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The global automotive manufacturers are more inclined towards electric vehicles and have started offering EV range for models including superminis, sedans, hatchbacks, large family cars, and vans. It has also been witnessed that electric car positioning in the Europe market is significantly fast. As in 2016, Norway electric car market share was around 29%, which was estimated as the highest, across the globe, followed by the Netherlands with 6.4%, and Sweden with 3.4%.
Automotive Wiring Harness Market Size is expected to expand with the CAGR of approximately 11% from 2018 to 2023.
With the increasing requirements of high-speed data transfer rates by the modern vehicle, there is high demand for durable and lightweight materials. Along with optical fibers, the other durable and lightweight materials such as carbon nanotubes (CNTs) will have growth opportunities in the coming years. With comparatively good characteristics than steel, the CNT fiber possesses excellent conductivity. A CNT fiber has also been developed to conduct electricity and possess strength like that of carbon fibers and flexibility like textile fibers. Owing to their higher heat and electrical conductivity, and higher strength, they can substitute metals in many aerospace, automotive, and medical applications.
Furthermore, manufacturers are also working towards the development of graphene electrical wires. Graphene is a carbon fiber made up of interlinked graphite layers and possess high heat conductivity and chemical resistance like copper. Thus, carbon fibers and CNTs are expected to be materials widely used across the market. In developed countries such as U.S., various government laws and regulations have been implemented for control over vehicular emissions. This compels the automotive manufacturers to use advanced technologies for maintaining the emission levels of the automotive, which in turn is expected to boost the automotive secondary wiring harness in the forecast period.
Passenger vehicles are expected to dominate the global Automotive Wiring Harness Market Size by vehicle type segment during the forecast period
On the basis of vehicle type, passenger vehicles are expected to drive the growth of the Automotive Wiring Harness Market Size. The governments, across the globe are encouraging the use of cleaner and greener automotive technologies. The increasing population and purchasing power of automotive customers has led to an increase in the global automotive sales. Thus, the passenger car segment is expected to account for the highest share in the automotive secondary wiring harness globally.
The key players in Automotive Wiring Harness Market Size are Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Aptiv PLC (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan), Nexans (France), Samvardhana Motherson Group. (India), Leoni AG (Germany), THB Group. (China), and Spark Minda, Ashok Minda Group (India) are amongst the other important players in this market.
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https://github.com/samirk18/MRFR-SagarKinagi/issues/139
https://github.com/samirk18/MRFR-SagarKinagi/issues/140
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