USD 48614 Million
Automotive Wiring Harness Market Size, Share, Growth Analysis, By Vehicle Type(Light Vehicles, and Heavy Vehicles), By Application(Body, Chassis) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2164 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
75
Automotive Wiring Harness Market Insights
Automotive Wiring Harness Market size was valued at USD 48614 Million in 2021 and is poised to grow from USD 50266.88 Million in 2022 to USD 65681.98 Million by 2030, at a CAGR of 3.4% during the forecast period (2023-2030).
The global automotive wiring harness market is propelled by the increasing demand for advanced electrical and electronic systems in modern vehicles. The market aims to provide innovative and efficient wiring harness solutions to automotive manufacturers to ensure smooth and safe operations of various automotive systems. The primary driving factors for the automotive wiring harness market are the increasing demand for advanced safety and comfort features in vehicles, the growing trend of electric and hybrid vehicles, and the rising demand for fuel-efficient vehicles. The increasing adoption of advanced driver-assistance systems (ADAS), infotainment systems, and other electronic systems in modern vehicles is also contributing to the growth of the market. The automotive wiring harness market faces several challenges such as the increasing complexity of automotive wiring systems, the risk of fire hazards due to faulty wiring, and the lack of standardization in the industry. The high cost of developing and testing wiring harnesses can also be a significant challenge for small and medium-sized market players. The automotive wiring harness market presents several growth opportunities, such as the increasing adoption of electric and hybrid vehicles, the growing demand for advanced safety and comfort features in vehicles, and the increasing trend of connected vehicles.
US Automotive Wiring Harness Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Light Vehicles
Fastest Growth
Light Vehicles
Growth Rate
3.4% CAGR
Global Automotive Wiring Harness Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Automotive Wiring Harness Market Size By Vehicle 2022-2030 ($ Bn)
Global Automotive Wiring Harness Market Size By Vehicle 2022-2030 (%)
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Automotive Wiring Harness Market Segmental Analysis
The global automotive wiring harness market is segmented on the vehicle, application, and region. Based on vehicle, the market is segmented into Light vehicles, and heavy vehicles. In terms of application, the market is segmented into body, chassis, engine, HVAC, and sensors. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Automotive Wiring Harness Market Analysis by Vehicle
In 2022, light vehicles held the largest share in the automotive wiring harness market, accounting for over 90% of the total revenue. With the integration of advanced technologies and features in light vehicles such as GPS, infotainment systems, temperature control sensors, and tire pressure sensors, the demand for wiring harnesses in these vehicles is expected to increase while maintaining the optimum weight of the vehicle. Consumers now consider advanced functions and driving experience while purchasing a vehicle, which is redefining comfort and functionality while traveling. As a result, the demand for wiring harnesses in light vehicles is expected to grow at a CAGR of 3.4% from 2023 to 2030.
The heavy vehicle segment is also expected to contribute to the growth of the market due to the increasing adoption of heavy-duty electric vehicles and the integration of telematics, GPS, and ADAS sensors and radar by truck and bus fleet managers. This is expected to augment the growth of the automotive wiring harness market in the heavy vehicle segment.
Automotive Wiring Harness Market Analysis by Application
In 2022, the chassis segment held the largest revenue share of over 34% in the automotive wiring harness market. The chassis harness system comprises the main, rear, and front harnesses, which contain wired connections to various multimedia systems, such as GPS, DVD, radio, engine, AC, and other sensors for temperature control and ADAS. The chassis harness system is responsible for providing wiring and connections to all the essential components that enable the vehicles to perform their primary functions. Moreover, the chassis harness system has the advantage of minimal risk of shorting, can withstand high temperatures, and improve fuel efficiency and vehicle performance.
Within the forecast period, the sensors sub-segment is expected to exhibit the highest growth rate of 6.0%. It includes various sensors for systems such as illumination, battery system, speed systems, infotainment systems, and ADAS. The wiring harness is equipped with sensors required to maintain and enable an analysis of relevant data. With the increasing use of sensors based on the level of autonomous driving technology in vehicles, the sensors sub-segment is expected to drive the growth of the market.
Global Automotive Wiring Harness Market Size By Vehicle, 2022 (%), 2023 (%)
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Automotive Wiring Harness Market Regional Insights
In 2022, the Asia Pacific region dominated the global automotive wiring harness market, accounting for the largest revenue share of 48.6%. This can be attributed to the presence of major automobile markets such as China and India, which are among the top 5 car-producing countries in the world. The high application of automotive wiring harnesses in the region is expected to further boost the market. Additionally, the region has a high population density and disposable income, and many manufacturers have a strong presence in the Asian market, launching advanced technological vehicles in the region.
Europe is expected to witness a healthy growth rate over the forecast period. The region is expected to experience a rise in the demand for high-voltage harness wires due to the consistent rise in sales of electric vehicles. The sales of EVs are further propelled by the subsidies provided by the EU and respective governments of European countries. This rise in EV sales is anticipated to positively impact the sales of wiring harnesses.
Global Automotive Wiring Harness Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Automotive Wiring Harness Market Dynamics
Automotive Wiring Harness Market Drivers
Rising Automobile Production to Propel Market Growth
- Increasing automotive production globally due to improving economies, increasing purchasing power, and improving lifestyles drive the overall demand for automobiles production. Presently, the Asia Pacific region accounts for the highest volume of automotive output due to the greater need for automobiles, especially in China and India. In addition, increasing financial and regulatory initiatives by governments boost the prospects in this market.
