According to the latest report by IMARC Group “Automotive Wiring Harness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global automotive wiring harness market reached a value of US$ 76.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 99.7 Billion by 2027, exhibiting at a CAGR of 4.4% during 2022-2027.
An automotive wiring harness represents an electrical assembly of various vehicle components, such as connectors, wires, terminals, etc., that are utilized to transmit data and power to a single system. Some of the transmitted information includes the operation and performance of the automobile, along with sending and receiving sensor signals. An automotive wiring harness ensures reliable transmission of energy even while being subjected to high temperatures, noise, vibrations, moisture, etc. Consequently, it finds wide-ranging applications in the wiring of engines, sensors, chassis, heating, ventilation and air conditioning (HVAC) systems, etc. storyretelling
Market Trends:
The growing adoption of electric vehicles (EVs), on account of the elevating environmental consciousness, is primarily driving the automotive wiring harness market. In addition to this, the inflating demand for numerous product variants, including aluminum harnesses that aid in reducing vehicular weight, improving fuel economy, minimizing carbon emissions, etc., is further catalyzing the market growth. Moreover, the shifting consumer preferences from conventional wiring systems towards automotive wiring harnesses, owing to their highly secure and reliable connections, are acting as significant growth-inducing factors. Besides this, the rising investments in R&D activities aimed at developing cost-effective optical fibers are also augmenting the global market. Furthermore, the increasing integration of automobiles with Advanced Driver Assistance Systems (ADAS) for securing safety sensors, such as automated control systems and blind-spot detection in several models, is anticipated to fuel the automotive wiring harness market over the forecasted period. ventssmagazine
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Delphi Technologies (BorgWarner Inc.)
- Furukawa Electric Co. Ltd.
- Lear Corporation
- Leoni AG
- Nexans Autoelectric GmbH
- PKC Group Plc (Motherson Sumi Systems Ltd.)
- Samvardhana Motherson Automotive Systems Group B.V.
- Sumitomo Electric Industries Ltd.
- THB Group (AmWINS Group, Inc)
- YAZAKI Corporation
- YURA Corporation
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Application:
- Body Wiring Harness
- Engine Wiring Harness
- Chassis Wiring Harness
- HVAC Wiring Harness
- Sensors Wiring Harness
- Others
Breakup by Material Type:
- Copper
- Aluminum
- Others
Breakup by Transmission Type:
- Data Transmission
- Electrical Wiring
Breakup by Vehicle Type:
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
Breakup by Category:
- General Wires
- Heat Resistant Wires
- Shielded Wires
- Tubed Wires
Breakup by Component:
- Connectors
- Wires
- Terminals
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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