- The key vendors in the Automotive Wiring Harness Market in the APAC Region 2015-2019 are Delphi Automotive plc, Furukawa Electric Co. Ltd., Lear Corp., Leoni AG, Sumitomo Electric Industries Ltd. and Yazaki Corp.
London, 31 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Automotive Wiring Harness Market in the APAC Region 2015-2019. The outsourcing of manufacturing services to low-cost countries is one major trend in the market. An increase in volume of exports from low-cost countries such as China is expected to contribute to the growth of the market. Rising manufacturing costs have forced players in the market to shift their operations to countries where they can obtain labor, raw materials, and other facilities at a low cost, and this reduces manufacturing costs and gives them an edge over competitors. The Automotive Wiring Harness market in the APAC region is expected to post a CAGR of 9.51 percent during the period 2014-2019.
The Automotive Wiring Harness market in the APAC region is experiencing demand for wiring harnesses from both developed and developing countries. Moreover, companies in the APAC region have started investing heavily in advanced automotive systems, which are expected to drive the demand for wiring harnesses.
Demand in this region stems from China, Japan, South Korea, and India. Countries such as Taiwan, Singapore, Malaysia, Vietnam, and Indonesia are also expected to contribute to this demand. Higher disposable incomes in these countries are expected to pave the way for the purchase of high-end vehicles. Moreover, increased demand for passenger vehicles and light commercial vehicles in the APAC region is driving demand for automotive wiring harnesses.
“High-resistance insulation materials and aluminum shield harnesses for hybrid electric vehicles are becoming popular in the Automotive Wiring Harness market in the APAC region,” says Faisal Ghaus, Vice President of TechNavio Research.
“Several countries are playing a major role in encouraging the use of energy-efficient vehicles. For example, several vehicle manufacturers are investing in R&D to increase the efficiency of their vehicles.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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