Lewes, DE -- (SBWIRE) -- 12/01/2016 -- Report forecast the global automotive wiring harness market to grow at a CAGR of 6% during the period 2016-2020.

An automotive wiring harness is an assembly of electric wires or cables and other components such as connectors and clamps used to transfer information and power among the electronic components of a vehicle. It is also known as a wiring loom for vehicles. Electric wires are tied together with the help of different components such as cable ties, electrical tapes, conduits, or a combination of these to form the complete wiring assembly. An automotive wiring harness safeguards the wires against the impact of vibrations.

In addition, it also safeguards the components from abrasions and moisture. The design of the automotive wiring harness has become more complicated with an increase in the number of connected components in vehicles. Companies have developed design software like computer-aided design (CAD) tools to design automotive wiring harnesses.

The report covers the present scenario and the growth prospects of the global automotive wiring harness market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors in the market.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the primary drivers in the market is automation to drive down the manufacturing cost of automotive wiring harnesses. Automating systems in manufacturing facilities will not only improve the quality of products, but it will also bring uniformity in the products. This will lead to improved customer relation and reduced cost of manufacturing owing to reduced labor cost and wastage. The need for automation is further influenced by increased demand for miniaturized wiring harnesses, which cannot be manufactured with acceptable quality using the manual manufacturing process.

Further, the report states that one major challenge in the market is low-cost manufacturing countries to lose their cost advantage. In the automotive industry value chain, OEMs have been absorbing the liability for most of the warranty costs and price pressure from the demand side in the past. However, this situation has changed over the past 5-6 years where OEMs have pushed liabilities on Tier-1 suppliers that in return push to component manufacturers. This has led to cost optimization across the industry to maintain profitability. One such means was to outsource manufacturing activities to low-cost countries such as China, Taiwan, South Korea, and India. These countries are among the largest manufacturers of automotive connectors in the world. The primary reason for high concentration of automotive connectors manufacturers in these countries is attributed to the drastic shift of electronic manufacturing to these countries due to their cost advantages. This was possible earlier because of the availability of low-cost labor, ease in establishing a raw material supply chain, and availability of raw materials.

Global Automotive Wiring Harness Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global automotive wiring harness market: Delphi Automotive, Lear, Leoni, Sumitomo Electric Wiring Systems, and Yazaki.

Other prominent vendors in the market are: Coroplast, Fujikura, Furukawa, PKC, and Yura.

Market driver
- Expanding EV sector to spur the demand for automotive wiring harnesses.
- For a full, detailed list, view our report

Market challenge
- Rising pressure from OEMs to reduce component costs.
- For a full, detailed list, view our report

Market trend
- Smart materials to shape the future of automotive wiring harnesses.
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 90 pages and 58 Exhibits "Global Automotive Wiring Harness Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by vehicle type, Market segmentation by application type, Market segmentation by geography, Market drivers, Market challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-automotive-wiring-harness-market-2016-2020

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