Global Automotive Wiring Harness Revenue Will Increase To 64.33 Billion USD In 2025 From 42.78 Billion USD In 2017
Tuesday, 11 Dec, 2018
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 5.23% from 2017 to 2025. 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 increase to 64.33 Billion USD in 2025 from 42.78 Billion USD in 2017. China is the largest region of Automotive Wiring Harness Markers, with a revenue market share 28.85% in 2017. The second is Europe region with a revenue market share over 26%.
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.