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Lower Installation Time to Spur Growth of Automotive Wiring Harness Market | Highlights, Key Findings, Major Companies Analysis and Forecast to 2023


Lower Installation T

iCrowdNewswire   Jan 7, 2021  3:35 PM ET

Market Synopsis

Automotive wiring harness includes an array of transistors, wires, etc. that facilitate the relay of electric signals between automobile components. In this report presented by Market Research Future MRFR, the global automotive wiring harness market is projected to register 6.35% CAGR over the assessment period 2017 to 2023. It also presents an observation that the valuation of the market will surpass USD 93,000 Mn by the close of 2023. Increasing demand for electric vehicles is poised to influence the revenue generation in the automotive wiring harness market positively in the upcoming years.

These harness systems are designed to protect cables and wires from abrasion, moisture, vibration and other external factors. Thus, it helps in elongating the lifespan of the vehicle and reducing maintenance costs. These factors are poised to propel expansion of the automotive wiring harness market in the forthcoming years. The advantages of the system such as lower installation time, fuel efficiency, etc. are prognosticated to lead the expansion of the automotive wiring harness market in the upcoming years. Technological innovations in product portfolios of key players are also projected to encourage the development of the market on the global front. Product launches catering to changing trends in the industry are anticipated to boost growth of the automotive wiring harness market in the foreseeable future.

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Implementation of rules and regulations to emission control are poised to have a favorable effect on the growth curve of the automotive wiring harness market. In addition, it is also likely to promote adoption of electric cars. Thus, in turn, is supposed to drive the proliferation of the automotive wiring harness market in the coming years. Rising disposable income is anticipated to motivate the growth pattern of the market by increasing sales of electric cars. Also, the rising fuel prices are poised to influence the sales of electric cars positively. These factors, combinedly, are projected to boost market growth on the global front.

Segmental Analysis

On the basis of material type, the global automotive wiring harness market has been segmented into aluminum, copper, and others.

On the basis of component type, the automotive wiring harness market has been segmented into wires, connectors, and terminals.

On the basis of application, the automotive wiring harness market has been segmented into chassis, body, HVAC, engine, sensors, and others.

On the basis of vehicle type, the global automotive wiring harness market has been bifurcated into passenger vehicle and commercial vehicle.

Regional Analysis

The regional assessment of the global automotive wiring harness market is included in the report for the detailed market analysis. It provides a study of four key regions followed by a country-level analysis of each of the regional segments. These major regional segments are – Asia Pacific, North America, Europe, and the Rest of the World (RoW). Asia Pacific is poised to play a crucial role in the development of the market. It is likely to capitalize on the growing demand for electric vehicles in the region. China is promoting the adoption of electric vehicles to curb air pollution. It is anticipated to shift entirely to electric vehicles in the near future. These factors are presumed to drive the growth of the automotive wiring harness market in the region. Also, the increasing investments in the automotive industry in the region is supposed to spur demand for these systems over the next few years.

Competitive Dashboard

Lear Corporation (U.S.), Furukawa Electric Co., Ltd. (Japan), Sumitomo Electric Industries Ltd. (Japan), PKC Group (Finland), Fujikura Ltd. (Japan), THB Group (China), YAZAKI Corporation (Japan), Delphi Automotive Plc. (renamed itself as Aptiv) (U.K.), Motherson Sumi Systems (India), and Leoni AG (Germany) are few of the major players of the global automotive wiring harness market.

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Key Questions Addressed by the Report

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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