The Global Automotive Wiring Harness Market is estimated to reach USD 65.2 Billion by 2027 at a CAGR of 4.6 %.
The wire harness is a set of electrical cables and wires bundled together mainly for signal transmission and providing electric power supply. It is also called as cable assembling or wiring loom. Automotive wiring harness plays an important role as they can be installed as one unit instead of one wire at a time, this helps to save space and increases the overall safety. It is designed to enhance the fuel efficiency of the vehicle. These harnesses can be designed as per the geometric and electrical requirements and thus can be used in the engine, body, and chassis of the vehicle.
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AUTOMOTIVE WIRING HARNESS MARKET: Drivers & Restraints
- Growing Need for Automotive Safety systems
The wire harness is a crucial component of the automotive safety system. The main function of a wired system in any transportation is to transfer electricity from a power source safely to a given product. Any fault in the wiring system can result in short circuit, electrical fires, and can harm any users and passengers. Hence, there exists a high need for a better safety system to boost the passenger’s safety, which is expected to drive the automotive wiring harness market during the forecast period.
- Rising Adoption of Electric Vehicles
The development of innovative technologies by automotive manufacturers is an outcome of the growing demand for luxurious and smart vehicles. Compared to the internal combustion engine (ICE) vehicles the need for wire harness is 3x in electric vehicles. Thus, the rise in demand for electric vehicles is projected to drive the demand for automotive wiring harness. According to the Edison Electric Institute, the total sales of electric vehicles in the United States raised 81% in 2018, as compared to 2017.
Thus, the rising adoption of electric vehicles is expected to propel the demand for automotive wiring harness market during the forecast period.
- Fluctuating Raw Material Prices
Copper is the world's most used metal due to its conductivity and versatility. Price fluctuations of copper, uncertain shortage, and supply-demand gap have significant negative impact on automotive manufacturers. Lack of constant supply of raw materials results in increasing raw material prices which, escalates the overall product price. Thus, fluctuating raw material price is a restraining factor for automotive wiring harness market growth during the forecast period.
AUTOMOTIVE WIRING HARNESS MARKET: Key segments
- By Component: Connectors, Electric Wires, Terminals and Others
- By Material: Conductor and Insulation
- By Application: Body Wiring Harness, Engine Wiring Harness, Chassis Wiring Harness, HVAC Harness, Battery Harness, and Others
- By Vehicle Type: Internal Combustion Engine (ICE), Electric Vehicles (EVs), and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa, and South America with individual country-level analysis
AUTOMOTIVE WIRING HARNESS MARKET: Report SCOPE
The report on the Automotive Wiring Harness market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered
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List of the leading companies operating in the Automotive Wiring Harness Market include:
- Sumitomo Electric Industries, Ltd. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- FURUKAWA ELECTRIC CO., LTD.
- YAZAKI Corporation
- LEONI AG
- Motherson Group
- PKC Group Ltd
- Fujikura Ltd.
- Lear Corporation
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AUTOMOTIVE WIRING HARNESS MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Wiring Harness Market, by Component
- Electric Wires
Automotive Wiring Harness Market, by Material
- Polyvinyl Chloride (PVC)
- Chlorinated Polymers
Automotive Wiring Harness Market, by Application
- Body Wiring Harness
- Power Windows
- Door Locks
- Interior Electrical Components
- Engine Wiring Harness
- Cruise Control Systems
- Anti-Lock Braking Systems
- Speed Sensors
- Fuel Injection Systems
- Chassis Wiring Harness
- Front Harness
- Rear Harness
- Main Harness
- HVAC Harness
- Battery Harness
Automotive Wiring Harness Market, by Vehicle Type
- Internal Combustion Engine (ICE)
- Electric Vehicles (EVs)
- Battery Electric Vehicles (BEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Hybrid Electric Vehicles (HEVs)
- Fuel Cell Electric Vehicles (FCEV)
Automotive Wiring Harness Market by Region
· Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
· North America (US, Canada, Mexico)
· Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
· Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
· South America (Brazil, Argentina, Rest of South America)
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