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

The global automotive wiring harness market is anticipated to reach USD 93,074.4 million by 2023, as per a new detailed report by Market Research Future (MRFR). It is expected to exhibit a 6.35% CAGR during the assessment period (2017-2023). Developments in semiconductor technology to reduce the number of units and weight of cars is anticipated to drive market growth. Increasing demand for cars by consumers for travelling purposes is projected to bolster market demand over the forecast period.

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Global Market for Automotive Wiring Harness – Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market based on material type, component type, application, vehicle type, and region. By material type, the market has been segmented into copper, aluminum, and others. The copper segment accounted for a large market share and maintain its dominance in the market over the forecast period.

By component type, the market is segmented into wires, connectors, and terminals. The wires segment is touted to grow at a 6.43% CAGR over the forecast period. This can be attributed to importance placed on wires in a wiring harness unit. The wires transfer electrical signals between various devices including engine light, meters, navigation systems, etc.

Major market applications include engine, chassis, sensors, heating, ventilation, and air conditioning (HVAC), body, and others. The engine segment is touted to generate maximum revenue for the market by 2023, followed by chassis and HVAC segments. Demand for HVAC can be attributed to installation of these units in light commercial vehicles and trucks.

By vehicle type, the market is segmented into passenger and commercial vehicles. The passenger vehicle segment is expected to induce demand for wiring harnesses by 2023. As per a 2016 report by the OICA Car Association, nearly 69 million passenger cars were sold globally. This number is expected to rise sharply owing to rise in expendable income levels of consumers, development of hybrid vehicles, and adoption of these vehicles.

Regional Outlook

The automotive wiring harness market, on the basis of region, is segmented into the North America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). The APAC market is projected to exhibit a 6.79% CAGR over the forecast period. This can be attributed to the booming automotive sector in the region. China can contribute to regional market revenue owing to its lax policies regarding labor laws and tariffs. Moreover, growth of the transportation and information and communication technology (ICT) sectors in parallel to the automotive sector can influence market demand.

The North America market is also touted to exhibit a stupendous CAGR over the forecast period owing to the U.S. In addition, presence of various automobile manufacturers coupled with a steady demand for commercial vehicles can augur market growth.

Global Market for Automotive Wiring Harness – Competitive Dashboard

Some of the key players profiled in the market report include A Delphi Automotive Plc. (renamed itself as Aptiv) (U.K.), Motherson Sumi Systems (India), THB Group (China), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), PKC Group(Finland), Leoni AG (Germany), Sumitomo Electric Industries Ltd. (Japan), YAZAKI Corporation (Japan), Lear Corporation (U.S.), and others. Acquisitions, collaborations, and launch of new products are strategies employed by these players to acquire a larger market share.

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Table of Contents

1 Executive Summary

2 Research Methodology

3 Market Dynamics

4 Global Automotive Wiring Harness Market, By Vehicle Type

5 Global Automotive Wiring Harness Market, By Material Type

6 Global Automotive Wiring Harness Market, By Application

7 Regional Market Analysis

8 Competitive Analysis

Continued…….

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