An assembly of wires, terminals, and connections known as an "automotive wiring harness" runs throughout the vehicle to transport data and electrical power. The automotive wire harness is integrated to connect various vehicle parts, including the body, engine, chassis, dashboard, and others.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Automotive Wiring Harness Market Size, Share & Industry Trends Analysis Report By Material, By Application, By Propulsion, By Voltage, By Vehicle Type, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321850/?utm_source=GNW It is developed to meet the electrical and dimensional requirements of automobiles. To ensure fundamental operation and improved safety, an automotive wire harness facilitates the transfer of control signals and electrical power to electronic and electrical devices. Today’s automobiles come with electrical components that not only allow them to move, turn, and stop, but also carry out several additional tasks. To operate these electronic components and send power and messages to every section of the car, wiring harnesses are essential. They are essential parts similar to the blood veins and nerves in the human body, consisting of connectors, terminals, clamps, sheaths, and other components surrounding a core of electrical wires. Since 1987, the wiring harness has been the foundation of the company. For the automotive industry, Sumitomo Electric Wiring Systems creates and produces wiring harness components of the highest caliber and greatest dependability. A wiring harness is a logical arrangement of wires, terminals, and connectors that runs throughout the entire vehicle and transmits data and electrical power, effectively "connecting" several different components. Similar to how the circulatory and central nervous systems of the human body transmit energy and information, this network does the same. COVID-19 Impact Analysis The COVID-19 pandemic has caused supply-chain interruptions that have delayed the production of automobiles. A number of automakers had a scarcity of wire harness components, which further delayed the production of vehicles. For instance, Hyundai in South Korea ceased operations at the Ulsan complex in 2020 owing to a part shortage. Auto sales suffered a dramatic decline as a result of the COVID-19 pandemic and related lockdowns. The sale of electric vehicles did, however, enjoy growth. Due to greater German purchase incentives, ongoing battery cost drops, and a shift in technology driven by fleet operators to meet 2020 emissions limits, the sale of electric vehicles grew in Europe. Market Growth Factors Vehicle Features that are Becoming More Advanced The desires for driver assistance technology to combine cutting-edge features in automobiles have been spurred by increased awareness about safety and security. Additionally, automakers must adhere to safety regulations and include features like airbags. To increase the comfort of the driving experience, comfort features include voice recognition systems, ambient lighting systems, heated seats, and steering wheels, improved infotainment capabilities, digital IP displays, cooled cupholders, and more power steering functions that have gained popularity. Harnesses with Thin Straps are in Demand The conventional copper wiring harness weighs a lot and takes up a lot of room inside the car. After the engine and chassis, the wiring harness is the third-heaviest component, weighing 50–70 kg. Every day, more wiring harnesses are created as a result of the growing number of features in automobiles. Compared to an internal combustion engine powertrain, the development of the electric powertrain alone adds around 30% extra weight. These elements affect the vehicle’s performance and fuel efficiency while also adding to the weight of the wire harness and the overall vehicle. Market Restraining Factors Concerns about the Wiring Harness’s Lifespan The car has several electrical issues, including non-working front and rear lights, a dead battery, dim lights, a failing alternator, and ignition problems that can result from faulty wire harnesses. Due to quickly varying surroundings, such as sudden temperature changes from extremely hot to extremely cold, the wiring harness might occasionally bend. These issues could cause the wiring harness to deteriorate, shortening its lifespan. For instance, Sumitomo created the aluminum wiring harness, which joins copper-based connectors with aluminum wires. Galvanic corrosion will occur if this mixture of aluminum and copper is exposed to saltwater or another electrolyte solution. Material Outlook Based on the Material, the Automotive Wiring Harness Market is divided into Copper, Aluminum, and Others. The copper segment acquired the highest revenue share in the automotive wiring harness market in 2021. It is due to the electrification of vehicles and the rise in demand for larger vehicles, such as SUVs and full-size vans, which are the main factors driving the high need for copper-based wire harnesses. In this case, copper or copper braiding materials with a tin coating would be employed. Application Outlook On the basis of Application, the Automotive Wiring Harness Market is divided into Body & Lighting, Engine, HVAC, Chassis, Dashboard & Cabin, and Others. The dashboard & cabin segment recorded a significant revenue share in the automotive wiring harness market in 2021. Due to the increasing use of entertainment systems and dashboard displays in various types of vehicles, the dashboard/cabin harness sector now holds a monopoly on the automotive wiring harness market. Utilization of the wiring harness in the vehicle’s seat is increased by the integration of devices like active health monitoring and heated seats. Propulsion Outlook On the basis of propulsion, the Automotive Wiring Harness Market is classified into ICE Vehicles, Electric Vehicles, and Hybrid Vehicles. The ICE vehicles segment procured the largest revenue share in the automotive wiring harness market in 2021. It is due to the fact that more ICE-based