Automotive Automotive Wiring Harness Market | Page 2

The global automotive wiring harness market is segmented into application such
as body wiring harness, engine wiring harness, chassis wiring harness, HVAC
wiring harness and sensors wiring harness. Among these segments, engine wiring
harness segment captured the largest segments in overall automotive wiring
harness market. Likely, increasing adoption of electric vehicles across the globe is
believed to augment the demand for automotive wiring harness. In addition to
this, increasing environmental concern regarding carbon emission is also
projected to supplement the growth of automotive wiring harness market by
2024.
Global automotive wiring harness market is envisioned to register a noteworthy
CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the global
automotive wiring harness market is anticipated to generate notable revenue by
the end of 2024. Additionally, the market of automotive wiring harness is riding
on the back of growing advancement in vehicles such as integration of car
infotainment system.
The passenger car segment by vehicle type accounted for the largest market of
overall automotive wiring harness in 2016. Apart from this, electric vehicle
segment is believed to be the fastest growing segment during the forecast period.
In terms of regional platform, Asia-Pacific region is the leading market of
automotive wiring harness due to presence of largest automotive industry.
Moreover, upsurge demand for premium vehicles on the back of swelled
disposable income is also fuelling the market of automotive wiring harness.
Moreover, China and India are the most prominent countries in this region owing
to presence of large manufacturing companies of light and heavy vehicles.
Rising Penetration of Electrical Vehicle
Supportive government initiatives to encourage the adoption of electric vehicles
such as Electric Vehicles Initiative (EVI) which is likely to bolster the growth of
automotive wiring harness market. Furthermore, increase in demand for high-
end electronic and safety features in vehicles has positively fuel the demand for
automotive wiring harness. These factors are believed to bolster the growth of
automotive wiring harness market.
Request For Free Sample Pages: https://www.researchnester.com/sample-
request/2/rep-id-303
Government Legislations
Copyright © Research Nester
www.researchnester.com