Global Automotive Wiring Harness Market

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

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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 automotive wiring harness market is highly competitive and fragmented due to the presence of several key players in the market. The 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. 'Sumitomo Electric Industries, Ltd. (Japan)', 'Lear Corporation (US)', 'Yazaki Corporation (Japan)', '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)'

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 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.

In 2022, the Asia Pacific region dominated the 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.

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Global Automotive Wiring Harness Market

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