Automotive Wiring Harness Market worth $57.4 billion by 2026

Chicago, July 06, 2023 (GLOBE NEWSWIRE) -- According to the new market research report "Automotive Wiring Harness Market by Application (Engine, Chassis, Cabin, Body & Lighting, HVAC, Battery, Seat, Sunroof, Door), Transmission Type (Data, Electrical), Date Rate, ICE & Electric Vehicle, Component, Material, & Region - Global Forecast to 2026", published by MarketsandMarkets™, The global Automotive Wiring Harness Market is projected to grow from USD 47.0 billion in 2021 to USD 57.4 billion by 2026, at a CAGR of 4.1% during the forecast period. The demand for electric and autonomous vehicles would create growth opportunities for the Automotive Wiring Harness Market.

Browse and in-depth TOC on "Automotive Wiring Harness Market"   
355– Tables
64 – Figures      
335 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 170344950

Chassis harness segment is expected to be the largest segment during the forecast period

The chassis harness segment is estimated to lead the market, in terms of value, during the forecast period due to higher demand for automotive wiring harnesses in chassis applications such as frames, air brake pump, suspension systems, and others. Increased demand has encouraged the manufacturers of automotive wiring harness and other component manufacturers to offer technologically advanced chassis harness that helps in short distance and less in weight. Growing demand for premium vehicles and integration of advanced technologies in vehicles are expected to increase the demand for automotive wiring harnesses.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id= 170344950

The metallic segment by material type is expected to hold the largest market share in 2021

The metallic segment holds the largest share in the Automotive Wiring Harness Industry. OEMs mostly use copper for manufacturing automotive wiring harnesses due to high conductivity, limited corrosion, high tensile strength, and high data transfer. Despite fluctuations in the prices of copper, which have impacted the profit margins of wiring harness manufacturers in the recent past, metallic materials are still expected to hold a 92% share in the Automotive Wiring Harness Market by 2026. 

Asia Pacific is estimated to be the dominant regional market

China is major contributor to the overall automotive wiring harness sales (approximately 60%) in the Asia Pacific region in 2021.

China is considered the manufacturing hub for the automotive industry. According to the MarketsandMarkets, China and India together produce approximately 25 million vehicles every year. With an increase in production of vehicles, the demand for automotive wiring harnesses is expected to increase. This, in turn, is expected to drive the growth of the Automotive Wiring Harness Market in the Asia Pacific region. China is estimated to dominate the Asia Pacific Automotive Wiring Harness Market during the forecast period. China is the world's largest vehicle manufacturer. Thus, the market for automotive wiring harnesses in China is estimated to grow at a high rate. OEMs based in China are focusing on the adoption of lightweight materials for wiring harnesses. Thus, wiring harness manufacturers are increasingly using materials such as aluminum. Currently, there is limited penetration of aluminum in wiring harnesses.

In the past few years, the Asia Pacific region has experienced an increase in demand for luxury vehicles. The luxury/premium segment vehicles are equipped with advanced body electronic functions that require additional automotive wiring harnesses for proper functioning. Thus, the region is estimated to dominate the Automotive Wiring Harness Market with a 57.6% share in 2021.

Key Market Players

The global Automotive Wiring Harness Companies are dominated by prominent players such as Yazaki Corporation (Japan), Sumitomo Electric Industries (Japan), Aptiv PLC (Ireland), Furukawa Electric (Japan), and Leoni AG (Germany). These companies adopted new product development and acquisition to gain traction in the Automotive Wiring Harness Market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=170344950

Browse Related Reports:

EV Charging Cables Market - Global Forecast to 2027

EV Charging Connector Market - Global Forecast to 2025

Railway Wiring Harness Market - Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com