Automotive Secondary Wiring Harness Market

Sumitomo Electric Industries, Ltd. (Japan) and Delphi Automotive LLP. (UK) are the Top Players in the Automotive Secondary Wiring Harness Market

Growing technology and increasing demand for electric vehicles have changed the market dynamics for the automotive secondary wiring harness market. The automotive secondary wiring harness market is projected to grow at a CAGR of 20.96% during the forecast period, to reach a market size of USD 33.78 Billion by 2022. Asia Pacific and North America are estimated to be the largest markets for automotive secondary wiring harness in 2017 because of the increased use of secondary wiring harness in vehicles in the recent years. Asia Pacific is estimated to be the fastest growing market for automotive secondary wiring harness owing to the largest passenger car production and growing penetration of electric vehicle in markets such as China and Japan. Also, due to increasing electrification of vehicles and inclination toward economic cars with high comfort and advanced technology, the future demand for automotive secondary wiring harness market in countries such as India and South Korea would grow steadily. Government subsidies and grants for electric vehicles and stringent emission norms in various countries drive the demand for electric vehicles and, subsequently, the demand for secondary wiring harness all over the world

The top players in the automotive secondary wiring harness market include Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Delphi Automotive LLP. (UK), Yazaki Corporation. (Japan), Furukawa Electric Co., Ltd. (Japan), and Leoni AG (Germany).

Sumitomo Electric Industries, Ltd. (Japan) is the largest manufacturer of wiring harnesses for automotive industry. Sumitomo Electric Industries, Ltd. has presence in various verticals, including electronics & automotive systems, telecommunication, energy & industrial products and metals. under According to the company’s annual report, it has presence in the Americas, Europe, Asia Oceania, Japan, and Africa. It employed more than 240,865 employees as of March 31, 2016, Sumitomo Electric Industries, Ltd. has a segmental revenue of 52% from Automotive, 22% from Environment & Energy, 10% from Electronics, 10% from Industrial Materials & Others, and 6% from Info-communications. The company generated a revenue of USD 25.08 billion and invested USD 1.00 billion in 2015 in R&D. The company has adopted joint venture strategy to develop the wiring harness business across the globe. For instance, in March 2014, Sumitomo Electric Industries, Ltd. Bordnetze formed a joint venture with a Belarus-based manufacturer. Through this joint venture, Sumitomo supplies automotive wiring harness systems to Volkswagen Group.

Another important player in this market is Delphi Automotive LLP. (UK), which is one of the major suppliers of automotive secondary wiring harness. It deals in segments such as body & security, connection systems, driver interface, electrical/electronic architecture, hybrid & electric vehicle products, infotainment, powertrain systems, and safety electronics for automotive industry. As per the company’s 2016 annual report, it has a segmental revenue of 55.4% from Electrical/Electronic Architecture, 26.7% from Powertrain Systems, and 17.9 % from electronics & safety. The company generated a revenue of USD 16.66 billion and invested USD 1.50 billion in R&D in 2016. Acquisition is the key strategy used by this company. For Instance, in July 2015, Delphi Automotive LLP acquired Hellermann Tyton Group Plc. (US) for USD 1.7 billion. This acquisition would increase business in Electrical/Electronic architecture segment of Delphi Automotive LLP.

Related Reports:

Automotive Secondary Wiring Harness Market by Application (Engine, Cabin, Door Harness, Airbag Harness, Electronic Parking Brakes, Electronic Gear Shift System), Vehicle Type, EV type (BEV, HEV, PHEV), and Region - Global Forecast to 2022

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Automotive Secondary Wiring Harness Market Size,  Share & Growth Report
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