Increases are expected in all the major production regions, while the North America and Asia Pacific are likely to perform more dynamically than the European region. The output of vehicles with alternative drive technologies will again very much outpace the overall market. Double-digit rates of growth are expected in all regions, which adds up to a 51 percent global increase in output.
Rapid rise in vehicular population as a result of rising disposable incomes
As per the automobile associations, the global vehicular population had crossed 1 billion mark in the year 2010 itself which was driven by the aggressive growth rates in India and China in that fiscal year. The rise in the sales of vehicles and in particular passenger cars can be attributed to the steady increase in the disposable incomes of consumers. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes by consumers. Globally, the trend of urbanization is growing at an exponential growth rate. Due to this, the average disposal income of the population staying in urban cities is also increasing, allowing them to enhance their lifestyles. The number of passenger cars operated worldwide is therefore bolstering, further creating a demand for production of passenger cars to cater to the ever increasing demands. This would drive the revenue prospects of automotive wiring harness market.
Advancement of technologies for display units, voice recognition systems and consumer electronics
Automobiles of today have evolved with large number of electronic integrations. The dashboard, infotainment systems, and head-up-display units in an automobile require large number of electronic components. As these electronic systems are becoming a common accessory, consumers and automakers have pushed the component suppliers for more innovations and integrations. Consumers demand for more intuitive technology, thus pushes automotive OEMs to look for best-in-class technology and features. Availability of large amounts of accessible content for entertainment and sources of information have left consumers demanding for more features integrated in the vehicle. These factors together would have a positive impact on the growth of automotive wiring harness market.
Segment by Type Insights
The global automotive wiring harness market by Type has been segmented into Main Harness, Auxilary Harness, ICE Harness, and others. The automotive wiring harness market by type was led by Main segment. There are various types of wiring harness that goes into a vehicle. Each harness is a perfect match for its purpose and depends upon the vehicle to vehicle and model to model. Individual wiring harness is specific to its model and application and has organized set of connectors, wires, and terminals and runs throughout the body of a vehicle and convey information and electric power. With the advent of the electric vehicle, high voltage >60V wiring harness is coming into play. The main harness of a vehicle is independent from the type of vehicle and features available in the vehicle. These are the most basic set of wires needed for a vehicle to run and is indispensable. However, as features in a vehicle increases, the type of harness also tend to increase.
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Leading Automotive Wiring Harness Market Players:
- Sumitomo Electric
- Lear Corporation
- Delphi Automotive PLC (Aptiv)
- Yazaki Corporation
- Furukawa Electric Co.
- Fujikura Automotive
- Samvardhana Motherson Group
- Leoni AG
- Minda Spark
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Key Elements that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the 3D Concrete Printing Market.
- Key market trends cracking up the growth of the 3D Concrete Printing Market.
- Challenges to market growth.
- Key vendors of 3D Concrete Printing Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global 3D Concrete Printing Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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