NEW YORK , June 19, 2023 /PRNewswire/ -- The automotive wiring harness market size is forecast to increase by USD 12,286.48 million from 2022 to 2027, at a CAGR of 4.68%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing penetration of automotive electronics, increasing demand for battery electric vehicles (BEVs), and increasing use of advanced materials for wire harnesses. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has extensively analyzed 15 major vendors, including Aptiv, Assembly Solutions Ltd., Coroplast Fritz Muller GmbH and Co. KG, Cypress Holdings Ltd. dba Cypress Industries, Eugen Forschner GmbH, Fritz Draxlmaier GmbH and Co. KG, Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Kromberg and Schubert Automotive GmbH and Co. KG, Lear Corp., Leoni AG, Minda Corp. Ltd., Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, Prysmian Spa, Sumitomo Corp., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp. Communications cable assembly
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Key Benefits for Industry Players & Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Automotive wiring harness market - Segmentation assessment
This automotive wiring harness market report extensively covers market segmentation by application (chassis, engine, HVAC, sensors, and body), vehicle type (passenger vehicles and commercial vehicles), and geography (APAC, Europe , North America , South America , and Middle East and Africa ).
The market share growth by the chassis segment will be significant for the market's growth during the forecast period. The growth of this segment is driven by factors such as various applications of wiring harnesses in chassis and their control systems. Other factors fueling the segment's growth are the growing integration of automotive electronics in automotive chassis control systems and the growing demand for a premium or luxury-segment vehicles.
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Automotive wiring harness market - Market Dynamics
The use of advanced materials in the global automotive wiring harness market is increasing. This results in improved performance but also higher manufacturing costs. Furthermore, extreme temperatures, pressure, and exposure to foreign elements make the use of advanced electrical materials necessary.
The vendors focus on the use of advanced grades of insulators, conductors, and sheaths for wires and cables. Moreover, high-grade copper or aluminum is used for manufacturing conductor materials, which provides resistance to high-temperature excursions and abrasions, enabling high mechanical performance. Hence, such factors drive the market growth during the forecast period.
The increasing use of hybrid powertrains in vehicles leads to a higher demand for wiring harnesses in automotive powertrains. This can be attributed to the use of additional battery packs and electric motors, which require more wiring for transferring data and electric signals.
Due to the growing focus on better fuel efficiency and stricter vehicular emission norms, more OEMs are offering hybrid powertrains in their models. Hence, such trends influence the growth of the market during the forecast period.
Regulatory norms and standards on safety and vehicular emissions govern the global automotive industry. This includes the market in focus. Such regulations present challenges to wiring harness manufacturers, who must meet quality standards and specifications.
As wiring harnesses transfer electrical signals and currents, regulatory institutions have set stringent quality standards to address the potential risks and dangers. For instance, ISO 6469-3 and FMVSS 305 are performance criteria that ensure the safety of the person handling the harness. Hence, such challenges hinder the market growth during the forecast period.
What are the key data covered in this Automotive Wiring Harness Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the automotive wiring harness market between 2023 and 2027
Precise estimation of the size of the automotive wiring harness market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the automotive wiring harness market across APAC, Europe , North America , South America , and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of automotive wiring harness market vendors
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Automotive Wiring Harness Market Scope
Accelerate at a CAGR of 4.68%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, Japan, South Korea, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Aptiv, Assembly Solutions Ltd., Coroplast Fritz Muller GmbH and Co. KG, Cypress Holdings Ltd. dba Cypress Industries, Eugen Forschner GmbH, Fritz Draxlmaier GmbH and Co. KG, Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Kromberg and Schubert Automotive GmbH and Co. KG, Lear Corp., Leoni AG, Minda Corp. Ltd., Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, Prysmian Spa, Sumitomo Corp., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
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3.4 Market outlook: Forecast for 2022-2027
4.1 Global automotive wiring harness market 2017 - 2021
4.3 Vehicle type Segment Analysis 2017 - 2021
6.3 Chassis - Market size and forecast 2022-2027
6.4 Engine - Market size and forecast 2022-2027
6.5 HVAC - Market size and forecast 2022-2027
6.6 Sensors - Market size and forecast 2022-2027
6.7 Body - Market size and forecast 2022-2027
7 Market Segmentation by Vehicle Type
7.3 Passenger vehicles - Market size and forecast 2022-2027
7.4 Commercial vehicles - Market size and forecast 2022-2027
7.5 Market opportunity by Vehicle Type
9.3 APAC - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 North America - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 US - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 South Korea - Market size and forecast 2022-2027
10.3 Impact of drivers and challenges
12.6 Kromberg and Schubert Automotive GmbH and Co. KG
12.15 Tianhai Auto Electronics Group Co. Ltd.
13.3 Currency conversion rates for US$
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