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AU20113015 |
Pages: 290 |
Oct 2023 |
Automotive Wiring Harness Overview
An automotive wiring harness, also known as a cable harness or wiring loom, is a bundled arrangement of electrical wires, connectors, and terminals utilized in vehicles. It acts as the central nervous system of a vehicle's electrical system, connecting distinctive electrical components and devices to its power source. The essential purpose of an automotive wiring harness is to provide a reliable and organized means of transmitting electrical power. It signals to different parts of the vehicle, including the engine, lights, sensors, dashboard controls, and entertainment systems. It ensures efficient and safe electricity flow, minimizing the risk of electrical failures and malfunctions. Automotive wiring harnesses consist of multiple wires bundled together, color-coded, and labeled for easy identification and connection. They are designed to withstand the harsh automotive environment. They are routed and secured within the vehicle's structure to protect them from damage. Customized for specific vehicle models, wiring harnesses simplify the wiring process, improve reliability, and ensure the proper functioning of a vehicle's electrical system.
Global Automotive Wiring Harness Market Analysis
The global automotive wiring harness market size was $48,721.65 million in 2022 and is predicted to grow at a CAGR of 5.2%, by generating a revenue of $78,581.19 million by 2032.
COVID-19 Impact on Global Automotive Wiring Harness Market
The COVID-19 pandemic has significantly impacted the automotive wiring harness market. Disruptions in the global supply chain due to lockdown measures and travel restrictions led to delays in production and distribution, causing shortages of automotive wiring harnesses. Additionally, automakers' temporary suspension or reduction of vehicle production to ensure safety and comply with government guidelines decreased the demand for wiring harnesses. Fluctuations in consumer demand, economic uncertainties, and changes in consumer behavior further influenced the market.
However, the pandemic also accelerated trends, such as the increased demand for electric and autonomous vehicles. This led to the need for specialized wiring harnesses. As economies reopen and vaccination efforts progress, the automotive industry, including the wiring harness market, is gradually recovering. However, the pace of recovery varies across regions, and the market prospects depend on factors like economic recovery, technological advancements, and regulatory developments in the automotive industry.
Increasing Vehicle Production to Drive the Market Growth
automotive wiring harness market is driven by several key factors. First, the increase in vehicle production, particularly in rising markets, directly impacts the demand for wiring harnesses. Secondly, technological advancements in the automotive industry, such as the high demand for electronic system integration and more complex wiring, contribute to market growth. The growing popularity of electric vehicles (EVs) is additionally playing a vital role. EVs require special wiring harnesses to handle the high-voltage system and power distribution. In addition, the growing trend towards vehicle electrification with advanced safety systems and infotainment features has increased the demand for wire harnesses. industry's focus on lightweight and eco-friendly solutions also influences the market, with manufacturers developing lighter materials and designs. The aftermarket segment contributes to market growth by replacing and repairing wiring harnesses. Advancements in automation and robotics improve production efficiency and quality. At the same time, the global expansion of automotive manufacturers leads to increased demand in new regions.
Increasing Vehicle Electrification to Restrain the Market Growth
The automotive wiring harness market faces several restraining factors. One major challenge is the increasing trend of vehicle electrification. As the automotive industry transitions to electric and hybrid vehicles, manufacturers must develop new wiring designs and structures to meet higher voltage and power requirements. This transition is costly and time-consuming and can hinder market growth. Technological advances such as autonomous driving and advanced driver assistance systems pose challenges. These advanced features require advanced cabling to accommodate the growing number of sensors and electronic components, increasing costs. It can lead to ascent and complication. Wiring harnesses contribute to a significant portion of the manufacturing cost, making it challenging to balance cost-effective solutions without compromising safety and performance. The automotive wiring harness market is also affected by supply chain complexities, including sourcing components and materials from multiple suppliers, which can lead to disruptions and inconsistencies. Regulatory and safety requirements impose strict standards on wiring harnesses, increasing complexity and costs.
Advanced Driver Assistance Systems (ADAS) to Drive Excellent Opportunities
The automotive wiring harness market presents several opportunities for growth and development. One key opportunity is advanced driver assistance systems (ADAS). ADAS technologies, such as collision avoidance systems, lane departure warning systems, and flexible cruise control, are becoming more common in vehicles. These systems use advanced wire harnesses to connect sensors, cameras, and controllers. The growing integration of ADAS in vehicles creates opportunities for the automotive wiring harness market. Moreover, the growing trend of vehicle connectivity and the rise of connected cars drive the demand for wiring harnesses that support communication technologies. The development of autonomous vehicles further expands the market, as these vehicles require intricate wiring networks to connect sensors and components. In addition, efficient and lightweight wiring solutions are needed to reduce vehicle weight and improve fuel efficiency. The growth of the automotive industry in emerging markets offers manufacturers more opportunities to penetrate these regions and customize their products accordingly.
