Automotive Wiring Harness Market Worth $135.2 Billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 23, 2019 /PRNewswire/ -- According to the new market research report "Automotive Wiring Harness Market by Application (Engine, Dashboard/Cabin, Body & Lighting, Airbag, HVAC, Battery), Propulsion, Vehicle (PC, LCV, Buses, Trucks), EV type, Component (Connectors, Wires, Terminals), Material, and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Automotive Wiring Harness Market is estimated to be USD 85.9 billion in 2019 and projected to reach USD 135.2 billion by 2027, at a CAGR of 5.8% during the forecast period. The market growth is driven by factors such as the rise in trend of integrating advanced features for improving performance and user driving experience and growing demand for electric vehicles.

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The passenger car segment is estimated to be the largest market in the Automotive Wiring Harness Market during the forecast period, by vehicle type

The passenger car segment is estimated to be the largest segment of the Automotive Wiring Harness Market during the forecast period, by volume as well as value. The growing trend of integrating advanced features to enhance the driving experience and vehicle safety have contributed to the growth of the passenger car segment in the Automotive Wiring Harness Market.

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The HVAC segment is estimated to be the fastest growing market in the Automotive Wiring Harness Market during the forecast period, by application

The HVAC application segment is estimated to witness the fastest growth in the Automotive Wiring Harness Market because of the rise in adoption of HVAC applications in commercial vehicles such as buses and trucks. Vehicle manufacturers are now offering comfort and convenience features in LCVs, buses, and trucks, which is driving the growth of HVAC applications in the Automotive Wiring Harness Market. Also, commercial vehicles require large wiring harnesses because of the long vehicular structure, thereby pushing the demand for wiring harness globally.

Asia Pacific to be the largest Automotive Wiring Harness Market

The Asia Pacific is projected to be the largest Automotive Wiring Harness Market during the forecast period. The market growth in the region can be attributed to the growth of the automotive industry as a result of the strengthening of the economy in countries like India, China, South Korea, and Thailand. Also, rapid urbanization and improved lifestyle of consumers have contributed to the inflating demand for the passenger car segment in the Automotive Wiring Harness Market in the region.

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The key players in the Automotive Wiring Harness Market are Yazaki (Japan), Sumitomo (Japan), Aptiv (UK), Leoni (Germany), Lear (US), Furukawa (Japan), Samvardhana Motherson (India), Nexans (France), Fujikura (Japan), and THB (China).

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