Global Automotive Wiring Harness Market Insights Forecasts to 2033

• The Global Automotive Wiring Harness Market Size Was Valued at USD 48.16 Billion in 2023
• The Market Size is Growing at a CAGR of 5.52% from 2023 to 2033
• The Worldwide Automotive Wiring Harness Market Size is Expected to Reach USD 82.45 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

 

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The Global Automotive Wiring Harness Market Size is Anticipated to Exceed USD 82.45 Billion by 2033, Growing at a CAGR of 5.52% from 2023 to 2033.

 

Market Overview

The wire harness regulates the flow of information and energy inside the E/E system that allows core automotive tasks such as steering and braking, and the secondary car functions like air conditioning and entertainment. It establishes connections among the automobile vehicle's electrical and electronic (E/E) parts, including batteries, sensors, actuators, and electronic control units (ECUs). These wires are linked by using cable ties, cable lacing, straps, and electrical tape or a combination. These wires reduce the installation duration by setting up a single set of cables instead of integrating multiple wiring units. Also, these cables are made up of robust components which enables them to function exquisitely in difficult situations and have the capacity to handle massive electrical demands. The fast expansion of the motor vehicle industry globally due to the technologically advanced innovations introduced in the automobile industry is the contributing factor driving the growth of the automotive wiring harness market.

 

Report Coverage

This research report categorizes the market for the global automotive wiring harness market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global automotive wiring harness market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global automotive wiring harness market.

 

Driving Factors

Several driving factors contribute to the growth and demand of the vehicular wire harness market globally. These wires improve the overall safety features as well as create limitless opportunities for customization. They are more secure and are less affected by the elements like moisture, vibration, and scratches. These wires are bundled together by heat-resistant components that reduce the risk of an electrical fire. Also, the application of terminals and connectors plays a major role in customizing the wire harness enabling the electronic framework to function at its peak. The rising demand for EVs (Electrical Vehicles) is further fueling the market of the automotive wire harness market. As per the data provided by the International Energy Agency China sold nearly 8 million Electrical Vehicles in the year 2023 globally.

 

Restraining Factors

Several restraining factors will inhibit the rise of the automotive wire harness market internationally. The production deficits and the quality of raw materials used to manufacture these automotive wire components. Poor maintenance or inappropriate configuration can cause problems with machine-made wire systems. Common errors involve bad soldering or crimping, weak connections, and incorrect wiring arrangement. Also using the primitive copper alloy instead of OEM-grade copper for the crucial components like the terminals will restrict the growth of the market.

 

Market Segmentation

The global automotive wiring harness market share is classified into application, component, and vehicle type.

 

• The chassis segment is expected to hold the largest share of the global automotive wiring harness market during the forecast period.   

Based on the application, the global automotive wiring harness market is divided into engine, HVAC, chassis, and body. Among these, the chassis segment is expected to hold the largest share of the global automotive wiring harness market during the forecast period. Due to this segment extensive range of applications in elements like signal indicators, gasoline flaps, headlights, and multimedia systems. The need for chassis wiring is driven by legislative regulations for automobile security, customer's desire for improved driving dynamics with added security features, and new developments in chassis control systems. Improved protection and driver assistance systems, along with the growing electrification and connection of chassis components, are all facilitated by the evolution of wiring harnesses for chassis uses.

 

• The terminal segment is expected to grow at the fastest CAGR in the global automotive wiring harness market during the forecast period.   

Based on the components, the global automotive wiring harness market is divided into connectors, terminals, and electrical wires. Among these, the terminal segment is expected to grow at the fastest CAGR in the global automotive wiring harness market during the forecast period. The growing use of innovative automotive technologies such as autonomous and integrated cars and the subsequent investments in research and development efforts to improve the efficiency, reliability, and performance of automotive wires are the factors that will contribute to the segment’s growth.

 

• The passenger cars segment is expected to grow at the fastest CAGR in the global automotive wiring harness market during the forecast period.    

Based on the vehicle type, the global automotive wiring harness market is divided into passenger cars and commercial vehicles. Among these, the passenger cars segment is expected to grow at the fastest CAGR in the global automotive wiring harness market during the forecast period. The increasing demand for passenger vehicles and technological advancements will boost the growth of the passenger car segment. Due to the rising global population and rapid urbanization, the demand for these vehicles is rising exponentially. Also, the increased utilization of advanced technologies in passenger cars like the advanced driver assistant system (ADAS) and entertainment system will propel the sales of the passenger cars in the market.

 

Regional Segment Analysis of the Global Automotive Wiring Harness Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is anticipated to hold the largest share of the global automotive wiring harness market over the predicted timeframe.

 

 

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Asia Pacific is anticipated to hold the largest share of the global automotive wiring harness market over the predicted timeframe. The constantly changing automotive landscape in Asia Pacific offers multiple opportunities for automotive wire harness producers to take advantage of technological advancements and changing consumer demands. Because of this, industry participants like Audi, BMW, and Mercedes Benz have focused on innovations and product distinction to effectively satisfy the changing needs of the market. Research and development expenditures aimed at improving the effectiveness, productivity, and dependability of automotive wire harness solutions are being propelled by the subsequent focus on innovation.

 

North America is expected to grow at the fastest pace in the global automotive wiring harness market during the forecast period. A growing focus on electric vehicles and the growing popularity of autonomous cars are expected to drive major investments in innovative vehicular wire harness technology. To deal with the complex electrical framework of automobiles, developments include advances in the field of high-speed data transmission, temperature control, and electromagnetic protection. As the automotive industry develops further, there will probably be a significant increase in the need for innovative wire harness solutions that can adapt to the constantly evolving requirements of connected and electrified vehicles.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global automotive wiring harness market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Kromberg & Schubert GmbH Cable & Wire
• Sumitomo Electric Industries, Ltd.
• THB Group
• China Auto Electronics Group Limited (THB Group)
• Aptiv PLC
• Yura Corporation
• Spark Minda
• PKC Group
• Motherson
• Delphi Technologies PLC (Aptiv PLC)
• Nexans autoelectric GmbH
• Furukawa Electric Co., Ltd.
• LEONI AG
• Lear Corporation
• Yazaki Corporation
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In February 2023, Hero Electric collaborated with Dhoot Transmission which ensures increased vehicle performance and consumer security by using robust and reliable components.

 

• In May 2023, Sumitomo Electric Industries, Ltd. advanced the creation of an automobile optical harness system with retail versions scheduled for introduction in 2026.

 

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive wiring harness market based on the below-mentioned segments: 

 

Global Automotive Wiring Harness Market, By Application

• Engine
• HVAC
• Chassis
• Body

 

Global Automotive Wiring Harness Market, By Components

• Connector
• Terminals
• Electrical wires

 

Global Automotive Wiring Harness Market, By Vehicle Type

• Passenger cars
• Commercial Vehicles

 

Global Automotive Wiring Harness Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa