Automotive Wiring Harness Market Anticipated to be Valued at US$ 91.53 Bn, 2025
Posted by Monica Nerkar on June 1st, 2017
Automotive wiring harness is an assembly of cables used in the integration of various electronic components. Also known as cable assembly, it helps in transmitting power to different modules in an automotive. It is one of the main components as it handles the complete current flow across all the components of a vehicle including its lights, wipers, electrical devices and other electronic components. Technical developments in the automotive segment have augmented the fitting trend of many high end microelectronics and security features into the automobile. The automotive wiring harness facilitates safe, compact and simple functioning of the electronic devices installed in the automobile.
Drivers, Restraints & Trends
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 Trn by end of 2015, which in turn is expected to fuel the global demand for automotive wiring harness. Increasing fuel costs and stringent government regulations regarding CO2 emissions are boosting demand for electric vehicles in regions such as North America, Western Europe, Eastern Europe and Asia Pacific. Governments across various geographies have mandated use of certain electronic safety features, such as Anti-Lock Braking System (ABS), Electronic Stability Program (ESP) and other features, in automotive. Furthermore, increase in demand for high-end electronic and safety features in vehicles, particularly passenger cars, along with cost reduction and enhanced reliability, is leading to rise in demand for automotive wiring harnesses globally. Use of automotive Ethernet by automotive OEMs represents a new trend in the external as well as internal electronic devices connectivity in an automobile. These automotive Ethernets minimise the use of complex wiring harness structures to a great extent and, thereby, may act as a restraint for growth of the global automotive wiring harness market in the coming years. Growing demand for connectivity and car digitisation, which not only helps establish connectivity within the integral parts of a vehicle but also enables communication with other vehicles through improved and intelligent roadway infrastructure, is an emerging trend in the market.
Ask For Report Sample @ http://www.futuremarketinsights.com/reports/sample/rep-gb-37
Analysis, by Geography
Geographically, the global automotive wiring harness market is segmented into seven regions: North America, Western Europe, Asia Pacific Excluding Japan, Latin America, the Middle East and Africa and Latin America. Of these, the most prominent regional markets are North America and Asia Pacific, which together constituted around 60.4% value share of the overall market in 2014. Asia Pacific is expected to remain the most dominant automotive wiring harness market globally, throughout the forecast period. Increasing penetration rate of high-end electronic features in passenger cars and growing demand for light and heavy vehicles in Asia Pacific countries is driving growth of the market for automotive wiring harness in this region. Furthermore, China is expected to register the highest Y-o-Y growth during the forecast period in Asia Pacific, due to factors such as rise in automotive production, growing awareness about vehicle safety, and increasing popularity of vehicle infotainment in the country.
In North America, the U.S. is estimated to dominate the automotive wiring harness market, accounting for over 80.0% value share of the overall market by the end of 2015. This is attributed to the flourishing automotive industry in the region. Automotive OEMs in North America are focused on reducing space and operational complexity, due to stringent government regulations regarding carbon emission, thereby giving rise to demand for compact wiring harnesses in vehicles in the region.
In Western Europe, Germany is estimated to dominate the Western Europe automotive wiring harness market, accounting for over 35% value share of the overall market by 2015 end. This is attributed to the expanding automotive industry in the region.
The Eastern Europe and Latin America markets are expected to expand at a comparatively higher CAGR than the other regions.
Ask For More Information @ http://www.futuremarketinsights.com/askus/rep-gb-37
Analysis, by Segment:
On the basis of vehicle type, the global automotive wiring harness market is segmented into five segments: passenger vehicles, commercial vehicles, electric vehicles, hybrid vehicles and two wheelers. Of these, passenger vehicles was the most prominent segment, accounting for approximately 67.0% value share of the overall market in 2014.
The passenger vehicles segment is sub-segmented into mid-size vehicles, premium vehicles, luxury vehicles, sports utility vehicle and sports car. Furthermore, the passenger vehicles segment is expected to remain the most dominant segment in the global automotive wiring harness market throughout the forecast period.
On the other hand, the commercial vehicles segment is projected to account for over 20.0% share of the incremental $ opportunity in the global automotive wiring harness market during the forecast period. The commercial vehicles segment is further sub-segmented into light commercial vehicles, heavy commercial vehicles and buses & coaches.
In terms of revenue, the hybrid vehicles and electric vehicles segments are expected to register significant CAGR between 2015 and 2025, in view of the stringent government regulations and growing fuel prices.
On the basis of application type, the market is segmented into chassis & safety, body, HVAC, engine and sensors, of which, the HVAC segment is expected to expand at the highest CAGR of 10.1% in terms of value during the forecast period. By 2015 end, the chassis & safety application segment is estimated to account for over 40.0% value share of the global market. The segment is expected to continue its dominance in the global market till the end of 2025. Furthermore, the chassis & safety segment is sub-segmented into conventional chassis, semi-forward chassis and full-forward chassis; whereas, the body harness segment is sub-segmented into roof, door & window, facia, seat and interior.
Key players considered in the global automotive wiring harness market are YAZAKI Corporation, Aisin Seiki Co., Samvardhana Motherson Group (SMG), Delphi Automotive PLC, Fujikura Ltd., Sumitomo Electric Industries, Ltd., Lear Corporation, LEONI AG, Furukawa Electric Co., Ltd. and PKC Group PLC.
Global Automotive Wiring Harness Market Size (US$ Mn), 2014 and 2025
Find More Information @ http://www.futuremarketinsights.com/reports/global-automotive-wiring-harness-market
Like it? Share it!
About the AuthorMonica Nerkar
Joined: December 22nd, 2016
Articles Posted: 370
More by this author