Global Automotive Wiring Harness Market Share, by Component, 2022
The terminals sub-segment accounted for the highest market share in 2022. Terminals have exerted a significant influence on the automotive wiring harness market. By ensuring reliable electrical connections, terminals have become integral components within the wiring harnesses that link various vehicle components. Standardization of terminal designs, sizes, and specifications across the automotive industry has facilitated compatibility and interchangeability, streamlining manufacturing processes and reducing costs. As vehicles increasingly incorporate advanced electronics, terminals have played a crucial role in managing and organizing complex wiring connections. Furthermore, terminals' durability and safety features, designed to withstand harsh automotive environments, have ensured long-term reliability. With ongoing technological advancements in the automotive sector, specialized terminals have emerged to accommodate the high voltages, currents, and communication protocols associated with advanced driver-assistance systems (ADAS) and electric vehicles (EVs).
Global Automotive Wiring Harness Market Share, by Application, 2022
The chassis sub-segment accounted for the highest market share in 2022. The chassis serves as the skeleton or frame of the vehicle and has a significant impact on the automotive wiring harness market. Chassis does not dominate this market directly, but the wires, a key component of the vehicle's electrical system, play an important role in the design and installation of harnesses. The chassis provides the structure and layout for various vehicle components, including the wiring harness, enabling efficient integration and proper placement. It also offers physical protection and support to the wiring harness, safeguarding it from external elements and ensuring its durability and reliability. Furthermore, the chassis determines the routing paths for the wiring harness throughout the vehicle, affecting accessibility, maintenance, and overall efficiency. Weight and space optimization is also influenced by the chassis design, as it impacts the available space for the wiring harness, allowing for effective utilization and reducing overall weight and complexity. Lastly, the chassis contributes to safety and compliance by maintaining proper grounding and electrical isolation, aligning with industry regulations.
Global Automotive Wiring Harness Market Share, by Electric Vehicle, 2022
The battery electric vehicle (BEV) sub-segment accounted for the highest market share in 2022. Battery electric vehicles (BEVs) dominate the automotive wiring harness market due to several key factors. The global shift to electrification and sustainability is increasing demand for BEVs that rely solely on electricity. BEVs have complex electrical systems, including high-voltage battery packs, electric motors, and advanced features that require extensive wiring harness networks for safe and reliable operation. Compared to conventional vehicles, BEVs need a higher quantity and complexity of wiring harnesses, as they lack a combustion engine. These specialized wiring harnesses are designed to handle high currents and voltages, contributing to the market's growth. BEV manufacturers also focus on weight reduction and space efficiency, leading to the development of lightweight and compact wiring harness solutions. Technological advancements, such as alternative materials and manufacturing processes, further drive innovation in BEV-specific wiring harnesses.
Global Automotive Wiring Harness Market Share, by Vehicle, 2022
The light vehicles sub-segment accounted for the highest market share in 2022. Light vehicles are a major force in the automotive wiring harness market for a number of reasons. First, the global demand for light vehicles such as passenger cars and small trucks has expanded significantly. Factors such as population growth, urbanization, rising expendable salary, and increasing living standards have contributed to this surge in demand. As a result, the production and sales of light vehicles surged, and the market share of wire harnesses in this field expanded. Second, key cars are at the forefront of technological progress in the automotive industry. These include advanced features and electronic systems such as infotainment, driver assistance, navigation and connectivity solutions. The integration of these technologies necessitates sophisticated wiring harnesses to ensure reliable and efficient communication between various components. Thus, light vehicles require more complex and intricate wiring harnesses, further solidifying their dominance in the market. Lastly, the intense competition in the automotive industry drives manufacturers to focus on light vehicles due to their high demand and consumer appeal.
Global Automotive Wiring Harness Market Share, by Region, 2022
The Asia-Pacific automotive wiring harness market generated the highest revenue in 2022. Asia Pacific has emerged as a dominant force in the automotive wiring harness market due to several key factors. First, the region's solid automotive industry, led by nations such as China, Japan, South Korea, and India, is boosting the demand for wire harnesses. Secondly, the cost advantages offered by Asian nations in terms of labor and raw material sourcing are driving worldwide automakers to set up manufacturing facilities in the region, further driving market development. Thirdly, the Asia-Pacific region has built a robust supply chain network for automotive components, including wiring harnesses, ensuring efficient production and timely delivery. Moreover, the technological expertise of Asian countries has enabled them to develop advanced wiring harnesses that meet industry demands, while government initiatives and policies have fostered a favorable business environment.
Competitive Scenario in the Global Automotive Wiring Harness Market
Investment and agreement are common strategies followed by major market players. One of the leading market players in the industry is Leoni AG. May 2022: Leoni AG signed an agreement to sell its automotive cables business to Bangkok-based Stark Corporation Public Company Limited for an undisclosed amount. The businesses generated USD 1.31 billion in revenues for Leoni AG in 2021.
Some of the leading automotive wiring harness market players are Delphi Technologies PLC (Aptiv PLC), Furukawa Electric Co., Ltd., Kromberg & Schubert GmbH Cable & Wire, LEONI AG, Lear Corporation, PKC Group, Sumitomo Electric Industries, Ltd., Spark Minda, Ashok Minda Group, China Auto Electronics Group Limited (THB Group), and Yazaki Corporation.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Component |
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| Segmentation by Application |
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Segmentation by Electric Vehicle
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| Segmentation by Vehicle |
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| Key Companies Profiled |
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