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Automotive Secondary Wiring Harness Market Growth opportunities and latent adjacency- Global Forecast to 2022

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By : Amit Chate    4 or more times read
Submitted 2019-03-15 10:56:23
The Automotive Secondary Wiring Harness Market is projected to grow at a CAGR of 11.91% during the forecast period 2017–2022, to reach at a market size of USD 22.90 Billion by 2022.

The base year for the report is 2016 and the forecast year is 2022. The objective of the study is to analyze and forecast (2017–2022) the market size, in terms of volume (units) and value (USD billion), of the automotive secondary wiring harness market. The report segments the market by application, vehicle type, electric vehicle type and region North America, Europe, Asia-Pacific, and the Rest of the World (RoW). A detailed study of various market leaders has been done and opportunity analysis has been provided in the report.

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The ecosystem of the automotive secondary wiring harness market consists of various wiring harness manufacturers such as Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Delphi Automotive LLP. (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan) and research institutes such as International Organization of Motor Vehicle Manufacturers (OICA), International Cable makers Federation (ICF), Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (EAMA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA).

The most prominent regional markets include Asia Pacific and North America, which together constituted the maximum share in the total revenue of automotive secondary wiring harness market. Asia Pacific region is expected to dominate the market during the forecast period, aided by China and India the fastest developing countries in the region. Increase in use of high-end electronics, advanced systems and rising vehicle production owing to high demand for premium vehicles is intensifying the demand for the automotive secondary wiring harness. The growing infrastructural development in this region is also supporting the market growth, as it has raised the demand for heavy vehicles that require advanced technology automotive wiring for heat insulation. In Europe, the market has already reached maturity level because most of the vehicles are equipped with high-end electronics and safety features. In Europe, Germany is estimated to dominate the market during the forecast period. In North America, Mexico and Canada are also contributing to the market growth with increasing vehicle production capacity and commissioning of new vehicle assembly plants.

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The key factors restraining the growth of the automotive secondary wiring harness market include the wiring harness corrosion and fluctuating raw material cost. The market is dominated by many international as well as domestic players such as Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Delphi Automotive LLP. (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan).

Target Audience

• Automobile wiring harness manufacturers
• Conducting material manufacturers
• Distributors and suppliers of insulators and conductors
• Electric vehicle manufacturers
• Industry associations and experts
• Insulators manufacturers
• Raw material suppliers

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Author Resource:- MarketsandMarkets™ INC.
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