Accelerating Connections : The Growing Automotive Wiring Harness Market and Its $73.71 Billion Potential by 2030
OREGAON, PORTLAND, UNITED STATES , March 5, 2024 /EINPresswire.com/ -- A report published by Allied Market Research on the global automotive wiring harness market indicates that the industry was valued at $47,618.0 million in 2020 and is projected to reach $73,713.8 million in 2030, registering a CAGR of 4.6% from 2022 to 2031. This report provides an in-depth analysis of the global automotive wiring harness industry scenario, the prevailing trends and driving forces, and the current state and potential future growth of the market. It also outlines the main investment pockets, the top market segments, regional analysis, pricing factors, and the competitive environment.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/643
An automotive wiring harness serves as the central nervous system in modern vehicles, providing the electrical infrastructure necessary for seamless operation of various systems. It links various electronic components and systems throughout the vehicle to ensure proper functioning. Some modern wiring harnesses incorporate diagnostic features, allowing for easier identification and troubleshooting of electrical issues.
Moreover, an array of advancements collectively contributes to the overall efficiency, safety, and performance of modern automotive wiring harnesses, aligning with the evolving needs of the automotive industry. Recent advancements in automotive wiring harness technology include the use of high voltage wiring for electric vehicles, lightweight materials to enhance fuel efficiency, and improved connectivity for advanced driver assistance systems (ADAS) and in-car entertainment.
Additionally, manufacturers are exploring smart wiring harnesses with embedded sensors for real time monitoring and diagnostics, contributing to overall vehicle safety and performance. The integration of data communication capabilities for connected vehicles and the implementation of smart diagnostics to facilitate predictive maintenance are anticipated trends in the future of automotive wiring harness technology.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-wiring-harness-market/purchase-options
𝐌𝐚𝐫𝐤𝐞𝐭 𝐝𝐲𝐧𝐚𝐦𝐢𝐜𝐬:
The development of vehicles with advanced safety features, rise in adoption of electric vehicles across the globe, and technological advancements drive the growth of the global automotive wiring harness market. At the same time, installation of flexible wires in automotive wiring harness for improved power delivery and increased use of aluminum to reduce weight of wiring harness are boosting the growth of the market. However, high maintenance cost restrains the market growth to some extent. Nevertheless, the surge in development of autonomous vehicles and proactive government regulations associated with electric vehicles are expected to offer remunerative growth opportunities in the upcoming years.
𝐓𝐡𝐞 𝐈𝐂𝐄 𝐯𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟎-
Based on propulsion, the ICE vehicles segment held the lion's share in 2020, contributing to more than four-fifths of the global automotive wiring harness market, and is expected to continue its lead during the forecast period. Increase in demand for passenger vehicles, development of passenger cars with advanced safety features, and growing demand from emerging economies drive the demand for the segment. However, the electric vehicles segment is expected to witness the highest CAGR of 7.5% by 2030. This is because various countries across the world are promoting the use of electric vehicles to reduce the adoption of traditional gasoline fuel-based vehicles and decrease their carbon footprint. The report also includes an analysis of the hybrid vehicles segment.
𝐓𝐡𝐞 𝐜𝐨𝐩𝐩𝐞𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐛𝐲 𝟐𝟎𝟑𝟎-
By material, the copper segment accounted for nearly three-fourths of the global automotive wiring harness market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the high efficiency of copper in automobiles, electrification of vehicles, and rise in demand for larger vehicles, such as SUVs, and vans. The aluminum segment, however, would showcase the fastest CAGR of 6.4% by 2030. The adoption of aluminum-based wiring harnesses is expected to increase during the forecast period to reduce weight and costs associated with copper wiring harnesses and this drives the growth of the segment.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/643
𝐓𝐨𝐩 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:
Aptiv PLC
Fujikura Ltd.
Furukawa Electric Co., Ltd
Lear Corporation
Leoni AG
Nexans Auto electric Gmbh
Samvardhana Motherson Group
Sumitomo Electric Industries, Ltd
Yazaki Corporation
Yura Corporation
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
By material, the aluminum segment is anticipated to exhibit significant growth in the near future.
By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the two wheeler segment is anticipated to exhibit significant growth in the near future.
By voltage, the high voltage automotive wiring harness segment is anticipated to exhibit significant growth in the near future.
By application, the dashboard and cabin segment is anticipated to exhibit significant growth in the near future.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
David Correa
Allied Market Research
+1 5038946022
email us here
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