USD 48614 Million
Report ID:
SQMIG25A2164 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
64
|Figures:
75
Automotive Wiring Harness Market size was valued at USD 51975.95392 Million in 2023 and is poised to grow from USD 53743.14 Million in 2024 to USD 70224.28 Million by 2032, growing at a CAGR of 3.4% during the forecast period (2025-2032).
In recent times, the adoption of electric vehicles is increasing due to increasing government incentives for both manufacturers and consumers. This, in turn, is fueling market growth. Rising integration of advanced technologies such as vehicle-to-vehicle communication, self-healing for electric vehicles, smart battery systems, and smart braking & safety systems, among others, is attributed to drive the market growth. In line with these advancements, the introduction of autonomous and semi-autonomous vehicles, which have a high dependency on components such as low-latency communication devices, sensors, cameras, and radar, will increase the demand for automotive wiring harnesses within the automotive manufacturing industry, thereby offering numerous growth opportunities to the global market. Moreover, the increasing use of optical fibre for producing wiring harnesses is expected to create new opportunities for market players. The rising consensus pertaining to security and safety while driving is fuelling the demand for driver-assisting technologies such as adaptive cruise control, blind spot detection, adaptive front light, and lane departure warning systems. In addition, vehicle manufacturers are obliged to comply with stringent safety norms introduced by authorities worldwide and are expected to support the market growth.
US Automotive Wiring Harness Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 48614 Million
Largest Segment
Light Vehicles
Fastest Growth
Light Vehicles
Growth Rate
3.4% CAGR
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Global Automotive Wiring Harness Market is segmented by Category, Propulsion Type, Application, for ICE Vehicles, Component, for ICE Vehicles, Material Type, for ICE Vehicles, ICE Vehicles Type and Application, Transmission Type, for ICE Vehicles, Transmission Type, for Electric Vehicles, Material Type, for Electric Vehicles, Application, Data Transfer Rate, Type and Application, for Electric Vehicles, and Region. Based on Category, the market is segmented into General Wires, Heat-Resistant Wires, Shielded Wires, Tubed Wires. Based on Propulsion Type, the market is segmented into ICE, EV. Based on Application, for ICE Vehicles, the market is segmented into Seat Harness, Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Sunroof Harness, Door Harness. Based on Component, for ICE Vehicles, the market is segmented into Connectors, Wires, Terminals, Others. Based on Material Type, for ICE Vehicles, the market is segmented into Metallic (Copper, Aluminum, Other Materials), Optical Fiber (Plastic Optical Fiber (POF), Glass Optical Fiber (GOF)). Based on ICE Vehicles Type and Application, the market is segmented into Passenger Car (Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Seat Harness, Sunroof Harness, Door Harness), Light Commercial Vehicle (Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Door Harness), Bus (Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Door Harness), Truck (Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Door Harness). Based on Transmission Type, for ICE Vehicles, the market is segmented into Data Transmission and Electrical Wiring. Based on Transmission Type, for Electric Vehicles, the market is segmented into Data Transmission and Electrical Wiring. Based on Material Type, for Electric Vehicles, the market is segmented into Metallic (Copper, Aluminum, Other Materials) and Optical Fiber (Plastic Optical Fiber (POF), Glass Optical Fiber (GOF)). Based on Application, the market is segmented into Battery & Battery Management and Motor Management. Based on Data Transfer Rate, the market is segmented into <150 Mbps and 150 Mbps To 1 Gbps. Based on Type and Application, for Electric Vehicles, the market is segmented into Battery Electric Vehicle (BEV) (Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Seat Harness, Sunroof Harness, Door Harness), Plug-In Hybrid Electric Vehicle (PHEV) (Traction Harness, Engine Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Seat Harness, Sunroof Harness, Door Harness), and Fuel Cell Electric Vehicle (FCEV) (Traction Harness, Chassis Harness, Body & Lighting Harness, HVAC Harness, Dashboard/Cabin Harness, Battery Harness, Seat Harness, Sunroof Harness, Door Harness). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Automotive Wiring Harness Market Analysis by Component
Based on component, the terminal segment is dominating the automotive wiring harness market with the largest revenue. This segment in the market is growing exponentially because of the increasing focus on safety and dependability in automotive electrical systems. This is increasing the demand for terminals with improved thermal management and vibration resistance. The automotive industry is experiencing a substantial move towards integrating advanced connectivity features. These features consist of crimple terminals, quick-connect terminals, and waterproof terminals within wiring harnesses. The increasing intricacies of vehicles is boosting the growth of electric vehicles (EVs) and hybrids, and an increasing emphasis on dependability and durability.
