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Automotive Wiring Harness Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities and Forecast to 2031

 Substantial increase in the investment for automated driving activities and development of electric vehicles charging infrastructure across the globe are expected to remain key defining factors in the global automotive wiring harness market. As per FMI’s analysis, the global automotive wiring harness sales are set to exceed US$ 48 Bn in 2021, whereas in the long-term, revenues will grow at 9.4%. FMI’s latest edition of the report reveals latest perspectives, along with a detailed analysis of how COVID-19 induced slowdown will impact future sales.

The COVID-19 pandemic crisis has severely affected the global economic growth, resulting in complete shutdown manufacturing activities and disruptions in the supply chain networks. However, automotive wiring harness market is expected to recover sharply as the economic activity resumes post the containment of pandemic.

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Key Takeaways

  • Automotive wiring harness demand is driven by healthy demand from automotive production in countries such as Germany, China, Japan and France. Investments to reduce CO2 emission and increase passenger safety are propelling demand
  • Leading automotive wiring harness manufacturers are focused on developing technologically advanced harnesses to improve safety and reduce downtime
  • Increasing preference of end users towards use of efficiently operating vehicles with advanced HVAC wiring harness systems, sensors wiring harness and chassis wiring harness is expected to fuel the market growth during the forecast period
  • East Asia and Europe is expected to lead the market in terms of market share owing to prevalence of major automotive wiring harness companies in the Germany and China. Furthermore, thriving development in the automotive industry in European countries such as U.K., France etc. results in substantial growth rate for the Automotive Wiring Harness demand growth

 “Manufacturers are focused on developing new wires and cables which occupy less space and are lighter in weight with cost-efficient manufacturing techniques. Raw materials are also being blended to improve the features of the final product. In addition, increase in technology adoption, vehicle customization and various investments and merger strategies to expand their business can be attributed to rise in sales of vehicles which upsurge the automotive wiring harness market. These activities are augmenting the adoption of automotive wiring harness and creating positive prospects for the market growth.” says FMI analyst.

Competitive Landscape

The market is witnessing significant consolidation, in which the leading players account for more than half of the share. The diffusion of small regional players is expected to increase competitive intensity during the forecast period. Some of the key players in the market are LEONI Group, Samvardhana Motherson Group, Sumitomo Electric, Yazaki Group and Fujikura Ltd. These players have considerable hold over market share, and have longstanding relationships with a number of leading end users, giving them a competitive advantage.

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Key Segments

Product Type

  • Chassis & Safety
    • Conventional Chassis
    • Semi-Forward Chassis
    • Full Forward Chassis
  • Body
    • Roof
    • Door & Window
    • Facia
    • Seat
    • Interior
  • HVAC
  • Engine
  • Sensors

Vehicle Type

  • Passenger Cars
    • Compact
    • Mid-Sized
    • SUV
    • Luxury
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Electric Vehicles
    • BEV
    • PHEV

Sales Channel

  • First Fit
  • Replacement

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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Key Questions Answered in the Report

Which is the most lucrative market for automotive wiring harness?

China currently leads the global market for automotive wiring harness. Sales in China will be over one fifth of total demand throughout the forecast period.

Which are the top-selling automotive wiring harness?

Chassis & Safety are highly sought-after in any vehicle production. The demand for Semi-Forward Chassis is expected to remain high in the near future, especially due to its proliferated usage across electric and conventional vehicles.

Which vehicle type remains lucrative for automotive wiring harness manufacturers?

Automotive wiring harness are widely used in passenger cars. Their usage in electric cars is anticipated to remain key factor impacting the overall market growth.

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Off-Highway Vehicle (OHV) Telematics Market : As per the FMI’s study, off-highway vehicle (OHV) telematics market is poised to expand at an impressive 15.40% CAGR during the assessment period of 2021 and 2031. The market valuation will reach US$ 424 Mn in 2021.

Automotive Lead Acid Battery Market : The global automotive lead acid battery sales is projected to increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031, according to the latest research by Future Market Insights (FMI). The report estimates the market to expand at a steady CAGR of over 3% through the course of 2021-2031.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Future Market Insights
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Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/global-automotive-wiring-harness-market
Press Release Source: https://www.futuremarketinsights.com/press-release/global-automotive-wiring-harness-market

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