Automotive Secondary Wiring Harness Market Booming by Top players Sumitomo Electric Industries, Lear Corporation, Delphi Automotive LLP
The report "Automotive Secondary Wiring Harness Market
by Application (Engine, Cabin, Door Harness, Airbag Harness, Electronic Parking
Brakes, Electronic Gear Shift System), Vehicle Type, EV type (BEV, HEV, PHEV),
and Region - Global Forecast to 2022", The automotive secondary wiring
harness market is projected to grow at a CAGR of 11.91% during the forecast
period, from USD 13.04 Billion in 2017 to USD 22.90 Billion by 2022. In terms
of volume, the market is estimated to reach 4.58 Billion units by 2022. The
major factors driving the growth of the automotive secondary wiring harness
market are growing advanced technologies, increased production of passenger
cars, and electrification of vehicles.
Browse 85 Market Data
Tables and 57 Figures spread through 138 Pages and in-depth TOC on
"Automotive Secondary Wiring Harness "
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Engine Harness
segment to show high growth potential
Although, the cabin (interior) harness is the dominating
application type in the global automotive
secondary wiring harness market,
followed by door harness application. But, in terms of growth rate, the market
for engine harness is expected to show the highest CAGR in the next five years.
This can be attributed to the increasing installations of engine start/stop in
new vehicle models.
Increase in electric
vehicle production to trigger the demand for automotive secondary wiring
harness market
According to International Energy Agency, the global
electric vehicle market (based on sales) is projected to reach a market size of
USD 6.9 million by 2022, growing at a CAGR of 21.48% from 2017 to 2022. In
recent few years, the demand for electric vehicle products are rising rapidly,
these products have voltage range from low voltage to high voltage and requires
special set of wires for operation. Across the globe, the wiring harness
manufacturing companies are focusing on developing secondary wiring harness
systems to support high technology systems such as infotainment systems,
lighting systems, electronic brakes, and connectivity technology.
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Asia Pacific: Fastest
growing region for automotive secondary wiring harness market
Asia Pacific is estimated to be the largest market, by
value, for automotive secondary wiring harness in 2017, owing to the higher
adoption of high-end electronic systems, huge production of passenger cars and
electric vehicles in the region. 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. Factors such as increase in use of advanced
systems and increasing vehicle production owing to high demand for premium
vehicles are intensifying the demand for the automotive secondary wiring
harness. The infrastructural development in this region is also assisting the
market growth, as it has raised the demand for heavy vehicles that require advanced
technology automotive wiring for heat insulation.
The report covers all the major players in the automotive
secondary wiring harness market, including companies such as Sumitomo Electric
Industries, Ltd. (Japan), Lear Corporation. (US), Delphi Automotive LLP. (UK),
Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan).
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