The wiring harnesses and connectors for the electric vehicles market is projected to reach $22.87 billion in terms of revenue by 2031 at a CAGR of 23.4%, reveals the premium market intelligence study by BIS Research.
The automotive industry is experiencing rising adoption of electric vehicles due to changing consumer preferences, rising concerns regarding driver safety, environmental concerns, and acute government regulations and policies.
Over time, the automotive industry is evolving, and technical advancements are being made for electric vehicle accessories such as battery systems, cooling systems, wiring harness systems, and other infrastructure. Wiring harnesses remain to be one of the most crucial components of any vehicle as they comprise one of the heaviest and most expensive parts of the vehicle.
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