Publication Month: Feb 2020 | Report Code: TIPRE00003274 | No. of Pages: 152 | Category: Automotive and Transportation | Status: Published
The market for commercial vehicle wiring harness involves a number of tier1, tier2 and tier3 companies globally which capitalizes considerable amounts with an objective to design and manufacture advanced wiring harness components which are integrated as body wiring harness, engine wiring harness, and chassis wiring harness. The continuous modernizations in the field of technologies for a wide variety of applications in the lightweight commercial vehicle (LCV), medium & heavyweight commercial vehicle (HCV) are attracting several automakers across the world, which is paving the path for commercial vehicle wiring harness market in the current scenario.
The automotive industry across the world is constantly experiencing the rise in the number of several new carmakers. The automotive giant’s manufacturers are continuously eyeballing on the development of the electric vehicle segment as the section is attracting the interest of the customers globally. Some of the significant players are catalyzing the market for electric vehicles, namely: Tesla, Ford, Nissan, BMW, and Volkswagen, among others. Electric vehicles consist of several types of wiring harnesses along with semiconductors, which enhance the safety, reliability, and performance of the vehicles. According to the International Energy Agency, the fleet of electric vehicles grew to 5.1 million, marking a growth of about up 2 million over the last year globally. The growing electrification of vehicles is leading the automotive industry as well as associated industries to a greater extent. The increasing production and demand for electric vehicle is expected to propel the commercial vehicle wiring harness market.
Based on vehicle type, the commercial vehicle wiring harness market is segmented into lightweight commercial vehicle (LCV), and medium & heavyweight commercial vehicle (M&HCV). The quest among the LCV manufacturers to procure advanced technologies in order to gain customer attraction is harnessing the growth of commercial vehicle wiring harness market through LCV segment. On the other hand, the heavyweight commercial vehicle (HCV) segment is expected to witness significant growth rate owing to the rapid integration of robust technologies on these vehicles.
The SUV segment, by LCV type, dominated the commercial vehicle wiring harness market in 2018. The growing popularity of SUVs across the globe is continuously growing. With the fluctuating global economy, the increasing trade tensions and a slowdown in the Chinese market growth, the car industry are looking for different innovating ways to expand their business. With the growth in the living standard of the citizens globally is diverting their interest towards the advanced features of SUV, which bolster the commercial vehicle wiring harness market.
The medium & heavyweight commercial vehicle (M&HCV) segment consists of medium and heavy trucks, heavy mining vehicles, heavy construction vehicles, heavy agriculture vehicle, and medium agriculture vehicle/tractor that have a gross vehicle weight of more than 16.2 tons. . Owing to the increase in the transportation and logistics sector among the countries globally, several M&HCV manufacturers have emerged across the world thereby increasing the commercial vehicle wiring harness market in terms of revenue.
|Market Size Value in||US$ 11.50 Billion in 2018|
|Market Size Value by||US$ 16.00 Billion by 2027|
|Growth rate||CAGR of 3.9% from 2019-2027|
|No. of Pages||152|
|No. of Tables||83|
|No. of Charts & Figures||75|
|Historical data available||Yes|
|Segments covered||Vehicle Type ; LCV Type ; M&HCV Type|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The market players operating in commercial vehicle wiring harness market 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. Further, several companies providing wiring harness are focusing on development and come up with advanced and efficient components.
The List of Companies - Commercial Vehicle Wiring Harness Market