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Automotive Harness System Market Trends

Report ID: GMI6074
Published Date: Jun 2023
Report Format: PDF

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Automotive Harness System Market Trends

The growing demand for lightweight & compact harness systems to accommodate the increasing number of electrical components in vehicles while minimizing space requirements and weight is expected to inject significant growth in the coming years. The rising need for advanced wiring technologies capable of handling higher data transfer rates required for in-vehicle communication networks and ADAS is also fueling market growth. Additionally, emphasis on enhancing the durability, reliability, and ease of installation of harness systems to optimize vehicle assembly processes is anticipated to favor market demand.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

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

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.

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

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