Key participants in the automotive wiring harness market include Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Amphenol Corporation, Continental AG, Koch Industries, Robert Bosch GmBH, Rosenberger, and TE Con Contains nectivity.
SELBYVILLE, Del., March 6, 2024 (Globe Newswire) —
As reported by ar, the market valuation of automotive wiring harnesses is expected to reach USD 6 billion by 2032.Research by Global Market Insights Inc.
Robust growth in automobiles and rising demand for advanced safety features and driver assistance systems are expected to accelerate market expansion from 2024 to 2032. As the automotive sector grows, there is a growing need for sophisticated wiring solutions that support the integration of safety technologies. As consumers prioritize safety, demand for wiring harnesses that enable features such as collision avoidance systems and adaptive cruise control is expected to increase.
The dual demand for both technological advancement and enhanced safety will also drive market growth. For example, Motherson opened a new facility in the emirate of Ras Al Khaimah, located within the Ras Al Khaimah Economic Zone (RAKEZ), in September 2023 to strengthen its production capacity for automotive wiring harnesses in strategic locations.
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The automotive wiring harness market in the infotainment and entertainment sector is expected to capture a significant revenue share by 2032. As vehicles become more connected and technology advances, there is a growing demand for sophisticated wiring systems to support infotainment features such as touchscreen displays, audio systems, and connectivity. option. These days, consumers increasingly want seamless integration of in-car entertainment and communication. To this end, several manufacturers have developed robust wiring harnesses tailored for infotainment and entertainment applications.
The automotive wiring harness market by twisted pair terminal segment is expected to witness significant growth by 2032. Twisted pair terminals play an important role in transmitting data signals and power in vehicles, especially in modern electronic systems and sensors. As automotive technology advances, the demand for efficient data transmission and reduced electromagnetic interference increases. These terminals are excellent in these fields and are attracting attention as essential parts for wiring harnesses. With increasing focus on enhancing the performance and reliability of twisted pair terminals to meet the evolving needs of the automotive industry, the growth of this segment is expected to further accelerate.
The European automotive wiring harness market is estimated to register a CAGR of over 5% from 2024 to 2032. The existence of a strong automotive manufacturing base, especially for luxury and high-performance cars, requires sophisticated wiring systems. Additionally, stringent safety and emissions regulations are driving the adoption of advanced wiring solutions. With a focus on innovation and technological advancement, European manufacturers are at the forefront of cutting-edge wiring harness development, further contributing to market demands.
Some of the major companies operating in the automotive wiring harness market are Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Amphenol Corporation, Continental AG, Koch Industries, Robert Bosch GmBH, Rosenberger, TE Con nectivity etc.
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These industry players are focused on strengthening the industry's foothold through a strategic approach while developing advanced wiring harness solutions that meet the evolving demands of modern vehicles, including electric and autonomous vehicles. For example, Motherson opened a new wiring harness facility in Serbia in September 2022, underscoring its role in supporting commercial vehicle customers and contributing to the wiring harness sector's global growth strategy.
Partial chapters of the report's Table of Contents (TOC):
Chapter 1 Methodology and Scope
1.1 Market scope and definition
1.2 Basic estimation and calculations
1.3 Calculation of predictions.
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid Sources.
1.4.2.2 Official sources
Chapter 2 Summary
2.1 Automotive Wiring Harness Market 360-degree overview, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024-2032
2.3 Regional trends
2.4 Trends in connector types
2.5 Terminal trends
2.6 Application trends
2.7 Protocol Trends
Chapter 3 Automotive Wiring Harness Market Insights
3.1 Industry ecosystem analysis
3.2 Vendor Matrix
3.3 Profitability analysis
3.4 Technology and Innovation Outlook
3.5 Patent analysis
3.6 Major news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Mergers/Acquisitions
3.6.3 Investment
3.6.4 Product launches and innovation
3.7 Regulatory status
3.8 Impact force
3.8.1 Drivers of growth
3.8.1.1 Increase in military modernization programs
3.8.1.2 Development of new sensor technology
3.8.1.3 Growing cyber threats
3.8.1.4 Expanding the introduction of unmanned vehicles
3.8.1.5 Ongoing conflicts and geopolitical tensions drive investment in automotive wiring harnesses
3.8.2 Industry Pitfalls and Challenges
3.8.2.1 Integration and Interoperability
3.8.2.2 Technical complexity
3.9 Analysis of growth potential
3.10 Porter's analysis
3.11 PESTEL analysis
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