San
Francisco, 17 October 2018 - The global automotive wiring harness market size is expected
to reach USD 77.15 billion by 2025 at a 6.2% CAGR during the forecast period,
according to a study conducted by Grand View Research, Inc. Rising integration
of electronic devices in vehicles has positively affected demand for automotive
wiring harnesses. Embedding wiring harness in a vehicle provides numerous
benefits such as low probability of electrical shortage, improved fuel
efficiency, and enhanced performance. Moreover, employing technologically
advanced systems such as infotainment systems and advanced driver assistance
systems in vehicles is expected to drive demand over the forecast period.
Increasing adoption of electric vehicles (EVs) in
developing regions is also anticipated to drive the automotive wiring harness
market as the number of electronic components used in EVs is significantly
higher than that in conventional automobiles. Increasing tax benefits and
incentives by governments across the globe is also propelling demand for EVs,
consequently driving the sales of wiring harnesses.
Demand for automotive wiring harness is directly
proportional to increase in vehicle production. Thus, increasing levels of
disposable income across developed economies, particularly emerging economies
such as India, Brazil, and China, are driving the automotive manufacturing
industry, which, in turn, is expected to trigger the growth of the wiring
harness industry.
Full
Research Report On Global Automotive Wiring Harness Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/automotive-wiring-harness-market
www.grandviewresearch.com/industry-analysis/automotive-wiring-harness-market
Further key findings from the report suggest:
- Based on component, the terminals segment is
projected to witness the fastest growth over the forecast period,
primarily driven by development of advanced technologies in the automotive
field, including driver assistance systems and safety features
- By application, the chassis segment accounted
for approximately 30% of the overall revenue in 2017 as they are used in
various vehicle components such as headlamps, fog lamps, and turn
indicators
- Demand for battery electric vehicles (BEVs) is
driven by increase in fossil fuel prices, enforcement of emission laws,
and anticipated expansion of charging infrastructure worldwide, all of
which is slated to drive the segment by EV
- By vehicle type, the light vehicle segment is
anticipated to witness the highest CAGR, which is ascribed to increasing
production of passenger cars in emerging markets
- Asia Pacific leads the worldwide market in
terms of automotive production and is anticipated to register significant
growth over the forecast period. Rising demand for enhanced safety and
convenience features in mid-segment vehicles, coupled with availability of
low-cost labor, is spurring sales
- Major industry players include Aptiv PLC,
Sumitomo Electric Industries, Ltd., Yazaki Corporation, and Leoni AG.
Recycling components to attain raw materials and ability to optimize costs
through low-cost labor country sourcing are expected to emerge as key
success factors for manufacturers in this industry.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-transportation
www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the global
automotive wiring harness market based on component, application, electric
vehicle, vehicle, 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 Vehicles
- Heavy Vehicles
Automotive
Wiring Harness Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- North America
- Brazil
- Middle East & Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-automotive-wiring-harness-market
www.grandviewresearch.com/press-release/global-automotive-wiring-harness-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
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