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Wiring harnesses are the organized set of wires, terminals and connectors that run all over the vehicle for relaying information and power for the proper functioning of the automobile. Market Research Future (MRFR) has published a report stating that the global Automotive Wiring Harness Market Share is marked to expand significantly at a CAGR of 6.35% during the forecast period of 2017-2023 and reach the market valuation of USD 93,074.4 Mn by the end of the forecast period.
Rapid rise in global population and increasing disposable income in the developed and developing regions are leading to the high demand for personal vehicles, which in turn is fueling the expansion of the global Automotive Wiring Harness Market Share. Rapid industrialization and urbanizing are inducing high demand for commercial vehicles, leading to the significant expansion of the global Automotive Wiring Harness Market Share during the assessment period.
Segmentation
The global Automotive Wiring Harness Market Share has been segmented on the basis of material type, component type, application and vehicle type. Based on material type, the Automotive Wiring Harness Market Share has been segmented into copper, aluminum and others. Based on component type, the Automotive Wiring Harness Market Share has been segmented into wires, connectors and terminals. Based on application, the Automotive Wiring Harness Market Share has been segmented into engine, chassis, body, sensors, heating, ventilation and air conditioning (HVAC), and others. Based on vehicle type, the Automotive Wiring Harness Market Share has been segmented into passenger vehicle and commercial vehicle.
Regional Analysis
Geographically, the global Automotive Wiring Harness Market Share has been segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. Among these, the Asia Pacific region is projecting significant growth at a CAGR of 6.79% in the global Automotive Wiring Harness Market Share over the assessment period. the growth of Automotive Wiring Harness Market Share in the Asia Pacific region is majorly contributed by the significant expansion of the automotive industry as a result of increased production of automotive in order to fulfill the global demand for efficient automobiles and availability of cheap labor in the emerging economies of this region. The North America region is forecasted to project noteworthy growth in the global Automotive Wiring Harness Market Share owing to the proliferation of automobile manufacturers and high demand for commercial vehicles as a result of rapid expansion of the transportation industry in this region. The Automotive Wiring Harness Market Share in the Europe region is marked to expand at a notable growth rate during the assessment period owing to increasing demand for automobiles as a result of higher disposable income and increased production of automobiles in this region. The Middle East and Africa region is forecasted to project slow growth in the global Automotive Wiring Harness Market Share owing to the poor economic conditions in the underdeveloped countries of this region.
Key Players
The major players profiled by MRFR that are operating in the global Automotive Wiring Harness Market Share are Lear Corporation (the U.S.), Sumitomo Electric Industries Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), PKC Group (Finland), YAZAKI Corporation (Japan), Fujikura Ltd. (Japan), THB Group (China), Delphi Automotive Plc. (renamed itself as Aptiv) (the U.K.), Leoni AG (Germany), Motherson Sumi Systems (India), and others
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