As cited by the research report titled ‘Global automotive wiring harness Market by Application Type (Body Wiring Harness, Engine Wiring Harness, Chassis Wiring Harness, HVAC Wiring Harness, and Sensors Wiring Harness), and Vehicle Type (Two Wheelers, Passenger Cars, and Commercial Vehicles) and Regional Forecasting 2020-2027’, available with Market Study Report, global automotive wiring harness market was worth USD 81.1 billion in 2019 and is projected to grow with a CAGR of 5.10% over 2020-2027 to be appraised at USD 120.7 billion by the end of study duration.
 

Increasing assimilation of electronic devices into vehicles to boost safety features is acting as a driver for global automotive wiring harness market. Moreover, advancements in technology used in vehicles, and increasing demand for electric vehicles are further augmenting the market outlook.
 

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For the record, an automotive wiring harness is an electrical assembly of various components in a vehicle that communicate authority and knowledge to a single system. It plays a crucial role in transfer of information of vehicle activity, transmission & reception of sensor signals, and electricity supply.
 

However, high cost for maintenance is acting as a restraint for the growth of global automotive wiring harness market.
 

Based on application, the industry is segmented into engine wiring harness, HVAC wiring harness, body wiring harness, chassis wiring harness, and sensors wiring harness among others. Speaking of vehicle type, global automotive wiring harness marketplace is divided into passenger cars, two wheelers, and commercial vehicles.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are major revenue generators for worldwide automotive wiring harness market. Of these, Asia Pacific is projected to be a major growth hub for the market over 2020-2027, owing to rising standards of the upper middle class, and increasing demand for premium vehicles.
 

Whereas, North America market is poised to grow lucratively over the forecast period due to amplifying automotive sector, which is boosting demand for wiring harness.
 

Key players in global automotive wiring harness industry include Yura Corporation d.o.o., Yazaki Corporation, Nexans autoelectric GmbH, Samvardhana Motherson Automotive Systems Group BV, Spark Minda-Ashok Minda Group, THB Group, Lear Corporation, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., and Delphi Automotive LLP (Aptive plc).