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Automotive Harness System Market Size

Report ID: GMI6074 Published Date: June 2023Report Format: PDF
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Automotive Harness System Market Size

Automotive Harness System Market size was valued at USD 52.2 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032. The increasing complexity of automotive electrical systems, the rising demand for electric & hybrid vehicles, the growing adoption of Advanced Driver Assistance Systems (ADAS), and the integration of advanced infotainment & connectivity features in vehicles are the major factors contributing to market growth. Automotive harness systems are crucial for efficiently routing & managing electrical wiring as well as ensuring reliable communication and power distribution throughout the vehicle. The market presents significant opportunities for harness system manufacturers to cater to the evolving needs of the automotive industry

 

Automotive Harness System Market

An automotive harness system is a combination of electrical cables or an assembly of wires, which connects all Electrical & Electronic (E/E) components in the automotive vehicle. The harness handles the energy and information flow within the E/E system to fulfill primary car functions, such as steering and braking, as well as secondary car functions including ventilation and infotainment.

 

The increasing complexity of automotive electrical systems and the integration of advanced technologies pose design & manufacturing challenges to meet higher data transfer rates and power requirements. Furthermore, the high cost of developing and implementing advanced harness systems can limit adoption, particularly in price-sensitive markets, which is anticipated to hinder market growth during the forecast period.

Author: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :

What is the automotive harness system market worth?+

Market size for automotive harness system was USD 52.2 billion in 2022 and will witness over 5% CAGR from 2023-2032 due to the increasing demand for electric & hybrid vehicles worldwide

Why is the demand for copper automotive harness systems increasing?+

The copper material segment held over 60% of the automotive harness system industry share in 2022 and will witness robust growth rate from 2023-2032 owing to the thriving need for proper functioning of various systems and components.

What is the size of the automotive harness system market in APAC?+

Asia Pacific held over 30% of the global automotive harness system industry share in 2022 driven by the rising investments in electric & hybrid vehicles

Who are the major automotive harness system business players?+

Some of the key automotive harness system providers include Aptiv, Continental AG, Fujikura Ltd., Furukawa Electric Co., Ltd., Gencor Industries, Inc., Lear Corporation, LEONI, and Molex

Automotive Harness System Market Scope

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