Analysis of Automotive Wiring Harness Market applications and companies active in the industry

The Latest Market Research Report on "Automotive Wiring Harness Market Size, Industry Outlook, Regional Analysis (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Development, Competitive Landscape & Forecast, 2016 – 2024", The Automotive Wiring Harness market analysis and research report talks about major applications of Wiring Harness, growth of these segments as well as offers insights into companies active in this industry and their information.

Increasing automobile production globally and rising demand for technologically superior electronic safety equipment in the vehicles are the major drivers of the automotive wiring harness market. Automobile production is driven by increasing demand for smart vehicles which reduces overall maintenance costs of vehicles.

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Complex wiring integration, raw material prices and lack of automation in wiring harness manufacturing process are restraining the industry growth. The failure of the system in terms of overheating or short circuit in extreme weather conditions such as snow & rain acts as a technical challenge for the manufacturers.

A luxury car contains approximately 1500 copper wires, which is about 1 mile in length. But recycling of wire is a complex process as it contains other materials such as insulation material, terminals, connectors, relays and other materials. Although companies such as Toyota are developing new technology recycling process to reuse the copper, it is not sufficient measure to reduce the demand supply gap of materials.

Based on the application of the product, the industry is classified as body, chassis, engine, HVAC and speed sensor harness. The chassis segment dominated the overall industry followed by body equipment segment. Speed sensor wiring harness is expected to have highest CAGR during the forecast period owing to rapid adoption of advanced driver assistance systems in the automobiles.

Based on type of electric vehicles, the industry is segmented as plug in hybrid electric vehicles (PHEV), hybrid electric vehicles (HEV) and battery electric vehicles (BEV). Electric vehicle segment is steadily growing and possess higher growth potential during the forecast period. This will create demand for wiring harness in electric vehicles to enhance its utility.

North America and Europe will acquire considerable market share during the forecast period owing to high adoption of safety technologies in automobiles. However, these markets will come to maturity in terms of demand for the product as majority of the vehicles currently installed with technologically superior electronic and safety systems.

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Compliance with these standards is aimed to provide harmonized standard solutions for automotive electronics industry to offer the products globally. The manufacturers are focusing on developing high quality systems to reduce system failures.

The major companies in the automotive wiring harness market are Delphi Automotive, Leoni AG, Sumitomo Electric Industries, Yazaki Corporation, Lear Corporation, Furukawa Electric Company Ltd., THB Group, Samvardhana Motherson Group, Spark Minda, Nexans Autoelectric, Yura Corporation, Fujikura Ltd., PKC Group, Quingdao Sanyuan Group, Kyungship Corporation, and Kromberg & Schubert.

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