TechNavio recognizes the following companies as the key players in the Global Automotive Wiring Harness market: Delphi Automotive plc, Leoni AG, Sumitomo Electric Industries Ltd., and Yazaki Corp.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global Automotive Wiring Harness market is the increasing demand from BRIC Countries. The steady and continuous economic growth in the BRIC countries has improved the financial status of the people in these countries, resulting in the rising per capita income of the population. This in turn has increased the demand for automobiles in these nations. Hence, by 2016, the BRIC countries are expected to account for more than 50 percent of the global light vehicle sales. Moreover, China alone is expected to account for 31 percent of the light vehicle being sold across the world. In China, automobiles sales are expected to increase by 111 percent by 2025. Among the other BRIC nations, the Passenger Vehicle market in India is expected to become the fourth- largest in the world by 2016. Moreover, by 2020, India is expected to emerge as the third-largest passenger car market in the world”
According to the report, one of the main factors driving the market is the increase in global automobile production and sales. The increasing demand for automobiles directly influences the demand for automotive wiring harness. Therefore, the continuously growing global demand for automobiles, especially for passenger vehicles, is driving the demand for wiring harnesses.
Further, the report states that one of the main challenges is the increasing manufacturing cost. The increasing wage rates and raw material prices have resulted in a drastic increase in the overall manufacturing costs. This in turn has adversely affected the financial status of manufacturers, leading to low profits, thereby restricting their spending on R&D activities.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Fujikura Ltd., Furukawa Electric Co. Ltd., Kromberg & Schubert GmbH. Kyungshin Corp., Lear Corp., and Yura Co. Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-automotive-wiring-harness-market-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report – Global Automotive Wiring Harness Market 2012-2016
