Automotive Tire Market is to be worth US$ 190 Bn by 2026 - TMR

Several players in the global automotive wiring harness market are focusing on unveiling products to meet the high performance parameters of end-use applications in vehicles. To this end, they are majorly focusing on strength and bending properties of the developed materials. Transparency Market Research (TMR) notes that numerous companies in the automotive wiring harness market are focusing on entering into strategic tie-ups to garner competitive gains in the near future. In addition, top players are focusing on expanding their geographical footprints. Some of the prominent companies intensely engaged in competing against one another are Delphi Automotive LLP, Lear Corp., Leoni Ag, Minda Automotive Solution, Nexans Autoelectric, and THB Group.

The automotive wiring harness market stood at US$45.4 bn in 2014. The market will garner a promising CAGR of 8.60% during 2015–2021 and attain a worth of US$80.5 bn by 2021 end.

Among the various types of vehicles, light vehicles has been dominating the global automotive wiring harness market for past few years. The extensive uptake is attributed to the low maintenance aspect of light vehicles and better fuel combustion efficiency.

On the regional front, Asia Pacific holds vast potential in the global automotive wiring harness market and is projected to clock a major CAGR during 2015–2021. The regional demand is fueled by the rising prospect of wiring harness as advanced automotive electronics technologies in vehicles. Regulatory impetus for safe driving is also bolstering demand for automotive wiring harness.

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