Market Research Report
Global Automotive Wiring Harness Market Research Report By Material Type, By Component Type, By Application, By Vehicle Type
|Published by||Market Research Future||Product code||759941|
|Published||Content info||118 Pages
Delivery time: 1-2 business days
|Global Automotive Wiring Harness Market Research Report By Material Type, By Component Type, By Application, By Vehicle Type|
|Published: April 19, 2018||Content info: 118 Pages||
A wiring harness is an assembly of wires, terminals and connectors that run all over the vehicle and transmit signals and electric power, to connect a variety of components. They are a set of loose wires congregated into a single covering for a more organized system. They assist in starting the engine, lights, meters, navigation systems, power windows and doors, and other devices in the vehicle. In addition, wiring harness are used to set up electric circuits in automobiles and are designed to provide effective functioning of operations in the extreme conditions. The wiring harness in automotive offers various benefits including reduced installation time, improved fuel efficiency, and reduced risk of shorts in electrical system. In addition, a harness secures wires and cables against the adverse effects caused by abrasions, moisture, and vibrations in the car. Currently, increasing demand for latest systems in the vehicle coupled with rising trend of assimilating advanced features for improved performance and driving experience is anticipated to propel the market demand for wiring harness in automotives. In addition, technological advancements in the automotive electrical systems owing to increasing trend of mounting additional features in the vehicles is projected to drive the market demand for automotive wiring harness. Moreover, growing complexities of on-board electronics coupled with stringent regulations to reduce greenhouse gas emissions and fluctuating fuel prices are anticipated to escalate the market demand for automotive wiring harness over the forecast period. However, factors such as high cost of wiring harness and over-heating or short circuit of the wiring harness are some factors expected to hamper the market growth during the forecast period.
The global automotive wiring harness market is estimated to register a 6.35% CAGR during the forecast period from 2018 to 2023. In 2016, The global automotive wiring harness market was led by Asia-Pacific with a 45.22% share, followed by Europe and North America with shares of 25.33% and 22.01% respectively. Asia-Pacific is expected to be the fastest-growing market for automotive wiring harness during the forecast period. Increase in production coupled with the increased demand for advanced driver assistance systems in the developing nations of the region such as China and India is expected to increase the regional demand for automotive wiring harness. Moreover, the presence of a large number of long-established automotive manufacturers in Europe is anticipated to propel the demand for automotive wiring harness in the region. In addition, immense demand of commercial vehicles in United States is expected to enable the growth of the auto components suppliers including the automotive wiring harness in North America over the forecast period.