According to the latest report by IMARC Group, The global automotive wiring harness market reached a value of US$ 76.1 Billion in 2021.

SHERIDAN, WYOMING, UNITED STATES, November 10, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group “Automotive Wiring Harness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which comprises insights on the global automotive wiring harness market growth. The global automotive wiring harness market reached a value of US$ 76.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 99.7 Billion by 2027, exhibiting at a CAGR of 4.4% during 2022-2027.

Market Overview:

An automotive wiring harness represents an electrical assembly of various vehicle components, such as connectors, wires, terminals, etc., that are utilized to transmit data and power to a single system. Some of the transmitted information includes the operation and performance of the automobile, along with sending and receiving sensor signals. An automotive wiring harness ensures reliable transmission of energy even while being subjected to high temperatures, noise, vibrations, moisture, etc. Consequently, it finds wide-ranging applications in the wiring of engines, sensors, chassis, heating, ventilation and air conditioning (HVAC) systems, etc.

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The growing adoption of electric vehicles (EVs), on account of the elevating environmental consciousness, is primarily driving the automotive wiring harness market. In addition to this, the inflating demand for numerous product variants, including aluminum harnesses that aid in reducing vehicular weight, improving fuel economy, minimizing carbon emissions, etc., is further catalyzing the market growth. Moreover, the shifting consumer preferences from conventional wiring systems towards automotive wiring harnesses, owing to their highly secure and reliable connections, are acting as significant growth-inducing factors. Besides this, the rising investments in R&D activities aimed at developing cost-effective optical fibers are also augmenting the global market. Furthermore, the increasing integration of automobiles with Advanced Driver Assistance Systems (ADAS) for securing safety sensors, such as automated control systems and blind-spot detection in several models, is anticipated to fuel the automotive wiring harness market over the forecasted period.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Delphi Technologies (BorgWarner Inc.)
Furukawa Electric Co. Ltd.
Lear Corporation
Leoni AG
Nexans Autoelectric GmbH
PKC Group Plc (Motherson Sumi Systems Ltd.)
Samvardhana Motherson Automotive Systems Group B.V.
Sumitomo Electric Industries Ltd.
THB Group (AmWINS Group, Inc)
YAZAKI Corporation
YURA Corporation

Explore full report with table of contents: http://bit.ly/3wNEH8A

The report has segmented the market on the basis of Product Type, End-User and Region.

Breakup by Application:

Body Wiring Harness
Engine Wiring Harness
Chassis Wiring Harness
HVAC Wiring Harness
Sensors Wiring Harness
Others

Breakup by Material Type:

Copper
Aluminum
Others

Breakup by Transmission Type:

Data Transmission
Electrical Wiring

Breakup by Vehicle Type:

Two Wheelers
Passenger Cars
Commercial Vehicles

Breakup by Category:

General Wires
Heat Resistant Wires
Shielded Wires
Tubed Wires

Breakup by Component:

Connectors
Wires
Terminals
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Also Read: Top 10 Largest Automotive Wiring Harness Manufacturers In World

Frequently Asked Questions (FAQs):

1. What is the expected growth rate of the global automotive wiring harness market during 2022-2027?

Answer: We expect the global automotive wiring harness market to exhibit a CAGR of 4.4% during 2022-2027.

2. What are the key factors driving the global automotive wiring harness market?

Answer: The rising applications of automotive wiring harness to provide secure and reliable connections as well as superior performance of the vehicle are primarily driving the global automotive wiring harness market.

3. What is the breakup of the global automotive wiring harness market based on the application?

Answer: Based on the application, the global automotive wiring harness market has been bifurcated into body wiring harness, engine wiring harness, chassis wiring harness, HVAC wiring harness, sensors wiring harness, and others. Among these, chassis wiring harness exhibits a clear dominance in the market.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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