According to the latest market research study released by Technavio, the global automotive wiring harness market is expected to grow at a CAGR of around 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global automotive wiring harness market based on vehicle type:
Global automotive wiring harness market share by vehicle type 2015
|
Passenger Cars |
72.48% |
|
LCVs |
22.28% |
|
HCVs |
5.24% |
Source: Technavio
Automotive wiring harness market by passenger vehicles
The global automotive wiring harness market by passenger vehicles accounted for almost $29 billion in 2015, and this is expected to grow at a CAGR of more than 6% by 2020. The industrial output, economic development, and population demographics is primarily driving the demand for passenger cars in the market. Passenger cars are the most commonly used vehicle for personal transportation needs. The demand for these vehicles is high in developed countries and emerging nations like APAC. The economic development and a higher percentage of the middle-class population are contributing to the increased sales of passenger cars in this region.
“The OEMs in the market are introducing high-end electronic cars or electrically influenced vehicles with advanced features to sustain the competition in the market. Vendors are adding value-added features that pertain to an area of safety, security, propulsion, connectivity, and the environment. Furthermore, the government regulations demanding additional safety, fuel efficiency, and security features will encourage vendors to invest in advanced technologies. The adoption of infotainment and ADAS will further fuel growth in this market segment,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
Automotive wiring harness market by LCVs
The global automotive wiring harness market by LCVs accounted for more than $8 billion in 2015 and is expected to grow at a CAGR of over 5% by 2020. LCV consists of commercial carrier vehicles of gross vehicle weight of up to 3.5 tons. These vehicles are pickup trucks and vans that are used to carry a wide range of goods from hubs to different places and sometimes as passenger carriers. These vehicles help in the final delivery of time-critical goods, high-value goods, and support services. Countries like Europe and North America contribute the highest revenues in this market segment. LCVs have the highest application in the logistics industry and are ideal for logistics in the urban areas. Moreover, the cities are witnessing a boost in the home delivery sector, and these are the preferred vehicles to distribute goods from central distribution hubs and are also used during office hours in urban areas.
Automotive wiring harness market by HCVs
The global automotive wiring harness market by HCVs accounted for around $2 billion in 2015 and is expected to grow at a CAGR of close to 4% by 2020. The gross vehicle weight of HVCs is over 10,000 lbs. The HCV segment consists of haul trucks, cement mixers, and city transit buses used for goods transportation across cities. These vehicles are very commonly-used in the construction, mining activities and for large-scale public transport sectors. The vendors in the market are focusing on enhancing the performance, driver comfort, vehicle security, and safety. The manufacturers are installing various safety systems such as airbags, anti-lock braking systems (ABS), lane keeping systems, driver state monitoring systems, and embedded telematics systems to meet the government regulations.
The top leading vendors operating in the global automotive wiring harness market are:
- Delphi Automotive
- Lear
- Leoni
- Sumitomo Electric Wiring Systems
- Yazaki
Other prominent vendors in the market include Coroplast, Fujikura, Furukawa, PKC, and Yura.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Wiring Harness Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Automotive Connectors Market 2016-2020
- Global Automotive Dyno Market 2016-2020
- Global Automotive Steering System Market 2016-2020
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