Insights on the Automotive Wiring Harness Global Market to 2025 - Impact Analysis of COVID-19
DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Global Automotive Wiring Harness Market, By Vehicle Type (Passenger Cars and Commercial Vehicles (*including electric vehicles)), By Application Type, By Component Type, By Material Type, By Company Forecast & Opportunities, 2015-2025" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Wiring Harness Market stood at USD 47.98 Billion in 2019, in value terms, and is projected to surpass USD 67.53 Billion by 2025, growing at a CAGR of 15.63% in the next five years. Anticipated growth in the market can be attributed to growing demand for automobiles and inclination towards quality aspect of vehicles. Nowadays, auto-makers are focusing on wires which occupies less space and are lighter in weight. Electrical subsystems form an integral component to transfer energy for functioning of different components or parts of the vehicles which is driving the automotive wiring harness market. However, high replacement cost and lack of efficacy among workers required for the crimping process can hamper the growth of the market.
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