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(Transportation-News.com, October 14, 2017 ) Market Size and Forecast
The automotive wiring harness market is expected to grow at a CAGR of 6.5% over the forecast period i.e. 2017-2024. This market is driven by the rapid growth of automobile industry owing to various technologically innovative features implemented in vehicles. Light vehicle segment is anticipated to acquire largest market share with the highest CAGR, during the forecast period, due to high production value.
The most prominent regional markets include North America and Asia-Pacific, which together constituted around 60.4% share in the total revenue of automotive wiring harness market. Asia–Pacific region is expected to dominate the market during the forecast period aided by China and India the fastest developing countries. Increase in use of speed sensors wiring harness and HVAC wiring harness owing to high demand for premium vehicles is heightening the demand for the automotive wiring harness. Infrastructural development in this region are also anticipating the market growth, as it has fostered the demand for heavy vehicles that require technology elevated automobile wiring for heat insulation.
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In Europe, the market is projected to attain maturity as most of the vehicles are with high end electronics and safety features. In Western Europe, Germany is estimated to dominate the Western Europe automotive wiring harness market. However, Eastern Europe and North American countries such as Mexico and Canada still have the potential market due to increasing vehicle production capacity and commissioning of new vehicle assembly plants.
Market Segmentation
Our in-depth analysis segmented the automotive wiring harness market in the following segments:
By Application:Body wiring harness, Engine wiring harness, Chassis wiring harness, HVAC wiring harness, Sensors wiring harness
By Vehicle Type: Heavy Vehicle, Light Vehicle
By Material:Copper, Aluminum, Others
By Region
Global automotive wiring harness Market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis, Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis, Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis, Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis, Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Increasing installation of the advanced driver assistance system and stringent automotive norms taken by the government of various countries is anticipated to foster the growth of automotive wiring harness market. Further, mounting fuel costs and strict government regulations regarding CO2 emissions are boosting demand for electric vehicles in North America, Western Europe, Eastern Europe and Asia Pacific. Government across various geographies have mandated use of certain electronic safety features, such as Anti-Lock Braking System (ABS), Electronic Stability Program (ESP) and other features, in automotive. Furthermore, increase in demand for high-end electronic and safety features in vehicles, mainly passenger cars, along with cost reduction and enhanced reliability, is likely to impel the demand for automotive wiring harnesses globally.
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Use of automotive ethernet by automotive OEMs represents a new trend in the external as well as internal electronic devices connectivity in an automobile. Therefore, these automotive ethernet diminishes the use of complex wiring harness structures to a great extent and, thereby, may act as a restraint for growth of the global automotive wiring harness market in the coming years.
Key players
The major key players for automotive wiring harness are as follows:
Sumitomo electric industries, Lear corporation, Delphi Automotive PLC
Yazaki corporation, Furukawa electric company, Leoni AG
Samvardhana motherson group PKC group THB group, Minda Automotive, Yura Corporation, Kromberg & Schubert
To Know More About This Research, Kindly Visit: https://www.researchnester.com/reports/automotive-wiring-harness-market-global-demand-analysis-opportunity-outlook-2024/303
Research Nester
Ajay Daniel
+1 6465869123
news@researchnester.com
Source: EmailWire.Com 
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