IMARC Group, a leading market research company, has recently released a report titled “Automotive Wiring Harness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive wiring harness market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Automotive Wiring Harness Industry?
According to the report, The global automotive wiring harness market size reached US$ 80.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 103.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.15% during 2023-2028.
What is Automotive Wiring Harness?
An automotive wiring harness is a vital component of a vehicle, encompassing a collection of electric wires. It ensures a comprehensive electric power supply and efficient transmission of signals. It incorporates connectors, terminals, and seals, typically made from thermosets or thermoplastic materials. These materials protect the wires and cables against harsh external environment conditions. It can withstand high temperatures and can be customized to meet the specific requirements of vehicle owners. It facilitates the transmission of various control signals, thus maintaining essential functionalities and enhancing the overall safety of automobiles. It also aids in establishing connections between different components of a vehicle, including the engine, body, dashboard, chassis, and doors. Its primary purpose is to fulfill both electrical and dimensional requirements. It ensures seamless functionality by linking the internal vehicular system with power horn relays, ignition switch connectors, engine fans, brake lights, and power windows. It also eliminates the complexity of managing multiple wires individually and reduces the chances of faulty wiring. Since it is cost-efficient and durable, automotive wiring finds extensive applications in the manufacturing of various vehicles, including two-wheelers, three-wheelers, utility vehicles, farm vehicles, and electric vehicles (EVs), across the globe.
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What are the growth prospects and trends in the automotive wiring harness industry?
The global automotive wiring harness market is primarily driven by the increasing demand for automotive wiring harnesses to enhance safety measures and power delivery systems in vehicles. Along with this, the rising utilization of these harnesses in hybrid cars to manage electrical loads and mitigate electromagnetic noise is positively influencing market growth. Moreover, the surging adoption of electric cars to reduce fossil fuel consumption and minimize automobile exhaust emissions is another major growth-inducing factor. Apart from this, governments of numerous countries are promoting the use of electric cars to combat air pollution and address climate change concerns. In line with this, the incorporation of electric vehicles (EVs) into public transportation systems due to the rising environmental awareness among the masses has catalyzed market growth. Additionally, the integration of advanced systems such as emergency braking systems, airbags, navigation systems, and lane departure warning systems (LDWS) in modern vehicles has augmented the demand for automotive wiring harnesses, as they enhance functionality and driver safety. In addition, automobile manufacturers are focusing on improving the temperature resistance capabilities of heavy-duty vehicles and minimizing the occurrence of short circuits, thereby propelling market growth. Furthermore, the widespread integration of automobiles with advanced driver assistance systems (ADAS) is contributing to market growth. Other factors, including ongoing research and development (RD) conducted by key players, rising utilization of affordable and reliable optical fibers, and the advent of aluminum harnesses used for reducing vehicular weight, are also anticipated to drive the market further.
Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the top leading automotive wiring harness manufacturers.
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
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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