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Rising Use of Electric Vehicles to Favor Auto Secondary Wiring Harness Market Size

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sagar k
Rising Use of Electric Vehicles to Favor Auto Secondary Wiring Harness Market Size

Summary

Global Auto Secondary Wiring Harness Market Size Report Information by Application (Cabin, Door Harness, Engine, Electronic Parking Brakes, Airbag Harness, and Electronic Gear Shift System), by Vehicle Type (ICE and EV), by Region- Forecast till 2023

Auto Secondary Wiring Harness Market Size Overview

Automotive secondary wiring harness market size is getting traction from the advanced infotainment system and safety requirements. The global automotive secondary wiring harness market size is all set to expand with 11% CAGR during the forecast period (2018-2023) driven chiefly by growing electric vehicle (EV) production. Market Research Future’s (MRFR) report on the same market reveals that in the U.S., EV production has gone up as its operational cost has gone down considerably. China, on the other hand, accounts for almost 40% of the global EV market. Other drivers such as increasing complexity of onboard electronics, passenger safety measures, vehicle customization, and supporting infotainment systems, lighting systems, electronic brakes, & connectivity technology are assisting in the expansion of the automotive secondary wiring harness market.

Key Players

The types of vehicles that employ automotive secondary wiring harness include internal combustion engine (ICE) and electric vehicle (EV). ICE comprises passenger vehicles, light commercial vehicle, and heavy commercial vehicle. Whereas EV consists of hybrid electric vehicle (HEV), battery electrical vehicle (BEV) and plug-in hybrid electric vehicle (PHEV).

Market Segmentation

The worldwide Auto Secondary Wiring Harness Market Size has been categorized with context to application and vehicle type.

Various applications of automotive secondary wiring harness are door harness, cabin, electronic parking brakes, engine, electronic gear shift system, and airbag harness. The cabin segment can be split into lighting, infotainment, steering wheel harness, and seat harness while the door harness segment includes power door lock harness, power mirror, and door handle harness. Airbag harness enjoys robust demand due to rising installations of extra airbag in latest vehicle models along with the increasing mandates for automotive safety.

Regional Insight

Europe, North America, Asia Pacific (APAC) and the Rest of the World (ROW) are the primary markets for automotive secondary wiring harness.

Asia Pacific could be the leading market for automotive secondary wiring harness in the near future, as a result of the expansive population and rising middle class. These factors are influencing the automotive sales in a positive way in the region. Increasing use of advanced systems and vehicle production in the region owing to robust demand for premium vehicles has intensified the demand for automotive secondary wiring harness. The region is also noting immense infrastructure development which has done wonders for the market in recent years. This is a critical factor that helps augment the demand for heavy vehicles that need advanced technology automotive wiring for heat insulation.

Germany is touted to be the most profitable market for automotive secondary wiring harness in Europe during the forecast period. Germany is one of the prominent technology hubs of automotive industry in the world, and it also houses a huge number of esteemed players. This gives a substantial boost to the regional market in the process.

North America stands as an important market for Auto Secondary Wiring Harness Market Size. The region is known for having a highly lucrative market for premium vehicles, which could benefit the automotive secondary wiring harness automotive wiring harness market as well. Moreover, there has been exponential demand for extra safety and convenience features in mid-segment vehicles in the region. The sum of these factors is expected to significantly push the growth of the regional market in the following years.

Get Full Report @ https://www.marketresearchfuture.com/reports/automotive-secondary-wiring-harness-market-6091

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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