Published: Apr, 2018

The rivalry between THB Group, Nexans Autoelectric, Minda Automotive Solution, Leoni Ag, Lear Corp., Delphi Automotive LLP, and various other players characterizes the vendor landscape prevalent in the global automotive wiring harness market, finds a new research report by Transparency Market Research (TMR). These players are aggressively focusing on innovation and technological advancements in their product offerings. Going forward, they are likely to involve increasingly into strategic alliances over the next few years in order to expand their reach across various regions, states the market report.

As per the research study, the global market for automotive wiring harness was worth US$45.4 bn in 2014. Proliferating at a CAGR of 8.60% during the period from 2015 to 2021, the market is expected to touch US$80.5 bn mark by the end of the period of the forecast. In terms of the type of the vehicle, the light vehicle segment has been dominating the global market. With low maintenance requirements and better fuel combustion in light vehicles, this segment is projected to remain on the top over the next few years. Speed sensors wiring harnesses, engine wiring harnesses, body wiring harnesses, chassis wiring harnesses, and heat, ventilation, and air conditioning (HVAC) wiring harnesses have surfaced as the key application areas of automotive wiring harness across the world, reports the market study.

 

automotive-wiring-harness-market

Technological Advancements to Support Market’s Growth

Currently, the automotive industry is witnessing a substantial rise and is anticipated continue its growth streak over the next few years. Constant technological up-gradation in vehicles has become a necessity for automobile manufacturers in order to remain relevant in the global market. “In a bid to make vehicles perform at an optimum level and to ensure proper operations of all the electronic devices fixed in vehicles, manufacturers are focused on developing advanced automotive wiring harnesses, leading to a substantial growth in this market,” says a TMR analyst. Continual advancements and upgrades in existing technologies are likely to support this market over the next few years, states the research report.

Europe to Remain on Top

Based on the geography, the worldwide market for automotive wiring harness is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. In 2014, Europe led this market, thanks to the presence of a number of prominent automobile manufacturers, such as Mercedes Benz, BMW, and Audi in this region. The Europe market for automotive wiring harness is anticipated to continue leading the global market over the forthcoming years, notes the study.

The review is based on a report by Transparency Market Research (TMR), titled “Automotive Wiring Harness Market (Vehicle Type – Light Vehicle and Heavy Vehicle; Application - Chassis Wiring Harness, HVAC Wiring Harness, Engine Wiring Harness, Body Wiring Harness, and Speed Sensors Wiring Harness) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”

The global market for automotive wiring harness is segmented into:

By Vehicle Type 

  • Light Vehicles
  • Heavy Vehicles

By Application 

  • Chassis Wiring Harness
  • HVAC Wiring Harness
  • Engine Wiring Harness
  • Body Wiring Harness
  • Speed Sensors Wiring Harness

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

About Us

“Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website: https://www.transparencymarketresearch.com