Global Automotive Wiring Harness Market By Component (Electric Wires, Connectors, Terminals, And Other Components), By Application (Plastics, Inks, and Coatings), By Electric Vehicle (Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)), By Vehicle Outlook (Light Vehicle, Heavy Vehicle), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Automotive Wiring Harness Market Overview:

In 2021, the Automotive Wiring Harness Market was worth USD 5,898.5 million, growing at a 6.8% CAGR during the forecast period.

Market growth has been positively affected by the increasing combination of electronic components in vehicles to enhance advanced safety features in vehicles and other advanced features. These electronic systems can be integrated into vehicles for many benefits, including better fuel efficiency, increased performance, and a low chance of an electrical power shortage. This market trend report gives an overview of the Automotive wiring harness market growth opportunities, actual market size, and other major factors. The demand for vehicles has increased in the year 2022. This market report gives an overview of the automotive wiring harness market value, growth, size, and other key factors.

Global Automotive Wiring Harness Market Scope:

Application Analysis

For several components, such as headlamps, fog lamps, infotainment systems, fuel pads, and turn indicators, Automotive Wiring Harness Markets are used in chassis harnesses. The chassis segment represented over 30% of the total market in 2021 and is expected to grow at a rapid pace from 2023 to 2032.

The sensors segment is expected to record the maximum CAGR of 7.1% owing to its rising use in technologically-updated vehicles, which include frequent systems such as security systems and safety systems, infotainment systems, lighting systems, and battery systems.

Electric Vehicle Analysis

Based on electric vehicles, the Automotive Wiring Harness Market trend is split into plug-in hybrid electric cars (PHEVs) or battery electric vehicles. In 2021, the BEVs segment held the main share and is expected to grow at the highest CAGR. This can be explained by increased government inducements, an expanding charging infrastructure, and falling battery prices. From 2023 to 2032, Automotive Wiring Harness Market sales are expected to rise due to the increased adoption of BEVs. Over the forecast period, the segment of plug-in hybrid electric cars is expected to grow moderately.

Component Analysis

The market is divided into components, such as electric wires and terminals, and connectors. Protectors, grommets, and clamps are all part of the other segment. In 2021, the terminal segment held the largest market share and is expected to grow at a faster rate during the estimated period. The ongoing forecast period will see a significant increase in sales of automotive industry terminals due to the increasing adoption of advanced vehicle technologies like self-driving cars and connected cars.

Vehicle Analysis

Light vehicle segments accounted for the largest share of the market and are expected to show the maximum CAGR over the forecast period. Light vehicles are economical and are primarily used to transport goods and travelers. From 2021 to 2032, the heavy vehicle segment will also grow significantly. This is due to increased government investment in public transport and increasing construction and manufacturing of vehicles in emerging markets. China is the world’s largest automotive manufacturer. It is projected that 15% of vehicle sales will the end of 2026.

Key Market Segments:

Component:

• Electric Wires
• Connectors
• Terminals
• Other Electronic Devices

Application:

• Body
• Chassis
• Engine
• HVAC
• Sensors

Electric Vehicle Type:

• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

Vehicle Outlook:

• Light Vehicle
• Heavy Vehicle

Market Dynamics:

The automobile manufacturers have increased production of automobiles directly correlates with the sale of Automotive Wiring Harness markets. Increased disposable income, government initiatives like Make in India, and low labor costs in countries like China and India have all contributed to an increase in the production of passenger cars and the light production of vehicles in emerging economies. This is driving the sales of Automotive Wiring Harness bundle markets.

Another important key trend driving market growth is the rising adoption of electric cars (EVs). This is due to the expansion of EV charging infrastructures, rising fuel prices, favorable government policies, and environmental regulations.

Despite technological advances in automotive assembly line manufacturing, cable harnesses are still made by hand or semi-automatically for certain operations. Many OEMs are working to overcome this problem by building new manufacturing plants with automated machines that can manufacture automotive wire harnesses in low-labor countries like India and Japan.

Regional Analysis:

In 2021, Asia Pacific was responsible for 40.5% of the global market. This is due to the increasing importance of road infrastructure and rising automotive manufacturing in developing countries like India and China. Sales are also increasing due to the growing demand for mid-segment commercial vehicles with enhanced safety and suitability features and low labor costs.

Over the forecast period, Europe is expected to experience a CAGR of 6.0%. Europe is expected to see an increase in automobile production and innovation in driving technologies. Electric vehicles are also being adopted more frequently. The key driver of the regional market is the expansion of manufacturing facilities in Africa and the Middle East, which are aided by low-cost labor.

Key Regions and Countries covered in the report:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Market Players Analysis:

This market is highly competitive with major players like Sumitomo Electric Industries, Ltd., Yazaki Corporation, Leoni AG, Lear Corporation, Furukawa Electric Co., Ltd., and Yazaki Corporation. However, OEMs will be able to maximize their profits through low-cost labor countries sourcing.

OEMs are also focusing on strategic alliances, mergers, and acquisitions in order to increase their industry exposure and expand their manufacturing presence. Motherson Sumi Systems Ltd. purchased PKC Group Plc in 2021 for US$ 665.5 million. The company is expected to be stronger in areas such as Europe, Asia Pacific, and the Americas.

Market Key Players:

Here are the Key Companies in the Аutоmоtіvе Wіrіng Наrnеѕѕ Маrkеt,

• Aptiv PLC
• Sumitomo Electric Industries Ltd.
• Yazaki Corporation
• Leoni AG
• Lear Corporation
• Furukawa Electric Co. Ltd.
• Coroplast
• THB Group
• Fujikura Ltd
• Samvardhana Motherson Group
• Yura Corporation
• Nexans autoelectric Gmbh
• Delphi Automotive PLC
• COROPLAST FRITZ MULLER GMBH & CO.
• ADAPTRONIC PRUFTECHNIK GMBH
• Other Key Players