Global Automotive Secondary Wiring Harness Market to Reach $69.5 Billion by 2030
The global market for Automotive Secondary Wiring Harness estimated at US$32.4 Billion in the year 2023, is expected to reach US$69.5 Billion by 2030, growing at a CAGR of 11.5% over the analysis period 2023-2030. Secondary Wiring Harness for HEV, one of the segments analyzed in the report, is expected to record a 11.2% CAGR and reach US$36.6 Billion by the end of the analysis period. Growth in the Secondary Wiring Harness for BEV segment is estimated at 11.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.4 Billion, While China is Forecast to Grow at 15% CAGR
The Automotive Secondary Wiring Harness market in the U.S. is estimated at US$8.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.2 Billion by the year 2030 trailing a CAGR of 15% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 9.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.8 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook