Automotive Wiring Harness Market 2018 Is Estimated to Reach US$ 98.4 Billion and Growing at 5.6% CAGR by 2023

Automotive Wiring Harness Market 2018

Global Automotive Wiring Harness Market Information Report by Vehicle Type (Passenger Car, Light Motor Vehicles, Heavy Motor Vehicle and Others), by material type (Copper, Aluminium and Others) by Application (Engine, HVAC, Body, Chassis, Sensors and Others), and by Regions – Global Forecast To 2023

Automotive Wiring Harness Market 2018

Automotive Wiring Harness Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Wiring Harness Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

Global Automotive Wiring Harness Market Information Report by Vehicle Type (Passenger Car, Light Motor Vehicles, Heavy Motor Vehicle and Others), by material type (Copper, Aluminium and Others) by Application (Engine, HVAC, Body, Chassis, Sensors and Others), and by Regions – Global Forecast To 2023

Market Research Future (MRFR)’s recent assessment of the global market for automotive wiring harness revealed that demand for automotive wiring harness will continue to surge at a noteworthy pace in emerging markets over the next five years. According to MRFR’s assessment, the market will surpass a valuation of USD 98 Bn towards the end of 2023, representing a healthy growth rate.

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Automotive wiring harness is a key vehicle component, therefore the market’s performance is closely related with the growth trend of the automotive industry. Both conventional and new-age vehicles require wiring harness for electrification purposes, which remains a major growth enabler for the market. Increased sales of passenger cars in counties such as India, China, Brazil and Mexico among others has boosted the global vehicle production in recent years. This is considered as a major factor fueling the demand for various types of automotive parts and components, including automotive wiring harness.

As automation and self-drive vehicle trends gain momentum, automotive electrification technology enters an evolution phase. It is extremely important for automotive wiring harness manufacturers to remain aligned with the latest technology trends in the automotive sector. Moreover, the emphasis that is being placed on reaching maximum output levels using minimum power is influencing the design, material and technology used for manufacturing automotive wiring harness. A large number of manufacturers are stepping up their R&D efforts in order to meet the present and future expectations. As a result, new automotive electrical systems have arrived that are not only replacing the traditional wiring systems but allowing carmakers to add leading-edge electronic specifications in their vehicles.  MRFR also finds that demand for premium-end passenger cars has increased in recent years and the trend is likely to continue over the medium term if not beyond. This is also expected to support the growth of the automotive wiring harness market.

Latest Industry Trend and News:

Japan based Sumitomo Electric Industries Ltd is reportedly set to collaborate with ADTRAN, Inc to strengthen its sale, marketing and support of broadband access technologies, especially EPON gear. The move will also allow Sumitomo transfer its North American EPON operations to ADTRAN.

Motherson Sumi Systems Ltd, an automotive component manufacturers based in India has announced that it has reached an agreement with Cerberus Capital Management, a US-based alternative investment firm to acquire Reydel Automotive Group. Reportedly, Motherson Sumi Systems will make a transaction of $201 million for the Netherlands-based automotive company.

Global Market for Automotive Wiring Harness – Segmental Analysis

By vehicle type, the market has been segmented into heavy motor vehicle, light motor vehicles, passenger car and other. On the basis of material type, the market has been segmented into aluminum, copper and others. Based on application, the market has been segmented into HVAC, body, sensors, chassis, engine and others

Regional Overview

Asia-Pacific (APAC) is expected to remain a highly attractive market for automotive wiring harness through 2023. Tremendous growth of the automotive sector in APAC has provided an impetus to the region’s market. A growing pool of middle class coupled with rising disposable income per capita is playing an important role in driving the sales of passenger cars in countries such as China and India. At the same time, strong two wheeler sales is contributing to the growth of the market as well. Meanwhile, Europe and North America will remain the other two important markets for automotive wiring harness over the next couple of years.

Global Market for Automotive Wiring Harness – Competitive Dashboard

Some of the key companies operating in the market include Yazaki Corporation, Sumitomo Electric Industries, Fujikura Ltd, SPARK MINDA, Yura Corporation, Delphi Corporation, Leoni Group, Furukawa Electric, THB Group, and PKC Group.

The report for Global Automotive Wiring Harness Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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