cars are produced than electric vehicles (EVs). They are also being swiftly combined with self-driving capabilities as well as vehicle-to-vehicle (V2V) and vehicle-to-vehicle (V2V) communication. Wire harnesses are so crucial in ICE vehicles for transporting power and data among a wide variety of electrical sensors and systems. Voltage Outlook Based on the Voltage, the Automotive Wiring Harness Market is bifurcated into Low Voltage and High Voltage. The high voltage segment witnessed a substantial revenue share in the automotive wiring harness market in 2021. Wires and plastic covers make up the standard high-voltage wiring harness for HEVs. Because the plastic shield doesn’t transfer heat well, a larger-sized wire is required for high-voltage wiring harnesses to minimize Joule-heat loss. Making the molds for new or modified protection also requires a hefty design cost and a longer lead time. To solve these issues, created the pipe shield electrical harness. Vehicle Type Outlook By Vehicle Type, Automotive Wiring Harness Market is segmented into Two Wheeler, Passenger Cars, and Commercial Vehicles. The passenger cars segment garnered the highest revenue share in the automotive wiring harness market in 2021. A four-wheeled vehicle having at least two axles and its driver is referred to as a passenger vehicle. Passenger transportation is its primary objective. Public transit uses a large percentage of passenger cars. Due to their current potential to offer significant environmental, societal, and health benefits, BEVs have become increasingly popular. Regional Outlook Region-wise, the Automotive Wiring Harness Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region segment garnered the largest revenue share in the automotive wiring harness market in 2021. It is because of rising premium car demand, rising disposable income in China and India, and rising use of electric vehicles in the region. Government programs to provide benefits for the purchase of electric vehicles are assisting in the spike in the adoption of electric vehicles. Additionally, the wire harness is needed for the integration of sophisticated technologies in automobiles, which is anticipated to boost market expansion. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lear Corporation, Aptiv PLC, Sumitomo Electric Industries, Ltd., Fujikura Ltd., Nexans SA, Furukawa Electric Co., Ltd., Samvardhana Motherson International Ltd, Leoni AG, Yazaki Corporation and Yura Corporation Recent Strategies deployed in Automotive Wiring Harness Market Partnerships, Collaborations and Agreements: Jun-2022: Sumitomo Electric Industrie signed a memorandum of understanding with the General Authority for Investment and Free Zones, a government department that helps investors. Through this agreement, the companies aimed to introduce a factory under the Free Zone framework, in the industrial Sharqiya town of 10th Ramdan. Additionally, the new factory would deliver wiring harnesses for cars and vehicles would be developed over a 150,000 sq. m-land, and is expected to be the biggest in the world. Dec-2021: Sumitomo Electric Industries joined hands with Valens Semiconductor, a world head in HDBaseT technology. Together, the companies aimed to assure that Sumitomo Electric’s wiring harness systems fulfill the channel conditions of the A-PHY specification, while Valens would add the Sumitomo Electric cable matching and assembly on-board connectors as an ordering opportunity for its VA70XX consumer evaluation tools. Sep-2021: Lear Corporation formed a joint venture with Hu Lane Associate, a listed business on the Taipei stock market and a manufacturer of world-class automotive connector products. This joint venture aimed to develop Lear’s vertical combined abilities to engineer and create an offering of connection systems products for future and current vehicle architectures delivered by global automotive factories. Mar-2020: Aptiv formed a joint venture with Hyundai Motor Group, a South Korean multinational automotive manufacturer. With this joint venture, the companies aimed to increase the companies’ shared aim of creating mobility safer, connected, green, and affordable. Additionally, the joint venture would utilize Hyundai Motor Group’s engineering, design, and manufacturing expertise and Aptiv’s autonomous driving solutions to promote an SAE Level 4/5 platform for robotaxi supplier, fleet managers, and automotive producers. Acquisitions and Mergers: Mar-2021: Lear Corporation completed the acquisition of M&N Plastics, a Michigan-based injection molding professional and manufacturer of engineered plastic elements. This acquisition aimed to boost Lear’s vertical integration abilities to engineer and create intricate parts for electrical dispersals, such as high-voltage wire harnesses and power electronics. Scope of the Study Market Segments covered in the Report: By Material • Copper • Aluminum • Others By Application • Chassis • Engine • Dashboard & Cabin • Body & Lighting • HVAC • Others By Propulsion • ICE Vehicles • Electric Vehicles • Hybrid Vehicles By Voltage • Low • High By Vehicle Type • Passenger Cars • Commercial Vehicles • Two-Wheeler By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Lear Corporation • Aptiv PLC • Sumitomo Electric Industries, Ltd. • Fujikura Ltd. • Nexans SA • Furukawa Electric Co., Ltd. • Samvardhana Motherson International Ltd • Leoni AG • Yazaki Corporation • Yura Corporation Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06321850/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
The catalyst that sent the electric vehicle (EV) maker plunging was quarterly vehicle deliveries that fell short of expectations. In a press release that dropped Sunday, Tesla revealed its third-quarter production and delivery numbers, and while the growth was robust, investors wanted more. In its press release, Tesla addressed the issue, saying, "Historically, our delivery volumes have skewed toward the end of each quarter ... [but] as our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity."
