The automotive wiring harness connects various components of a motor vehicle that requires electricity for functioning such as starter, battery, and alternator. An automotive wiring harness simplifies the wiring connection of automotive cars. The wiring harnesses are assembled with high-temperature grade materials, owing to exposure to excessive heat inside the vehicle engine.
In addition, the increasing number of vehicle sales across the globe is boosting the growth of the wiring harness market. For instance, according to Coherent Market Insights, auto sales in US is expected to increase by approximately 10% in year 2021.
Electric vehicles contain many complex components such as an electric traction motor, battery, onboard charger, controller, electric traction motor, and DC / DC converter. The electric vehicle components require a complex wiring harness system for data and signal transmission. Moreover, the wiring harness system of electric vehicles should be able to operate in a high-temperature situation such as battery harness, which is expected to boost the demand for wiring harness systems over the forecast period.
Global Automotive Wiring Harness Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 pandemic had a significant impact on the wiring harness market. Several countries across the globe such as India, Italy, the U.K., and others imposed nationwide lockdown in 2020. Many European countries such as Germany, Spain, and the U.K. also faced the second wave of the COVID-19.
The lockdowns across several countries has negatively impacted the sales of automotive vehicles, which decreases the demand for a wiring harness. For instance, according to Coherent Market Insights, in year 2020, the automotive sales in European countries such as Spain and Italy decreased drastically by 32.6% and 27.5% respectively, due to coronavirus lockdown and other restriction in year 2020.
North America is expected to hold dominant position in the global automotive wiring harness market during the forecast period.
Statistics:
Asia Pacific held dominant position in the global automotive wiring harness market in 2019, accounting for 41.32% share in terms of value, followed by North America, and Europe.
Figure 1: Global Automotive Wiring Harness Market Share (%), By Region, 2019
Asia Pacific region is expected to show the highest growth rate over the forecast period, owing to the increasing sales in luxury cars in growing economy regions such as India and China. For instance, according to China.org.cn, in the year 2020, a total of 2.53 billion luxury vehicles were sold in China, which showed a growth of 14.7 percent from 2019. Sales of luxury car brands such as Lamborghini and Maserati have increased in China in year 2019.
Major companies operating in the global wiring harness market are: Sumitomo Electric Industries, Ltd, Lear Corporation, Leoni AG, Motherson Group, Yazaki Corporation, Aptiv PLC, Furukawa Electric Co, Delphi Automotive LLP, Furukawa Electric Co. Ltd, Nexans Autoelectric, Yura Corporation, THB Group, BorgWarner, Inc, Nexans Autoelectric GmbH, and AmWINS Group Inc.
| Report Coverage | Details | ||
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| Base Year: | 2019 | Market Size in 2019: | US$ 44.83 Bn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 4.70% | 2028 Value Projection: | US$ 62.17 Bn |
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Major companies operating in the global wiring harness market are: Sumitomo Electric Industries, Ltd, Lear Corporation, Leoni AG, Motherson Group, Yazaki Corporation, Aptiv PLC, Furukawa Electric Co, Delphi Automotive LLP, Furukawa Electric Co. Ltd, Nexans Autoelectric, Yura Corporation, THB Group, BorgWarner, Inc, Nexans Autoelectric GmbH, and AmWINS Group Inc. |
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Among Propulsion system segment, the IC engine vehicles sub-segment is expected to dominate the market during the forecast period owing to major share of IC Engine vehicles during the sale of cars in 2019.
IC engine vehicles accounted for an 89.74% share in 2019 and expected to maintain their dominance throughout the forecast period. For instance, the government authorities in India have updated the guidelines related to IC engine vehicles under which the emission of carbon monoxide is to be minimized by 30% and nitrogen oxides by 80%. The regulations are implemented and are followed stringently in the metro cities such as Delhi, Mumbai, etc. According to Bosch Ltd, by 2030, more than 80% of vehicles in India would still be equipped with IC engines.
Figure 2: Global Automotive Wiring Harness Market Value (US$ Bn), 2017 - 2028
The global automotive wiring harness market was valued at US$ 44.83 Bn in 2019 and is expected to reach US$ 62.17 Bn by 2028 at a CAGR of 4.70% between 2021 and 2028.
Automotive wiring harness is an organized set of component that includes connectors, wires, and terminals that run throughout the vehicle, they transmit signals with regards to speed, internal temperature and power to the respective automotive component and electric power to automotive component. This automotive harness combines many electronic and electrical devices into a single system.
In addition, automotive wiring harnesses are used in motorbikes, utility vehicles, commercial vehicles, and cars. Automotive wiring harnesses are designed according to the electrical and geometrical requirements of the vehicle and are embedded in the automotive vehicle. Wiring harnesses are embedded in the dashboard, windows, and electrical components of the automotive vehicle.
Market Dynamics
In the last few years, many electronic devices have been integrated into vehicles to provide enhanced features. For instance, in last few years automotive car manufacturers are offering advanced automotive features such as sunroof, touch infotainment system, airbags, tire pressure monitoring system, in developing economies of Asia Pacific region. Moreover, employing safety features in automotive cars enhances the security of the passenger in the vehicle, which has positively impacted the growth of the automotive wiring harness market. In addition, factors such as increasing disposable income and the initiatives taken by various governments for boosting the manufacturing in their country such as ‘Make in India initiative’ in India, has driven the growth of an automotive wiring harness market. For instance, according to India Brand Equity Foundation, in January 2020, Tata AutoComp Systems, an automotive component manufacturer has partnered with Beijing-based Prestolite Electric, to enter into the electric vehicle components market in India.
In an extreme weather condition, the wiring harness system of a vehicle may get affected due to an overheating issue, this may result in a replacement of the entire wiring harness system, which is very expensive and is expected to hamper the growth of the automotive wiring harness market over the forecast period.
Market Taxonomy
This report segments the global automotive wiring harness market on the basis of component, material type, propulsion system, and region. On the basis of Component, the global automotive wiring harness market is segmented into connectors, wires (general wires, heat resistant wires, shielded wires, and tubed wires), and terminals. On the basis of Material type, the global automotive wiring harness market is segmented into metallic wiring (copper and aluminum), and optical wiring (glass optical fiber and plastic optical fiber). On the basis of Propulsion system, the global automotive wiring harness market is segmented into IC engine vehicles and electric vehicles (plug-in hybrid electric vehicle (PHEV), hybrid electric vehicle (HEV), and battery electric vehicle). On the basis of Region, global automotive wiring harness market is segmented into North America, Latin America, Europe, Asia pacific, Middle East, and Africa.
Key features of the study:
Detailed Segmentation:
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