The automotive wiring harness market size is projected to reach US$ 76.15 billion by 2031 from US$ 51.98 billion in 2022. The market is expected to register a CAGR of 4.9% in 2023–2031. The Automotive Wiring Harness market is driven by increased automotive sales and production with increasing disposable income of the people. According to the International Organization of Motor Vehicle Manufacturers, automotive sales increased to 92.72 million in 2023 increased by 11.8% compared to 2022. Such growth in automotive sales has created a massive demand for automotive wiring harness products across the globe.
A wiring harness is an electrical wiring system in the vehicle. The major applications of the wiring harness include chassis structure, brakes, and fuel lines. An extensive network of wiring is formed in the car using a wide range of electrical systems. Automotive wiring harness is the electrical distribution system in the vehicle. A wiring harness is a set of terminals, wires, and connectors that run into the entire vehicle. Power and information are transferred with the help of a set of wiring networks.
Automotive wire harnesses are widely used in three-wheelers, utility vehicles, passenger cars, and commercial vehicles. Harnesses are designed according to the electrical and geometrical vehicle requirements that are embedded in the automotive body, automotive internal combustion engine, and chassis of vehicles. Automotive body wiring harnesses are fitted into several components of the vehicles, including dashboards, power windows, door locks, and other interior electrical components. Engine automotive wiring harnesses fitted with lock braking systems, cruise control systems, speed sensors, and fuel injection systems. Chassis wiring comprises the rear, front, and main harnesses.
As automotive sale continues to grow, that drives automotive wiring harness market growth. According to the International Organization of Motor Vehicle Manufacturers, in 2023, passenger car sales increased to 65.27 million units increased by around 12% compared to 2022. Further, commercial vehicle sales increased to 27.45 million units in 2023 increased by 13.3% compared to 2022. Such growth in passenger cars and commercial vehicles across the globe has created massive demand for the automotive wiring harness market growth during the forecast period.
The integration of advanced technologies such as IoT AI by the key players is expected to create ample opportunity for the automotive wiring harness market growth. Several key players in the market are developing advanced solutions to launch the automotive wiring harness by forming partnerships with the technology providers. For instance, in November 2023, Yazaki Corporation partnered with NEC Corporation to manufacture AI-based to automatically develop automotive wiring harnesses. This system combined NEC Corporation’s Digital Robot Planning Solution with its advanced robotic system and simulator for automotive wiring harness assembly at the Yazaki Corporation.
Key segments that contributed to the derivation of the Automotive Wiring Harness Market analysis are type, platform, application, and end-user.
The geographic scope of the automotive wiring harness market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific is expected to dominate the global automotive wiring harness market in 2023. China, Japan, and India are the fastest growing countries in the automotive wiring harness market during the forecast period. This is primarily owing to increased automotive sales and production with growing consumer disposable income of the people in the country. In March 2023, automotive sales and production totalled 2.68 million units increased by 4% from 2.694 million units compared to February month 2023. Such growth in automotive production across China has created massive demand for the automotive wiring harness market growth during the market growth.
The regional trends and factors influencing the Automotive Wiring Harness Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Wiring Harness Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 51.98 Billion |
| Market Size by 2031 | US$ 76.15 Billion |
| Global CAGR (2023 - 2031) | 4.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Wiring Harness Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Wiring Harness Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive wiring harness market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for automotive wiring harness market and strategies:
The “Automotive Wiring Harness Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: