An automotive wiring harness combines numerous electric wires for a complete electric power supply and signal transmission. It includes connections, terminals, and seals made of thermoset or thermoplastic materials to shield the wires and cables from the abrasive outside environment.
The market worth of automotive wiring harness in 2021 was USD 49.04 billion, and it will be worth USD 74.46 billion, growing at a 4.75% CAGR during the forecast period.
Some key factors propelling the growth of the automotive wiring harness market include increasing consumer demand, the manufacturing sector’s rapid expansion, the presence and development activities of vehicle OEMs, and increased adoption of advanced vehicle technologies due to an increase in per capita income. Furthermore, the importance of wire harness is increasing across the automotive industry due to the electrification of vehicles and the preference for minimal human effort. The increasing integration of technological devices has significantly impacted the market’s growth within automobiles to provide greater safety features.
The need for the automotive wire harness will be driven by the desire for improved safety features, including autonomous, emergency braking, blind-spot detection, lane departure warning system, and forward-collision warning system to prevent accidents and loss of life. Along with safety, the market will expand due to consumer desire for infotainment & telematics technologies that make it easier to use items like head-up displays, cameras, GPS, and other devices.
The car has a number of electrical issues, including battery problems, light problems, alternator problems, front and rear light malfunctions, and ignition problems, which are occasionally caused by wiring harness problems. The wiring harness can occasionally flex due to quickly varying surroundings, such as sudden swings from extremely cold to extremely hot temperatures. These issues can significantly reduce the lifespan of the wiring harness and cause it to deteriorate.
The overall number of automobile wire harnesses is growing every day due to the sophisticated technologies’ continued expansion of vehicle features. The industry predicts that the increase in tax benefits and incentives offered by governments worldwide is also boosting the total demand for electric vehicles, which will present the market with plenty of prospects in the future.
By material, the market is segmented into copper, aluminum, and others. In 2021, the copper segment ruled the market with the largest revenue share of 55%. The best thermal and electrical conductivity is found in copper. Cu wires are used extensively for wire harnessing in high conductivity applications in automobiles worldwide because they have the lowest resistance to electrical and thermal conduction when compared to aluminum.
By Component, the market is segmented into wires, terminals, connectors, and others. The terminal segment will grow at a rapid rate with the fastest 5.6% CAGR. The rise in the use of cutting-edge automotive technology will drive the demand for this market segment.
By Application, the automotive wiring harness market is segmented into the chassis wiring harness, engine harness, body & lighting harness, dashboard & cabin harness, HVAC harness, and others. With the largest revenue share of 24%, the chassis wiring harness segment ruled the market in 2021. Worldwide demand for automotive wire harnesses for chassis components, including air brake pumps, frames, suspension systems, etc., has grown unexpectedly, boosting the market growth.
On the basis of Vehicle type, the automotive wiring harness market is segmented into commercial vehicles and passenger vehicles. In 2021, the passenger vehicle segment led the market with a maximum revenue share of 61%. The domination of this market sector has been attributed to the rising demand for passenger cars, which has also seen a corresponding growth in the desire for cars with cutting-edge features.
North America, South America, Europe, Asia Pacific, the Middle East, and Africa are among the geographical areas evaluated for the market. With a 35.2% revenue share in 2021, the Asia Pacific area took the lead as the world’s largest market for automobile wiring harnesses.
Due to rising consumer disposable income and consequently rising demand for automobiles, the Asia Pacific region has a dominant position in the global market for automotive wire harnesses. Due to the government’s new regulations supporting the manufacturing and market demand for electric vehicles, Asia-Pacific will grow throughout the projection period.
- Yazaki Corporation
- Aptiv PLC
- Furukawa Electric Co., Ltd
- Lear Corporation
- Leoni AG
- Sumitomo Electric Industries, Ltd
- Fujikura Ltd.
- SamvardhanaMotherson Group
- Yura Corporation
The market worth of automotive wiring harness in 2021 was USD 49.04 billion, and it will be worth USD 74.46 billion, growing at a 4.75% CAGR during the forecast period. The major element driving the market’s growth is the rising demand for automotive wiring harnesses for enhancing power delivery and safety systems.