The key driver of the growth of the automotive wiring harness market is the trend toward integrating cutting-edge technology to enhance driving enjoyment and vehicle performance. In addition, a surge in automobile sales is accelerating the market’s expansion.
JERSEY CITY, N.J., Sept. 19, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Automotive Wiring Harness Market” By Material (Copper, Aluminum), By Propulsion (ICE Vehicles, Electric Vehicles), By Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV)), By Application (Engine Harness, Chassis Harness), and By Geography.
According to the extensive research done by Verified Market Research experts, the Automotive Wiring Harness Market size was valued at USD 40.44 Billion in 2022 and is projected to reach USD 58.79 Billion by 2030, growing at a CAGR of 4.25% from 2023 to 2030.
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Browse in-depth TOC on “Automotive Wiring Harness Market“
202 – Pages
126 – Tables
37 – Figures
Key Developments
Mergers and Acquisitions
- In January 2022, Aptiv announced the acquisition of wind river, which is a prominent software firm. Aptiv is advanced software and systems integration business organization. The business move will lead to increased investments in software development.
Product Launches and Product Expansions
- In March 2022, Sumitomo Electric announced the launch of the New Z2C fusion splicer, which is based on AI-programmed fusion technology. It will enhance the work efficiency at its construction sites and the business organization is committed to its advancements in technologies and quality product deliveries.
Global Automotive Wiring Harness Market Overview
An organized system of wires, terminals, and connections that run throughout the whole vehicle and transmit data and electrical power is known as a wiring harness. As a result, wiring harnesses are crucial in connecting a number of components. The progress of automobiles means that more and more of its component elements need electronics to be able to satisfy other needs. It is clear that wiring harnesses play a significant role in the growth and development of auto manufacturers all over the world.
Safer, more energy-efficient, less expensive to maintain, better for the environment, and many other benefits are provided by electric vehicles. Due to rising fuel prices and environmental concerns, there is a growing market for hybrid and electric automobiles. The benefits of hybrid vehicles are also becoming more widely known among customers and governments, which increases demand for them. Due to this need, the global automotive wiring harness market has expanded. The market is expanding as a result of the increased focus on safety solutions for electric cars.
Additionally, the increased per capita income of consumers is contributing to an increase in automobile sales all around the world. The tendency of incorporating cutting-edge features into automobiles, or simultaneously, is what spurs the need for automotive wire harnesses.
Key Players
The major players in the market are Sumitomo Electric, APTIV, Yazaki, Furukawa, Lear, PKC, Nexans, Samvardhana Motherson, Fujikura, Leoni.
Verified Market Research has segmented the Global Automotive Wiring Harness Market On the basis of Material, Propulsion, Vehicle Type, Application, and Geography.
- Automotive Wiring Harness Market, by Material
- Copper
- Aluminum
- Others
- Automotive Wiring Harness Market, by Propulsion
- ICE Vehicles
- Electric Vehicles
- Automotive Wiring Harness Market, by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Buses
- Truck
- Automotive Wiring Harness Market, by Application
- Engine Harness
- Chassis Harness
- Battery Harness
- Airbag Harness
- Seat Harness
- Door Harness
- Others
- Automotive Wiring Harness Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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