Automotive Secondary Wiring Harness Market

Automotive Secondary Wiring Harness Market - An Overview

The global automotive secondary wiring harness market is expected to witness moderate growth during the forecast period between 2021 and 2031.

Automotive wiring harness refers to a collection of wires, connectors, and terminals that run throughout an automobile and help in transmitting electric power.

Automotive wiring harness has shown the ability to transmit electric power to different electronic and electrical devices in a vehicle and helped in ensuring a high level of safety, for any vehicle.

The outbreak of the COVID-19 pandemic negatively impacted the growth in the automotive secondary wiring harness market. With governments imposing strict social distancing regulations and lockdowns in a bid to contain the spread of the virus, automotive manufacturing facilities were forced to shut down.

This affected the consistent production of vehicles and affected the demand for automotive secondary wiring harness products, too.

Automotive Secondary Wiring Harness Market - Trends and Opportunities

Rising adoption of electric vehicles is the key growth driver for the global automotive secondary wiring harness market.

Also, increasing demand for safe cars among different population sections could fuel the growth in the overall market, in the years ahead.

Growing demand for advanced cars with improved design is also anticipated to contribute to the growth of the automotive secondary wiring harness market, in the coming years.

Wiring harness has proven to help improve the vehicles' fuel capacity and provide secure connections to the automobile and this aspect of them is expected to bolster market growth, in future.

Innovations to existing products could help meet the requirements of more consumers and help in overall market growth.

Government initiatives and measures, promoting the features and benefits of automotive secondary wiring harness products could help increase product demand, in future.

Automotive Secondary Wiring Harness Market - Competitive Landscape

The global automotive secondary wiring harness market is highly competitive and comprises several well-established market players. Many of these players are expected to account for a large share in the overall market, in the coming years.

R&D undertakings to produce an improved quality of products could be a key growth strategy for leading market players, in future.

Growth strategies such as new product launches could help prominent market players gain a competitive edge over the other players.

In 2020, Leoni launched a new line of wiring solutions, integrated with intelligent power distribution. The addition of intelligent power distribution can help prevent the complete breakdown of the wiring system through procedures such as activate or deactivate sub-systems.

Leading market players could also collaborate with the smaller players in a bid to expand their market presence and increase their revenue shares.

Some of the leading players in the overall market include Robert Bosch GmbH, YAZAKI Corporation Ltd., Leoni, Sumitomo Electric Wiring Systems, Aptiv, and Miracle Electronics Devices Pvt. Ltd.

Automotive Secondary Wiring Harness Market - Regional Assessment

The global automotive secondary wiring harness market is classified into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.

Asia Pacific is expected to be the dominant region in the global market in future because of increasing number of vehicle production and purchases among different population sections, residing in countries such as China and India.

Europe is expected to offer lucrative growth opportunities for the overall automotive secondary wiring harness market in the years ahead owing to the presence of advanced automobile comfort technologies and innovative driver assistance systems in countries such as Italy and Germany.

North America is expected to witness moderate growth in the global market in future owing to fewer market players in countries such as US and Canada.

Other regions of the world such as Middle East and Africa and Latin America are expected to witness sluggish growth in the automotive secondary wiring harness market, in future.