Skip to main content

Automotive Wiring Harness Market Revenue Growth Predicted by 2032

 Based on the market research conducted by FMI, the automotive wiring harness market is expected to grow at a considerable CAGR of 7.9% through 2032.

The automotive wiring harness market is expected to hit US$ 110.78 billion by 2032. The market is valued at US$ 51.79 billion as of 2022, and in 2021 the automotive wiring harness market valuation was US$ 48 billion.

There has been an increase in automotive exploration activities across the globe. Thanks to a vast number of investments made in this niche. The flexible wires that are used in this application help in the improvement of power delivery. All of these might surge the sales of automotive wiring harness going forward.

Moreover, the combined wiring of different electrical and electronic systems into a single system is helpful in signal transmission and driving different kinds of electrical appliances. This has undoubtedly allowed companies to achieve the aim of cost-cutting. This has also captured the attention of manufacturers from other sectors, which might improve the automotive wiring harness market outlook in the future.

Moreover, there has been a surge in the usage of autonomous vehicles, as these help in reducing the cases related to accidents. Additionally, governments worldwide are investing millions of dollars in these autonomous vehicles.

The automotive wiring harness is also an integral part of these autonomous vehicles. This is expected to increase the demand for the automotive wiring harness.

Thus, from the insights obtained from FMI research, it can be inferred that, “Increased focus on passenger safety, coupled with an increase in the number of electric vehicles worldwide, and many other factors are expected to increase the demand for automotive wiring harnesses.”

Key Takeaways:

  • The automotive wiring harness market is expected to grow at a CAGR of 7.9% during the forecast period.
  • The market was valued at US$ 48 billion in 2021.
  • The automotive wiring harness market is valued at US$ 51.79 billion in 2022.
  • The automotive wiring harness market is anticipated to be valued at US$ 110.78 billion in 2032.
  • Based on the product type, the Chassis & Safety Segment is expected to lead the market during the forecast period.
  • Based on the vehicle type, the Passenger Cars had the Highest automotive wiring harness market share of nearly 49% in 2021.
  • Asia Pacific currently dominates the market, with a Market Share of whopping 51%
  • If we talk about the largest market based on the country, it is China.

Competitive Landscape of the Automotive Wiring Harness Market

The automotive wiring harness market is growing with leading players offering everything they can. Thus, the market players have kept customer delight before everything.

In order to offer best possible services, the key players are looking at establishing strategic collaboration with global players and local regional players. This is done to gain a good understanding about the local market as well as the global market. Additionally, the growth of electric vehicle industry and automobile industry is a great news for the key players.  

Some of the recent developments are:

  • In July 2022, Leoni defines clear targets with ‘ReWire’ on its way to offer highest form of sustainability, based on Climate neutral by 2045 agenda.
  • In August 2022, Sumitomo Electric announced that it would take part in CIGRE 2022 technical exhibition, which is the worlds largest power system technology. The exhibition is scheduled to be held from August 29 to September 2, 2022 in France.

Key Companies Profiled in the Automotive Wiring Harness Market

  • LEONI Group
  • Samvardhana Motherson Group
  • Sumitomo Electric
  • Yazaki Group
  • Fujikura Ltd.  
  • Lear Corporation
  • Furukawa Electric Co. Ltd 
  • YURA Tech Corporation 
  • Nexans 

Key Segments Profiled In The Automotive Wiring Harness Market

By Product Type:

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

By Vehicle Type:

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

By Sales Channel:

  • First Fit
  • Replacement

By Region:

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

For More Info@ https://www.futuremarketinsights.com/reports/global-automotive-wiring-harness-market

Comments

Post a Comment

Popular posts from this blog

Sales of Commercial Aircraft Video Surveillance Systems to Decelerate in 2020 as COVID 19 Pandemic Takes its Toll on Global Market

  Market Introduction Future Market Insights, in its recent study on the  Commercial Aircraft Video Surveillance Systems market,  offers a detailed value-volume analysis of the Commercial Aircraft Video Surveillance Systems market on the basis of various segments such as product type, application, aircraft type, assembly and region. In terms of product type, cabin surveillance systems is projected to be a lucrative segment in terms of growth opportunities and are mostly being installed in the line fit assembly applications in the commercial aircraft video surveillance systems. To Get the Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5202 There has been significant growth in the number of freighter planes due to expanding e-commerce and pharmaceutical sectors and outperforming global trade growth. From a macroeconomic point of view, demand for commercial aircrafts is anticipated to more than double in the next two decade...
1 comment
Read more

Automotive Battery Management System Market : Technological Growth Map over Time

  Automotive Battery Management System Market is estimated to reach US$ 15.3 Bn by the end of 2029 In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth. According to a new research report published by Future Market Insights (FMI), the  automotive battery management system market  is estimated to reach US$ 15.31 Bn by the end of 2029.  “In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.” Key Takeaways of Automotive Battery Management Sys...
Post a Comment
Read more

Medical Gloves Market Trends, Growth, Future Demand, Analysis and Forecast by 2032

 The medical gloves market has witnessed significant growth and evolution, especially in recent years, due to the global healthcare challenges, including the COVID-19 pandemic. Medical gloves are crucial protective equipment used by healthcare professionals to prevent the transmission of infections, maintain hygiene standards, and ensure the safety of both patients and medical personnel. This market encompasses a wide range of glove types, including latex, nitrile, vinyl, and others, each with its unique features and applications. One of the key drivers of the medical gloves market is the increasing focus on infection prevention and control in healthcare settings. The heightened awareness of the importance of hand hygiene, especially in the wake of the pandemic, has led to a surge in demand for medical gloves worldwide. Healthcare facilities, including hospitals, clinics, and laboratories, require a steady and reliable supply of gloves to maintain safety protocols an...
Post a Comment
Read more