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The automotive secondary wiring harness market size is forecast to increase by USD 12.64 billion at a CAGR of 18.6% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing significant growth due to the increasing use of sensors in road vehicles, including trucks and buses. These sensors are essential for real-time monitoring and analysis of automotive systems, leading to the increased adoption of secondary wiring harnesses. Factors such as advancements in sensor technology and the integration of artificial intelligence (AI) in automotive electrical systems are key drivers for market expansion. The global automotive industry is undergoing rapid transformations, with a focus on creating safer, cleaner, and more connected vehicles. Innovative solutions are being implemented to meet the evolving needs of consumers and regulatory requirements. Environmental conditions, such as temperature, humidity, sunlight, and dirt, pose challenges to the electrical design and mechanical integrity of secondary wiring harnesses. However, these challenges are being addressed through the development of advanced materials and manufacturing techniques. The market is expected to continue its growth trajectory, driven by the increasing demand for advanced automotive technologies.
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The sensors segment was valued at USD 3.48 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is a significant segment of the global automotive industry. Wiring assemblies play a crucial role in the electrical power distribution within vehicles, requiring insulating materials for protection. Manufacturing plants utilize software tools for designing 2D and 3D layouts to streamline the production process. Electrical system engineers are responsible for managing electrical loads and ensuring the proper functioning of electrical equipment. The connection points in these wiring harnesses are meticulously engineered to ensure reliable performance. APAC is the global leader in automotive production and sales, with China and Japan being the major contributors. China's dominance in the region is driven by the substantial demand for automobiles, particularly in the luxury vehicle segment. Japan follows closely behind, with a strong manufacturing sector and stringent safety regulations. Emerging markets such as India and Southeast Asian countries are also expected to contribute significantly to regional market growth due to the increasing implementation of regulatory norms on vehicle safety and vehicular emissions. The market is a vital component of the global automotive industry, with APAC leading the way in production and sales. The demand for wiring harnesses is driven by the growing demand for automobiles, particularly in the luxury vehicle segment, and the increasing implementation of regulatory norms on vehicle safety and emissions. Manufacturing plants utilize advanced software tools and design techniques to ensure the production of high-quality wiring harnesses, making this a dynamic and growing market.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for EVs is notably driving market growth.
The advances in autonomous vehicles is the key trend in the market.
The stringent regulatory norms and standards are the major challenge that affects the growth of the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The automotive secondary wiring harness market caters to the electrical needs of various road vehicles, including trucks, buses, and cars. Mechanical design and electrical design play crucial roles in the creation of these harnesses. Electrical systems in vehicles are exposed to harsh environmental conditions such as temperature, humidity, sunlight, dirt, vibration, and extreme conditions. To ensure reliability and safety-critical design, wiring harnesses and cable assemblies are engineered with flame-retardant sleeves, insulating materials, and electrical schematics. Autonomous driving, infotainment platforms, and electronic devices necessitate advanced wiring harnesses for signal transmission and electrical power distribution.
Electrical hazards, such as electrical fires, are mitigated through the use of electrical cables, connection methods, and electrical equipment. Wiring harnesses come in various design variants, including body wiring harnesses, engine wiring harnesses, and chassis wiring. The manufacturing process involves the use of software tools for 2D and 3D layouts, electrical load calculations, and electrical circuit design. Electrical system engineers are responsible for managing electrical loads, designing electrical circuits, and ensuring the performance of electrical devices. The market also offers customized harnesses to meet individual specifications and production process requirements.
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Market Scope |
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Report Coverage |
Details |
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Page number |
140 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.6% |
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Market growth 2024-2028 |
USD 12.64 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.2 |
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Key countries |
China, US, Japan, Germany, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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