Based on component, connector segment is witnessing the fastest growth in the automotive wiring harness market. The advancement of connected and autonomous vehicles needs sophisticated wiring systems. These systems can help in supporting interaction between various vehicle components and external networks. Connectors are extremely useful for allowing data transfer between sensors, controllers, and other electronic elements in these vehicles. Moreover, there is also a move towards modular connector design with interchangeable components. This can smoothen assembly procedures and accommodate future vehicle structures. These factors are boosting the demand for connectors in the automotive wiring harness market.
Automotive Wiring Harness Market Analysis by Vehicle Type
Based on vehicle type, the light vehicles segment is dominating the automotive wiring harness market with maximum market share. Light vehicles like utility vans, SUVs, or trucks are now equipped with advanced systems. It includes GPS, advanced infotainment systems, smart lights, and panoramic roofs, even with sensors for temperature control and tire pressure. The incorporation of such technologies and equipment in light vehicles is assisting in redefine comfort and functionality while traveling. This is because now consumers are more inclined towards advanced functions and driving experience during purchasing a vehicle. The wiring harness in these vehicles is increasing the proportion while maintaining an ideal vehicle weight. Therefore, the increasing functions in the vehicle will positively influence the demand for wiring harnesses in light vehicles.
Based on vehicle type, the heavy vehicles segment is witnessing the fastest growth in the automotive wiring harness market. This growth of this segment is increasing rapidly in the market as in recent times, many government facilities and regulatory bodies are emphasizing on road safety. This is growing the demand for safety systems in heavy commercial vehicles and the necessity for ADAS. There has been a rising number of accidents for heavy vehicles on the road due to their size and weight. The ADAS technologies can help in minimizing the risk of accidents and enhancing safety, boosting the demand for wiring harnesses. Moreover, the growing adoption of automation and connectivity technologies in the transportation sector is also fueling the demand for wiring harnesses in heavy vehicles.
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North America is dominating the automotive wiring harness market with the largest market share. The market in this region is growing exponentially due to increased road building initiatives and growing car production, especially in developing economies such as the U.S. In addition, rising demand for enhanced safety and convenience features in mid-segment vehicles, as well as cheap labor costs, are driving up sales. As a result, rising automobile manufacturing, driving technology improvement, and widespread use of electric vehicles are expected to fuel demand in North America. The growing adoption of autonomous vehicles and the increasing emphasis on vehicle electrification is increasing investments in advanced wiring harness technologies. These advancements encompass innovations in areas like high-speed data transmission, electromagnetic shielding, and thermal management to accommodate the intricate electrical systems of vehicles.
Asia Pacific is witnessing the fastest growth in the automotive wiring harness market. The unique nature of the automotive sector in the Asia Pacific is opening huge possibilities for the manufacturers of automotive wiring harnesses. They are taking advantage of the advancement in technology and transforming consumer preferences. Furthermore, market players are also emphasizing on innovation and product differentiation to efficiently fulfill the demand for this changing market. The growing focus on innovation is also boosting investments in research and development. This can help in improving the performance, efficiency, and dependability of automotive wiring harness solutions. Major players in the automotive sector are prioritizing partnerships and collaborations with local wiring harness manufacturers, fueling the demand of the market in the region.
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Automotive Wiring Harness Market Drivers
Incorporation of Fibers Optics
Increasing Use of EMI Shielding for Electromagnetic Compatibility
Restraints
Electrification and Lightweight to Restrict Market
Growing Connectivity and Data Management
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The automotive wiring harness market is experiencing massive growth because many key players are heavily investing in extensive R&D. This is because of the constant technological advancements, regulatory changes, and shifting consumer preferences. Furthermore, companies are depending on advanced wiring harnesses for power transmission and data communication due to the complexity of electrical systems. This is helping the businesses to gain a competitive edge. Many leading players are adopting advanced sensor systems, high-speed data transmission, and power management systems. This is helping them to meet the rising demands from consumers, fueling the growth of the market. The growing demand for harnesses manufactured of lightweight, high-conductivity, and heat-resistant materials is also boosting the market.
Automotive Wiring Harness Market Top Player’s Company Profiles
Automotive Wiring Harness Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global automotive wiring is harnessing as manufacturers are increasingly embracing environmentally friendly market materials and production processes. It will help in meeting the growing demand for environmentally sustainable products in the automotive wiring harness Market. To lessen its negative impact on the environment, the sector is making progress in a variety of areas, including the use of energy-efficient manufacturing techniques and recyclable materials. In line with the greater commitment that the automotive industry has made to responsible and environmentally friendly operations, this trend is occurring.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 50,266.88 million |
Market size value in 2031 | USD 67915.16 million |
Growth Rate | 3.4% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Automotive Wiring Harness Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Wiring Harness Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Wiring Harness Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Wiring Harness Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG25A2164
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