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.
Automotive Wiring Harness Market Analysis
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 Wiring Harness Market Overview
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.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Automotive Wiring Harness Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Automotive Wiring Harness Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Automotive Wiring Harness Market Drivers and Opportunities
Increased Automotive Sales and Production Drives Market Growth
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.
Rising sales of connected cars and Increased Adoption of Advanced Technologies Manufacturing Wiring Harnesses drive significant Opportunities for Market Growth.
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.
Automotive Wiring Harness Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive Wiring Harness Market analysis are type, platform, application, and end-user.
- Based on type, the market is divided into Auxiliaries, HVAC wiring harnesses, Cockpit, ICE Harness, E-Motor Harness, and Others. Mong these, cockpit harness has the largest share in 2023. This is primarily owing to increased demand for digital accessories by consumers in their passenger cars.
- Based on vehicle type, the market is passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. Among these, light commercial vehicles have the largest share in 2023. This is owing to increased sales of commercial vehicles across the globe.
Automotive Wiring Harness Market Share Analysis by Geography
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.
Automotive Wiring Harness Market Regional Insights
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.
- Get the Regional Specific Data for Automotive Wiring Harness Market
Automotive Wiring Harness Market Report Scope
| 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 |
Automotive Wiring Harness Market Players Density: Understanding Its Impact on Business Dynamics
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:
- Yazaki Corporation
- Sumitomo Electric Industries
- Aptiv PLC
- Furukawa Electric
- Leoni AG
- Lear Corporation, Coroplast Fritz Müller GmbH & Co.
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Automotive Wiring Harness Market top key players overview
Automotive Wiring Harness Market News and Recent Developments
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:
- On November 2023 September 2022, Aptiv Plc acquired Intercable Automotive Solutions from Intercable Srl for USS 600.95 million. Aptiv Plc owned 85% of the stake in Intercable Automotive Solutions after this acquisition. The acquisition helped Aptiv Plc to obtain a leading position in the automotive wiring harness segments. (Source: Flyability, Press Release/Company Website/Newsletter)
- September 2022: Motherson Sumi Ltd. began manufacturing automotive wiring harness products in Serbia at the Požarevac. The plant was established to manufacture automotive wiring harness products for Daimler Trucks. (Source: Flyability, Press Release/Company Website/Newsletter)
Automotive Wiring Harness Market Report Coverage and Deliverables
The “Automotive Wiring Harness Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Vehicle Type ; Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Get Free Sample For