LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global automotive wiring harness market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global automotive wiring harness market will grow at a CAGR of over 4% during the forecast period. Adopting automation to lower manufacturing cost of automotive wiring harness is a major factor driving the market’s growth.
Automating systems in manufacturing facilities focus on improving the quality and standardizing the products. They help reduce the cost of manufacturing as the labor cost and wastage reduces. Increase in the demand for miniaturized wiring harness further drives the need for automation as manual manufacturing techniques do not produce the desirable product quality. Moreover, human errors can lead to inaccurate results. Skilled labor is required to ensure quality required for the miniaturized wiring harness, which further increases costs.
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In this report, Technavio highlights the use of smart materials in automotive wiring harness as one of the key emerging trends driving the global automotive wiring harness market:
Use of smart materials in automotive wiring harness
The demand for the development of durable and lightweight materials have increased as modern vehicles require high-speed data transfer rates. In 2013, the University of Southampton, UK, implemented a project that can achieve data transmission at a speed that is 99.7% of the speed of light, allowing a data transfer rate of 73.7 terabits per second. It implements a photonic-bandgap rim in which the fibers are hollow but can bend light by total internal reflection. As a result, the total loss will be limited to 3.5 dB per 1,000m.
Along with optical fibers, the future of wiring harness will include the growth of durable and lightweight materials such as carbon nanotubes (CNTs). These tubes are 100 times stronger and one-sixth the weight of steel and possess excellent conductivity. Scientists have developed a CNT fiber that can conduct electricity like metal and has the strength comparable to that of carbon fibers and flexibility of textile fibers. When compared to metals such as copper, aluminum, and gold, these fibers have the same heat and electrical conductivity, but their strength is much higher than metals. As a result, they can substitute metals in many aerospace, automotive, and medical applications.
“In 2013, inventors have already filed a patent for manufacturing graphene electrical wires. Graphene is a carbon fiber that is made of interlinked graphite layers. It has high heat conductivity and chemical resistance, which is 100 times as dense as copper. Thus, carbon fibers and CNT are considered to be the future of wiring harness and connectors due to their high tensile strength and conductivity,” says a senior analyst at Technavio for research on automotive components.
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Global automotive wiring harness market segmentation
This market research report segments the global automotive wiring harness market into the following applications (chassis, HVAC, and sensors) and key regions (the Americas, APAC, and EMEA).
The chassis segment held the largest market share in 2017, accounting for nearly 73% of the market. The market share for this application is expected to decrease nearly 3% by 2022. The fastest growing application is sensors, which will account for nearly 17% of the total market share by 2022.
APAC was the leading region for the global automotive wiring harness market in 2017, accounting for a market share of nearly 53%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.
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