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Automotive Wiring Harness Industry
Albany, NY (PRWEB) December 24, 2014
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ResearchMoz.us has announced the addition of a new research study on the global automotive wiring harness industry, titled “Global and China Automotive Wiring Harness Industry Report, 2014-2015”. The report states that the global and China market of automotive wiring harness is expected to observe sluggish growth in 2015, at an estimated CAGR of nearly 1.3% and attain net worth of nearly US$43.5 billion by the end of 2015.
To Browse a Full Report with TOC: http://www.researchmoz.us/global-and-china-automotive-wiring-harness-industry-report-2014-2015-report.html
The report presents a detailed account of the global market of automotives and the global market and industry of automotive wiring harness, with primary focus on the Chinese segments of these markets and industries. The report also includes detailed financial and strategical overview of 18 major companies operating in the global automotive wiring harness marketplace.
During review period, the report observes that the global and Chinese markets of automotive wiring harness have gone through a dramatic downfall in demands, from a significantly high growth rate only 4 years back to nearing a complete downfall in current times. The report states that the market totaled nearly US$24.3 billion in 2009, and observed a rebound in 2010, owing primarily to high demand from the China’s automotive wiring harness market and skyrocketing prices of copper. In this one-year duration, the market achieved a nearly 27% rise and stood at US$31.9 billion.
The market continued its rise in the year 2011 as well, albeit at a slower pace. Market growth was supported largely by the increasing prices of copper in the commodity market and improved electronization in automobiles. The global and Chinese markets of automotive wiring harness achieved good growth in 2012 owing to modest demands from xEV, North America and Japanese markets. However, the growth was only 10.5% in the entire year.
The year 2013 brought a heavy slump to the wiring harness market wherein factors such as declined automobile sales in Europe, slumping prices of copper in the global commodity market, and the sluggishly moving European economy brought demands significantly down. The market increased at a mere 3.3% CAGR in this year. The year 2014 brought no positive effect to the sluggish European economy and the Chinese automotive market. As a result, the overall automotive wiring harness market was expected to continue its slow growth in 2014 as well. The report states that the continuous decline in copper prices and a weakening Japanese Yen will restrict market growth only to 2.6% in 2014.
It is estimated that copper prices will continue to decline in 2015, Chinese automotive market will continue sluggish growth, European market will continue to face depression, and only American market will present better growth prospects. The market is also expected to be hit by a number of lawsuits against price manipulation practices, forcing the market to lower prices. Thus the overall automotive wiring harness market will continue to move on slow-moving grounds and attain growth at a CAGR of a mere 1.3% and reach US$43.5 billion by the end of 2015.
Strict pricing and regulatory policies have already led leading automotive wiring harness manufacturers and marketers in shifting their bases and reducing investments from the Chinese market to other countries. Three big names in the marketplaces, including Yazaki, SEI, and Furukawa Electric obtained nominal profits from their business bases in Mainland China. Thus, these Japanese companies strengthened their investments in Southeastern and North American automotive wiring harness markets.
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