3.9% Global CAGR for Commercial Vehicle Wiring Harness Market to achieve US$ 16.00 Bn by 2027

YAZAKI, SUMITOMO, NEXANS, LEAR, AND FURYKAWA- NOTABLE MARKET PLAYERS IN COMMERCIAL VEHICLE WIRING HARNESS INDUSTRY

Wiring harness comprises of the wires, cables, and power distribution system to transmit electric power and signals across the automobiles. With the growth in the number of electric circuits and size as well as the weight of wire harnesses constantly rising depending in the different models. The advanced technologies are being used for electrical multiplexing and signal sharing transmission to meet with the emerging requirement electrification of vehicles eventually understanding the reduction in the quantity as well as size of wires. The growing disposable income of the citizen demand of high-caliber speakers, power window, and integration of small LCD’s creates huge opportunity for the automotive wire harness experts working for OEMs, development service providers and the suppliers.

There are three significant factors in the automotive industry which affect the cable and wire industry. The first factor is to keep the long-term trend of cars on the road, especially the new models getting launched or are planned to get launched, which integrates wiring harness in it to attract the users. The second factor is to make industry-wide design of the vehicle lighter, and more fuel-efficient cars which requires efficient harness design. And the third factor is the upcoming trend of integrating electronic interfaces with the drivers control systems as well as the passenger compartment. Thus, mounting the complexity and number of harnesses in vehicles. The advancement in technology increased the acceptance of educational robots, which integrates AI and analytics. The commercial vehicle wiring harness market is dynamically growing in terms of volume and revenue in recent years.

The market players are concentrating majorly on the advancement in their wiring harness components used to efficiently connect as well as integrate these wires and cables for the electrification of the vehicle. The local and federal law government is imposing mandatory regulations and compliances for the development of these wiring harness globally. Several companies providing wiring harness are focusing on development and come up with advanced and efficient components. The growth in demand of electric vehicle globally is expected to flourish the revenue generation stream of the commercial vehicle wiring harness market.

The major companies operating in the commercial vehicle wiring harness market that are profiled in the report include Motherson Sumi Systems Limited, DRÄXLMAIER Group, AME Systems (Vic) Pty Ltd, Yazaki Corporation, THB Group, Sumitomo Electric Group, SPARK MINDA (Ashok Minda Group), Nexans Autoelectric, Lear Corporation, and Furukawa Electric Co. Ltd.

Few on the significant investments from the industry are mentioned below:

Year

News

Country

2019

Motherson announce the set-up of new wiring harness unit in UAE. From this new unit the company produce a wide product portfolio which includes wiring harnesses, injection-molded parts, rearview mirrors for passenger cars, and many more from its Rakez manufacturing unit.

UAE

2017

Yazaki Corporation started its new company in Serbia, namely, Yazaki Serbia d.o.o. in order to produce automotive wiring harness. The company is a subsidiary of Yazaki Wiring Technologies GmbH.

Serbia

2016

AME system announced the opening of its new facility in the Bayswater, London, UK. This new facility has replaced the Kilsyth premises, and is more modern, user friendly building, along with the additional space as well as efficient layout which enhances the production process to be carried out on site with the growth in its business.

UK

 

Leave a Reply

Your email address will not be published. Required fields are marked *