13-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Automotive Secondary Wiring Harness Market By Vehicle Type (Passenger Car, Heavy Commercial Vehicle, and Light Commercial Vehicle), By Electric Vehicle Type (Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles), and By Application (Engine, Electronic Parking Brakes, Cabin , Electronic Gear Shift System, Body, and Chassis): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”. According to the report, the global Automotive Secondary Wiring Harness market was valued at approximately USD 14.25 billion in 2018 and is expected to reach a value of around USD 29.11 billion by 2025, at a CAGR of around 10.3% between 2019 and 2025.
Automotive Secondary Wiring Harness is an assemblage of wires & cables used in the amalgamation of myriad electronic parts within any automotive. This system facilitates power transmission to various components & modules in a vehicle. Moreover, the automotive secondary wiring harness supports secured, condensed, and user-friendly operating of the electronic equipment in the vehicle. Additionally, technological breakthroughs witnessed in myriad vehicle components are likely to steer the demand for automotive secondary wiring harnesses.
Browse the full “Automotive Secondary Wiring Harness Market By Vehicle Type (Passenger Car, Heavy Commercial Vehicle, and Light Commercial Vehicle), By Electric Vehicle Type (Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles), and By Application (Engine, Electronic Parking Brakes, Cabin, Electronic Gear Shift System, Body, and Chassis): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025” Report at https://www.fnfresearch.com/automotive-secondary-wiring-harness-market-by-vehicle-type-284
Furthermore, the launching of electric vehicles is likely to generate new growth avenues for the automotive secondary wiring harness producers over the forecast timeline.
Escalating demand for high-end electronics & safety features in automotive to drive the market growth
The growth of the automotive secondary wiring harness industry during the forecast timeline is due to the enormous requirement for high-end secured features in vehicles. In addition to this, introduction of strict laws by the government for controlling emissions from the vehicles is likely to steer the market expansion over the forecast period. Additionally, lucrative demand for electric vehicles will culminate in high business growth during the forecast period.
Furthermore, a rise in the need of comfort in vehicles and demand for safety accessories will prompt the expansion of automotive secondary wiring harness market over the forecast period. Nonetheless, acceptance of new wireless systems in the vehicle sector will decimate the market growth during the forecast timespan. However, the massive trend among vehicle manufacturers to introduce secured features like anti-lock braking system, electronic braking systems, and electronic stability programs will create new growth avenues for the market during the period from 2019 to 2025.
Passenger car to lead the vehicle type segment over the forecast period
The growth of the passenger car segment during the forecast period is owing to the large-scale use of electronic safety features like anti-lock braking systems, electronic stability programs, and electronic braking systems. Apart from this, high passenger car production across the globe will further drive segmental growth over the forecast period.
Cabin segment to dominate the application landscape by 2025
The segmental growth during the period from 2019 to 2025 is credited to the huge demand for cabins due to its possessing of infotainment, seat harness, lightning, and steering wheel harness systems.
Asia Pacific to contribute majorly towards the overall market growth by 2025
The regional market surge during the forecast timeline is credited to the rise in the number of vehicles, surge in the number of electric vehicle owners, and presence of huge manufacturing base.
Report Scope
Report Attribute |
Details |
Market Size in 2018 |
USD 14.25 Billion |
Projected Market Size in 2025 |
USD 29.11 Billion |
CAGR Growth Rate |
10.3% CAGR |
Base Year |
2020 |
Forecast Years |
2018-2025 |
Key Market Players |
Nexans, Cypress Holdings, Inc., Lear Corporation, Viney Corporation Limited, Fujikura Ltd., Spark Minda, Ashok Minda Group, YURA CORPORATION, YAZAKI Corporation, Federal-Mogul LLC, Samvardhana Motherson Group, Sumitomo Electric Industries, Ltd., Rajashree International, Delphi Technologies, Leoni AG, THB Group, and Furukawa Electric Co., Ltd. |
Key Segment |
By Vehicle Type, By Electric Vehicle Type, By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the key players in the market include Nexans, Cypress Holdings, Inc., Lear Corporation, Viney Corporation Limited, Fujikura Ltd., Spark Minda, Ashok Minda Group, YURA CORPORATION, YAZAKI Corporation, Federal-Mogul LLC, Samvardhana Motherson Group, Sumitomo Electric Industries, Ltd., Rajashree International, Delphi Technologies, Leoni AG, THB Group, and Furukawa Electric Co., Ltd.
This report segments the Automotive Secondary Wiring Harness market as follows:
Global Automotive Secondary Wiring Harness Market: By Vehicle Type Segment Analysis
- Passenger Car
- Heavy Commercial Vehicle
- Light Commercial Vehicle
Global Automotive Secondary Wiring Harness Market: By Electric Vehicle Type Segment Analysis
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Global Automotive Secondary Wiring Harness Market: By Application Segment Analysis
- Engine
- Electronic Parking Brakes
- Cabin
- Electronic Gear Shift System
- Body
- Chassis
Global Automotive Secondary Wiring Harness Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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