Report : Middle East & Africa Wire Harness Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Product Type (Wire Harness Connector, Wire Harness Terminal, and Others), Material (PVC, Vinyl, Thermoplastic Elastomer, Polyurethane, and Polyethylene), and End User (Automotive, Marine, Aerospace and Defense, Consumer Durables, Medical, Agriculture, Industrial, and Others)
At 4.1% CAGR, the Middle East & Africa Wire Harness Market is speculated to be worth US$ 7,399.40 million by 2030, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa wire harness market was valued at US$ 5,569.08 million in 2023 and is expected to reach US$ 7,399.40 million by 2030, registering a CAGR of 4.1% from 2023 to 2030. Increasing wire and cable consumption and technological advancements in food & beverages and agriculture are the critical factors attributed to the Middle East & Africa wire harness market expansion.
The growth in manufacturing and infrastructure in telecommunication, power, residential, and other sectors has resulted in the high consumption of wires and cables. The consumption is further driven by renewable energy development and government initiatives. For instance, the Government of India has been launching several initiatives (such as “Power for All”) and providing the necessary infrastructure to ensure uninterrupted electricity supply across the country. These government-promoted initiatives have exponentially increased the consumption of wire and cables in the power industry in India over the last five years. Wire harnesses help secure many masses of wires that could stretch for several kilometers and significantly overcome the shortcomings. Therefore, the demand for wire harnesses is directly proportional to the growing consumption of wires and cables.
On the contrary, rising counterfeit products that can cause catastrophe hurdles the growth of Middle East & Africa wire harness market.
Based on product type, the Middle East & Africa wire harness market is segmented into wire harness connector, wire harness terminal, and others. The others segment held 53.4% share of Middle East & Africa wire harness market in 2023, amassing US$ 2,971.45 million. It is projected to garner US$ 4,134.41 million by 2030 to expand at 4.8% CAGR during 2023–2030.
Based on material, the Middle East & Africa wire harness market is segmented into PVC, vinyl, thermoplastic elastomer, polyurethane, and polyethylene. The PVC segment held 53.6% share of Middle East & Africa wire harness market in 2023, amassing US$ 2,983.30 million. It is projected to garner US$ 3,826.48 million by 2030 to expand at 3.6% CAGR during 2023–2030.
Based on end-use, the Middle East & Africa wire harness market is segmented into automotive, marine, aerospace and defense, consumer durables, medical, agriculture, industrial, and others. The automotive segment held 46.9% share of Middle East & Africa wire harness market in 2023, amassing US$ 2,610.72 million. It is projected to garner US$ 3,780.25 million by 2030 to expand at 5.4% CAGR during 2023–2030.The automotive segment is further segmented into two wheeler, construction vehicles, passenger cars, and commercial vehicles.
Based on country, the Middle East & Africa wire harness market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that t the UAE captured 33.6% share of Middle East & Africa wire harness market in 2023. It was assessed at US$ 1,868.43 million in 2023 and is likely to hit US$ 2,457.34 million by 2030, exhibiting a CAGR of 4.0% during the forecast period.
Key players profiles in the Middle East & Africa wire harness market report DRÄXLMAIER Group; Fujikura Ltd.; FURUKAWA ELECTRIC CO., LTD.; Lear Corporation; LEONI AG; Motherson Sumi Systems Ltd.; Sumitomo Electric Industries, Ltd.; Yazaki Corporation; and YURA Corporation , among others.
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