Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on theGlobal Automotive Secondary Wiring Harness Market.
The global automotive secondary wiring harness could project a CAGR of roughly 11% during the forecast period (2018-2023), reveals Market Research Future (MRFR).
Growth Boosters and Top Restraints
A secondary wiring harness is used in vehicles and refers to a set of wires that help connect various electrical and electronic devices directly with the main wiring. This is done without any modification or attachment of connectors. Secondary wiring harness primarily consists of wires and connectors that help achieve direct connections between the electronic and electrical components with the primary wiring.
Surge in adoption of electric vehicles is one of the prime factors backing the growth of the automotive secondary wiring harness market. Governments of several nations are imposing regulations that necessitate the use of several electronic systems like Anti-Lock Braking System (ABS), Electronic Stability Program (ESP) and Electronic Braking Systems (EBS) into vehicles These proactive steps being taken by authoritative agencies seem to be working in favor of the worldwide market, note data experts.
Escalating demand for vehicle comfort as well as safety accessories could provide lucrative opportunities to the worldwide automotive secondary wiring harness market. Apart from this, the world over, various wiring harness manufacturing vendors are striving to develop secondary wiring harness systems that give back-up to high-technology systems like lighting systems, infotainment systems, connectivity technology, and electronic brakes. Such technological innovations are bound to elevate the market position in subsequent years.
The worldwide automotive secondary wiring harness market has been categorized with context to application and vehicle type.
Various applications of automotive secondary wiring harness are door harness, cabin, electronic parking brakes, engine, electronic gear shift system, and airbag harness. The cabin segment can be split into lighting, infotainment, steering wheel harness, and seat harness while the door harness segment includes power door lock harness, power mirror, and door handle harness. Airbag harness enjoys robust demand due to rising installations of extra airbag in latest vehicle models along with the increasing mandates for automotive safety.
The types of vehicles that employ automotive secondary wiring harness include internal combustion engine (ICE) and electric vehicle (EV). ICE comprises passenger vehicles, light commercial vehicle, and heavy commercial vehicle. Whereas EV consists of hybrid electric vehicle (HEV), battery electrical vehicle (BEV) and plug-in hybrid electric vehicle (PHEV).
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Europe, North America, Asia Pacific (APAC) and the Rest of the World (ROW) are the primary markets for automotive secondary wiring harness.
Asia Pacific could be the leading market for automotive secondary wiring harness in the near future, as a result of the expansive population and rising middle class. These factors are influencing the automotive sales in a positive way in the region. Increasing use of advanced systems and vehicle production in the region owing to robust demand for premium vehicles has intensified the demand for automotive secondary wiring harness. The region is also noting immense infrastructure development which has done wonders for the market in recent years. This is a critical factor that helps augment the demand for heavy vehicles that need advanced technology automotive wiring for heat insulation.
Germany is touted to be the most profitable market for automotive secondary wiring harness in Europe during the forecast period. Germany is one of the prominent technology hubs of automotive industry in the world, and it also houses a huge number of esteemed players. This gives a substantial boost to the regional market in the process.
North America stands as an important market for automotive secondary wiring harness market. The region is known for having a highly lucrative market for premium vehicles, which could benefit the automotive secondary wiring harness automotive wiring harness market as well. Moreover, there has been exponential demand for extra safety and convenience features in mid-segment vehicles in the region. The sum of these factors is expected to significantly push the growth of the regional market in the following years.
Highly renowned vendors operating in the worldwide automotive secondary wiring harness market include Ashok Minda Group (India), Aptiv PLC (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan), Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Leoni AG (Germany), Samvardhana Motherson Group. (India), Spark Minda, Nexans (France), and THB Group. (China).