Automotive Secondary Wiring Harness: Global Strategic Business Report

Global Automotive Secondary Wiring Harness Market to Reach $46.5 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Automotive Secondary Wiring Harness estimated at US$19.6 Billion in the year 2020, is projected to reach a revised size of US$46.5 Billion by 2027, growing at a CAGR of 13.1% over the analysis period 2020-2027. HEV, one of the segments analyzed in the report, is projected to record a 12.8% CAGR and reach US$24.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the BEV segment is readjusted to a revised 13.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.3 Billion, While China is Forecast to Grow at 17.2% CAGR

The Automotive Secondary Wiring Harness market in the U.S. is estimated at US$5.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2027 trailing a CAGR of 17% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.4% and 11.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.7 Billion by the year 2027.

PHEV Segment to Record 14.2% CAGR

In the global PHEV segment, USA, Canada, Japan, China and Europe will drive the 14.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.7 Billion in the year 2020 will reach a projected size of US$6.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 15.9% CAGR through the analysis period.

Select Competitors (Total 41 Featured) -

• Delphi Automotive LLP
• Furukawa Electric Co., Ltd.
• Lear Corporation.
• Leoni AG
• Nexans
• Samvardhana Motherson Group.
• Spark Minda, Ashok Minda Group
• Sumitomo Electric Industries, Ltd.
• THB Group
• Yazaki Corporation

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