Ford's (F) recent announcement of a whopping $700 million investment in Kentucky will boost employment and new vehicle upgrades. The new '23 F-Series Pickup Truck will be built at its Kentucky plant.
(Bloomberg) -- Pakistan’s small textile mills, which make products ranging from bedsheets to towels mainly for consumers in the US and Europe, are starting to shut after devastating floods wiped out its cotton crop.Most Read from BloombergCredit Suisse Turmoil Deepens With Record Stock, CDS LevelsTesla Slumps as Deliveries Disappoint Due to Logistic SnarlsOPEC+ to Consider Output Cut of More Than 1 Million BarrelsUkraine Latest: Zelenskiy Says Lyman ‘Fully Cleared’ of RussiansGet Ready for Anoth
Dozens of sailings from Asia to U.S. ports are set to be canceled in October as deteriorating economic conditions weigh on demand to ship goods worldwide.
Tesla shares are getting hammered after weaker-than-expected third-quarter delivery numbers. The reason isn't 'cars in transit.'
(Bloomberg) -- The European market for Russia’s seaborne crude is drying up as sanctions draw nearer, and the country’s Asian customers aren’t picking up the slack like they once were. With just over two months until a European Union ban on seaborne crude imports comes into effect, shipments to the bloc plus the UK are down by about 60% from where they were before Moscow’s troops invaded Ukraine.Customers in northern Europe in particular have slashed their purchases, which are now running below
BYD sales nearly tripled in Q3. Nio China EV sales hit a record and Li Auto beat target, both fueled by new models.
An improved supply chain lifted dealer inventory and sales, but rising rates are weighing on car buyers.
Lincoln Police Officers said in a post that that “responded to a 911 call from an iPhone recording indicating the owner of the phone was in a severe crash and was not responding to their phone.”
Carriers focus on challenges in planning their networks and increasing flights as plane makers juggle supply-chain, other constraints.
Oil prices jumped on Monday following reports that the OPEC+ cartel is planning a large production cut. Stephen Innes, managing partner at SPI Asset Management, noted that worries about reduced demand in coming months was evident in markets, where the cost of oil futures were lower in contracts for next year.
GM delivered 14,709 Chevy Bolt electric vehicles in the third quarter, more than doubling the year-to-date Bolt total to 22,012 units. GM is increasing Bolt production to meet demand.
Raymond James Internet and Digital Media Analyst Andrew Marok joins Yahoo Finance Live to discuss Microsoft stock and how digital advertising could provide additional tailwinds for the company.
Automakers will disclose Q3 results as concern about U.S. auto sales shifts from supply to demand. GM stock rallied.
(Bloomberg) -- US coal prices surged past $200 for the first time as a global energy crunch drives up demand for the dirtiest fossil fuel.Spot prices for coal from Central Appalachia rose to $204.95 a ton for the week ending Sept. 30, the highest in records dating to 2005, according to data released Monday by the US Energy Information Administration.Coal remains a leading fuel in US power plants, and the soaring prices will ratchet up pressure on US homes already struggling with record-high elec
These Berkshire Hathaway holdings are growth stocks, and they look like better bargains on the heels of big sell-offs.
Shares of large-cap oil and gas producers Chevron (NYSE: CVX), Occidental Petroleum (NYSE: OXY), and Devon Energy (NYSE: DVN) were in rally mode today, up 5%, 5.4%, and 7.9%, respectively, as of 11:24 a.m. ET. While many stocks were higher today, oil and gas stocks were particularly strong ahead of the upcoming OPEC+ meeting this week. Over the weekend, The Wall Street Journal reported OPEC+ participants would discuss production cuts at the upcoming meeting to offset falling prices, with the potential for a surprisingly large cut in the offing.
Warren Buffett began buying shares of beverage giant Coca-Cola (NYSE: KO) in 1988 through his holding company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), which now owns more than 400 million shares.
ConocoPhillips, Occidental Petroleum, Hess and Cactus have been highlighted in this Industry Outlook article.
The U.S. Supreme Court on Monday again declined to hear Apple Inc's bid to revive an effort to cancel three Qualcomm Inc smartphone patents despite the settlement of the underlying dispute between the two tech giants. The justices left in place a lower court's decision against Apple after similarly turning away in June the company's appeal of a lower court ruling in a closely related case challenging two other Qualcomm patents. Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of mobile-technology patents.