NEW YORK, Nov. 7, 2023 /PRNewswire/ — The automotive wiring harness market is estimated to grow by USD 12.28 billion from 2022 to 2027, growing at a CAGR of 4.68%. The automotive wiring harness market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive wiring harness market are Aptiv, Assembly Solutions Ltd., Coroplast Fritz Muller GmbH and Co. KG, Cypress Holdings Ltd. dba Cypress Industries, Eugen Forschner GmbH, Fritz Draxlmaier GmbH, and Co. KG, Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Kromberg and Schubert Automotive GmbH and Co. KG, Lear Corp., Leoni AG, Minda Corp. Ltd., Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, Prysmian Spa, Sumitomo Corp., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
- Aptiv – The company offers automotive wiring harnesses that design robust and innovative connection systems available which helps in optimizing the cost and performance of the entire electrical system.
- Fujikura Co. Ltd. – The company offers automotive wiring harnesses for vehicles, transmitting power and signals to electric equipment, It has a tendency to increase its size and weight due to the growth of new equipment and electric systems.
- Furukawa Electric Co. Ltd. – The company offers automotive wiring harnesses for automobiles to bundle multiple electric wires together and are routed in every corner of automobiles mainly for electric power supply and signal transmission.
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By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa.
- APAC is estimated to contribute 54% to the growth of the global market during the forecast period. The aim of the M and HCV producers is to increase the penetration rate for driver-assisted steering systems in their vehicles. In emerging APAC markets such as India, Indonesia, and others, OEMs M and HCV are rapidly moving towards equipping their vehicles with systems such as ABS, rearview mirrors, electric adjustment, HVAC, anti-glare mirrors, etc. Hence, these factors are expected to drive market growth in the region during the forecast period.
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- Impactful driver- Increasing penetration of automotive electronics
- Key Trend – Advances in autonomous vehicles
- Major Challenges – Stringent regulatory norms and standards for automotive wiring
- By application, the market is classified into chassis, engine, HVAC, sensors, and body. The market share growth of the chassis segment will be significant during the forecast period. The revenue generated by the market in focus is based on the high use of cable harnesses and control systems for chassis. The growth of the segment’s revenue is driven by the increasing integration of vehicle electronics in vehicle chassis control systems. The electrification of vehicle control systems has been due to factors like technological progress and innovation. In addition, an important role has been played by the growing customer demand and increasing competition in the world auto market in driving the adoption of electronics chassis systems. Hence, these factors are expected to drive segment growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
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Automotive Wiring Harness Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.68%
YoY growth 2022-2023 (%)
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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