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According to our latest market study, titled “Wire Harness Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by product type, material, and end-user,” the market is expected to grow from US$ 88,639.39 million in 2022 to US$ 129,995.33 million by 2028. It is estimated to grow at a CAGR of 6.6% from 2022 to 2028.

The report makes inclusion of vital information such as market size, growth rate, and valuation of each segmental, regional and country level market, and growth opportunities in related niche market segments. This information has been incorporated after a thorough study of primary and secondary sources.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis: – https://www.theinsightpartners.com/sample/TIPRE00017188/

The companies profiled in the Wire Harness market are DRÄXLMAIER Group; Fujikura Ltd.; Furukawa Electric Co. Ltd.; Lear; LEONI; Motherson Group; Nexans; Sumitomo Electric Industries, Ltd; THB Group; Yazaki Corporation; and Yura Corporation.

Wire harnesses, also known as cable harnesses, are used for organizing wires and cables. They are used in various industries, such as automobiles, food & beverage, agriculture, and electronics. Market players have to follow some stringent regulations and standards for production in the overall market. One such standard is IPC/WHMA-A-620 Revision D, introduced by IPC and Wiring Harness Manufacturer’s Association (WHMA). Demand for wiring harnesses has increased in the past few years due to the rising global wire and cable consumption. This has also led to increase in production in several regions of Asia-Pacific.

This data has been documented in a systematic manner by dividing the market into segments based on type, application, end user, and region. The report also includes conclusive numerical information in the form of charts and tables to aid industry leaders in understanding the market scenario and opinions of different experts.

The semiconductor sector has been experiencing severe shortages since 2020. Therefore, considering all effects of the COVID-19 pandemic, the overall market was impacted somewhat negatively. However, several markets restarted in 2021, factories resumed their work, and almost all the industries restarted to produce. The wire harness market players resumed production and revenues increased substantially post the recovery from the pandemic, in 2021. Consequently, the demand for wiring harnesses began to rise globally and is expected to continue during the forecast period.

An increase in government support for various industries is one of the factors contributing to the wire harness market growth. For instance, in December 2021, the Government of India announced an extra tax deduction of US$ 1,879.46 on the purchase of an electric vehicle on loan. Due to this, the production of electric vehicles has increased, leading to the massive demand for wiring harnesses and, thus, propelling the wire harness market growth.

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Based on material, the market is segmented into PVC, Vinyl, thermoplastic elastomer, polyurethane, and polyethylene. Wiring harnesses of these materials are made for a variety of environments; thus, every end user can procure them as per their requirement. For instance, a harness made of polyethylene should be used for a moist environment, as polyethylene can resist moisture.

Based on product type, the market is segmented into wire harness connectors, wire harness terminals, and others. The others segment held the largest market share in 2021. Based on material, the global market is segmented into PVC, vinyl, thermoplastic elastomer, polyurethane, and polyethylene. The PVC segment dominated the market in 2021. Based on end user, the market is segmented into automotive, agriculture, appliances, and others. The automotive segment led the global market in 2021.

The COVID-19 pandemic has shaken several industries, such as manufacturing, consumer electronics, IT & telecommunication, and automotive. Due to the outbreak of the COVID-19 virus, the wire harness market share considerably dropped in several regions. The COVID-19 crisis slightly negatively impacted the electronics & semiconductors industry in 2020. Components for several consumer electronics goods, such as laptops and televisions, are produced by semiconductor businesses. Consumers buy the majority of items in this category with discretionary money; hence, the local GDP strongly correlates with demand. As a result, the decline in demand for consumer electronics semiconductors is expected to continue by Q4 of 2022.

Chapter Details of Wire Harness Market: Part 01: Executive Summary Part 02: Scope of The Report Part 03: Wire Harness Market Landscape Part 04: Wire Harness Market Sizing Part 05: Wire Harness Market Segmentation by Product Part 06: Five Forces Analysis Part 07: Customer Landscape Part 08: Geographic Landscape Part 09: Decision Framework Part 10: Drivers and Challenges Part 11: Market Trends Part 12: Vendor Landscape Part 13: Vendor Analysis

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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