The global Automotive Wiring Harness market is projected to grow from USD 47.0 billion in 2021 to USD 57.4 billion by 2026, at a CAGR of 4.1% during the forecast period. Increasing vehicle production, increase in demand for advanced features in vehicles, and growing penetration of electric vehicles are the major factors driving the growth of the automotive wiring harness market.
Manufacturers are introducing AR dashboards that require more wiring harnesses. The passenger car automotive wiring harness market in the body & lighting harness application is anticipated to grow from USD 9,436.3 million in 2021 to USD 12,016.0 million by 2026, at a CAGR of 5.0%.
The use of aluminum in automotive wiring harnesses with gold plating helps enhance data transmission and reduce weight and costs. For instance, in October 2021, Furukawa Electric developed aluminum wires in wiring harnesses, which are used in Toyota Boshoku seats and fitted in the new Toyota Land Cruiser 300. The wiring harnesses in seats use aluminum electrical wire in 115 of 152 circuits (an aluminum adoption rate of 75%), reducing weight by 44%.
The growing demand for premium vehicles is expected to increase the automotive wiring harness demand. This is because vehicle electrification and more advanced features would lead to more usage of connectors and electronics in the vehicle for its various functions. This is expected to drive growth for the automotive wiring harness market globally. Premium vehicle technologies are becoming affordable with time. These vehicles use electronic control units and other electronics that completely enhance the requirement of automotive wiring harnesses, thereby driving its market.
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The increase in vehicle sales and manufacturing of mid-size premium vehicles have fueled the demand for automotive wiring harnesses. The rising electrification in vehicles and technological advancements are also expected to drive the automotive wiring harness market. Due to the presence of advanced technologies and features, premium vehicles have 40–50% more wiring harnesses than the economy segment. Increased demand has encouraged the manufacturers of automotive wiring harness to offer advanced wiring harness that helps in all automotive applications.
The chassis harness segment is estimated to lead the market, in terms of value, during the forecast period due to higher demand for automotive wiring harnesses in chassis applications such as frame, air brake pump, suspension systems, and others.
The market in the Asia Pacific region is projected to be the largest. The Asia Pacific region comprises the China, India, Japan, South Korea, Thailand, and Rest of Asia Pacific. The increase in demand for electric vehicles and premium segment vehicles in China, India, and Japan has also contributed to the growth of the wiring harness market in this region. The increasing number of electronic features in vehicles is expected to boost the growth of the automotive wiring harness market.
The growth of the China market can be attributed to a large vehicle production in the country. China is the world’s largest vehicle manufacturer. Thus, the market for automotive wiring harnesses in China is estimated to grow at a high rate. OEMs based in China are focusing on the adoption of lightweight materials for wiring harnesses.
In the past few years, the Asia Pacific region has experienced an increase in demand for luxury vehicles. The luxury/premium segment vehicles are equipped with advanced body electronic functions that require additional automotive wiring harnesses for proper functioning. Asia Pacific is home to major wiring harness companies such as Sumitomo Electric Industries (Japan), Yazaki Corporation (Japan), Fujikura Ltd (Japan), Furukawa Electric (Japan), and Samvardhana Motherson Group (India).
Key Players:
Automotive wiring harness is a consolidated market where top 5 players contribute to 45–55% of the market. Yazaki Corporation (Japan), Sumitomo Electric Industries (Japan), Aptiv PLC (Ireland), Furukawa Electric (Japan), and Leoni AG (Germany) are the prominent players in the automotive wiring harness market.
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