Automotive Wiring Harness Market Set to Witness Explosive Growth by 2029
Automotive Wiring Harness Market size was valued at USD 49.46 Bn. in 2022 and the total revenue is expected to grow at 4.8% of CAGR through 2023 to 2029, reaching nearly USD 68.68 Bn.
Automotive Wiring Harness Market Overview:
This study's purpose is to give an overview of the Automotive Wiring Harness Market as well as extensive market segmentation based on segments, and geography. The report includes vital information on the market positions of the major Automotive Wiring Harness companies, as well as notable industry trends and prospects.
The report also focuses on the leading industry players in the Global Automotive Wiring Harness market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into Automotive Wiring Harness Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This study examines the whole Automotive Wiring Harness Market Size from a worldwide standpoint, evaluating historical data and forecasts.
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Automotive Wiring Harness Market Scope:
The report also focuses on the leading industry players in the Global Automotive Wiring Harness market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
Automotive Wiring Harness Market Drivers:
The growing awareness of the importance of safety and security has increased the demand for driver assist technologies (ACC, BSD, AFL, and LKA) that integrate advanced features in vehicles. Furthermore, vehicle manufacturers must adhere to safety regulations and include features such as airbags. Passive safety features have been mandated by the Bharat New Vehicle Safety Assessment Programme (BNVSAP). For example, starting in July 2019, standard fitment for driver-side and front passenger-side airbags was mandated for all new models starting in April 2021 and all existing models starting in September 2021 in India.
Automatic emergency braking systems are expected to be standard in vehicles in the United States by 2022, according to the NHTSA (National Highway Traffic Safety Association). The incorporation of multimedia and security systems has increased the rate of installation of wiring harnesses. To improve the driving experience, comfort features such as voice recognition system, ambient lighting system, heated seat, heated steering wheel, improved functionality of infotainment, digital IP display, cooled cupholder, and additional power steering functions have gained popularity.
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Automotive Wiring Harness Market Segmentation:
1. Electric wire
by Vehicle type
1. Passenger car
2. Commercial vehicles
by Material type
2. Optical fiber
by Transmission type
1. Electrical wiring
2. Data transmission
Automotive Wiring Harness Market Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Automotive Wiring Harness market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Automotive Wiring Harness industry.
1. Aptiv PLC (US)
2. Delphi Automotive LLP (US)
3. The Harness Connection (US)
4. Lear Corporation (US)
5. QINGDAO SANYUAN GROUP (US)
6. Fujikura Ltd (Japan)
7. Furukawa Electric Co. Ltd. (Japan)
8. Sumitomo Electric Industries, Ltd. (Japan)
9. THB Group (UK)
10. Nexans (France)
11. Yura Corporation (Korea)
12. Leoni Ag (Germany)
13. PKC Group (Finland)
14. Minda Spark (India)
15. Devise Electronics Pvt. Ltd. (India)
16. EMDEP TestBoards (India)
17. Samvardhana Motherson Group (India)
18. AutoelectricYazaki Corporation (India)
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The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Automotive Wiring Harness market in these regions.
COVID-19 Impact Analysis on Automotive Wiring Harness Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19's impact on the Automotive Wiring Harness market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Automotive Wiring Harness Market Report are:
- What will be the CAGR of the Automotive Wiring Harness market during the forecast period?
- Which segment emerged as the leading segment in the Automotive Wiring Harness market?
- Which are the prominent players in the Automotive Wiring Harness market?
- What will be the Automotive Wiring Harness market size by 2027?
- Which company held the largest share in the Automotive Wiring Harness market?
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