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This professional and specialized report study examines the technical and business perspective of the automotive wire industry. The report provides a historical analysis of the industry as well as the projected trends expected to be witnessed in the automotive wire market. The report study analyzes the market statistics at the global as well as the regional levels to gain an in-depth perspective of the overall automotive wire market. The historical insights are provided from 2016 to 2019 and projected trends are provided from 2020 to 2026. The quantitative data is provided in terms of both volumes (Units) and value (USD Million) for 2016 – 2026. The qualitative data is reinforced by analyzing and providing numerous market dynamics (directly or indirectly affecting the industry) such as growth drivers, restraints, challenges, and opportunities.
We have included various industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the automotive wire market in our study.
Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies adopted by various stakeholders involved in the entire value chain of the automotive wire market. It also encompasses PESTLE analysis and SWOT analysis.
The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the automotive wire market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the automotive wire market.
The research study provides a critical assessment of the automotive wire industry by logically segmenting the market on the basis of type, application, and regions. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026. The regional segmentation of the automotive wire industry includes the holistic bifurcation of all the five major continents including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Automotive wires have used the transmission of electrical signals within various components and systems. They are designed to resist grease, acids, oil, water, fungus, and solvents. In automotive, the wire is generally assembled into harnesses that are used for various automotive applications. They are a package of loose wires assembled together into a single coverage for a more systematized system. These are used for signal transmission and powering up of different electrical and electronic devices. They are also used in electrical circuits and are designed to operate in extreme heating conditions effectively. There are different types of automotive wires which are used for various applications such as GPT or Primary Wire, 1015 Hook-Up or Motor Wire, SXL Wire, Speaker Wire, Battery Cable, Trailer Wire.
The growing consumer preferences for autonomous mobility solutions have increased the complexity in the wiring harness for the automobiles. Additionally, the introduction of electric vehicles has brought rapid changes in the electronics of vehicles which in turn will result in massive changes in automotive cabling. Moreover, increasing demand for advanced driver assistance systems (ADAS) in vehicles and consumer preference for electric mobility is further fueling demand from the industry. Installing connectivity systems for simplified and easy connection of electrical components in cars will further support growth in the industry. However, the design of these wires requires a special set of insulators and conductors with high resistance and durability which is expensive. As a result, the high development cost involved in constructing advanced automotive wires is hindering the growth of the global automotive wire market.
The automotive wire market has been segmented on the basis of type and application and regions. In, the type segment, copper core, and aluminum core types are majorly considered. The application is bifurcated into the body, chassis and safety, engine, HVAC, and sensors. Copper core wire holds the major market share owing to its various advantages such as higher conductivity, ductile, and high tensile strength. The chassis and safety application segment dominates the automotive wire market as there is a rise in the production of passenger cars. It involves complex installations in the instrument panel of passenger cars. This factor drives the demand for chassis harness. Moreover, the government initiatives towards zero-emission vehicles are boosting the demand for electric vehicles and designing these vehicles will create demand for automotive wires. Certain factor indicates that automotive wire market has huge potential to grow over the forecast period.
The automotive wire market is segmented based on type and application. On the basis of type segmentation, the market is classified into copper core and aluminum core amongst others. In terms of application segmentation, the market is bifurcated into the body, chassis and safety, engine, HVAC, and sensors.
Some of the essential players operating in the automotive wire market, but not restricted to include Yazaki Corporation, Sumitomo Electric Industries, Leoni AG, Lear Corporation, Yura Corporation, Furukawa Electric, COFICAB, PKC Group, Fujikura, Coroplast Inc., General Cable, Beijing S.P.L Wire & Cable Co, Ltd, and Kyungshin Corp among others.
The taxonomy of the automotive wire market by its scope and segmentation is as follows:
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