The Global Automotive Wiring Harness Market, expected to be valued at US$ 108229.2 million by 2027

1. Coherent market insightsMarket Research and Business Consulting Services • https://www.coherentmarketinsights.com/market-insight/automotive-wiring-harness-market-3653

2. Market Overview • An automotive wiring harness also referred to as cable assembly is a set of cables used to integrate various electronic components that helps in transmitting power to various modules in an automotive vehicle. It is one of the most crucial components in the vehicle since it handles complete current flow across all of a vehicle including wipers, electrical devices, and other electronic components. The major difference between in automotive wire harness and a standard wire harness is the connectors used and the test is done to it. Automotive wiring harness protects wiring from vehicle vibrations, moisture, and abrasions. With the help of different components such as conduits, electrical tape, cable ties or a combination of these are used to tie electrical wires together to form the complete automotive wiring assembly.

3. Market Dynamics- Drivers • Rising demand for automotive vehicles worldwide is expected to drive growth of the global automotive wiring harness market during the forecast period • Across the globe, there is a high demand for automotive vehicles. According to the Coherent Market Insights’ (CMI) analysis, the global automobile industry registered an annual growth rate of over 5.5% from 2010 to 2015 and is estimated to be valued at US$ 5.1 trillion by end of 2015. According to the same source, the industry also involves significant research and development activities, representing an investment of around US$ 85 Bn (as of 2013). Thus, high demand for automotive vehicles is expected to boost the market growth during the forecast period.

4. Gradually improving world economy is expected to propel the global automotive wiring harness market growth over the forecast period • The global economy is improving gradually and has witnessed significant growth in the recent past. According to the International Monitory Fund (IMF) World Economic Outlook (WEO), April 2014, the global economy is improving and is projected to further strengthen over the following two to three years. In APEJ and Latin America, supportive monetary conditions, robust labor market conditions and improvement in consumer confidence have increased consumption of oil and gas. Furthermore, according to the IMF, global inflation is expected to remain within a moderate range from 2014 to 2020. For instance, the global inflation rate is projected to reduce to 2.4% in 2016 from 2.6% in 2014. A drop in oil prices in 2014 is aiding macroeconomic conditions globally. Thus, these factors are expected to support growth of the global automotive wiring vehicles market growth in the near future. • APAC dominated the global automotive wiring harness market in 2019, accounting for 46.8% share in terms of value, followed by Europe and North America, respectively

5. APAC dominated the global automotive wiring harness market in 2019, accounting for 46.8% share in terms of value, followed by Europe and North America, respectively

6. Market Dynamics- Restraints • Lack of availability of standardized design modules is expected to restrain growth of the globalautomotive wiring harness market during the forecast period • Despite having technological advancements in the field of automotive assembly line, the manufacturing of wire harness is still done manually or with help of semi-automatic machines for certain operations. Furthermore, each manufacturer follows different methods in selecting the components and making layout for the vehicle, which in turn, is expected to restrict the market growth in the near future.

7. Lack of strict regulatory policies for design and safety is expected to hinder the global automotive warring harness market growth over the forecast period • Unlike the functional components that include safety components and sensors namely horns and wipers, wire harness design is not mandated to fulfill any regulatory compliances. Therefore, insufficiency in design can cause serious hazards to the vehicle. Thus, a protection has to in-built for the wire harness.

8. Market Opportunities • Growing adoption of ICE downsizing approach can provide major growth opportunities • Many manufacturers are focused on downsizing internal combustion engine (ICE) due to environmental challenges involved. This allows manufacture to produce more fuel-efficient engines and meet future environmental standards. This, in turn, increases the demand for compact wiring harness modules. Furthermore, ICE development/downsizing is expected to provide major growth opportunities in the market by 2020, especially in Japan, Europe, and the U.S

9. Increasing adoption of platform strategies can pose significant business opportunities • Adoption of Module and Platform strategies by major passenger car manufacturers such as General Motors and Volkswagen is driving growth of wiring harness systems. By 2020, 10 major manufacturers of automotive wiring harness are expected to focus on production of core platforms, thereby enabling them to reduce costs and introduce design innovations.

10. General Motors and Volkswagen is driving growth of wiring harness systems. By 2020

11. Market Trends • Increasing the use of advanced technologies is a major trend in the market • Technological advancements in automotive industry have reduced usage of complex wiring mechanical controls, thereby increasing adoption of compact wiring harness in automotive. Growing implementation of automotive technologies namely drive-by-wire and automotive Ethernet uses all electronic controls to activate brakes, engines, and control on steering. Moreover, automotive Ethernet facilitates internal and external connectivity of a vehicle, thereby reducing usage of complex wiring mechanical controls.

12. Growing consumer preference for sustainable products • Governments of various countries are focused on enforcing strict regulatory policies regarding carbon emission. Besides this, there is rising environmental awareness among common populace, which is expected to boost the demand for electric and hybrid vehicles. Thus, all these factors are expected to boost the demand for wiring harnesses. Vehicle manufacturers across the world need to adhere to various norms such as Euro 1, Euro 2, California Emission Standards, Bharat Stage Emission Standards, in order to reduce carbon emissions.

13. Segment information: • In global automotive wiring harness market, by vehicle segment, passenger vehicles sub segment dominated the global market in 2019, accounting for 67.0% share in terms of value

14. Value Chain Analysis

15. Competitive Section • Key players operating in the global automotive warring harness market are Sumitomo Electric Industries, Ltd., YAZAKI Corporation, PKC Group PLC, Aisin Seiki Co., Amphenol RF, Furukawa Electric Co., Ltd., SamvardhanaMotherson Group (SMG), LEONI, ERNI Electronics, AVX Corporation,  Delphi Automotive PLC, Lear Corporation, and Fujikura Ltd.

16. Key Developments • Key players in the market are focused on mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in January 2017, MothersonSumi Systems Ltd (MSSL), a subsidiary of SamvardhanaMotherson Group (SMG), acquired PKC Group PLC, a Finland-based wiring harness provider. • Major companies in the market are involved in product launches, in order to expand product portfolio. For instance, in July 2019, Amphenol RF introduced new 100Ω High-Speed Data (HSD) cable assemblies for automotive and agricultural equipment applications.

17. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • https://www.coherentmarketinsights.com/market-insight/automotive-wiring-harness-market-3653

18. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Customized Market Research Services Industry Analysis Services Business Consulting Services Market Intelligence Services Long term Engagement Model Country Specific Analysis

19. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/