The global EVWHS market to grow at a CAGR of 45.86% during the period 2017-2021.
The report, Global EVWHS Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
EVs are propelled by electric motors of the electric powertrain, powered from the battery pack. Pure EVs are completely propelled by these motors, whereas in hybrid vehicles, the motor starts the vehicle initially and then used whenever an additional torque is required (during sudden high acceleration). Electric motors have the greatest torque at start up, and this feature can eliminate the need for transmission as no shifting of power is needed for electric motors.
According to the report, automating systems in manufacturing facilities will not only improve the quality of products but at the same time give uniformly manufactured products with less manual errors. Automation ensures fixed productivity in any period with fixed speed for each process. This will reduce the cost of manufacturing due to the material waste reduction and labor cost reduction. There is demand for miniaturized wiring harnesses, which cannot be manufactured with acceptable quality using a manual manufacturing process. The manual process is inaccurate owing to the human error component involved. The need for skilled labor will also increase owing to increase in demand for miniaturized wiring harnesses, which demands higher quality. This will further increase the labor cost.
Growing EV sector to spur demand for high-voltage WHSs
Adoption of automation to reduce manufacturing cost of automotive wiring harnesses
Shifting focus of OEMs toward development of autonomous electric vehicles (AEVs)
Increasing regulations for road safety pushing more electrification
Lack of international standards for EVWHS
Requirement of complex advanced technologies for EVWHS
Frequent change in market dynamics leading to short product life cycle
Consolidation of ECUs to reduce wiring harnesses and connectors content in automobiles