Global Automotive Wiring Harness market is expected to reach 67 Billion USD by the end of 2022

The global Automotive Wiring Harness market is valued at 49 Billion USD in 2016 and is expected to reach 67 Billion USD by the end of 2022, growing at a CAGR of 4.9% between 2016 and 2022.

Publisher: QYResearch

Published Date: 2018/8/7

Wire harnesses are vital components within modern transportation platforms such as automobiles, distributing power and signals between the various devices that deliver electrical and electronic functionality.

Increase in overall vehicles production across the globe and upcoming legislation for safety technologies in developing countries are the major factors fuelling the growth of Automotive Wiring Harness. The Automotive Wiring Harness market has witnessed positive growth in developing countries along with developed ones. The global Automotive Wiring Harness market, in terms of value, is projected to grow at a CAGR of 4.9% from 2016 to 2022. The market of the Asia-Pacific region is growing at a significant rate; whereas the European and North American markets are matured and thus, the demand for the same is estimated to grow at a decent rate.

The global revenue will increases to 49 B USD in 2016. Europe is the largest region of Automotive Wiring Harness Markers, with a revenue market share nearly 27% in 2016. The second is China region with a revenue market share over 23%. Japan & Korea is another important production market of Automotive Wiring Harness Markers, enjoying 19% revenue market share.

Currently, there are many producing companies in the world Automotive Wiring Harness Markers industry, especially in North America and Europe. The main market players are Yazaki Corporation, Sumitomo, Delphi Automotive, Leoni, Lear Corporation, Yura, Fujikura, Furukawa Electric, PKC, Nexans Autoelectric, Kromberg&Schubert, THB, Coroplast and ect.

Automotive Wiring Harness is also costly. For this reason harness manufacturers are under relentless pressure to reduce costs. Harness manufacturing is logistically complex. Each harness comprises hundreds or even thousands of components that are assembled via a sequence of operations to create the final product.

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