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This “Global automotive wiring harness market by application (engine, chassis, cab, body and lighting, HVAC, battery, seat, sunroof, door), transmission type (data, electrical), data rate, ICE and electric vehicles , Components, materials, & regions-forecast to 2026” Report has been added to ResearchAndMarkets.com supply.
The global automotive wiring harness market is expected to grow from US$47 billion in 2021 to US$57.4 billion in 2026, with a compound annual growth rate of 4.1% during the forecast period.
Over the years, automobile production has increased significantly. However, in 2020, factors such as COVID-19, regional differences, economic weakness, and lagging vaccination schedules have led to a decline in global automobile production.
However, since the middle of last year, with the recovery of major global industries, global auto production has rebounded strongly, helping to alleviate the impact of the epidemic on the auto industry. It is expected that the increase in vaccine production and vaccination rates will also promote the recovery of the global economy, thereby enabling companies to reopen sooner.
Strict vehicle emission regulations and increasing attention to environmental protection are forcing automobile original equipment manufacturers to look for alternative fuels. Therefore, the use of hybrid vehicles and electric vehicles has increased in recent years. Electric vehicles do not have traditional internal combustion engines and transmission systems. Replacing mechanical systems with electrical and electronic systems increases the wiring harnesses in electric vehicles. The growing demand for pure electric vehicles will increase the high-end electronic products in the car, thereby increasing the wiring harness installation of electric vehicles. Because the electronic characteristics control…
The full story can be found on Benzinga.com
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