Automotive Secondary Wiring Harness Market - Expected to Reach $33.7 Billion by 2022
DUBLIN, October 5, 2017 /PRNewswire/ --
The "Automotive Secondary Wiring Harness Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The automotive secondary wiring harness market is projected to grow at a CAGR of 20.96% from 2017, to reach USD 33.78 Billion by 2022. Rising demand for compact wiring and emerging new technologies have fueled the growth of the automotive secondary wiring harness market globally. The growing trend of electric vehicles is also a major factor that has contributed to the growth of this market.
Governments of various countries have mandated use of certain electronic safety features such as Anti-Lock Braking System (ABS), Electronic Braking System (EBS), and Electronic Stability Program (ESP) in vehicles. For instance, in April 2015, Indian government has made the ABS mandatory for commercial vehicles (CVs). These norms are propelling the demand for high-end electronic and safety features in vehicles, mainly in passenger cars (PC), and are going to raise the demand for secondary automotive wiring harnesses globally. At present, copper is predominantly used as conducting material in wiring harness. However, in some manufacturing processes, stainless steel is added with copper to enhance strength and reduce weight. The advanced models of infotainment systems are powered by optical fiber to improve performance and safety, and most of wire harnesses these days are coated with heat-shrinkable tubing protection against heat and fluctuating voltage.
The engine harness segment is estimated to lead the automotive secondary wiring harness market, by application type, during the forecast period. The high demand for the engine harness is propelled by systems such as start/stop systems and electronic fuel injectors. Passenger cars segment is estimated to lead the market, by vehicle type. The market for passenger cars is growing because of the increasing production of passenger cars in countries such as China and India.
The most prominent regional markets include Asia Pacific and North America, which together constituted the maximum share in the total revenue of automotive secondary wiring harness market. Asia Pacific region is expected to dominate the market during the forecast period, aided by China and Indiathe fastest developing countries. Increase in use of advanced systems and rising vehicle production owing to high demand for premium vehicles is intensifying the demand for the automotive secondary wiring harness. The growing infrastructural development in this region is also supporting the market growth, as it has raised the demand for heavy vehicles that require advanced technology automotive wiring for heat insulation. In Europe, the market has already reached maturity level because most of the vehicles are equipped with high-end electronics and safety features. In Europe, Germany is estimated to dominate the automotive secondary wiring harness market. In North America, Mexico and Canada are contributing to the market growth with increasing vehicle production capacity and commissioning of new vehicle assembly plants.
Companies Mentioned
- Delphi Automotive Llp.
- Furukawa Electric Co., Ltd.
- Lear Corporation.
- Leoni Ag
- Nexans
- Samvardhana Motherson Group.
- Spark Minda, Ashok Minda Group.
- Sumitomo Electric Industries, Ltd.
- THB Group.
- Yazaki Corporation.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Secondary Wiring Harness Market, By Application Type
7 Automotive Secondary Wiring Harness Market, By Vehicle Type
8 Automotive Secondary Wiring Harness, By Electric Vehicle Type
9 Automotive Secondary Wiring Harness Market, By Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/jj9bnb/automotive
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