According to a new market report
published by Lucintel, the future of the global automotive wiring harness
market looks promising with opportunities in the passenger car and commercial vehicle. The global automotive wiring harness market is expected to reach an estimated $54.2 billion by 2021. The global automotive
wiring harness market is forecast to grow at a CAGR of 6.3% from 2016 to 2021.
The major drivers of growth for this market are increasing vehicle production and increasing content of electronic technology in vehicles.
In this market, chassis, engine, body, speed sensor, and HVAC are the market segments by application type. On the basis of vehicle type, the market is segmented into passenger car (small car, medium car and large car), light commercial vehicle, and others. On the basis of its comprehensive research, Lucintel forecasts that the engine application is expected to show above average growth during the forecast period.
Within the global automotive wiring harness market, the copper segment is expected to remain the largest market. Increase in demand for hybrid and electric vehicles is the major factor that would spur growth for this segment over the forecast period.
APAC is expected to remain the largest region due to high vehicle production and increasing government mandates relating to safety features of vehicle.
Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of aluminum wiring harness in vehicles in developing countries to follow government regulations on carbon emission reduction and increase in fuel efficiency.
For business expansion, Lucintel’s report suggests innovation and new product development to ensure transmission of equal power to different electronic modules in a vehicle. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends which have a direct impact on the dynamics of the industry include introduction of high voltage wiring harness system in electric vehicles and development of recycling of wiring harness system. Yazaki Corporation, Sumito Electric Industries Ltd., Delphi Corporation, Leoni Group, and Lear Corporation are the major wiring harness suppliers in the global automotive wiring harness market. Several companies are seeking mergers and acquisitions as strategic initiatives to drive growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive wiring harness market by application, type, vehicle type and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Wiring Harness Market 2016-2021: Trends, Forecast, and Opportunity Analysis
.” The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the growth opportunities in the global automotive wiring harness market by application, type, vehicle type and region, as follows:
By Application [$ billion from 2010 to 2021]:
This 171-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/automotive_wiring_harness_market_16.aspx
or firstname.lastname@example.org. About Lucintel
Lucintel, the premier global Management Consulting
and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting
, and Due diligence
services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com. This report answers following key questions:
Q. 1 What are some of the most promising, high-growth opportunities for the automotive wiring harness market by application (chassis, body, HVAC, engine, and speed sensor), type (copper, aluminum and other), vehicle type (passenger car, commercial vehicle, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Q. 2 Which segments will grow at a faster pace and why?
Q. 3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11 What M&A activity has occurred in the last 5 years and what has its impact been on the industry?