the growing need for enhanced in-vehicle power transmission are key drivers of the wiring harness market. With an increasing number of accidents linked to high-power electric equipment failures in EVs, automotive wiring harness manufacturers are now focusing on the development of heat-resistant and lightweight materials for wiring harness applications. This strategy aims to not only enhance safety but also expand their global customer base, ultimately boosting revenues.
Increase in Wiring Content Per Vehicle to Boost Global Automotive Wiring Harness Market
. Governments across the globe are promoting the adoption of electric vehicles by offering subsidies and tax relaxations. Rising tailpipe emissions and awareness about the environment is fueling the demand for electric vehicles. Use of automotive electric harness improves fuel efficiency and enhances performance. Application of internet and digitization has been increasing in automobiles, which has fueled the demand for automotive wire harness connectors and terminals.
. Furthermore, the demand for SUVs and MPVs has drastically increased across the globe. Increasing millennial population and increased demand for sporty and advanced featured cars, thereby driving the market.
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Key Developments in Global Market
. In April 2021, Motherson Sumi Systems Ltd. (MSSL), a subsidiary of Samvardhana Motherson Group, announced that its public shareholders voted in favor of the proposed restructuring of the company. The company would benefit from the continued parentage of MSSL along with an increased focus from Sumitomo Wiring Systems, Japan.
. In October 2021, Leoni AG established its fourth production plant in Serbia. The company invested more than EUR 50 million in building and equipment for its new wiring harness production facility.
Each of these players has been profile in the automotive wiring harness market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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Key Ventures operating in the market are -
Motherson Sumi Systems Limited, Aptiv, Borg Warner Inc., Continental AG, CTS Corporation, DENSO Corporation, Dhoot Transmission, Furakawa Electric Co., Ltd., Hella GmbH & Co., KGaA, Hitachi Ltd., Johnson Electric, Lear Corporation, Leoni AG, MAHLE GmbH, Mitusbishi Corporation, Nidec Motors & Actuators, Robert Bosch GmbH, Robertshaw Controls Pvt. Ltd., Spark Minda, Sumitomo Electric Industries Ltd., THB Group, Valeo, WABCO, Yazaki Corporation.
Automotive Wiring Harness Market – Segmentation
Vehicle Type
. Two Wheeler Vehicle
. Passenger Vehicle
Hatchback
Sedan
Utility Vehicles
. Light Duty Commercial Vehicles
. Heavy Trucks
. Buses & Coaches
. Tractors & Agricultural Equipment
. Construction & Mining Equipment
Application
. Engine Harness
. Chassis Automotive Wiring Harness
. Body & Lighting Harness
. HVAC Automotive Wiring Harness
. Dashboard/ Cabin Harness
. Battery Automotive Wiring Harness
. Seat Automotive Wiring Harness
. Sunroof Automotive Wiring Harness
. Door Automotive Wiring Harness
Material Type
. Metallic
Copper
Aluminum
Other Metals
. Optical Fiber
Plastic Optical Fiber
Glass Optical Fiber
Sales Channel
. OEM
. Aftermarket
Category
. General Wires
. Heat Resistant Wires
. Shielded Wires
. Tubed Wires
Electric Vehicle Type
. Battery Electric Vehicle
. Plug-in Hybrid Electric Vehicle
. Hybrid Electric Vehicle
Transmission Type
. Data Transmission
. Electricity Transmission
What are the key data covered in this Automotive Wiring Harness Market report?
. CAGR of the market during the forecast period
. Detailed information on factors that will drive the growth of the automotive wiring harness market between 2022 and 2031.
. Precise estimation of the size of the automotive wiring harness market and its contribution to the market with a focus on the parent market
. Accurate predictions about upcoming trends and changes in consumer behavior
. Growth of the automotive wiring harness market across APAC, Europe, North America, South America, and Middle East and Africa
. A thorough analysis of the market's competitive landscape and detailed information about vendors
. Comprehensive analysis of factors that will challenge the growth of automotive wiring harness market vendors
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Nikhil Sawlani
Transparency Market Research Inc.
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