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NEW YORK , March 22, 2022 /PRNewswire/ -- The wire harness market value is anticipated to grow by USD 33.95 bn from 2019 to 2024. The growth momentum of the market will progress at a CAGR of over 5% during the forecast period.
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The increasing sales of automobiles across the globe are driving the global wire harness market. Wire harness enables energy transmission and communication between all the components in vehicles. Technological advances, along with cost and weight optimization, will drive the demand for wire harnesses in the automotive sector during the forecast period. The market is facing rapid advances and the upgrade of the existing equipment, which is expected to increase the adoption of wire harnesses during the forecast period.
The short life cycle of wiring harnesses is challenging the global wire harness market. Factors such as dynamic consumer expectations and technological innovations are increasing the pressure on wire harness and automotive electronics manufacturers to offer improved products for OEMs and tier-1 suppliers. The continuous launch of new products raises the need to reduce the cycle time for automobile production to sustain in the competitive market.
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The wire harness market report includes information on the product launches, sustainability, and prospects of leading vendors, including Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Lear Corp., LEONI AG , Nexans SA, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and Yura Corp. The key offerings of some of these vendors are listed below:
The competitive scenario provided in the wire harness market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
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Accelerate at a CAGR of 5%
APAC, Europe, MEA, North America, and South America
Leading companies, competitive strategies, consumer engagement scope
Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Lear Corp., LEONI AG, Nexans SA, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and Yura Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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