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(Transportation-News.com, February 15, 2016 ) Wiring harness for alternate energy vehicles and growing automotive safety norms in developing countries are some of the factors providing ample growth opportunities for the global automotive wiring harness market. Some of the factors restraining the growth of the market are maintenance issues related with automotive wiring harness, and their high cost. The automobile sector is growing, especially in Middle East & Africa, due to increasing government support in form of tax exemptions and fiscal incentives in free zones of the region. In Japan, the small car segment of the automotive industry is growing, which is supporting the growth of the automotive wiring harness market.
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The Asia-Pacific market is growing with the highest rate, due to the growing consumer preference for safety features and high-end electronics in the heavy and light vehicles in the countries, such as India and China. The automotive wiring harness market in some countries of North America and Europe is saturated, as safety equipment and high-end electronics are already installed in most of the vehicles in these regions. Whereas, Canada and Mexico are still untapped markets, due to the commissioning of new vehicle assembly plants and increasing vehicle production capacity in the countries.
Among all the vehicle types, the commercial vehicle and passenger vehicle holds more than three-fourth share of the global market. Additionally, the hybrid vehicle category is expected to lose its share in the coming years, due to higher cost as compared to other vehicle types. Among all the products, the chassis wiring harness is expected to lead the global market in the coming years. The Original equipment manufacturers (OEMs) are focusing to design a light weight and compact wiring harness, which occupies less space in the interfacing of electronics and electrical devices of the vehicle. The global market of automotive wiring harness is also growing due to the increasing need of protection against abrasions and vibrations, compact wiring, and simplicity of operation in managing different electronic devices.
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Some of the competitors in the market are Lear Corporation, Furukawa Electric Co. Ltd., Samvardhana Motherson Group, Nexans Autoelectric GmbH, Sumitomo Electric Industries Ltd., YAZAKI Corporation, THB Group Ltd., and Delphi Automotive LLP.
Global Automotive Wiring Harness Market Segmentation
By Vehicle Type
Electric Vehicle
Passenger Vehicle
Hybrid Vehicle
Commercial Vehicle
By Product
Chassis Wiring Harness
Speed Sensors Wiring Harness
Engine Wiring Harness
Body Wiring Harness
Others
By Geography
North America
Europe
Asia -Pacific
Rest of the World
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