As per Zion Market Research, the — global automotive wiring harness market was capitalized at US$69,743 million in 2019 and is estimated to reach US$1,01,787 million by 2026, augmenting at a CAGR of about 5.5% during the forecast period. The automotive wiring harness is electrically-powered arrangement of different modules in a vehicle that broadcasts information and power to a particular order. It has a key role in sending data regarding the vehicle’s process, transmitting & obtaining signals of sensor, and providing power. The modules that are arranged include electrical devices, speed sensors, HVAC (heating, ventilation and air conditioning) systems, and other electronic modules.
Some of the key players in the market are Furukawa Electric Co. Ltd., Lear Corporation, Delphi Automotive LLP, Sumitomo Electric Industries, Ltd., SPARK MINDA, THB Group, Nexans Autoelectric, Samvardhana Motherson Group, Yura Corporation, Yazaki Corporation, Fujikura Ltd, Leoni Ag, PKC Group, and QINGDAO SANYUAN GROUP.
Robust Development In The Automobile Industry To Boost Global Automotive Wiring Harness Market
The main factor compelling the automotive wiring harness market is the robust expansion of the automobile industry as a result of various technologically superior characteristics implemented in vehicles. The high competition exists amongst car producers to design cars with different electronic gadgets and safety features. On contrary to the usual wiring methods, the automotive wiring harness offers reliable and secure connections, amongst such gadgets. Additionally, using such wiring harness systems enhances the fuel competence of the vehicle and is in compliance with the existing administration policies for fuel usage and emissions. These gains of automotive wiring harness in return are boosting the market development. The surge in deployment of safety sensors, like automated steering control systems and blind spot detection, offers several opportunities for market growth.
The global automotive wiring harness market is bifurcated on the basis of application type, vehicle type, and regional analysis. Based on the application type, the market is divided into body wiring harness, chassis wiring harness, sensors wiring harness, engine wiring harness, and HVAC wiring harness. Based on the vehicle type, the market is divided into commercial vehicles, passenger cars, and two wheelers.
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The Asia Pacific Region Will Witness Massive Growth In The Global Automotive Wiring Harness Market
Based on the geographical analysis, the global automotive wiring harness market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The surge in the use of HVAC wiring harness and speed sensors wiring harness due to rising demand for premium vehicles and augment of upper middle class across the Asia Pacific region is advancing the demand for the automotive wiring harness. The infrastructural growth across this region is also propelling the market development since it surges the demand for heavy vehicles that need technically upgraded automobile wires & cables having heat insulation.
The global automotive wiring harness market is segmented as follows:
By application type:
Chassis Wiring Harness
Body Wiring Harness
Engine Wiring Harness
HVAC Wiring Harness
Sensors Wiring Harness
By vehicle type:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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