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 2030

Automotive Wiring Harness Market Overview:

Automotive wiring harness market is expecting a CAGR growth rate of 4.30% during the ongoing forecast period of 2022-2030.

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..

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 2030 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 2030. 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 2022-2030. 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 2030.


• 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.