The global Automotive Wiring Harness market accrued earnings worth approximately 69,743 (USD Million) in 2019 and is set to record a CAGR of about 5.5% over the period from 2020 to 2026. The report offers assessment and analysis of the automatic coffee machines market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Introduction
Wire harnesses are the assemblies of electric cables which transfer signals in myriad electrical Application Types. Precisely, they are the loose wire bundles clustered together into a sole covering forming structured system. These wire harnesses find a slew of Application Types in myriad sectors with automotive industry being one of the main targeted sector.
Furthermore, automotive wire harnesses make utilization of many wire harnesses for optimizing the performance of the vehicle as well as automotive system. Moreover, these products assort wiring of various electronic & electrical equipment into a single system. These automotive wire harnesses are utilized for setting up electric circuits in vehicles and are devised for functioning even in tough environmental conditions or extreme hot or cold temperatures.
Apart from this, automotive wire harnesses find Application Types in two wheelers, cars, utility vehicles, three wheelers, and commercial or passenger vehicles. These product are designed or manufactured as per the geometric or electric requirement of an automobile and are fitted in engine, chassis, and body of the automotive.
Details of the Report:
|
Report Metric |
Details |
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Base Year |
2019 |
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Historical Data |
2017 and 2018 |
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Forecast period |
2020-2026 |
|
Market Representation |
Earnings provided in terms of USD Million and CAGR estimated from 2020 to 2026 |
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Segments Analyzed |
By Application Type, By Vehicle Type, and By Region |
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Regions Analyzed |
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa |
Market Growth Dynamics
A surge in the vehicle production across globe and escalating demand for technically advanced electronic safety equipment in automotive are few of the major factors that are likely to spur the market expansion over the next couple of years. Moreover, automotive wire harnesses offer spectrum of advantages to the automotive including enhanced hybrid car performance, reducing risk of short circuits in vehicles, reduction in time of installation, enhanced fuel efficiency, offering of best performance in vehicles during tough or extreme environmental conditions, and ability to carry huge power loads. This, in turn, will help the automotive wiring harness market scale up new horizons of growth in the near future.
Additionally, large-scale requirement for installing advanced driver assistance systems in automotive coupled with end-user preference for automotive electrical will transform into huge market demand over the upcoming years. Apparently, need for improving the wire connectivity in cars and reducing the complexity of the electric wire configuration in these vehicles has resulted in huge demand for automotive wiring harnesses. Apart from this, need for simple & easy electric component connectivity in cars will further support the market growth along with the defining of the business scope.
Asia Pacific To Account Majorly Towards Overall Market Revenue During 2020-2026
The growth of the market in the region over the forecast timeframe is owing to massive demand for automotive wiring harnesses in vehicles due to need for vehicle safety & modern electronic equipment. Moreover, China and India are major markets for light vehicles in the region, thereby further igniting the business expansion in the Asia Pacific one. The regional market growth is also shaped by introduction of strict government norms addressing vehicle safety.
Key market participants profiled in the report include PKC Group, Furukawa Electric Co., Ltd., THB Group, Lear Corporation, Fujikura Ltd., Delphi Automotive LLP, Sumitomo Electric Industries, Ltd., SPARK MINDA, Nexans Autoelectric, Samvardhana Motherson Group, Yura Corporation, Yazaki Corporation, Leoni Ag, and QINGDAO SANYUAN GROUP.
The global automotive wiring harness market is segmented as follows:
By Application Type
- Chassis Wiring Harness
- Body Wiring Harness
- Engine Wiring Harness
- HVAC Wiring Harness
- Sensors Wiring Harness
By Vehicle Type
- Passenger Cars
- Two Wheelers
- Commercial Vehicles
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The key growth drivers that will leverage the business sphere include rise in the vehicle production globally and bulging demand for technically advanced electronic safety equipment in automotive industry.
The CAGR of the industry is expected to be nearly 5.5% during the forecast timeline.
Asia Pacific region will contribute lucratively towards the global market value over the estimated timeline.
The key market participants include Nexans Autoelectric, Furukawa Electric Co., Ltd., Lear Corporation, Leoni Ag, Fujikura Ltd., Yazaki Corporation, Delphi Automotive LLP, Sumitomo Electric Industries, Ltd., SPARK MINDA, THB Group, Samvardhana Motherson Group, Yura Corporation, PKC Group, and QINGDAO SANYUAN GROUP.
