High demand in new regions like Asia Pacific remains a major promise for growth as large population, with rising disposable income continues to remain a major growth prospect for players in the global wire harness market.
The growth of low-cost Chinese electric vehicles will also expand the electric vehicle market to new regions of Asia Pacific, wherein rising auto sales, and limited scope of expansion of luxury motors like Tesla remains a challenge to growth for the expansion of the wire harness market.
The higher margins in this arena, thanks to growing demand for e-commerce, and the low-cost of operation for vending machines remains a major promise for growth in the wiring harness market.
Key wiring harness market players are Delphi Technologies (BorgWarner Inc.), Furukawa Electric Co. Ltd., Lear Corporation, Leoni AG, Nexans Autoelectric GmbH, PKC Group Plc (Motherson Sumi Systems Ltd.), Samvardhana Motherson Automotive Systems Group B.V., Sumitomo Electric Industries Ltd., THB Group (AmWINS Group, Inc), YAZAKI Corporation, YURA Corporation, etc. and others.
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