AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Increased inclination towards electric vehicles, advancements of safety features in automobiles, and technical development boosts the growth of the market.
OREGON, DE, UNITED STATES, March 18, 2025 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Automotive Wiring Harness Market by Material, Propulsion, Vehicle Type, Voltage, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global automotive wiring harness market size was valued at $47,618.0 million in 2020, and is projected to reach $73,713.8 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 -https://www.alliedmarketresearch.com/request-sample/643
Electric vehicles operate on electric power, while reducing maintenance costs, and carbon emissions. Various countries across the world promote the use of electric vehicles to reduce the adoption of traditional gasoline fuel based vehicles and decrease their carbon footprint. Electric vehicles are integrated with high voltage wiring harnesses. The growth in demand for electric vehicles is expected to accelerate the demand for high voltage wiring harnesses to handle complex electric vehicle systems.
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
☑️The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing delay in manufacturing of vehicles. Several automobile manufacturers faced shortage of components related to wiring harnesses that further resulted in delay in production of vehicles. For instance, in 2020, in South Korea, Hyundai suspended operations at Ulsan complex due to lack of parts.
☑️The COVID-19 pandemic and associated lockdowns resulted in a significant drop in global car sales. However, there was a rise experienced in the sale of electric vehicles. Europe experienced growth in sale of electric vehicles owing to increased purchase incentives in Germany, continued declines in battery costs, and technology transition initiated by fleet operators in order to meet the emissions standards set for 2020.
☑️With the uplifting of lockdown restrictions, increased demand for vehicles is expected to be observed, which is anticipated to further aid in the growth of automotive wiring harness market. Moreover, various initiatives have been undertaken by different governments across the world to promote adoption of electric vehicles.
Based on material, the automotive wiring harness market is segregated into copper, aluminum, and others. In 2020, copper dominated the global market. The high demand for copper based wiring harness is driven by electrification of vehicles and rise in demand for larger vehicles, such as SUVs, and full-sized vans. Copper based wiring harnesses have experienced significant growth from developing countries such as China, South Asia, and South America.
🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 -https://www.alliedmarketresearch.com/automotive-wiring-harness-market/purchase-options
The significant factors that impact the growth of the automotive wiring harness market Size include increased adoption of electric vehicles, development of vehicles with advanced safety features, and technological advancements. Moreover, high maintenance cost is expected to hinder the market growth. Development of autonomous vehicles and proactive government regulations are expected to offer growth opportunities during the forecast period.
𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐰𝐢𝐫𝐢𝐧𝐠 𝐡𝐚𝐫𝐧𝐞𝐬𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 Aptiv PLC, FujiKura Ltd., Furukawa Electric Co., Ltd., Lear Corporation, Leoni AG, Nexans Autoelectric Gmbh, Samvardhana Motherson Group, Sumitomo Electric Industries, Ltd., Yazaki Corporation and Yura Corporation.
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
♦️By material, the aluminum segment is anticipated to exhibit significant growth in the near future.
♦️By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
♦️By vehicle type, the two wheeler segment is anticipated to exhibit significant growth in the near future.
♦️By voltage, the high voltage automotive wiring harness segment is anticipated to exhibit significant growth in the near future.
♦️By application, the dashboard and cabin segment is anticipated to exhibit significant growth in the near future.
♦️By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/643
Asia-Pacific is expected to dominate the automotive wiring harness market due to growth in demand for premium cars, increased disposable income in countries such as India & China, as well as rise in adoption of electric vehicles in the region. The surge in adoption of electric vehicles is supported by government initiatives to offer benefits on purchase of electric vehicles. Moreover, integration of advanced features in vehicles requires wiring harness, which is expected to act as growth driver for the market.
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+ 1800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
