The automotive industry is one of the growing sectors currently and is expected to show significant growth during the forecast period. The automotive wiring harness market is presently focused on technological up-gradation such as heat insulated wires and ethernet cables. In order to make the vehicles perform at an optimum level and to ensure the proper functioning of all the electronic devices fitted in the vehicles, the OEM’s are concentrated on developing advanced automotive wiring harnesses.
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Automotive wiring harness forms an integral part of any vehicle. It provides proper functioning of a vehicle and enables it to run smoothly without any trouble. Automotive wiring harness consists of wires, cables, ethernet cables, connectors and other components which transmit power to each and every electronic device and electrical components like lights, ignition, wipers and others devices. The ignition, power delivery and the overall performance of the vehicle depends on the wiring harness and the wires transfers’ current to the engine which leads to engine starting. Moreover the entire electrical system depends on wiring harness as the wires acts as a connector for all electrical operation of a vehicle.
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Based on vehicle type, the market is segmented into light vehicles and heavy vehicles. Increase in demand for high-tech devices and government regulations to implement safety features in vehicles are the major factors for the exponential growth of automotive wiring harness market in Asia Pacific. Wiring harness for vehicles which run on alternate energy are acting as an opportunity to develop more technologically advanced automotive wiring harnesses as these vehicles requires complex combinations of wires and cables to be fitted in them. The ethernet cable uses a combination of many cables twisted together to form a single cable which is lightweight and costs less. Thus the increase in demand automotive ethernet cables provides acts as an opportunity. It reduces the overall weight of the vehicle and increases performance. Automotive ethernet is a relatively new concept and is undergoing extensive research. Thus, installation of new automotive ethernet cables at an effective cost without compromising on the quality is expected to offer a huge potential to the automotive wiring harness market during the forecast period.
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Key players profiled in this report include THB Group, Minda Automotive Solution, Nexans Autoelectric, Leoni Ag, Delphi Automotive LLP and Lear Corporation. among others.
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