India Commercial Vehicle Wiring Harness Market Expected to Reach $1,477.8 Million by 2031

According to a recent report published by Allied Market Research, titled, “Commercial Vehicle Wiring Harness Market by Material, Propulsion, Vehicle Type, Voltage, and Application: India Opportunity Analysis and Industry Forecast, 2022–2031,” the India commercial vehicle wiring harness market was valued at $774.4 million in 2021, and is projected to reach $1,477.8 million in 2031, registering a CAGR of 6.8%.

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Greater adoption of the internet of things to stay connected is further expected to offer growth opportunities during the forecast period. For instance, in July 2021, Furukawa Electric developed a 6,912-fiber ultra-thin fiber optic cable, using 16-strand rollable thin ribbons and the S12M16 ribbon welder and related tools. Moreover, rise in infrastructural developments in the country is expected to bolster the growth of the market during the forecast period. For instance, in December 2021, the Ministry of Road Transport and Highways of India (MoRTH) announced an investment worth $92.4 billion for infrastructure projects to be spent over the next 2-3 years.

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India commercial vehicle wiring harness market is expected to witness a significant growth during the forecast period, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, and efficient commercial vehicle wiring harness solutions. India commercial vehicle wiring harness market is expected to grow at a significant rate during the forecast period, owing to rise in demand for feature-packed vehicles in India.

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The key players profiled in this India Commercial Vehicle Wiring Harness market report include Aptiv PLC, Cypress Industries, Dhoot Transmission Pvt. Ltd., Fujikura Ltd., Furukawa Electric Co. Ltd., Lear Corporation, Robert Bosch GmbH, Samvardhana Motherson Group, Spark Minda, and Yazaki Corporation.

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Key Findings Of The Study

  • By material, the aluminium segment is expected to register a significant growth during the forecast period.
  • On the basis of propulsion, the electric vehicles segment is anticipated to exhibit significant growth in future.
  • On the basis of vehicle type, the construction equipment segment is anticipated to exhibit significant growth in future.
  • According to voltage, the high voltage segment is projected to lead the India Commercial Vehicle Wiring Harness market.
  • By application, the dashboard and cabin segment is projected to lead the India Commercial Vehicle Wiring Harness market

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