Automotive Wiring Harness Market Size 2020 - Overview
Global Automotive Wiring Harness Market Size Information by Application (Cabin, Door Harness, Engine, Electronic Parking Brakes, Airbag Harness, and Electronic Gear Shift System), by Vehicle Type (ICE and EV), by Region- Forecast till 2023
(firmenpresse) - Automotive Wiring Harness Market Size Overview
The global Automotive Wiring Harness Market Size could project a CAGR of roughly 11% during the forecast period (2018-2023), reveals Market Research Future (MRFR).
In automotive industry, various technologies have evolved tremendously in the recent years that has led to an increase in the number of complex and high-end electric & electronic systems used in vehicle. The installation rate of secondary wiring harnesses in a vehicle has increased due to technologies such as advanced infotainment system and safety & security system. Hence, the rising inclination for high-end electronics is driving the demand for secondary wiring harness.
Market Segmentation
The worldwide Automotive Wiring Harness Market Size Market has been categorized with context to application and vehicle type.
Various applications of automotive secondary wiring harness are door harness, cabin, electronic parking brakes, engine, electronic gear shift system, and airbag harness. The cabin segment can be split into lighting, infotainment, steering wheel harness, and seat harness while the door harness segment includes power door lock harness, power mirror, and door handle harness. Airbag harness enjoys robust demand due to rising installations of extra airbag in latest vehicle models along with the increasing mandates for automotive safety.
Regional Insight
Europe, North America, Asia Pacific (APAC) and the Rest of the World (ROW) are the primary markets for automotive secondary wiring harness.
Asia Pacific could be the leading market for automotive secondary wiring harness in the near future, as a result of the expansive population and rising middle class. These factors are influencing the automotive sales in a positive way in the region. Increasing use of advanced systems and vehicle production in the region owing to robust demand for premium vehicles has intensified the demand for automotive secondary wiring harness. The region is also noting immense infrastructure development which has done wonders for the market in recent years. This is a critical factor that helps augment the demand for heavy vehicles that need advanced technology automotive wiring for heat insulation.
Germany is touted to be the most profitable market for automotive secondary wiring harness in Europe during the forecast period. Germany is one of the prominent technology hubs of automotive industry in the world, and it also houses a huge number of esteemed players. This gives a substantial boost to the regional market in the process.
North America stands as an important market for Automotive Wiring Harness Market Size. The region is known for having a highly lucrative market for premium vehicles, which could benefit the automotive secondary wiring harness automotive wiring harness market as well. Moreover, there has been exponential demand for extra safety and convenience features in mid-segment vehicles in the region. The sum of these factors is expected to significantly push the growth of the regional market in the following years.
Renowned Players
Highly renowned vendors operating in the worldwide Automotive Wiring Harness Market Size include Ashok Minda Group (India), Aptiv PLC (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan), Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Leoni AG (Germany), Samvardhana Motherson Group. (India), Spark Minda, Nexans (France), and THB Group. (China).
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Datum: 20.03.2020 - 14:38 Uhr
Sprache: Deutsch
News-ID 609367
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Contact person: sagar
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Kategorie:
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Typ of Press Release: Product
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Date of sending: 20/03/0202
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