Based on the application of the product, the automotive wiring harness market is classified as body, chassis, engine, HVAC and speed sensor harness. The chassis segment dominated the overall industry followed by body equipment segment. Speed sensor wiring harness is expected to have highest CAGR during the forecast period owing to rapid adoption of advanced driver assistance systems in the automobiles.
Based on components used, the automotive wiring harness market is divided in to copper, aluminum and other materials. Aluminum segment is expected to dominate the market as use of aluminum results in weight reduction of the harness system. The manufacturers are using aluminum to develop light weight wiring harness systems which reduces the overall vehicle weight and decrease in carbon dioxide emission.
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On the basis of vehicle type, the automotive wiring harness market is divided in to light weight vehicles and heavy vehicles. The high volume of production in light weight vehicles will support the adoption of wiring harness equipment in the light vehicles.
Asia Pacific region will observe steady demand rise as automotive production is increasing in the major countries in the region. Increasing awareness of ADAS will accelerate the demand in the Asia Pacific. The major contributing countries in Asia Pacific such as India, China, South Korea and Brazil are experiencing shift in consumer preference for safety and high end electronics in vehicles thus creating opportunities for the OEMs in this region.
North America and Europe will acquire considerable market share during the forecast period owing to high adoption of safety technologies in automobiles. However, these markets will come to maturity in terms of demand for the product as majority of the vehicles currently installed with technologically superior electronic and safety systems. Countries such as Canada and Mexico are experiencing economic stability owing to establishment of new vehicle assembly plants and expanding vehicle production capacity which will provide demand for the automotive wiring harness market.
The major companies in the automotive wiring harness market are Delphi Automotive, Leoni AG, Sumitomo Electric Industries, Yazaki Corporation, Lear Corporation, Furukawa Electric Company Ltd., THB Group, Samvardhana Motherson Group, Spark Minda, Nexans Autoelectric, Yura Corporation, Fujikura Ltd., PKC Group, Quingdao Sanyuan Group, Kyungship Corporation, and Kromberg & Schubert.
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Methodology used in this report:
our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Automotive Wiring Harness Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive automotive wiring harness market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.
Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:
- Leadership figures such as CEOs, CSOs, VPs etc. in key companies
- Supply-chain participants, distributors and domain experts
- Automotive Wiring Harness Market Key customers and B2B clients
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