Automotive Secondary Wiring Harness Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The automotive secondary wiring harness market share is expected to increase by USD 8.02 bn from 2021 to 2026, at a CAGR of 13.18%.

This automotive secondary wiring harness market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive secondary wiring harness market segmentation by application (sensors and HVAC) and geography (APAC, Europe, North America, South America, and MEA). The automotive secondary wiring harness market report also offers information on several market vendors, including Fujikura Ltd., Furukawa Electric Co. Ltd., Leoni AG, Minda Corp. Ltd., Motherson Sumi Systems Ltd., Nexans autoelectric GmbH, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp. among others.

What will the Automotive Secondary Wiring Harness Market Size be During the Forecast Period?

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"APAC is becoming a hub for automotive manufacturing plants and facilities, with various OEMs and tier 1 suppliers opening new manufacturing bases in the region. Recently, prominent automotive OEMs announced their plans to open new facilities in APAC."

Automotive Secondary Wiring Harness Market: Key Drivers and Trends

The increasing demand for battery electric vehicles is notably driving the automotive secondary wiring harness market growth, although factors such as stringent regulatory norms and standards for automotive wiring may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive secondary wiring harness industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Secondary Wiring Harness Market Driver

The significant growth in the demand for battery electric vehicles in the past few years is one of the key factors driving the automotive secondary wiring harness market growth. There has been an elevation in the sales of electric vehicles and these vehicles use all-electric powertrains systems and components, which are estimated to drive the growth of the market in focus during the forecast period. The enhancements in these vehicles in terms of technology and charging infrastructure and improving socio-economic conditions are fueling sales of electronic vehicles, harnessing the global automotive secondary wiring growth.

Key Automotive Secondary Wiring Harness Market Challenge

The imposition of stringent regulatory norms and standards of automotive wiring is a major challenge for the growth of the automotive secondary wiring market. The regulatory norms are for governing safe vehicular emissions, which pose a challenge for the manufacturers of secondary wiring harnesses. As an integral part of vehicles, automotive wiring harnesses transfer electrical signals and data. Regulations and stringent policies are imposed for achieving quality standards by the manufacturers of wiring harness to achieve automotive safety. Thus, regulatory norms are expected to become more stringent during the forecast period, making it difficult for the automotive wiring harness market vendors.

This automotive secondary wiring harness market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Market Overview

The global automotive secondary wiring harness market was a fragmented industry that was in a phase of growth in 2021. By 2026, the market structure would continue to be fragmented. Its lifecycle stage would continue to be in the growth phase. 

Who are the Major Automotive Secondary Wiring Harness Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Leoni AG
• Minda Corp. Ltd.
• Motherson Sumi Systems Ltd.
• Nexans autoelectric GmbH
• Sumitomo Electric Industries Ltd.
• Tianhai Auto Electronics Group Co. Ltd.
• Yazaki Corp.
• YURA Corp.

 

This statistical study of the automotive secondary wiring harness market encompasses successful business strategies deployed by the key vendors. The automotive secondary wiring harness market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive secondary wiring harness market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Automotive Secondary Wiring Harness Market?

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58% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive secondary wiring harness market in APAC. Market growth in this region will be faster than the growth of the market in rest of the regions.

The rise in production and sales of automobiles will facilitate the automotive secondary wiring harness market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Automotive Secondary Wiring Harness Market?

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The automotive secondary wiring harness market share growth by the sensors segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive secondary wiring harness market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Secondary Wiring Harness Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 13.18%
Market growth 2022-2026	$ 8.02 billion
Market structure	Fragmented
YoY growth (%)	16.78
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 58%
Key consumer countries	China, US, Japan, Germany, and South Korea (Republic of Korea)
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Fujikura Ltd., Furukawa Electric Co. Ltd., Leoni AG, Minda Corp. Ltd., Motherson Sumi Systems Ltd., Nexans autoelectric GmbH, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Secondary Wiring Harness Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive secondary wiring harness market growth during the next five years
• Precise estimation of the automotive secondary wiring harness market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive secondary wiring harness industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive secondary wiring harness market vendors

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