BIS Research study highlights the wiring harnesses and connectors for electric vehicles market to reach $22.87 billion by 2031
The wiring harnesses and connectors for the electric vehicles market is projected to reach $22.87 billion in terms of revenue by 2031 at a CAGR of 23.4%, reveals the premium market intelligence study by BIS Research.
The automotive industry is experiencing rising adoption of electric vehicles due to changing consumer preferences, rising concerns regarding driver safety, environmental concerns, and acute government regulations and policies.
Over time, the automotive industry is evolving, and technical advancements are being made for electric vehicle accessories such as battery systems, cooling systems, wiring harness systems, and other infrastructure. Wiring harnesses remain to be one of the most crucial components of any vehicle as they comprise one of the heaviest and most expensive parts of the vehicle.
The detailed study is a compilation of 249 Market Data Tables and 52 Figures spread through 265 Pages and in-depth TOC on “Wiring Harnesses and Connectors for Electric Vehicles Market – Analysis & Forecast, 2020-2031“
USP of the Report
- A dedicated section focusing on the current and futuristic trends adopted by the key players operating in the wiring harnesses and connectors for electric vehicles market.
- Extensive competitive benchmarking of top 15 players offering a holistic view of the wiring harnesses and connectors for electric vehicles market landscape.
- Qualitative and quantitative analysis of wiring harnesses and connectors for electric vehicles market at the region and country-level and granularity by application and product segments.
Analyst’s Take on the Market:
According to Dhrubajyoti Narayan, Lead Analyst, BIS Research, “The regional production of electric vehicles is a detrimental factor in the wiring harnesses and connectors for electric vehicles market. With the increasing popularity of alternate energy vehicles, the market for high voltage wiring harnesses is also witnessing a boom. Thicker and fuller wires are used in electric vehicles when compared to ICE vehicles, which increases the weight and reduces the range of the car, for which light-weight materials such as aluminum are being used.”
Key Companies Operating in the Market and Competition Landscape
Sumitomo Electric Industries, Ltd., Leoni AG, Aptiv PLC, Fujikura Ltd., Kromberg & Schubert GmbH, Coroplast Group, SINBON Electronics Co., Ltd., Korea Electric Terminal Co., Ltd., EG Electronics, LS Cable & System Ltd., TE Connectivity, ACOME, Gebauer & Griller, Continental AG, and Lear Corporation are the key companies operating in the market.
The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details of companies such as their product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the wiring harnesses and connectors for electric vehicles market.
Who Should Buy this Report?
- Electric vehicle OEMs
- Tier1 and Tier2 component manufacturers
- Wiring harnesses and connectors manufacturers
Key Questions Answered in the Report:
- For a new company looking to enter the wiring harnesses and connectors for the EVs market, which areas could it focus upon to stay ahead of the competition?
- How do the existing market players function to improve their market positioning?
- Which are the promising companies that have obtained financial support to develop their products and markets?
- How do the supply chain function in the global wiring harnesses and connectors for the electric vehicles market?
- Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2019-2021?
- Which product segment is expected to witness the maximum demand growth in the global wiring harnesses and connectors for the electric vehicles market during 2021-2031?
- Which are the players that are catering to the demand for different wiring harnesses and connectors?
- How should the strategies adopted by market players vary for different product segments based on the size of companies involved in each segment?
- What are the key offerings of the prominent companies in the market for wiring harnesses and connectors for electric vehicles?
- What are the demand patterns of wiring harnesses and connectors across the application areas in different regions and countries during the period 2021-2031?