Automotive Wiring Harness Market Projected to register CAGR 6.5% during the forecast period 2016 – 2024

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Automotive Wiring Harness Market Projected to
register CAGR 6.5 during the forecast period
2016 2024
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Automotive Wiring Harness Market By Application
(Body wiring harness, Engine wiring harness,
Chassis wiring harness, HVAC wiring harness,
Sensors wiring harness) By Vehicle Type (Heavy
Vehicle, Light Vehicle) By Material (Copper,
Aluminum, Others) and Region - Global Forecast to
2024 Automotive wiring harness is an electrical
assembly of various components in a vehicle that
transmit power and information to the system. It
has evolved from the need of compact wiring, ease
of operation in handling different electronics
devices and protection against vibration and
abrasion. It plays an important role in
transmitting information about the operation of
the vehicle, sending and receiving sensor signal
and supplying power. Market Size and Forecast The
automotive wiring harness market is expected to
grow at a CAGR of 6.5 over the forecast period
i.e. 2017-2024. This market is driven by the
rapid growth of automobile industry owing to
various technologically innovative features
implemented in vehicles. Light vehicle segment is
anticipated to acquire largest market share with
the highest CAGR, during the forecast period, due
to high production value. The most prominent
regional markets include North America and
Asia-Pacific, which together constituted around
60.4 share in the total revenue of automotive
wiring harness market.
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AsiaPacific region is expected to dominate the
market during the forecast period aided by China
and India the fastest developing countries.
Increase in use of speed sensors wiring harness
and HVAC wiring harness owing to high demand for
premium vehicles is heightening the demand for
the automotive wiring harness. Infrastructural
development in this region are also anticipating
the market growth, as it has fostered the demand
for heavy vehicles that require technology
elevated automobile wiring for heat
insulation. In Europe, the market is projected to
attain maturity as most of the vehicles are with
high end electronics and safety features. In
Western Europe, Germany is estimated to dominate
the Western Europe automotive wiring harness
market. However, Eastern Europe and North
American countries such as Mexico and Canada
still have the potential market due to increasing
vehicle production capacity and commissioning of
new vehicle assembly plants. Market
Segmentation Our in-depth analysis segmented the
automotive wiring harness market in the following
segments
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By Region Global automotive wiring harness
Market is further classified on the basis of
region as follows North America (U.S. Canada)
Market size, Y-O-Y growth Opportunity Analysis.
Latin America (Brazil, Mexico, Rest of Latin
America) Market size, Y-O-Y growth Opportunity
Analysis. Western and Eastern Europe (U.K.,
Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands Luxembourg, Rest of Western Europe)
Market size, Y-O-Y growth Opportunity Analysis.
Asia-Pacific (China, India, Japan, Singapore,
Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth Opportunity Analysis. Middle
East and North Africa (MENA) Market Size and
Y-O-Y Growth Analysis
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Growth Drivers and Challenges Increasing
installation of the advanced driver assistance
system and stringent automotive norms taken by
the government of various countries is
anticipated to foster the growth of automotive
wiring harness market. Further, mounting fuel
costs and strict government regulations regarding
CO2 emissions are boosting demand for electric
vehicles in North America, Western Europe,
Eastern Europe and Asia Pacific. Government
across various geographies have mandated use of
certain electronic safety features, such as
Anti-Lock Braking System (ABS), Electronic
Stability Program (ESP) and other features, in
automotive. Furthermore, increase in demand for
high-end electronic and safety features in
vehicles, mainly passenger cars, along with cost
reduction and enhanced reliability, is likely to
impel the demand for automotive wiring harnesses
globally. Use of automotive ethernet by
automotive OEMs represents a new trend in the
external as well as internal electronic devices
connectivity in an automobile. Therefore, these
automotive ethernet diminishes the use of complex
wiring harness structures to a great extent and,
thereby, may act as a restraint for growth of the
global automotive wiring harness market in the
coming years.
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Key players The major key players for automotive
wiring harness are as follows Sumitomo electric
industries Lear corporation Delphi Automotive
PLC Yazaki corporation Furukawa electric
company Leoni AG Samvardhana motherson group PKC
group THB group Minda Automotive Yura
Corporation Kromberg Schubert
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