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Technavio’s market research analyst predicts the global electric vehicle wiring harness system (EVWHS) market to grow steadily at a CAGR of around 46% by 2021. One of the primary drivers for this market is the increase in the demand for electric vehicles (EV) sector. In EVs, the fraction of electronic components is significantly high in comparison to other vehicles in the automotive sector. This is largely due to electrified powertrain and advanced safety features. Consequently, the wiring harness used in EVs have also evolved in line with the requirement. For instance, earlier the wiring harness could only support a voltage of 12 V, which has now transformed into voltage handling capabilities of 600V and above. Also, the tax incentives and subsidies provided by the government for EV manufacturers and end-users will induce growth in the adoption of EVs across the globe, this, in turn, will propel the global EVWHS market during the forecast period.
One of the latest trends gaining traction in this market is the rise of 3D printing of automotive wiring harnesses market. 3D printing is an additive manufacturing technique where an object is created by depositing materials layer after layer. It uses either a computer-aided design (CAD) program or 3D scanning as its input. 3D printing has revolutionized the design and production process across many industries. It can also be used to create wiring harnesses and connectors. 3D printing has been able to resolve one of the major problems faced by traditional WHS manufactures. This method has provided the leverage to the manufacturers to miniaturize the wiring harnesses and connectors and achieve better quality at the same time. These advantages of the 3D printing technology will augment growth in the global EVWHS market in the coming years.
The global EVWHS market is highly fragmented due to the presence of several international and regional players. The Japanese manufacturers account for the major market share of the global production of EVWHS. The vendors compete on the basis of quality and efficiency of their products. To achieve a competitive edge, few vendors also provide product extensions in their offering.
Leading vendors in the market are –
Other prominent vendors in the EVWHS market include Aisin Seiki, Coroplast, Furukawa Electric, Fujikura, JST, Korea Electric Terminal, Lear, PKC Group, and YAZAKI.
In this market study, analysts have estimated APAC to dominate the EVWHS market during the forecast period. The market share of APAC can be attributed to the high production and sales of hybrid vehicles in Japan and EVs in China. Further, the domestic presence of established major global wiring harness suppliers also plays a significant role in the dominance of the EVWHS market in the region.
Upcoming trends such as connected EVs are gaining popularity as it has the capability to provide the user with enhanced autopilot features. This has led to the induction of Ethernet in automobiles, which reduces the complexity of wiring harness assemblies. Such high-speed communication protocol, in turn, drives the development of connected EVs, which will have more number of telematics systems with internal wire assemblies.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the EVWHS market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market drivers
PART 08: Market challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
PART 12: Appendix
Tags: auto electric, automotive wiring, auto electronics, car accessories, automotive top companies,
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