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Automotive Wiring Harness Market Global Trends And Forecast To 2023
Automotive Wiring Harness Market Global Trends And Forecast To 2023, 7/31/2020 - Automotive Wiring Harness Market Overview

Introduction of infotainment systems and advanced driver assistance systems (ADAS) in latest cars is projected to fuel global market. Speed sensor wiring harness is a unit expected to induce demand owing to popularity of connected cars.

Competitive Dashboard

Furukawa Electric Co., Ltd. (Japan)

Fujikura Ltd. (Japan)

PKC Group(Finland)

Leoni AG (Germany)

Sumitomo Electric Industries Ltd. (Japan)

YAZAKI Corporation (Japan)

Lear Corporation (U.S.), and others.

Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the Automotive Wiring Harness Market based on material type, component type, application, vehicle type, and region. By material type, the market has been segmented into copper, aluminum, and others. The copper segment accounted for a large market share and maintain its dominance in the market over the forecast period.

Major market applications include engine, chassis, sensors, heating, ventilation, and air conditioning (HVAC), body, and others. The engine segment is touted to generate maximum revenue for the market by 2023, followed by chassis and HVAC segments. Demand for HVAC can be attributed to installation of these units in light commercial vehicles and trucks.

Regional Outlook

The automotive wiring harness market size, on the basis of region, is segmented into the North America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). The APAC market is projected to exhibit a 6.79% CAGR over the forecast period. This can be attributed to the booming automotive sector in the region. China can contribute to regional market revenue owing to its lax policies regarding labor laws and tariffs. Moreover, growth of the transportation and information and communication technology (ICT) sectors in parallel to the automotive sector can influence market demand.

The North America market is also touted to exhibit a stupendous CAGR over the forecast period owing to the U.S. In addition, presence of various automobile manufacturers coupled with a steady demand for commercial vehicles can augur market growth.

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