DUBLIN--February 15, 2013: Research and Markets (Research and Markets Global Automotive Connectors ) has announced the addition of the "Global Automotive Connectors Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Automotive Connectors market to reach US$11.80 billion by 2016. One of the key factors contributing to this market growth is the increasing demand for automotive wiring harnesses. The Global Automotive Connectors market has also been witnessing the growing adoption of automotive electronics. However, the increasing low-cost country sourcing could pose a challenge to the growth of this market.
The key vendors dominating this market space are Delphi Automotive PLC, Sumitomo Electric Industries Ltd., TE Connectivity Ltd., and Yazaki Corp.
The other vendors mentioned in the report are Sumitomo Electric Industries Ltd., Molex, and Japan Aviation Electronics Industry Ltd.
Commenting on the report, an analyst from TechNavio's Automotive team said: ''The growing Global Original Equipment Manufacturer (OEM) Automotive Electronics market is one of the trends that is expected to propel the growth of the Global Automotive Connectors market during the forecast period. All the electronic equipment used in automobiles requires connectors to function properly. Thus, the rapid increase in the adoption of and technological developments in automotive electronic equipment is expected to lead to the growth of the Global Automotive Connectors market.''
According to the report, one of the major drivers is the increasing demand for automotive wiring harnesses, which is positively influencing the demand for automotive connectors.
For more information visit Research and Markets Global Automotive Connectors