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(Transportation-News.com, October 22, 2019 ) Market Overview:
A wiring harness is an organized set of wires, terminals, and connectors that run throughout the entire vehicle and relay information and electric power, thereby playing a critical role in “connecting” a variety of components. Power and information travel through this network much like the circulatory and central nervous systems of the human body.
Market Dynamics:
The Automotive Wiring Harness market growth is primarily driven by the rise in electric vehicle sales all around the world owing to the favorable government policies to reduce pollution by switching to electric vehicles. According to International Energy Agency (IEA), in 2017, more than one Billion EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share.
However, the high maintenance cost due to the rusting problem of the metal that will hinder the growth of the Automotive Wiring Harness market for the forecast period. Another reason is the availability of the alternate connectors better than harness.
Market Segmentation:
By Component, the Automotive Wiring Harness market is segmented into Electric Wire, Connectors, Terminals, and Others. Terminals have the dominant share in the Component segment and are expected to retain its dominance in the forecast period.
By Vehicle Type, the Automotive Wiring Harness market is segmented into Two Wheelers, Passenger Cars, and Commercial Vehicles. Passenger Cars have the dominant position in the Automotive Wiring Harness Vehicle type segment and is expected to retain its dominance in the forecasted period due to the large demand and sales of the passenger cars all around the world. However, the rising pollution is creating demand for commercial electric vehicles which will boost the market of wiring harness for the commercial vehicle segment in the forecast period.
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Geographical Analysis:
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
Asia-Pacific holds the largest market share for Automotive Wiring Harness Market due to the increasing sales of passenger cars in the region. The major contributor to the market share in China, Japan, and India. The rise in sales of passenger cars in the region is having direct impact on the automotive wiring harness market.
Europe is after Asia-Pacific in terms of market share in the Automotive Wiring Harness market, due to rise in the production and sales of the commercial vehicles in the region. Germany, Spain, and France are having large sales in commercial vehicles. With the growing need for various features such as HVAC and other safety systems in the commercial vehicles will be boosting the market for the wiring harness market for the forecast period.
Competitive Analysis:
The major players include Delphi Automotive LLP, Furukawa Electric Co. Ltd, Sumitomo Electric Industries Ltd., Lear Corporation, and THB Group. Other key players in the market include SPARK MINDA, Samvardhana Motherson Group, Nexans Auto electric, Yazaki Corporation, and Yura Corporation.
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Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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