NEW YORK, Jan. 7, 2024 /PRNewswire/ — The Asia-Pacific (APAC) Automotive Wiring Harness Market size is estimated to grow by USD 6.59 billion from 2022 to 2027, growing at a CAGR of 4.88%. The Asia-Pacific (APAC) Automotive Wiring Harness Market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer Asia-Pacific (APAC) Automotive Wiring Harness Market are Aptiv Plc, Coroplast Fritz Muller GmbH and Co. KG, DENSO Corp., Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Lear Corp., Leoni AG, Minda Corp. Ltd., Nexans SA, Robert Bosch GmbH, Samvardhana Motherson International Ltd., Schaeffler AG, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Technavio has announced its latest market research report titled Automotive Wiring Harness Market in APAC 2023-2027
Company Offering:
Aptiv Plc: The company offers automotive wiring harnesses to design robust and innovative connection systems that help optimize the cost and performance of the entire electrical system.
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Market Dynamics
Impactful driver- The increasing penetration of automotive electronics. The Asia-Pacific (APAC) automotive wiring harness market is driven by the increasing demand for vehicle electrification in the automotive industry. The rising demand for electric vehicles (EVs) alongside internal combustion engine vehicles has fueled the need for sophisticated wiring harness systems. This growth has led wiring harness manufacturers to innovate automotive components, focusing on vehicle connectivity. Such advancements align with the region’s robust automotive market, enhancing efficiency and performance in modern vehicles.
Key Trend – The advances in autonomous vehicles. The Asia-Pacific (APAC) automotive wiring harness market is witnessing dynamic trends shaped by advancements in automotive electronics and electrical systems. Original Equipment Manufacturers (OEMs) are focusing on innovative wire harness materials to enhance vehicle integration. Automotive wiring harness suppliers are embracing evolving wiring technologies, catering to electric powertrains. The market trends also emphasize diverse automotive wire types, reflecting the region’s commitment to enhancing vehicle performance and safety through advanced wiring solutions.
Major Challenges – Declining sales of automobiles. The Asia-Pacific (APAC) automotive wiring harness market faces challenges amid the rise in Hybrid Electric Vehicles (HEVs) and evolving power distribution systems. Challenges encompass intricate wiring harness design and the demand for automotive wire connectors that accommodate lightweight solutions. Market dynamics and regulatory standards set challenges to sustained Automotive Wiring Harness Market Growth. Overcoming these challenges requires adapting to emerging technologies and conducting comprehensive industry analyses to ensure compliance and innovation in this evolving automotive sector.
Market Segmentation
The market is segmented by vehicle type (passenger vehicles and commercial vehicles), application (chassis, engine, HVAC, sensors, and body), and geography (China, Japan, South Korea, India, and the Rest of APAC).
The passenger vehicles segment is expected to experience substantial expansion during the forecast period. A growing trend of incorporating advanced automotive systems, particularly in engines, chassis, brakes, transmission, steering, and other components, is being observed. Consequently, there is a rising demand for wiring that facilitates the transmission of data and signals from sensors to control units for these systems. This increasing integration of electronic components in passenger vehicles is expected to make a substantial contribution to market growth.
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Related Reports:
Automotive Wiring Harness Market: The Global Automotive Wiring Harness Market size is estimated to grow by USD 12,286.48 million between 2022 and 2027 accelerating at a CAGR of 4.68%.
Automotive Junction Box Market: The automotive junction box market size is estimated to grow at a CAGR of 8.3% between 2022 and 2027. The market size is forecast to increase by USD 3,182.81 million.
TOC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Vehicle Type
Market Segmentation by Application
Market Segmentation by
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About US
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