Automotive Wiring Harness Market Share, Size, Growth, Outlook and Analysis 2022-27
According to the latest report by IMARC Group “Automotive Wiring Harness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global automotive wiring harness market reached a value of US$ 76.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 99.7 Billion by 2027, exhibiting at a CAGR of 4.4% during 2022-2027.
An automotive wiring harness is an assembly of components, such as electric wires, connectors, and terminals, that relay power and information throughout the vehicle. It plays a vital role in transmitting information about the operation of the vehicle, supplying power, and sending and receiving sensor signals.It acts as a safety casing, which further assists in preventing fires caused by short circuits. At present, the rising need for cost-effective and reliable optical fibers, along with the escalating demand for Advanced Driver Assistance Systems (ADAS) in vehicles, is catalyzing the demand for the automotive wiring harness.
Market Trends:
The prospering automotive sector represents one of the major factors stimulating market growth. Moreover, the increasing adoption of electric vehicles (EVs) on account of rising environmental concerns and stringent government regulations for minimizing carbon emissions is driving the market. Apart from this, an automotive wiring harness offers secure and reliable connections and enhances the fuel efficiency of vehicles as compared to conventionally utilized wiring systems. This, in confluence with product innovations like the development of aluminum harnesses, is strengthening the growth of the market.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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