Increasing Trend of Integrated Advanced Features in Vehicles that Propels Market Growth
- Today’s cars are advanced with a large number of electronic integrations. By 2022, about 125 million vehicles are expected to be equipped with 5G connections that will hit the roads. The head-up-display units, infotainment systems, and dashboards in vehicles require many electronic and electric components. As this electronic equipment is becoming a standard accessory, car manufacturers and consumers have pushed the electronic component suppliers for more integrations and innovations. Today’s consumers demand more intuitive technology, and they want an in-vehicle experience that allows them to stay connected, entertained, and comfortable.
Automotive Wiring Harness Market Restraints
Continuous Growing Risk of Wiring Harness Failures
- The vehicle has various electrical failures, such as battery, lights, alternator, non-functional front & rear lights, and ignition failure, which can sometimes occur due to wiring harness failures. Sometimes, the wiring harness bends due to the rapidly changing environments like extreme cold to severely hot temperatures, as well as rapid shifts from one temperature level to another. These problems can corrode the overall wiring harness & largely decrease the rate of its overall lifespan.
Corrosive Nature of Wiring Harness Hurdle to Hinder Growth
- The issues of reliability and durability associated with the incorporation of wiring harnesses in EVs are projected to hinder the market growth. Further, the corrosive nature of the automotive wiring harness makes it challenging to incorporate into EVs. These factors, in turn, are estimated to restrain in the coming years. Additionally, the manufacturers must invest comprehensively in the research and development of advanced wiring harnesses, which may likely limit the market growth over the forecast period.
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Automotive Wiring Harness Market Competitive Landscape
The global automotive wiring harness market is highly competitive and fragmented due to the presence of several key players in the market. The global automotive wiring harness market is highly competitive and is characterized by the presence of several key players in the market. These companies are focusing on innovation, product quality, and cost to gain a competitive advantage in the market.
Automotive Wiring Harness Market Top Player’s Company Profiles
- Aptiv PLC (Ireland)
- THB Group (China)
- Leoni AG (Germany)
- Furukawa Electric Co., Ltd. (Japan)
- PKC Group (Finland)
- Spark Minda (India)
- Nexans Autoelectric (Germany)
- Kromberg & Schubert (Germany)
- Kyungshin Co., Ltd. (South Korea)
- Delphi Technologies (UK)
- Fujikura Ltd. (Japan)
- Motherson Sumi Systems Limited (India)
- Draexlmaier Group (Germany)
- Samvardhana Motherson Group (India)
- NXP Semiconductors N.V. (Netherlands)
- Rosenberger Hochfrequenztechnik GmbH & Co. KG (Germany)
- Yura Corporation (South Korea)
Automotive Wiring Harness Market Recent Developments
- In September 2022, Yazaki Corporation opened its fourth manufacturing facility in Morocco at Kenitra near Rabat with an investment of USD 30 million.
- In February 2022, Aptiv announced the launch of its next-generation smart vehicle architecture, which includes a new wiring harness design that significantly reduces the number of wires in a vehicle.
- In September 2021, Yazaki Corporation announced the establishment of a new automotive wiring harness manufacturing plant in Serbia, aimed at strengthening the company's production capacity in Europe.
- In August 2021, Sumitomo Electric Industries Ltd. announced the development of a new wiring harness system that uses high-precision molding technology to reduce the weight and size of wiring harnesses.
Automotive Wiring Harness Key Market Trends
- Increasing use of advanced driver assistance systems (ADAS): the automotive wiring harness market is the increasing use of advanced driver assistance systems (ADAS) in vehicles. ADAS includes features such as lane departure warning, automatic emergency braking, and adaptive cruise control, which require a complex network of sensors and wiring to function properly. The demand for ADAS is expected to rise due to the increasing focus on vehicle safety and the growing number of regulations mandating the installation of safety features in vehicles.
- Growing demand for electric vehicles: The rising trend of electric vehicles (EVs) is impacting the automotive wiring harness market. As electric vehicles have a different powertrain than traditional vehicles, their wiring harnesses require different specifications, materials, and designs to handle the high voltage and power. The demand for EV wiring harnesses is expected to rise due to the increasing number of EV models being launched in the market. The increasing government initiatives to reduce carbon emissions and promote electric vehicle adoption are expected to boost the demand for automotive wiring harnesses in the EV market.
Automotive Wiring Harness Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global automotive wiring harness market, the increasing demand for advanced features in vehicles such as ADAS, infotainment systems, and telematics are the key growth drivers. These features require complex wiring and electrical connections, thereby increasing the demand for wiring harnesses. In addition, the rising demand for electric vehicles and the integration of advanced technologies such as electric power steering and start-stop systems are expected to further drive the market growth. The market is also experiencing certain restraints such as the high cost of advanced wiring harnesses, which may limit the adoption of these technologies in budget vehicles. The global automotive wiring harness market is expected to witness significant growth owing to the increasing demand for advanced features in vehicles and the rising demand for electric vehicles. The high cost of advanced wiring harnesses and the emergence of new wireless technologies may pose a threat to the growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 48614 Million |
| Market size value in 2031 | USD 65681.98 Million |
| Growth Rate | 3.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Wiring Harness Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Wiring Harness Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Wiring Harness Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Wiring Harness Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Wiring Harness Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Wiring Harness Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Automotive Wiring Harness Market Report Snapshots
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