“Automotive Wiring Harness- Its Market Value to reach US$80.5 bn by 2021”. Find Out How?

The Global Automotive Wiring Harness Market will expand at an 8.60% CAGR during the forecast period from 2015 to 2021. In 2014, the global automotive wiring harness market was worth US$45.4 bn and by 2021, it is projected to be worth US$80.5 bn.

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The research study on the global automotive wiring harness market provides an in-depth evaluation of the drivers of the market from the supply side, demand side, and economic perspective. The key supply side driver of the global automotive wiring harness market is the growing innovation in wiring harness system. The most prominent driver from the demand side for the market is the growth in overall vehicle production. The key economic driver of the global automotive wiring harness market is the reduction in the cost of automotive wiring harnesses. Nevertheless, the global automotive wiring harness market will be suppressed by maintenance issues related to automotive wiring harnesses.

By vehicle type, the global automotive wiring harness market is segmented into heavy vehicles and light vehicles, among which the market is dominated by the light vehicles segment. The segment is driven by factors such as the low maintenance needs and better fuel combustion of light vehicles.Application-wise, the global automotive wiring harness market is divided into speed sensors wiring harnesses, body wiring harnesses, engine wiring harnesses, heat, ventilation, and air conditioning (HVAC) wiring harnesses, and chassis wiring harnesses. In 2014, the global automotive wiring harness market was dominated by the chassis wiring harnesses segment, followed by the HVAC segment. The chassis segment is projected to continue its dominance in the global automotive wiring harness market in the coming few years.

On the basis of geography, the global automotive wiring harness market is classified into Asia Pacific, Europe, North America, and Rest of the World. In 2014, the global automotive wiring harness market was led by Europe. The presence of prominent automobile manufacturers such as BMW, Mercedes Benz, and Audi in Europe is driving this regional market and generating an exponential demand for premium passenger cars. These cars are fitted with innovative electronic devices for safety and navigation, which will further drive the European automotive wiring harness market.

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Asia Pacific is projected to be the most attractive market for automotive wiring harnesses during the forecast period. This region will benefit from the rising installation of automotive wiring harnesses in safety and navigation devices. In addition to this, the Asia Pacific automotive wiring harness market will also be driven by the implementation of government regulations for vehicle safety as car instruments require speed sensor wiring harnesses.Players in the global automotive wiring harness market will benefit from the opportunities presented by the growing use of wiring harnesses in alternative energy vehicles and rising demand for automotive Ethernet cables. Some of the key players operating in the global automotive wiring harness market are Furukawa Electric, Delphi Automotive, Lear, Yazaki, Leoni, Nexans Autoelectric, and Minda Automotive, and THB.

Key Segments of the Global Automotive Wiring Harness Market

Global Automotive Wiring Harness Market: By Vehicle Type

> Light Vehicles

> Heavy Vehicles

Global Automotive Wiring Harness Market: By Application

> Chassis Wiring Harness

> HVAC Wiring Harness

> Engine Wiring Harness

> Body Wiring Harness

> Speed Sensors Wiring Harness

Global Automotive Wiring Harness Market: By Geography

> North America

> Europe

> Asia Pacific

> Rest of the World

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