What is Automotive Wiring Harness?
Automotive wiring harness is an organized set of electrical wires, connectors or an electrical wiring system, which is used to convey electricity and signals in automobiles. It functions as blood vessels and nerves of the human body. Wiring harness is used in various industries, but the automotive industry is being one of the largest consumers. These harnesses combine different electrical devices and electronic devices into a single system. The automotive wiring harness has applications in the two-wheelers, three-wheelers, cars, utility and commercial vehicles. They are designed as per requirements in the automotive.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Sumitomo (Japan), Yazaki (Japan), Furukawa Electric Co., Ltd. (Japan), Aptiv (United Kingdom), Lear Corporation (United States), Leoni AG (Germany), THB Group (United States), Nexans Autoelectric (Germany), Samvardhana Motherson Group (India) and Yura Corporation (South Korea) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Body Wiring Harness {Dashboards, Door Locks, Power Windows and Interior Electrical Components}, Engine Wiring Harness {Speed Sensors, Lock Breaking Systems, Cruise Control Systems and Fuel Injection Systems} and Chassis Wiring Harness {Front, Rear and Main Harnesses}) , by application (Two Wheelers, Passenger Vehicle and Commercial Vehicle) and major geographies. Research Analyst at AMA predicts that Japanese Manufacturers will contribute to the maximum growth of Global Automotive Wiring Harness market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Automotive Wiring Harness market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Sumitomo (Japan), Yazaki (Japan), Furukawa Electric Co., Ltd. (Japan), Aptiv (United Kingdom), Lear Corporation (United States), Leoni AG (Germany), THB Group (United States), Nexans Autoelectric (Germany), Samvardhana Motherson Group (India) and Yura Corporation (South Korea).
Market Overview:
On 17th April 2019, Lear Corporation, a global automotive leader in seating and electrical and electronic systems completed the acquisition of Seattle-based Xevo Inc., a leading automotive software supplier that develops solutions for cloud, car, and mobile devices. The acquisition of Xevo will enhance Lear's capabilities in software, services, and data analytics and strengthen its market position in connectivity.
Influencing Trend:
Emerging Market of Semiautonomous and Autonomous Vehicles
Market Growth Drivers:
Growing Automotive Industry Worldwide, Improves Fuel Efficiency and Superior Performance, Rising Demand for Electric Vehicles and Demand for Vehicles with Improved and Advanced Features
Challenges:
Fluctuating Prices Of the Raw Materials and Overheating and Short Circuit of the Wiring
Restraints:
High Cost of the Wiring Harness with Advanced Technology and Corrosion Decreasing the Life Span Of the Wiring
Opportunities:
High Growth Potential in Developing Countries and Rising Demand from Electric Vehicle Market
Key highlights of the Global Automotive Wiring Harness market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Automotive Wiring Harness market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Automotive Wiring Harness market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Automotive Wiring Harness Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Wiring Harness market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Automotive Wiring Harness market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Automotive Wiring Harness Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.