Automotive Wiring Harness Market To Expand Revenue At 6.2% CAGR During the Forecast Period 2022-2025

Posted on 2022-05-31 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, May 31, 2022 — /EPR Network/ —

Automotive Wiring Harness Industry Overview

The automotive wiring harness market size was valued at USD 48.42 billion in 2017, expanding at a CAGR of 6.2%.

Increasing the integration of electronic devices into vehicles in order to provide enhanced safety features has positively influenced market growth. Employing these systems in a vehicle offers numerous benefits such as improved fuel efficiency, enhanced performance, and low probability of electrical shortage.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Wiring Harness market

Sale of automotive wiring harnesses is directly proportional to the increased manufacturing of vehicles. Factors such as rising disposable income, increased government initiatives such as Make in India, and prevailing low labor costs in countries such as China and India have led to increased manufacturing of passenger cars and light commercial vehicles in developing economies. This, in turn, is driving sales of automotive wiring harnesses.

Rising adoption of electric vehicles (EVs) is another significant trend proliferating market growth. This can be attributed to expansion of EV charging infrastructure, increasing fuel prices, favorable changes in government policies, and environmental regulations.

Despite numerous technological advancements in the field of automotive assembly line, manufacturing of wiring harnesses is still carried out either as a labor-intensive task or using semi-automatic machines for selected operations. To overcome this drawback, numerous OEMs in the market are focusing on constructing new manufacturing facilities equipped with automated machines for manufacturing of wiring harnesses in countries with lower labor rates, such as India and Japan.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

Automotive Air Filters Market – The global automotive air filters market size was valued at USD 3.9 billion in 2018, exhibiting a CAGR of 4.8% over the forecast period.
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Automotive Wiring Harness Market Segmentation

Grand View Research has segmented the global automotive wiring harness market based on application, electric vehicle insights, component, vehicle insights, and region:

Automotive Wiring Harness Component Outlook (Revenue, USD Million, 2014 – 2025)
- Electric Wires
- Connectors
- Terminals
- Others
Automotive Wiring Harness Application Outlook (Revenue, USD Million, 2014 – 2025)
- Body
- Chassis
- Engine
- HVAC
- Sensors
Automotive Wiring Harness Electric Vehicle Outlook (Revenue, USD Million, 2014 – 2025)
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Automotive Wiring Harness Vehicle Outlook (Revenue, USD Million, 2014 – 2025)
- Light Vehicle
- Heavy Vehicle
Automotive Wiring Harness Regional Outlook (Revenue, USD Million, 2014 – 2025)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

September 2021: Nexans entered into a share purchase agreement with Xignux SA of Mexico to acquire Centelsa, a premium cable maker in Latin America active in producing cables for building and utility applications. The closing of the agreement is subject to regulatory approvals and is expected to take place in the first half of 2022.
2017: Motherson Sumi Systems Ltd. acquired PKC Group Plc for approximately USD 665.5 million. This acquisition is expected to strengthen the company’s presence in regions such as Europe, the Americas, and Asia Pacific.

Key Companies profiled:

Some prominent players in the global automotive wiring harness market include

Aptiv PLC
Sumitomo Electric Industries, Ltd.
Yazaki Corporation
Leoni AG
Lear Corporation
Furukawa Electric Co., Ltd.

Order a free sample PDF of the Automotive Wiring Harness Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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