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%.
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.
Depending on application, the India commercial vehicle wiring harness market is fragmented into body and lighting, engine, HVAC, chassis, dashboard and cabin, and others. The chassis segment was the highest revenue contributor in 2021, owing to a majority of the wiring harness being used for chassis part.
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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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