Automotive Secondary Wiring Harness Market Rising Demand for Compact Wiring Harness and Emerging New Advanced Technologies
Automotive Secondary Wiring Harness Market by Application (Engine, Cabin, Door Harness, Airbag Harness, Electronic Parking Brakes, Electronic Gear Shift System), Vehicle Type, EV type (BEV, HEV, PHEV), and Region - Global Forecast to 2022
(EMAILWIRE.COM, May 01, 2019 ) The automotive wiring harness market is projected to grow at a CAGR of 5.83% during the forecast period, from an estimated market size of USD 81.17 billion in 2018 to USD 120.69 billion by 2025. The key growth drivers for the market are the rising trend of integrating advanced features for improving vehicle performance and growing demand for electric vehicles globally.
Expansion is the key strategy adopted by major players to gain traction in the automotive wiring harness market. In July 2017, Yazaki (Japan) established a new company to manufacture automotive wiring harnesses in Serbia. The new company, named Yazaki Serbia, is a wholly-owned subsidiary of Yazaki Wiring Technologies GmbH. It would principally supply wiring harnesses to European truck manufacturers. The company invested USD 27.61 million for setting up the new plant in Serbia. In November 2017, Leoni (Germany) inaugurated its third wiring system plant in Mexico to cater the demand from the consumers of North America and Asia Pacific. In September 2017, the company opened a second automotive cable manufacturing plant in Ukraine. This development by the company is valued at USD 24 million and indicates the company’s growth.
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The second most widely followed strategy by market players is new product development. In November 2017, Leoni (Germany) developed an optical fiber with new capabilities for automotive applications. This 360-degree beam optical fiber can be used for automotive ambient lighting and individual product design. Also, in August 2017, the company introduced automated production of wiring systems for automotive applications. This development may provide the company a competitive edge over its global competitors. In January 2018, Furukawa (Japan) developed a new automatic cutting and crimping equipment that is well-suited for anti-corrosion terminals. These kinds of terminals are used for aluminum wires in vehicle wire harnesses. Thus, the company can increase its customer base by offering developed terminals for automotive wiring harnesses.
Yazaki (Japan) is one of the key players in the automotive wiring harness market. The company is primarily engaged in the manufacturing of automotive wiring harnesses, meters, charging connectors, and electric wires. The company offers wiring harnesses in a unique architectural design known as the four-network system, which is further connected to the “vehicle network gateway.” The company also contributes to the development of charging devices, which enhance the performance and convenience of hybrid and electric vehicles. The company’s major customers include leading OEMs in the automotive industry, such as Audi (Germany), BMW (Germany), General Motors (US), Chrysler (US), Ford Motors (US), Hyundai (South Korea), and Toyota (Japan).
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Sumitomo Electric (Japan) is another promising player of the automotive wiring harness market. The company provides wiring harnesses of high quality and upgraded technology for electric vehicles (EVs) and ICE vehicles. It also develops high-strength aluminum wiring harnesses, which reduce the weight of the harness and improve high voltage carrying capacity. Thus, the company is ranked amongst the leading players in the global automotive wiring harness market. In November 2017, Sumitomo and GoMentum Station (US) established a partnership to develop autonomous and connected vehicle technologies. This partnership would help to introduce advanced automated vehicle technology. In addition, the company collaborated with NEC Corporation (Japan) for the planning and development of automotive components. The collaboration would help to develop transportation infrastructure systems by optimizing artificial intelligence (AI) and Internet of Things (IoT) technologies.
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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Expansion is the key strategy adopted by major players to gain traction in the automotive wiring harness market. In July 2017, Yazaki (Japan) established a new company to manufacture automotive wiring harnesses in Serbia. The new company, named Yazaki Serbia, is a wholly-owned subsidiary of Yazaki Wiring Technologies GmbH. It would principally supply wiring harnesses to European truck manufacturers. The company invested USD 27.61 million for setting up the new plant in Serbia. In November 2017, Leoni (Germany) inaugurated its third wiring system plant in Mexico to cater the demand from the consumers of North America and Asia Pacific. In September 2017, the company opened a second automotive cable manufacturing plant in Ukraine. This development by the company is valued at USD 24 million and indicates the company’s growth.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248141482
The second most widely followed strategy by market players is new product development. In November 2017, Leoni (Germany) developed an optical fiber with new capabilities for automotive applications. This 360-degree beam optical fiber can be used for automotive ambient lighting and individual product design. Also, in August 2017, the company introduced automated production of wiring systems for automotive applications. This development may provide the company a competitive edge over its global competitors. In January 2018, Furukawa (Japan) developed a new automatic cutting and crimping equipment that is well-suited for anti-corrosion terminals. These kinds of terminals are used for aluminum wires in vehicle wire harnesses. Thus, the company can increase its customer base by offering developed terminals for automotive wiring harnesses.
Yazaki (Japan) is one of the key players in the automotive wiring harness market. The company is primarily engaged in the manufacturing of automotive wiring harnesses, meters, charging connectors, and electric wires. The company offers wiring harnesses in a unique architectural design known as the four-network system, which is further connected to the “vehicle network gateway.” The company also contributes to the development of charging devices, which enhance the performance and convenience of hybrid and electric vehicles. The company’s major customers include leading OEMs in the automotive industry, such as Audi (Germany), BMW (Germany), General Motors (US), Chrysler (US), Ford Motors (US), Hyundai (South Korea), and Toyota (Japan).
Request sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=248141482
Sumitomo Electric (Japan) is another promising player of the automotive wiring harness market. The company provides wiring harnesses of high quality and upgraded technology for electric vehicles (EVs) and ICE vehicles. It also develops high-strength aluminum wiring harnesses, which reduce the weight of the harness and improve high voltage carrying capacity. Thus, the company is ranked amongst the leading players in the global automotive wiring harness market. In November 2017, Sumitomo and GoMentum Station (US) established a partnership to develop autonomous and connected vehicle technologies. This partnership would help to introduce advanced automated vehicle technology. In addition, the company collaborated with NEC Corporation (Japan) for the planning and development of automotive components. The collaboration would help to develop transportation infrastructure systems by optimizing artificial intelligence (AI) and Internet of Things (IoT) technologies.
View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-secondary-wiring-harness-market-248141482.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Shelly Singh
Tel: 18886006441
Email us
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MarketsandMarkets™
Mr. Shelly Singh
Tel: 18886006441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results