Automotive wiring harness market size to grow by USD 12,286.48 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Dec. 8, 2022 /PRNewswire/ — Technavio categorizes the global automotive wiring harness market as a part of the automotive components and accessories market, the parent market. The automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles such as passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. The global automotive wiring harness market size is estimated to increase by USD 12,286.48 million from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 4.68%.

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Global automotive wiring harness market – Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

Global automotive wiring harness market – Vendor analysis

Vendor landscape – The global automotive wiring harness market is fragmented. The prominent vendors operating in the market are involved in the development and manufacturing of wiring harnesses for automotive applications. A few prominent vendors that offer automotive wiring harnesses in the market are Aptiv, Assembly Solutions Ltd., Coroplast Fritz Muller GmbH & Co. KG, Cypress Holdings Ltd. dba Cypress Industries, Eugen Forschner GmbH, Fritz Draxlmaier GmbH & Co. KG, Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Kromberg & Schubert Automotive GmbH & Co. KG, and others.

Vendors in the market are offering wiring harnesses for different applications in automobiles. Some of the common areas of applications are chassis, engine, transmission, and braking systems. Prominent vendors are focusing on improving the reliability and lifecycle of wire harnesses due to stringent regulatory requirements. In addition to international vendors, the market has regional and local vendors as well, which cater to the requirements of regional or local customers.

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Vendor offerings –

• Aptiv: The company offers automotive wiring harnesses with robust and innovative connection systems that help in optimizing the cost and performance of the entire electrical system.

• Fujikura Co. Ltd.: The company offers automotive wiring harnesses for transmitting power and signals to electric equipment in vehicles.

• Furukawa Electric Co. Ltd.: The company offers automotive wiring harnesses for automobiles to bundle multiple electric wires together.

• Kromberg & Schubert Automotive GmbH & Co. KG: The company offers automotive wiring harness for motorbikes and utility vehicles.

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Global automotive wiring harness market – Segmentation assessment

Geography Overview

Based on geography, the global automotive wiring harness market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global automotive wiring harness market.

• APAC will account for 54% of the global automotive wiring harness market growth during the forecast period. The market in the region is estimated to grow at the fastest pace. In emerging markets such as India and Indonesia, M&HCV OEMs are equipping their vehicles with systems such as ABS, electrically adjustable outside rear-view mirrors, HVAC systems, and auto-dimming mirrors. These factors are expected to increase the demand for wiring harnesses, which, in turn, will contribute to the growth of the market in the region.

Segment overview

Based on application, the global automotive wiring harness market is segmented into chassis, engine, HVAC, sensors, and body.

• The market share growth of the chassis segment will be higher than the other segments 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 premium or luxury-segment vehicles.

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Global automotive wiring harness market – Market dynamics

• Leading driver – The increasing demand for battery electric vehicles (BEVs) is driving the market growth. Automotive electronics have become an integral part of automobiles due to technological innovations and developments in the automotive industry. The growing focus on fuel efficiency, the reduction of vehicular emissions, and the increasing demand for advanced safety systems have increased the use of automotive electronics. Automotive electronics are core components of various onboard systems, such as sensors, ECUs, and wiring harnesses. These factors will contribute to the revenue generation of the market during the forecast period.

• Key trend – Advances in autonomous vehicles are a key trend in the market. R&D activities related to autonomous vehicles have grown significantly, and self-driving vehicles are expected to be commercially viable soon. Thus, developments in autonomous vehicles will enable the growth of the market. Autonomous vehicles require advanced wiring harnesses owing to the use of advanced electronics. Therefore, the growing developments in autonomous vehicles and the shift toward self-driving vehicles will support the market’s growth during the forecast period.

• Major challenge – Declining sales of automobiles are challenging the market growth. This decline is attributed to several factors, such as trade tensions between the US and China. Inflation, supply chain issues, COVID-19 cases, and a shortage of semiconductor chips are also hindering the market’s growth. In emerging markets such as India, poor consumer buying behavior and the growing popularity of car-sharing have hampered the sales of automobiles. Therefore, the decline in automobile sales will challenge the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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 parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the automotive wiring harness market across APAC, North America, Europe, Middle East and Africa, and South America

• 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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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Vehicle Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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