January 22, 2021

Harness

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Dec 03, 2020 (Market Insight Reports) —
Selbyville, Delaware Global Automotive Wiring Harness Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Automotive Wiring Harness Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Automotive Wiring Harness market and provides information regarding the revenue for the period 2020 to 2027.

Global Automotive Wiring Harness Market is valued approximately at USD 81.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2020-2027. An automotive wiring harness is defined as an electrical assembly of several components in a vehicle that can transfer information and power to a single system. Wiring harness plays a significant role in transferring power and information pertaining to the operation of the vehicle, transmitting & receiving sensor signals, and delivering power. The components that are generally assembled through wiring harness consist of heating, ventilation, and air conditioning (HVAC) systems, electrical devices, speed sensors, and other associated automotive components.

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The rise in demand of modern cars is creating the huge demand for electronics components which can transfer power and other requirements efficiently.. As a result, wiring harnesses can be observed to add enormously to the advancement as well as the development of modern vehicles by automobile manufacturers around the world. An increase in vehicle sales and/or production with the implementation of technologically advanced features, rising trend of vehicle electrification, and growing demand for electric vehicles are the few factors responsible for the CAGR of the market during the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2019, there were around 67.1 million units of passenger cars produced around the world, representing an increase of 65.7 million units in 2013. Similarly, as per the survey of the American Automotive Policy Council (AAPC) in 2017, the automobile production in the United States was more than doubled from 5.6 million vehicles in 2009 to 12.2 million vehicles in 2016. Also, it was predicted that U.S. auto sales would reach almost nearly 17 million vehicles by 2022. This, in turn, is likely to strengthen the demand for Automotive wiring harness all over the world. However, the high replacement cost and the issues related to overheating or short circuit of wiring harness are the major factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Automotive Wiring Harness market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rise in the demand for premium vehicles, along with the presence of a significant number of automobile manufacturers in the

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The MarketWatch News Department was not involved in the creation of this content.

Dec 01, 2020 (SUPER MARKET RESEARCH via COMTEX) —
According to the latest report by IMARC Group titled, “Global Automotive Wiring Harness Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global automotive wiring harness market grew at a CAGR of around 6% during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years.

An automotive wiring harness stands for an arrangement of electric wires, connectors, terminals, etc. for transmitting power and information across the vehicle. It acts as a safety casing in mitigating the risk of fires caused by short circuits. The different wires connect different automobile components, such as chassis, heating, ventilation, and air conditioning (HVAC) system and sensors. Automotive wiring harness ensures reliable transmission of energy to perform distinct operations under high temperatures, vibration, moisture, and noise.

Market Trends:

Rapid development in the automotive industry, coupled with the rising adoption of electric vehicles (EVs) for environmental benefits, has augmented the demand for automotive wiring harnesses. Additionally, the rapid shift from conventional wiring systems towards an advanced security system for enhanced vehicle performance is also driving the product demand. Moreover, the growing popularity of aluminum harness for automotive electrification and minimizing vehicular weight further propel the market growth. Besides this, the introduction of cost-effective and durable optical fibers has augmented the demand for high-quality automotive wiring harness systems. In the coming years, the increasing penetration of Advanced Driver Assistance Systems (ADAS) in the automobile sector is further expected to induce the market for the automotive wiring harness.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/automotive-wiring-harness-market/requestsample

Global Automotive Wiring Harness Market 2020-2025 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the key players being Delphi Technologies (BorgWarner Inc.), FURUKAWA ELECTRIC CO (FUWAY), Lear Corporation (LEA), LEONI AG NA O.N. (LEO.DE), NEXANS (NEX.PA), PKC Group Plc (Motherson Sumi Systems Ltd.), Samvardhana Motherson Automotive Systems Group B.V., Sumitomo Electric Industries Ltd., THB Group (AmWINS Group Inc.), YAZAKI Corporation, YURA Corporation, etc.

For more information about this report visit: https://www.imarcgroup.com/automotive-wiring-harness-market

The report has segmented the market on the basis of Application, Material Type, Transmission Type, Vehicle Type, Component Type, and Region.

Breakup by Application:

Body Wiring Harness
Engine Wiring Harness
Chassis Wiring Harness
HVAC Wiring Harness
Sensors Wiring Harness
Others

Breakup by Material Type:

Copper
Aluminum
Others

Breakup by Transmission Type:

Data Transmission
Electrical Wiring

Breakup by Vehicle Type:

Two Wheelers
Passenger Cars
Commercial Vehicles

Breakup by Category:

General Wires
Heat Resistant Wires
Shielded Wires
Tubed Wires

Breakup by Component:

  • Connectors
  • Wires
  • Terminals
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle
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Technavio has been monitoring the automotive engine wiring harness market and it is poised to grow by USD 112.18 million during 2020-2024, progressing at a CAGR of about 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201111005699/en/

Technavio has announced its latest market research report titled Global Automotive Engine Wiring Harness Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive engine wiring harness market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by Application, which is the leading segment in the market?
    The passenger cars segment will be leading the market during the forecast period.

  • What are the major trends in the market?
    Advances in autonomous vehicles will drive the market’s growth.

  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of about 1% during 2020-2024.

  • Who are the top players in the market?
    Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Kyungshin Co. Ltd., Lear Corp., Leoni AG, Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, and Sumitomo Electric Industries Ltd. are the top players in the market.

  • What are the key market drivers and challenges?
    The market is driven by the increasing penetration of automotive electronics. However, reliability issues leading to product recalls might hamper growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Kyungshin Co. Ltd., Lear Corp., Leoni AG, Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, and Sumitomo Electric Industries Ltd. are some of the major market participants. Although the increasing penetration of automotive electronics will offer immense growth opportunities, reliability issues leading to product recalls are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive engine wiring harness market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new

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