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Global Automotive Wiring Harness Market Projected to be Worth US$ 70.4 Bn by …

London, Apr 28, 2015 (GLOBE NEWSWIRE) — Future Market Insights, in a latest report
titled,”Global Automotive Wiring Harness Market Analysis
and Opportunities Assessment, 2014-2020
, states
that a tellurian automotive wiring strap marketplace accounted for US$
42.1 Bn in 2014 and is approaching to strech US$ 70.4 Bn, flourishing during a
CAGR of 8.9% by 2020. Western Europe, a pivotal shred in the
global automotive wiring strap market, is approaching to grow during an
estimated CAGR of 8.3% during a foresee period.

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By car type, a global automotive
wiring strap market is segmented into a newcomer vehicle,
commercial vehicle, electric vehicle, and a hybrid vehicle. The
combined tellurian marketplace for newcomer and blurb wiring harness
market is approaching to strech US$ 58 Bn by 2020. Wiring strap cost
is comparatively aloft in blurb vehicles, and according to FMI’s
analysis, this shred will register a CAGR of 8.5% during the
forecasted period.

By application, a tellurian automotive wiring
harness marketplace is segmented into a chassis, heat, movement and
air conditioning (HVAC), and sensors. Chassis and HVAC application
segment collectively contributed around 88.9% of marketplace income in
2014. The horizon was a largest focus in a global
automotive wiring strap marketplace in 2014 and is approaching to
continue a prevalence by 2020. HVAC is a second largest
application shred of a tellurian automotive wiring strap market
and is approaching to register a fastest CAGR of 11.7% during the
forecast period.

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Incorporating electronic functions in automotive impacts the
cabin space and weight, and wiring strap is a possibly approach of
countering this. Considering a correspondence to environmental safety
guidelines, inner explosion engine (ICE) downsizing is a most
efficient approach to revoke fuel glimmer and accommodate destiny environmental
standards. This is another cause that has supposing an procedure to
the tellurian automotive strap market.

The pivotal challenges in a automotive
wiring strap marketplace are a augmenting cost of tender materials and
price strategy by pivotal marketplace players. Utilisation of automotive
ethernet represents a new trend in a inner and external
connectivity of a vehicle. Automotive ethernet reduces a use of
complex wiring strap designs to a good extent, and this factor
can poise a plea to a tellurian automotive wiring harness
market.

The motorization trend has extremely extended a economy of
Asia Pacific countries, quite in China, hence ensuing in
strong expansion for a automotive attention with augmenting direct of
automotive wiring harnesses. Rise in fuel prices, stringent
regulations, and consumer recognition concerning CO emissions
have also resulted in many initiatives by automakers, such as
internal explosion engine downsizing.

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Region-wise, Western Europe is a largest
contributor in a tellurian marketplace and is approaching to continue its
dominance compartment 2020. Currently, a Western Europe wiring harness
market is valued during US$ 10.2 Bn and is approaching to strech US$ 16.4
Bn by 2020. North America and APAC are other vital markets and have
a share of 19.6% and 20.5% respectively in terms of global
automotive wiring strap marketplace revenue. Middle East Africa
(MEA) had a lowest income share in 2014, though it is anticipated
that it will enhance during a CAGR of 9.8% over a foresee period.

Major marketplace participants in tellurian wiring
harness marketplace embody Yazaki Corporation, Sumitomo Electric
Industries, Denso Corporation, LEONI, Delphi Automotive, Fujikura
Ltd., Furukawa Electric Co. Ltd, Lear Corporation, Aisin Seiki Co.,
Ltd., and Samvardhana Motherson Group.

About Us

Future Market Insights (FMI) is a heading market
intelligence and consulting firm. We broach syndicated research
reports, tradition investigate reports and consulting services that are
personalized in nature. FMI delivers a finish finished solution,
which combines stream marketplace intelligence, statistical anecdotes,
technology inputs, profitable expansion insights and an aerial perspective of
the rival horizon and destiny marketplace trends.

Our investigate services cover tellurian as good as informal emerging
markets such as GCC, ASEAN and BRICS. Our offerings cover a
broad spectrum of industries including Chemicals, Materials,
Energy, Technology, Healthcare and Retail. FMI’s handling model
blends cross-disciplinary investigate knowledge to muster in-depth,
insightful and actionable research.

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Article source: http://globenewswire.com/news-release/2015/04/28/729078/10131091/en/Global-Automotive-Wiring-Harness-Market-Projected-to-be-Worth-US-70-4-Bn-by-2020-FMI-Estimates.html

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