Global Automotive Wiring Harness Market: Snapshot
Owing to the upgrade of existing technology and the emergence of new ones, the global automotive wiring harness market is anticipated to have major growth rates in the future years. During the forecast period, it is expected to show significant growth as it is currently focused on technological up-gradation like Ethernet cables and wires insulated with heat. Apart from that, OEMs are concentrated to develop advance automotive wiring harness so that the vehicles gives optimum level performance. This will also endure proper functioning of all electronic devices that are fitted in the vehicles.
Automotive wiring harness forms the fundamental part of any vehicle and enables the vehicle to run smoothly without any inconvenience. The automotive wiring harness comprises of connectors, Ethernet cables, cables and wires that transmits power to all electronic devices and components like wipers, ignition, and lights. The entire electrical system is dependent on the wiring harness as wires connect all the electrical operation of the automobile.
However, automotive Ethernet cables may act as a restraining factor in the growth of the market. Along with that the substitution of alternate energy vehicles in place of wireness harness may hinder the growth of the automotive wiring harness market in the future years.
Nevertheless, the major factors anticipated to drive the market for automotive wiring harness market are the utilization of new technology and the up-gradation of the existing ones. Due to the increase in demand worldwide, the global automotive wiring harness market is presumed to grow at a stable pace.
The global automotive wiring harness market is presumed to be worth US$80.5 bn within the forecast period of 2015 to 2021. The CAGR growth of the market at the aforementioned forecast period is expected to be 8.60%.
Light Vehicles Contributing More Revenue Generation Owing to Low Maintenance Costs
Based on segmentation by vehicle type, the automotive wiring harness market is classified into heavy vehicles and light vehicles. Among these, the light vehicle type segment has been overpowering the global market. This is because light vehicles have lower maintenance as compared to the heavy ones. Also, light vehicles gives better fuel combustion. Thus, light vehicles are expected to bring about more revenue share in the future years.
On the basis of application, the market for automotive wiring harness is categorized into speed sensors wiring harness, body wiring harness, HVAC wiring harness, engine wiring harness, and chassis wiring harness. Wiring harness for vehicles run on alternate energy and is presumed to open new opportunities for the development of more advanced vehicle wiring harness and draw more revenue to the overall market share.
Asia Pacific to Witness Faster Growth with New Launch Device Launch Promotion in Developing Nations
As per the geographical segmentation is concerned, the market for automotive wiring harness market is categorized into Asia Pacific, Europe, North America and the Rest of the World. As per previous records, Europe have been dominating the market in the past and it is anticipated to continue doing so. Apart from that, Asia Pacific is likely to witness faster growth as there is an increase in demand for high-tech devices in the region. Adding to that, the government is also implementing regulations for safe driving and promoting the use of new launched devices in order to assure road safety.
In order to maintain the relevant balance in the overall market for automotive wiring harness, players are putting more focus more to develop advanced automotive wiring that may lead to a considerable growth in the global market. Some of the leading players in the global automotive wiring harness market are Lear Corporation, Nexans Autoelectric, Delphi Automotive LLP, Minda Automotive Solution, and THB Group.
This is a market research report which undergoes an in-depth analysis of automotive wiring harness market from a global perspective and provides estimates in terms of revenue (USD billion) from 2015 to 2021. Comprehensive analysis of the automotive wiring harness market from all the different dimensions of the market is provided in the report. It includes the drivers and restrains impacting the market. The report also analyses the impact of the drivers, restrains and opportunities over the forecast period. Market opportunities of automotive wiring harness are also included in the report. Automotive wiring harness finds application in both heavy vehicles and light vehicles. Automotive wiring harness is one of the main components as it handles the overall current flow across all the components of a vehicle including its wipers, lights, electronic devices and other electrical components. The reasons for substantial growth in demand for automobiles are the increase in adoption of new technologies used in vehicles and stable financial condition in the countries of Asia Pacific. These factors are responsible for increase for the demand in the automotive wiring harness market. Moreover, the increasing awareness about vehicle safety is also driving the growth of automotive wiring harness as the safety features fitted in automobiles requires complex setup of body wiring harness and speed sensors wiring harness. Moreover the Government norms and regulation on vehicle safety is also driving the automotive wiring harness market globally.
The most attractive market for automotive wiring harness is Asia-Pacific. Increase in use of speed sensors wiring harness and HVAC wiring harness due to more demands of premium vehicles along with the rise of upper middle class in the Asia Pacific region are the major factors increasing the demand for automotive wiring harness market. Infrastructural development in the Asia-Pacific is also driving the automotive wiring harness market as it increases the demand for heavy vehicles which requires technologically upgraded automobile wires and cables with heat insulation. Moreover, emerging countries such as India and China manufacture a large number of both heavy vehicles and light vehicles in the Asia Pacific region which also drives the demand for automotive wiring harness. Asia Pacific is followed by North America from the market attractiveness point of view. Reliable, high-quality, and powerful wiring harnesses are in great demand in the North America automotive market. The wiring harness market in North America generates most of its revenue from sales in the comfort and luxury automobile segment. Majority of vehicles in North America are equipped with safety features and high end devices due to strict Government norms in the automobile sector. However, Europe held the maximum market share for automotive wiring harness. Most of the vehicles in Europe is equipped with high tech devices and advanced electronic devices which require the usage of body wiring harness. Moreover the Europe market is dominated by premium automobile manufacturers producing premium cars. These vehicles have a very high top speed and require speed sensors for optimum performance. This creates demand for speed sensors wiring harness.
The report is segmented by vehicle type, application and geography. The report includes the market drivers, restraints, and opportunities of the automotive wiring harness market. Current market trends are also highlighted in the study and provide the forecast from 2015 to 2021. Future trends that will influence demand in the coming years are also included in the report. The report has been segmented into North America, Europe, Asia-Pacific and Rest of the World based on region. The current market size, market trends and market scenario from 2015 and are also include in the report.
Strategic analysis of the global automotive wiring harness market and the growth forecast for the period 2015 to 2021 is also provided in the report. The span of the report includes competitive analysis of various market segments based on the types, module and in-depth cross sectional analysis of the automotive wiring harness market across different geographic segments. The types of automotive wiring harness market include chassis wiring harness, engine wiring harness, HVAC wiring harness, , body wiring harness and speed sensors wiring harness. Company profiles of leading market players are also included in this report to provide a comprehensive overview of the market in a more detailed way. Market attractiveness analysis included in the report provides in-depth analysis into market dynamics and industry competition.
Company market share analysis of the various industry participants along with company overview, financial and business strategies and recent developments in the field of automotive wiring harness market are also provided in the report. Major market participants profiled in this report include THB Group, Minda Automotive Solution, Nexans Autoelectric, Leoni Ag, Samvardhana Motherson Group, Sumitomo Electric Industries, Yazaki Corporation, Lear Corporation, Delphi Automotive LLP, and Furukawa Electric Co. Ltd among others.
The Global Automotive Wiring Harness Market has been segmented as follows:
Global Automotive Wiring Harness Market: By Geography
- North America
- Asia Pacific
- Rest of the World
The report provides a cross-sectional analysis of all the below segments with respect to the above mentioned regions.
Global Automotive Wiring Harness Market: By Vehicle Type
- Light Vehicles
- Heavy Vehicles
Global Automotive Wiring Harness Market: By Application
- Chassis Wiring Harness
- HVAC Wiring Harness
- Engine Wiring Harness
- Body Wiring Harness
- Speed Sensors Wiring Harness