Automotive Wiring Harness Market

Key Insights

The Global Automotive Wiring Harness Market is valued at USD 48.78 Billion in 2023 and is projected to reach a value of USD 68.1 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 4.3% between 2024 and 2032.

Definition And Overview

Automotive wiring harness is used to transmit power and information to a single system in a vehicle that is made up of an electrical assembly of various components. It transmits information about the operation of the vehicle, sending & receiving sensor signals, and supplying power. Automotive connectors are designed for use in automobile electrical systems and automobile cables are means of transmitting electricity to power various devices equipped on a vehicle.

The Global Automotive Wiring Harness Market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2018 to 2022 and forecast from 2023 to 2032.

COVID-19 Impact Analysis

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

The increasing demand for high-performance electric vehicles is anticipated to augment the growth of the Automotive Wiring Harness Market during the forecast period. This is owing to the rising demand of the operating voltage across the powertrain components required to drive these vehicles, which increased from handling 48V to 800V.

The implementation of government laws and regulations for vehicular emission mandated automobile manufacturers to use advanced technologies to combat high emission levels in vehicles in various countries. The use of automotive wiring harness not only increases the fuel efficiency but also lower down vehicular emission levels. Hence, incorporation of advanced wiring harness is expected to support the growth of the market.

One of the major concerns for Automotive Wiring Harness manufacturers in the market is to meet and offer reliability and durability standards of their products. The vehicles are equipped with heavy electronic components to control critical systems and needs solutions that are able to withstand both low and high frequency solutions. Hence, all electronic components used in such powertrain systems must be reliable and durable, since failures in such systems have disastrous results. these factors are High initial costs of insulating glass window compared to normal windows are some factors restraining market growth.

Market Segmentation

Product Types Analysis: Preview

On the basis of Product Types, the market is segmented into Automotive Wiring Harness, Connector, Cable. Automotive Wiring Harness held the highest share in 2022 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the Automotive Wiring Harness in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Automotive Wiring Harness Market growth.

Application Analysis: Preview

Based on Application, the market is segmented into Two Wheelers, Passenger Cars, Commercial Vehicles. Commercial Car held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Automotive Wiring Harness in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

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Regional Analysis Preview

On the basis of region, the Global Automotive Wiring Harness Market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held a leading share of the Global Automotive Wiring Harness Market in 2022. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the Global Automotive Wiring Harness Market are Yazaki Corporation, Cypress Industries, Molex Incorporated, OasisIndia, Sbee Cables, MSSL, Delphi Automotive, Fujikura, Sumitomo Electric Industries Ltd... The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

The Global Automotive Wiring Harness Market can be categorized as Type, Application, End-Use Industry, and Region.