Market Research Report
Global Wiring Harness Market Share, Size - Segmentation by Application, Wire, Vehicle and by Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||708624|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Global Wiring Harness Market Share, Size - Segmentation by Application, Wire, Vehicle and by Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: September 1, 2018||Content info: 100 Pages||
The global automotive wiring harness market was valued at USD 73.89 billion in 2017 and is anticipated to reach USD 107.15 billion by 2023, registering a CAGR of 6.39% over the forecast period of 2018-2023. In both the recent past and the present, the use of wiring harness in automotive has been going through tremendous technological developments. Different new environment-friendly technologies along with the features of safety and comfort are applied to recent cars. For instance; high-voltage wiring harness systems for HEVs and EVs and weight-saving wiring harnesses systems designed to increase fuel efficiency, are attracting strong demand.
As the assembly of wiring harnesses is majorly performed manually in the automotive industry, which causes high labour costs and also there are very high chances of mistake or imperfection. For reducing these disadvantages, both industry and research undertook massive efforts to enhance the automation in the assembly of wiring harness modules. Fully automated crimping and block loading machines are already being successfully used in the industry for automated assembly of small wiring harnesses. In the past, weight savings and thinning of automotive wires have been achieved through contraption, majorly for thinning insulation material and devising conductor structures, which includes circular compressed structure. However, the industry requires newer techniques for the making the market more profitable and efficient.
The government of United States, China, France, and Germany has already implemented government laws and regulations for vehicular emission, and have commanded automobile manufacturers to use advanced technologies to combat high emission levels in vehicles. The emission level majorly depends on the overall weight of the car. Aluminum is used for vehicle electrification for reducing the overall weight of the vehicle, which leads to enhancement in fuel economy and reduces the CO2 emissions. The lightweight property of aluminum is making aluminum more demanding than copper. Along with the large cross-section wires for power cables, where aluminum conductors are already in use, the intermediate aluminum cable cross section of 2.5 mm2 to 6.0 mm2 gives enhanced potential for vehicle implementation to achieve weight-saving targets.
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