The global wire harness market is poised to grow by USD 33.95 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Wire Harness Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on “Wire Harness Market Analysis Report by Application (Automotive, Telecom, Medical, and Others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the increasing automotive sales. In addition, the investments in telecommunication infrastructure are anticipated to boost the growth of the wire harness market.
Factors such as growing economic activities, rising income levels, and the expansion of the middle-class population have increased the sale of small and medium-sized passenger cars in countries such as China and India. Developed countries such as the US are also witnessing significant growth in the sale of light trucks and sports utility vehicles. In addition, several governments across the world are issuing bans on older vehicles to reduce pollution levels. This has further increased the sale of new vehicle models. Wire harness is an integral part of automobiles as it enables energy transmission and communication between all vehicle components. With the rise in the number of vehicle sales, there will be a commensurate increase in the demand for wire harness during the forecast period.
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Major Five Wire Harness Market Companies:
Aptiv Plc operates its business through segments such as Signal and Power Solutions and Advanced Safety and User Experience. The company offers a wide range of products and solutions for automotive wire harness. Some of its key offerings include basic cable harness, engine harness, high-voltage cable harness, technical sub-harness, and pre-formed harness.
Fujikura Ltd. operates its business through segments such as Power and Telecommunication Systems Company, Electronics Business Company, Automotive Product Company, and Real Estate Business Company. The company offers a wide range of wiring harness products for automotive applications.
Furukawa Electric Co. Ltd.
Furukawa Electric Co. Ltd. operates its business through segments such as Communications Services, Energy Infrastructure, Automotive Products and Batteries, Electronics Component Materials, Functional Products, and Service and Developments, etc.
Lear Corp. operates its business through segments such as Seating and E-Systems. The company offers wire harnesses such as traditional 12V to 48V, mild hybrid wire harness, and high-voltage wire harness for the automotive industry.
LEONI AG operates its business through segments such as Wiring Systems Division and Wire and Cable Solutions Division. The company offers a wide range of wire harnesses for automotive applications.
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Wire Harness Market Application Outlook (Revenue, USD Billion, 2020-2024)
Wire Harness Market Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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