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Wiring Harnesses and Connectors for Electric Vehicles Market - A Global and Regional Market Analysis

Focus on Vehicle Type, Propulsion Type, Application Type, Product Type, Material Type, Component Type, and Regional Analysis - Analysis and Forecast, 2020-2031

 
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The global wiring harnesses and connectors for electric vehicle market is expected to reach $22.87 billion by 2031, with a CAGR of 23.37% during the forecast period 2021-2031.

The top market players are Sumitomo Electric Industries, Ltd., Leoni AG, Aptiv PLC, Fujikura Ltd., Kromberg & Schubert GmbH, Coroplast Group, SINBON Electronics Co., Ltd., Korea Electric Terminal Co., Ltd., EG Electronics, LS Cable & System Ltd., TE Connectivity, ACOME, Gebauer & Griller, Continental AG, Lear Corporation.

Factors driving the growth of the global wiring harnesses and connectors for electric vehicle market are growing adoption of electric vehicles, deployment of wide scale charging infrastructure for electric vehicles, need for high voltage wiring harnesses for electric vehicle applications, and growing need for automotive safety systems.

Some of the main challenges restricting the growth of the global wiring harnesses and connectors for electric vehicle market are corrosion susceptibility of wiring harnesses and connectors and increase in copper prices.

The potential opportunities that are likely to boost the growth of the global wiring harnesses and connectors for electric vehicle market are introduction of autonomy levels in electric vehicles and weight reduction of wiring harnesses and connectors.

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