Pune, India, Dec. 21, 2021 (GLOBE NEWSWIRE) -- According to the report, the global Automotive Wiring Harness market size will expand backed by increasing consumer preferences for automotive electrical components. This information is published by Fortune Business Insights, in its latest report, titled “Automotive Wiring Harness Market Size, Share & Industry Analysis, By Application Type (Body Wiring Harness, Engine Wiring Harness, Chassis Wiring Harness, HVAC Wiring Harness, Speed Sensor Wiring Harness), By Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles) Others and Regional Forecast, 2019-2026.”
Automotive wiring harness plays an important role in connecting several components of a vehicle that requires electricity to function. The components such as the starter, and the battery require a wiring harness system to function efficiently. Wiring harness are primarily used extensively in every type of vehicles. Automotive wiring harness provide several benefits to the vehicle such as minimizing risk of shorting and improved fuel efficiency. Rising automotive sector will contribute to the growth of the market in the forecast period.
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The market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from advice of expert professionals from the industry by our research analysts using several research methodologies. Moreover, it contains an exhaustive study of the landscape comprising of key players, strategies used by them, and recent product launches for the market growth between 2019 and 2026.
Adoption of ADAS IN Vehicles Will Favor Growth
Technological Advancements have changed the way cars are being manufactured and developed. Autonomy in vehicles has resulted in increasing adoption of technology such as advanced driver assistance systems (ADAS). Furthermore, OEMs promoting the use of adas is expected to drive the growth of the market in the forthcoming years. For instance, in 2017, Brandmotion, a leading aftermarket ADAS manufacturer, introduced its ADAS-1000 OEM-grade forward-crash warning system. Moreover, rising number of passenger vehicles will positively impact the growth of the market during the forecast period.
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Adoption of Safety Features in Vehicles Will Favor Growth in North America
Among the regions, North America and Europe will witness significant growth during the forecast period. This ascribable to factors such as large-scale adoption of safety features in automotive sectors in these regions. Additionally, rising production of automobiles, and increasing adoption of electric vehicles is anticipated to drive the growth of the market during the projected horizon. Asia-Pacific, on the other hand, is expected to rise on account of increasing demand for speed sensors to prevent road accidents, and infrastructural development between 2019 and 2026.
Collaboration Among Key Players Will Aid Growth
According to the report, the market comprises of several small, medium, and large companies that are striving to gain lead position in the market during the forecast period. They are achieving this by adopting strategies such as mergers and acquisitions, collaborations, and product launches to gain maximum of the global automotive wiring harness market revenue.
List of the Companies Operating in the Market:
- Delphi Automotive
- Leoni AG
- Sumitomo Electric Industries
- Yazaki Corporation
- Lear Corporation
- Furukawa Electric Company Ltd.
- THB Group
- Samvardhana Motherson Group
- Spark Minda
- Nexans Auto electric
- Yura Corporation
- Fujikura Ltd.
- PKC Group
- Quingdao Sanyuan Group
- Kyungship Corporation
- Kromberg & Schubert
- Among the other players
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Global Automotive Wiring Harness Market Segmentation:
- Body Wiring Harness
- Engine Wiring Harness
- Chassis Wiring Harness
- HVAC Wiring Harness
- Speed Sensor Wiring Harness
By Vehicle Type:
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Table Of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Analysis
4.3. SWOT Analysis
4.4. Technological Developments
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on Automotive Wiring Harness Market
5. Global Automotive Wiring Harness Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
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