Sumitomo Electric Industries, Coroplast Fritz Müller GmbH & Co. KG; Cypress Industries; Fujikura Ltd.; Furukawa Electric Co., Ltd., are some of the key market players operating in the global electric vehicle wiring harness market. The listing of key players is derived by considering multiple factors such as overall revenue, current automotive portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, several other important players are operating in the electric vehicle wiring harness market, which were analyzed during the course of this market research study, such as, Motherson, Nexans Auto electric Gmbh, Sinbon Electronics Co., Ltd., THB Group, and Yazaki Corporation among others.
Sumitomo Electric Industries, Coroplast Fritz Müller GmbH & Co. KG; Cypress Industries; Fujikura Ltd.; Furukawa Electric Co., Ltd.; – PROMINENT MARKET PARTICIPANTS IN ELECTRIC VEHICLE WIRING HARNESS MARKET
The electric vehicle wiring harness market is segmented based on vehicle type, product type, and material type. Based on vehicle type, the global electric vehicle wiring harness market is segmented into Plug-in Hybrid Electric Vehicles (PHEV), Battery Electric Vehicle (BEV), Hybrid Electric Vehicles (HEV), and Fuel Cell Electric Vehicles (FCEV). Based on product type, the global electric vehicle wiring harness market is segmented into High Voltage Wiring Harness, and Medium Low Voltage Wiring Harness. Based on material type, the global electric vehicle wiring harness market is segmented into Copper-Clad Wire, Aluminum Alloy Wire, Glass Optical fiber, Plastic Optical fiber, and others. Based on geography, the global electric vehicle wiring harness market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
The COVID-19 pandemic severely disrupted the auto industry worldwide. The economic slowdown caused a rapid decline in passenger vehicle sales. According to industry experts, the EV market is much more likely to see a quick recovery in China and Europe. The market share of EVs in these regions is expected to increase over the long term. Economic growth and improvements in production and manufacturing infrastructures will encourage the global electric vehicle wiring harness market. In 2019, electric cars accounted for a record 2.5% of the worldwide light-vehicle (LV) market, with more than two million EVs sold globally. Then the COVID-19 pandemic hit, shaking up supply chains and shutting down factories. However, emerging developments are anticipated to shape the market over the coming years. After witnessing a significant drop in 2020, the automotive market has begun seeing a gradual recovery in consumer demand since the last quarter of 2020.
Most of the market initiatives were observed in North America, Europe & Asia-Pacific region, which has a high potential for electric vehicle wiring harness providers. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2021 | SINBON Electronics Co., Ltd. was named one of the top ten high-tech electric vehicle (EV) solution firms in Asia-Pacific by the automotive journal “Autotech Outlook” for two consecutive years. Since 2012, the company has been committed to expanding the EV sector and has already established itself as a significant provider of wiring harnesses for charging systems for electric vehicles. | APAC |
| 2018 | Motherson Sumi Systems Ltd entered into an agreement to acquire Stoneridge Inc’s wiring harness business for $65.7 million. The agreement would involve six manufacturing plants in Portland, Indiana, the United States, Chihuahua, Saltillo, and Monclova, Mexico, and an engineering and administrative centre in Warren, Ohio, the United States. | North America |
