Market Research Report
Global Electric Vehicle Wiring Harness Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||544815|
|Published||Content info||190 Pages
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|Global Electric Vehicle Wiring Harness Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: August 9, 2017||Content info: 190 Pages||
A wiring harness is a collection of wires, connectors and terminals which is present in the entire vehicle. Electric vehicle wiring harness transmits information and electric power. The global electric vehicle wiring harness market is expected to rise at a CAGR of over 46% during the forecast period 2016-2023. The wiring harnesses provides several advantages over loose wires and cables such as stretchability over several kilometers, better secured against adverse effects of abrasions, vibrations and moisture. The increasing electric vehicle market is the key factor contributing to the increase in the demand of electric vehicle wiring harness thereby driving the growth of the electric vehicle wiring harness market.
Asia Pacific is the leading hub for electric vehicle wiring harness manufacturers. Most of the major market players are located in japan. Increase in the usage of speed sensors and HVAC wiring harness is the key factor for the increasing demand for premium vehicles. India and China are also the emerging markets for electric vehicle wiring harness as they manufacture large number of light and heavy vehicles. With an estimated stock exceeding 200 million units, China is the global leader in the electric 2-wheelers market and almost the only relevant player globally and is also leading the global deployment of electric bus fleets, with more than 170 000 buses already circulating today.
The global electric vehicle wiring harness market is influenced by the presence of leading companies such as Delphi Automotive (UK), Leoni AG (Germany), Sumitomo electric wiring system(Japan), TE Connectivity(Switzerland), Furukawa Electric(Japan) etc. Product launch, Joint ventures, Mergers and Acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.
Global electric vehicle wiring harness market report covers segmentation analysis of wiring harness type and application. Report further covers segments of wiring harness type which includes medium low voltage and high voltage wiring harness. Among these segments, the high voltage wiring harness is the leading segment. Whereas, applications of electric vehicle wiring harness include chassis harness, body harness, engine harness, HVAC, speed sensor and others. Among these applications, HVAC segment is expected to grow at the highest CAGR of about 12% in terms of revenue during the forecast period 2016-2023. In 2015, the chassis application segment is accounted for over 40.0% share of the global market and is expected to continue its dominance in the global market till the end of 2025. Increase in the usage of speed sensors and HVAC wiring harness is the key factor for the increasing demand for premium vehicles.