Automotive Secondary Wiring Harness Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Vehicle Type (Passenger Vehicle, Commercial Vehicle and Others); Application (Cabin, Door Harness, Engine Harness, Airbag Harness, Electronic Gear Shift System, Electronic Parking Brakes, and Others); Electric Vehicle Type (BEV, PHEC, and HEV); Region/Country
Automotive Secondary Wiring Harness Market was valued at USD 44 billion in 2021 & is expected to grow at a CAGR of 12.0% from 2022-2028. The growth of the automotive industry in countries such as China, Japan, and India is driving the demand for automotive secondary wiring harnesses in the region. The market for automotive secondary wiring harnesses is highly competitive, with many players operating in the market. The market is characterized by the presence of both global and local players, each with its own strengths and weaknesses. In conclusion, the global automotive secondary wiring harness market is expected to grow at a moderate rate during the forecast period, driven by the increasing demand for advanced driver assistance systems, electrification of vehicles, and stringent regulations related to vehicle safety and emissions. The market is highly competitive, with many players operating in the market. For instance, in June 2021, NGK Spark Plug Co. Ltd., a leading manufacturer of spark plugs and wiring harnesses for the automotive industry, announced that it had developed a new high-voltage wiring harness for electric vehicles. The wiring harness is designed to meet the demands of the latest electric vehicle technologies, including high-voltage batteries and advanced driver assistance systems.
Some of the major players operating in the market include LEONI AG, Yazaki Corporation., Aptiv., Sumitomo Electric Industries, Ltd., Lear Corp., Motherson., Furukawa Electric Co. Ltd, Fujikura Ltd., Coroplast Fritz Müller GmbH & Co.KG, and DRÄXLMAIER GROUP. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst vehicle type, the passenger vehicle segment is expected to have significant growth”
By vehicle type, the market is segmented into passenger vehicle, commercial vehicle, and others. Amongst these, the passenger vehicle segment is expected to have significant growth in the automotive secondary wiring harness market due to the increasing demand for advanced driver assistance systems (ADAS) in passenger vehicles is driving the growth of the automotive secondary wiring harness market. ADAS systems require many sensors and wiring harnesses to function properly, which is expected to increase the demand for wiring harnesses in passenger vehicles. Furthermore, the growing trend of electrification in passenger vehicles is also driving the growth of the automotive secondary wiring harness market. Electric vehicles require complex wiring harnesses to connect the various electrical components, which is expected to increase the demand for wiring harnesses in this segment.
“Amongst electric vehicle types, the wireless automotive secondary wiring harness market technology held the majority share of the market in 2021.”
Based on electric vehicle type, the market is segmented into BEV, PHEC, and HEV. Among these, the BEV (Battery Electric Vehicle) segment is expected to have a significant growth of the automotive secondary wiring harness market due to several factors. Firstly, the increasing adoption of BEVs is driving the growth of the automotive secondary wiring harness market. BEVs require many wiring harnesses to connect the various electrical components, such as the electric motor, battery, and control systems. This increased demand for wiring harnesses is expected to drive the growth of the market. Secondly, the growing trend of electrification in the automotive industry is also driving the growth of the automotive secondary wiring harness market. BEVs are a key component of the electrification trend, and the increasing demand for BEVs is expected to drive the demand for wiring harnesses.
“North America to have significant growth in the upcoming forecast period.”
The automotive industry in North America is one of the largest in the world, and a significant number of vehicles are manufactured in this region. This high volume of vehicle production drives the demand for wiring harnesses, and hence, the market for automotive secondary wiring harnesses in North America. Additionally, the region has a strong presence of global automotive OEMs such as General Motors, Ford, and FCA, who are major consumers of automotive secondary wiring harnesses. Their demand for wiring harnesses drives the market. Furthermore, North America has a strong presence of automotive suppliers who produce a range of components, including wiring harnesses, for the automotive industry. The presence of many automotive suppliers in the region is expected to drive the demand for automotive secondary wiring harnesses. Lastly, the region has a strong focus on research and development, and there is a strong emphasis on the development of advanced technologies such as electric and autonomous vehicles. This focus on advanced technologies is expected to drive the demand for wiring harnesses, which are essential components in the electrification and autonomous driving of vehicles. Overall, the strong presence of the automotive industry, major automotive OEMs, many automotive suppliers, and a focus on research and development are some of the key factors driving the growth of the automotive secondary wiring harness market in North America.
Automotive Secondary Wiring Harness Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
The global automotive secondary wiring harness market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
You can also purchase parts of this report. Do you want to check out a section wise
|2.1.||Research Process of the Automotive Secondary Wiring Harness Market|
|2.2.||Research Methodology of the Automotive Secondary Wiring Harness Market|
|5||GLOBAL AUTOMOTIVE SECONDARY WIRING HARNESS MARKET COVID-19 IMPACT|
|6||GLOBAL AUTOMOTIVE SECONDARY WIRING HARNESS MARKET REVENUE, 2020-2028F|
|7.5.||Electronic Gear Shift System|
|7.6.||Electronic Parking Brakes|
|10.1.3.||Rest of North America|
|10.2.5.||Rest of Europe|
|10.3.4.||Rest of APAC|
|10.4.||Rest of the World|
|12||AUTOMOTIVE SECONDARY WIRING HARNESS MARKET OPPORTUNITIES|
|13||AUTOMOTIVE SECONDARY WIRING HARNESS MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|18.1.1.||Porters Fiver Forces Analysis|
|19.4.||Sumitomo Electric Industries, Ltd.|
|19.7.||Furukawa Electric Co. Ltd|
|19.9.||Coroplast Fritz Müller GmbH & Co.KG|
Research Methodology for the Automotive Secondary Wiring Harness Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive secondary wiring harness market were the three major steps undertaken to create and analyze the adoption of the automotive secondary wiring harness market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive secondary wiring harness market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive secondary wiring harness market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive secondary wiring harness market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type, application, and electric vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive secondary wiring harness market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the automotive secondary wiring harness market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive secondary wiring harness market market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive secondary wiring harness market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive secondary wiring harness across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive secondary wiring harness market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive secondary wiring harness market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global automotive secondary wiring harness market.
The main objective of the Global Automotive Secondary Wiring Harness Market Study
The current & future market trends of the global automotive secondary wiring harness market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive secondary wiring harness market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of the vehicle type, application, and electric vehicle type.
- Define and analysis of the regulatory framework for the automotive secondary wiring harness market industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the automotive secondary wiring harness market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the automotive secondary wiring harness market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry