Automotive Wiring Harness Market Research Report - Forecast to 2027

Automotive Wiring Harness Market Research Report by Material Type (Copper, Aluminum and Others), Component Type (Wires, Connectors and Terminals), Application (Engine, HVAC, Body, Chassis, Sensors, Others), Vehicle Type (Passenger Vehicle and Commercial Vehicle) - Forecast to 2027

ID: MRFR/AM/1778-CR | October 2020 | Region: Global | 111 pages

Automotive Wiring Harness Market Overview:


Automotive wiring harness market is expecting a CAGR growth rate of 3% during the ongoing forecast period of 2017-2023.


An automotive wiring harness refers to an electrical assembling of various vehicle components that help in transmitting both powers, along with information through a single system. This has an important role to play in the transmission of information that is related to the vehicle operations, to send and receive sensor signals along with supplying power at the time of need. For vehicular emission, major countries like Germany, China, the USA, and France, are implementing laws regulated by the government to make use of advanced technologies. This will help in curbing the level of high emissions in vehicles. This market’s functions are expected to increase fuel efficiency and hence, help in lowering the emission levels by the use of vehicles. Also, one of the main purposes behind this is that more eco-friendly vehicles are in demand and use globally.


Owing to these factors, the major demand for the market is expected to increase and help the market reach an estimated valuation worth USD ~54 Billion by the end of the global forecast year of 2023.


COVID 19 Analysis


The global coronavirus pandemic is responsible for accelerating change in the global automotive wiring harness market. As stated, the market functions are related to the advanced features and technological development of the luxury car market. Due to the imposition of restrictions and alterations in the business working hours and conditions, it is a very tough time, globally. The market is facing operational restrictions due to which they are not able to produce as per the expected demand. This is further causing them losses and hence, there is a decline in the sales quantum of luxury cars in the major geographies of the world.


Hence, the government and public sector are collaborating with the prominent market players spread across developing and developed world economies to present innovative features and technological advancements as a part of luxury cars. This is expected to work positively, and hence, help the market grow as per the expected CAGR rate by the end of the global forecast period in 2023 and reach the market valuation as discussed and projected during this period.


Competitive Landscape


To get a detailed and profound idea about the Automotive Wiring Harness Market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the globe. Various key players are using expansion and partnership strategies for maintaining their position in the global market. The prime players of the market are:- 



  • Lear Corporation (U.S.)

  • Fujikura Ltd. (Japan)

  • THB Group (China)

  • Sumitomo Electric Industries Ltd. (Japan)

  • Furukawa Electric Co., Ltd. (Japan)

  • YAZAKI Corporation (Japan)

  • Delphi Automotive Plc. (the U.K.)

  • PKC Group (Finland)

  • LEONI AG (Germany)

  • MOTHERSON SUMI Systems (India),


Recent Developments



  • As far as, the case of electric vehicles is concerned, the HEV market segmented is expected to increase its development and production scale that will help the market reach the expected market valuation. The HEV is likely to hold the largest share in the global market, thus benefitting the consumers.

  • The government is providing monetary benefits and subsidies along with helping in the development of the required infrastructure. This is collaborating with the hike in fuel prices and creating a wide-scale demand for the BEV market segment. The interface is user-friendly and hence, it is catering to the demand for comfort and luxury while using passenger cars.

  • The global market is witnessing a huge demand for the transmission of data with the help of high-speed through the vehicle manufacturer which will help in a large adoption of the optical fiber in the market.

  • The prominent market players are investing largely in the development of autonomous cars that run on high-speed data transmission and also, come packed with advanced electric features. Hence, there is a lot of scope for the market by the end of the forecast period in 2023. The target is the luxury brands that have already recorded an excellent quantum of sales in the historic forecast year of 2016 in major geographies the global market was previously and currently functional in, across the globe.


Market Dynamics


Drivers


It is a surprising yet very positive fact that most of the emerging and developing nations are largely devoting their focus on the development of technologies applicable in the market. Also, they are eyeing for a wide-scale infrastructural development related to the automotive manufacturer of luxury cars in their region. Also, the growth in the complexities related to onboard electronics has a major role to play in driving the global market’s demand.


Restraints


The high cost associated with the wide use of the wiring harness is a factor that is harming the potential growth of the global market.


Technology Analysis


The ongoing global forecast period for the market is 2020-2027. during this region, the global automotive wiring harness market is expected to grow at a staggering rate. The market is functional in 4 major geographies of the world and the key market players belonging to these regions are focusing on the development of the advanced features which are increasing with each passing year. The main focus is on the development of features like keyless entry, alarms, immobilizers, along with assisting when there is a case of stolen vehicle and theft. Additionally, the players are increasing the penetration of luxury cars belonging to major brands like Lamborghini and Maserati. As far as the APAC region is concerned, the focus of the companies belonging to markets like India, Japan, along China is catering to the demand by conducting the process of vehicle production on a large scale. The demand has majorly driven in the past 5 years. The brands of this market are Volkswagen, Mercedes Benz, Audi, along with others like Daimler, BMW, and Porsche. This region is also investing in the development of the availability of features like vehicle access control. 


Study Objectives



  • To take up the viewpoint of various industry experts and leaders into consideration and predict compound annual growth rate and market growth rate by the end of the global market of automotive wiring harness forecast in 2027.

  • To bring out a competitive market outlook and examine the yield models of key market players, worldwide. 

  • To observe the various market dynamics like trends, drivers, and opportunities from the report. These factors are most probable to play a role in helping the market. The different segments growing in the domestic, as well as the international market, also will make a difference to the expected growth rate and market valuation.


Segment Overview


Automotive Wiring Harness market share is anticipated to witness significant growth owing to the performance of different market segments. Among all segments, the copper segment of material type will be the fastest-growing segment during the forecast period. For an amplifying use the market is segmented into the following on different bases:


Based on material type, it has copper, aluminum, and others.


Based on component type, it has wires, connectors, and terminals.


Based on vehicles, it has passenger, electrical and commercial vehicles.


Based on application, it has engines, chassis, heating, sensors, body, ventilation, and air conditioning (HVAC), and others. 


Regional Analysis


The Automotive Wiring Harness market industry movements are remarkably working in 5 major regions of the world Europe, Asia Pacific, Africa, North America, and the Middle East. Asia Pacific region is expected to witness tremendous growth during the forecast period. The reason attributed to it is the rising demand for luxury cars such as Ferrari, Maserati, and Rolls Royce. India and China are considered to be the largest manufacturers of such cars. Many of these luxury car companies had expanded their market, especially in Japan and China. The security of passengers is the main thing that these companies keep in mind while manufacturing and designing. Other special technological features provided by these companies attract more consumers such as entry without a key or handprint lock, in-built GPS, automatic gear shifting, and stolen vehicle tracking and alarms. All these additional features combined with the growing demand for luxury vehicles will boost the market in this region.


Report Overview


The Automotive Wiring Harness Market report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report discusses the impact of covid-19 on the key players of the industry. The report also tells about the segmentation of the market on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in the field of Automotive Wiring Harness.



Report Scope:
Report Attribute/Metric Details
  Market Size   2023: USD 93,074.4 Million
  CAGR   6.35% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units    Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material Type, Component Type, Application, Vehicles
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lear Corporation (U.S.), Fujikura Ltd. (Japan), THB Group (China), Sumitomo Electric Industries Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), YAZAKI Corporation (Japan), Delphi Automotive Plc. (renamed itself as Aptiv) (U.K.), PKC Group (Finland), Leoni AG (Germany), Motherson Sumi Systems (India
  Key Market Opportunities   Growing demand for technically advanced electronic safety equipment in the automotive sector
  Key Market Drivers

  • Soaring demand for electric vehicles
  • Growing penetration of luxury vehicles


  • Frequently Asked Questions (FAQ) :


    Advancements in the semiconductor technology to bring down the number of units as well as the weight of cars, surging demand for cars for travelling purposes and the increasing purchasing power of consumers can benefit the global market in the near future.

    Soaring demand for electric vehicles can create a growth opportunity in the market.

    The material types covered in the report include aluminum, copper, and others.

    The market has been studied with respect to regions of Europe, Asia Pacific, the Middle East and Africa as well as North America.

    The most renowned players in the market are PKC Group (Finland), Delphi Automotive Plc. (renamed itself as Aptiv) (U.K.), Motherson Sumi Systems (India), Lear Corporation (U.S.), Fujikura Ltd. (Japan), Sumitomo Electric Industries Ltd. (Japan), YAZAKI Corporation (Japan), THB Group (China), Leoni AG (Germany), Furukawa Electric Co., Ltd. (Japan), and others.

    The growth rate that the market can achieve is 6.35%.

    The market can touch a valuation of USD 93,074.4 million by 2023.

    The harness starts at the engine and connects to the fuse box. The wires branch off to their various components here, then they return back to the engine.

    The global automotive wiring harness market is anticipated to reach a valuation of USD 93,074.4 million by 2023, expanding at a 6.35% CAGR during the assessment period (2018-2023). High sales of cars is the primary factor driving the market. Focus on automotive manufacturers in developing nations and complexities in on-board electronics are anticipated to spur market growth during the forecast period. Integration of advanced driver assistance systems (ADAS) and infotainment systems in cars is predicted to provide growth opportunities for players.


    Automotive wiring harness is a unit comprising of bundled wires and data circuits which acts a conduit between all electrical components of an automotive. The unit protects wires and cables from abrasion, moisture, and other external influences. Rise in disposable income levels of consumers is expected to play a major role in market demand in the coming years. Increasing emphasis on passenger comfort and safety is touted to play a developmental role in the market.


    The automotive wiring harness global market has been segmented by material type, component type, application, vehicle type, and region. By material type, the market is segmented into copper, aluminum, and others. The copper segment is expected to generate significant market revenue by 2023 owing to highly regarded properties of coating adherence, finish, resistivity, and high tensile strength.


    By component type, the market is segmented into wires, connectors, and terminals. The wires segment is projected to grow at a 6.43% CAGR over the forecast period. Wires play a pivotal role in relaying electrical signals to various vehicle components. They are used to power meters, engine lights, navigation systems, power windows and doors, etc.


    On the basis of application, the market has been segmented into body, engine, sensors, chassis, heating, ventilation, and air conditioning (HVAC), and others. The engine segment is projected to exhibit a 6.61% CAGR during the forecast period owing to the engine being at the nexus of control of all vehicle components.


    By vehicle type, the market is segmented into passenger and commercial vehicles. The passenger vehicle segment had accounted for a large market share in 2016. It can command a respectable CAGR during the forecast period owing to demand for passenger cars by consumers with disposable incomes.


    Regional Analysis


    On the basis of regions, the global automotive wiring harness market has been segmented into North America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).


    The APAC market is deemed to grow at a 6.79% CAGR over the forecast period. Presence of various automobile manufacturing units in China and India are expected to spur market growth. Increased production of passenger and commercial vehicles is anticipated to bolster market demand in the coming years.


    The North America market accounted for a large market share owing to the U.S. Demand for latest vehicles integrated with the latest technology is expected to bode well for the market. Development of connected vehicles and self-driving vehicles is projected to present new opportunities for local players.


    The Europe market is expected to exhibit a remarkable CAGR owing to presence of commendable automobile manufacturers in the U.K. and Germany. Fiats outlined by regulatory agencies with respect to percentage of pollutants to be emitted is anticipated to lead to rapid adoption of wiring harnesses. In addition, sales of electric vehicles and hybrid electric vehicles can influence market demand in the coming years.


    Competitive Analysis


    PKC Group(Finland), Delphi Automotive Plc. (renamed itself as Aptiv) (U.K.), Furukawa Electric Co., Ltd. (Japan), YAZAKI Corporation (Japan), Fujikura Ltd. (Japan), Sumitomo Electric Industries Ltd. (Japan), Leoni AG (Germany), Motherson Sumi Systems (India), Lear Corporation (U.S.), THB Group (China), and others are some of the noteworthy players in the market. Acquisitions and new product launches are strategies employed by players to gain a larger share in the market. Stringent policies undertaken by regulatory agencies to reduce carbon emissions is expected to bolster market demand in the coming years.

    Automotive Wiring Harness market are coming up with various strategies to stand in the competition


    In competitive landscape, the report covers the growth strategies adopted by the companies between 2015 and 2017. The key players adopted various strategies to retain and/or expand their market share.


    Sumitomo Electric Industries Ltd. is one of the major player, holding the top position in the global automotive wiring harness market. The company is a global provider of products related to automotive electronics, info-communications, industrial materials and environment and energy. In the automotive segment, the company provides wiring harnesses, anti-vibration rubber products, and other automotive parts. The major focus of the company is on new growth in the current business field, investment in integrated business field, and expansion of customer fields.


    Delphi Automotive Plc. is an automotive company, based in the U.K. The company designs and manufactures vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. The Signal and Power Solutions division designs, manufactures, and assembles vehicle’s electrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable management, electrical centers, and hybrid high voltage and safety distribution systems. It operates 126 major manufacturing facilities and 15 major technical centers across the globe. It has offices in 46 countries, which is focused on developing market relevant products and solutions for customers. The company’s major focus is on increasing its manufacturing footprint in Asian markets, including China, and establishing strong business relationships with Asian automotive manufacturers.


    Lear Corporation is headquartered in the U.S. and engaged in the manufacturing of seating assemblies and other components for automotive and aircraft industries. The company operates in 39 countries and has had 18 major acquisitions across the globe. Lear has more than 143 manufacturing facilities in 22 low-cost countries. It serves all of the world’s major automotive manufacturers across businesses and various component categories in both, seating and E-Systems segments. The company’s strategy is to invest in the growth of the business, improve long-term competitiveness, and consistently return cash to shareholders, while maintaining a strong and flexible financial position.


    Leoni AG, a German company, has two major business segments namely, wiring systems, and wire & cable solutions.  The wiring systems division provides complete wiring systems and customized cable harnesses for the motor vehicle industry. Its products and services comprise cable harnesses, integrated wiring systems, high-voltage wiring systems for hybrid and electric vehicles, energy distribution components, and special connectors and related services. The compan has more than 86,000 employees in 31 countries.


    The other major players operating in this market, who have adopted these strategies are Fujikura Ltd (Japan), PKC Group (Finland), Motherson Sumi Systems (India), Furukawa Electric Co., Ltd. (Japan) and THB Group (China).