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Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global automotive engine wiring harness market is likely to grow by $112.
18 million, with a compound annual growth rate of 1%
during the period.
The growing demand for electric vehicles is driving the growth of
the global automotive engine wiring harness market.
The demand for electric vehicles is growing rapidly due to government subsidies or other incentives to car owners, which will help reduce greenhouse gas emissions and reduce the average carbon dioxide emissions
in the environment.
The growth in demand for electric vehicles will increase the demand
for automotive engine wiring harnesses.
Similarly, the increasing introduction of heat-resistant and innovative materials for automotive engine wiring harnesses is also positively
impacting the market growth.
Heat-resistant innovations for automotive engine wiring harnesses are stronger, lighter, compatible with modern vehicles, and require fewer replacements, thus encouraging adoption by some end-users
.
The growing demand for electric vehicles, coupled with the increasing introduction of heat resistance and innovative materials for automotive engine wiring harnesses, is driving the market growth
at a CAGR of around 1% during the forecast period.
In 2019, Asia Pacific was the world's largest regional market
for automotive engine wiring harnesses.
The region will provide some growth opportunities
for vendors in the market during the forecast period.
Over the past two years, the region's economy has grown rapidly, i.
e.
per capita income has increased
significantly.
This also increases the purchasing power of consumers, leading to an increase in vehicle sales, which will significantly drive the growth of
the automotive engine wiring harness market in the region during the forecast period.
Asia-Pacific
is expected to account for 54% of the market growth during the forecast period.
China, Japan, and India are the major markets
for automotive engine wiring harnesses in the Asia-Pacific region.
The market growth in this region will be faster than that in other regions
.
From the perspective of manufacturers, Furukawa Electric, Fujikura Cable, LEONI Cable, Neckers, Sumitomo Electric, Lear, Aptiv, and Motherson Sumi Systems will become the world's leading manufacturers of automotive engine wiring harnesses during the forecast period
.
Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global automotive engine wiring harness market is likely to grow by $112.
18 million, with a compound annual growth rate of 1%
during the period.
The growing demand for electric vehicles is driving the growth of
the global automotive engine wiring harness market.
The demand for electric vehicles is growing rapidly due to government subsidies or other incentives to car owners, which will help reduce greenhouse gas emissions and reduce the average carbon dioxide emissions
in the environment.
The growth in demand for electric vehicles will increase the demand
for automotive engine wiring harnesses.
Similarly, the increasing introduction of heat-resistant and innovative materials for automotive engine wiring harnesses is also positively
impacting the market growth.
Heat-resistant innovations for automotive engine wiring harnesses are stronger, lighter, compatible with modern vehicles, and require fewer replacements, thus encouraging adoption by some end-users
.
The growing demand for electric vehicles, coupled with the increasing introduction of heat resistance and innovative materials for automotive engine wiring harnesses, is driving the market growth
at a CAGR of around 1% during the forecast period.
In 2019, Asia Pacific was the world's largest regional market
for automotive engine wiring harnesses.
The region will provide some growth opportunities
for vendors in the market during the forecast period.
Over the past two years, the region's economy has grown rapidly, i.
e.
per capita income has increased
significantly.
This also increases the purchasing power of consumers, leading to an increase in vehicle sales, which will significantly drive the growth of
the automotive engine wiring harness market in the region during the forecast period.
Asia-Pacific
is expected to account for 54% of the market growth during the forecast period.
China, Japan, and India are the major markets
for automotive engine wiring harnesses in the Asia-Pacific region.
The market growth in this region will be faster than that in other regions
.
From the perspective of manufacturers, Furukawa Electric, Fujikura Cable, LEONI Cable, Neckers, Sumitomo Electric, Lear, Aptiv, and Motherson Sumi Systems will become the world's leading manufacturers of automotive engine wiring harnesses during the forecast period
.
