Automotive Wiring Harness Market Outlook | Growth Prospects & Key Opportunities| Forecast To 2028
The automotive wiring harness market is driven by increased manufacturing of automobiles. In contrast to the traditional wiring methods, automotive wiring harness offer more reliable connections, among electronic gadgets with an automobile
(firmenpresse) - The global automotive wiring harness market is estimated to exhibit healthy growth during the forecast period. The market is driven by increased manufacturing of automobiles. In contrast to the traditional wiring methods, automotive wiring harness offer more reliable connections, among electronic gadgets with an automobile. High maintenance cost is hindering the vertical expansion.
The emergence of electric vehicles (EV) attributed to favorable changes in government policies, increasing fuel prices, and environmental regulations are driving sales of automotive wiring harnesses. Based on electric vehicle, the automotive wiring harness market segmentation includes plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
Battery electric vehicles have been accounted to hold the largest market share and is anticipated to emerge as the fastest growing during the forecast year. Owing to expansion in charging infrastructure, increased government incentives and decreasing battery prices, BEVs are now considered as a major trend prevailing in automotive wiring harness market. The plug-in hybrid electric vehicles sector is expected to nurture at a moderate rate over the prediction period.
In 2017, Motherson Sumi expanded its footprint specifically in European and American commercial vehicle segment by completing its acquisition of PKC Group Plc. This is the 16th merger & acquisition by Motherson Sumi since 2002. It is expanding its presence through global expansion.
Furukawa Electric Co. Ltd., Sumitomo Electric Industries, Ltd., Delphi Automotive LLP, Lear Corporation, SPARK MINDA, Fujikura Ltd, THB Group, Nexans Autoelectric, Samvardhana Motherson Group, Yura Corporation, Yazaki Corporation, Leoni Ag, and QINGDAO SANYUAN GROUP are some of the major players.
Many global companies have been focusing on introducing newer products and differentiating them by using technological advancements to strengthen their market position. PKC GroupLarge’s large scale manufacturing of commercial and light-weight vehicles in India and China is boosting automotive wiring harness sales in the Asia Pacific region. With a number of key companies headquartered in the U.S., North America is a highly lucrative market for most players. Also, a growing emphasis on including superior systems for ensuring driving safety is favoring the manufacturers to provide harmonized standard solutions.
Themen in dieser Pressemitteilung:
automotive-wiring-harness-market
automotive-and-parts
automotive-wiring-harness-market-news
global-automotive-wiring-harness-industry-size
automotive-wiring-harness-market-share
automotive-wiring-harness-market-demand
automotive-wiring-harness-marke
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