Automotive Wiring Harness Market: Overview
The automotive wiring harness is an electrical assembly of wires and cables that transmit electrical power or signals in automobiles. It is bound together by straps, cable ties, sleeves, cable lacing, electrical tape, or a combination of these systems. It provides a better safeguard against the vehicular vibrations and is effectively secured from moisture and abrasions. Numerous components are assembled including heating, ventilation and air conditioning (HVAC) systems, speed sensors, electrical devices, and other electronic components. It is a medium to connect all electronic and electrical components together for power supply, sensor signals, and transmitting data for enhancing vehicle performance.
Automotive Wiring Harness Market: Growth Factors
The automotive wiring harness market is driven by the rapid growth of the automobile industry owing to a rise in vehicle sales and an increase in the demand for premium segment vehicles. Moreover, the rising trend of integrating advanced features in order to improve performance and driving experience is altogether immensely driving the demand of the market. Moreover, the growing demand for electric vehicles acts as an add-on creating prominent opportunities in the future. Furthermore, automotive wiring harness offers ease in installation, maintenance, and replacement for new as well as old automobiles. With the help of wiring harness system, the fuel efficiency of the vehicle is improved; this factor further drives the growth of the market. However, the corrosive nature of the wiring harness, complex wiring integration, and the high cost of advanced technology equipment are some of the factors restraining the market growth to some extent. Overheating or short circuit of the wiring harness with extreme climatic conditions, such as rain and snow may hinder the market growth. Growing trend of autonomous and semi-autonomous vehicles and high-growth potential in emerging markets are some of the significant potential opportunities for players in the market. The rise in the use of safety sensors, such as blind spot detection and automated steering control systems, offers various opportunities for market expansion. High fluctuating cost of copper due to increasing demand is quite a challenge faced by players in the market.
Automotive Wiring Harness Market: Segmentation
The global automotive wiring harness market is segmented on the basis of vehicle, material, component, application, and region. In terms of vehicle type, the market is segregated into passenger cars, buses, trucks, and Light Commercial Vehicles (LCV). Based on material, the market is fragmented into copper, aluminum, and others. Furthermore, on the basis of the component, the market is divided into connectors, wires, terminals, and others. In terms of application, the market is segmented into Body and lightning harness, engine harness, battery harness, chassis harness, HVAC harness, airbag harness, dashboard/cabin harness, sunroof harness, door harness, seat harness, and others.
Automotive Wiring Harness Market: Regional Analysis
Asia Pacific automotive wiring harness market is expected to be the fastest growing market during the forecast period. Owing to automotive production is increasing in the major countries such as China, Japan, and India. In addition, the rise in demand for electric vehicles and proactive government initiatives are likely to further drive the market growth in this region. Moreover, rapid urbanization further increases the demand for passenger vehicles, resulting in remarkable growth of the market. North America will acquire considerable market share during the forecast period due to the high adoption of safety technologies in automobiles. Europe automotive wiring harness is expected to grow due to more stringent government regulations of vehicle emission control.
Automotive Wiring Harness Market: Competitive Players
Some of the important key players in automotive wiring harness market are Leoni AG, Delphi Automotive, Sumitomo Electric Industries, Yazaki Corporation, Lear Corporation, Furukawa Electric Company Ltd., Quingdao Sanyuan Group, Samvardhana Motherson Group, THB Group, Spark Minda, Kyungship Corporation, Nexans Autoelectric, Fujikura Ltd., Yura Corporation, PKC Group, and Kromberg & Schubert, among others.
Automotive Wiring Harness Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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- Emerging segments and regional markets
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