Wire Harness Market Size, Share, Growth Analysis, By Product(Wire Harness Terminal, Wire Harness Connector), By Material(Vinyl, PVC, Polyurethane, Thermoplast Elastomer), By Application(Marine, Marine Engine, Automotive, Military Machines), By Region - Industry Forecast 2024-2031

The Asia-Pacific region is expected to be the largest and fastest-growing market for wire harness medical devices and equipment due to the rapidly growing geriatric population and rising awareness about the benefits of early diagnosis and treatment of chronic diseases. North America is also expected to witness significant growth owing to the favorable reimbursement policies for health care services and technological advancements in wire harness medical devices and equipment.

The Asia Pacific region is the largest market for wire harnesses, accounting for nearly 52% of global sales in 2019. The automotive industry is the largest end-use sector for wire harnesses, followed by the electronics and appliances industries. Within the automotive industry, passenger cars are the largest application for wire harnesses, followed by commercial vehicles. The Asia Pacific region is expected to maintain its position as the largest wire harness market over the forecast period, due to strong growth in demand from the automotive and electronics industries.

China is the largest wire harness market in the Asia Pacific region, accounting for more than 40% of regional sales in 2020. China is also the fastest-growing market for wire harnesses in the region, with sales expected to grow at a compound annual rate of 9.6% between 2022 and 2028 Strong growth in demand from the automotive and electronics industries will drive market expansion over the forecast period. India is another key market in the Asia Pacific region. Growth in demand from major end-use sectors such as automotive and consumer electronics will support the Asia Pacific wire harness market expansion over coming years.