Automotive Wiring Harness Market

Global Automotive Wiring Harness Market (2024 to 2029)

The global automotive wiring harness market is expected to be valued at USD 54.49 billion in 2024 and USD 67.25 billion by 2029, growing at a CAGR of 4.3% from 2024 to 2029.

The automotive wiring harness is considered an assembly of different parts of a vehicle that transmits power and data. It was developed out of the need for minimized wiring, the simplicity of the activity in the handling of various electronic devices, and the insurance against vibrations and abrasion. It involves significant work in transmitting data on vehicle activity, transmitting and obtaining the sensor signal, and power supply. Wire harnesses are minimally packaged cables and information circuits that function like the focal structure of a vehicle. The wire harness is the channel for the transmission of these signs and the electrical force.

Global Automotive Wiring Harness Market Drivers:

The global automotive wiring harness market is spurred by the rapid development of the automotive industry deductible from several updated mechanically powered vehicle highlights. There is a strong rivalry between car manufacturers to create vehicles with different security strengths and electronic devices. Compared to traditional wiring methods, the automotive wiring harness provides safe and reliable connections between such devices. In addition, the adoption of these wiring harness systems improves the energy efficiency of the car and complies with current government directives on the use and discharge of fuel. This advantage is likely to propel international market growth.

To ensure safety and basic capabilities, in addition to providing comfort and convenience, cars are equipped with different electronic components and electronic frames, which use electric force control signals emitted by the battery. With the reliable escalation of incidents in the country, buyers and the government are reporting high demands for advanced security features and are focusing on improving the security frameworks of their vehicles, which should boost the market for bundles of cables in the locale.

Global Automotive Wiring Harness Market Restraints:

Additionally, overheating or shortening the wiring harness in areas subject to severe weather conditions, such as rain and snow, increases replacement costs, limiting the growth of this market.

Impact Of COVID-19 on the automotive wiring harness market:

As a part, the financial health of car providers was peripheral even before the COVID-19 emergency. Of the biggest traded on an open market car provider, about totally had encountered year-over-year decreases in working benefits in the year prior to the pandemic. Moreover, the greater part of providers don't seem to have enough money and other current resources (without tapping extra-long haul financing or making other liquidity-upgrading moves) to cover their monetary commitments for over 120 days.

This would not be an issue under typical conditions, yet it can prompt close-term liquidity pressure as OEM manufacturing shutdowns turn off incomes. This weight will probably bring the dissolvability of powerless providers into question, especially as emergency delays occur. Going into the emergency, approximately 33% of providers either had FICO scores underneath venture grade or were at that point in the "peril zone," as indicated by regular factual proportions. As the emergency maneuvers all providers into a progressively tricky money-related position, they ought to adjust and work contrastingly for years to come.

The main goal is to guarantee the health and security of workers and to connect all partners – from clients to investors to governments. This must accompany an unmistakable spotlight on the current money position of the organization and how it could advance dependent on "What if?" recuperation situations, including both volume estimates and key presumptions, for example, innovation entrance just as OEM and area explicit recuperation ways.

REPORT COVERAGE:

This research report on the global automotive wiring harness market is segmented and sub-segmented based on vehicle, application and region.

Global Automotive Wiring Harness Market - By Application:

• Body Wiring Harness
• Engine Wiring Harness
• Chassis Wiring Harness
• HVAC Wiring Harness
• Sensors Wiring Harness

The growing interest in high-speed information transfer by automakers is spurring the market for automotive wiring cables. Copper may not be sufficient for the purposes of future functions and progress. Fiber optic cables have a relatively higher speed than copper and other materials. Furthermore, with the increasing penetration of luxury and autonomous vehicles, interest in fiber optics is expected to increase further as these cars are introduced with advanced features that require high-speed information transfer.

Global Automotive Wiring Harness Market - By Vehicle:

• Two Wheelers
• Passenger Cars
• Commercial Vehicles

Global Automotive Wiring Harness Market – By Region:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

Eastern Europe and North American countries, for example, Mexico and Canada still have the potential market due to the expansion of automobile manufacturing capacity and the commissioning of the remaining automotive assembly factories. In Europe, the market is expected to reach maturity, as most cars have electronic components and increased safety. In Western Europe, Germany is expected to dominate the automotive wiring harness market. Asia-Pacific is expected to undergo significant development in the automotive wiring harness market. In addition, there is increased interest in automotive access control in the Asia-Pacific. Passenger vehicle security has become increasingly important in recent years as customers begin to use advanced features, for example, keyless entry, immobilizer, stolen car assistance, and alarms. The growing penetration of luxury cars should spark interest in the Asia-Pacific wiring harness market.

KEY MARKET PLAYERS:

Some of the major players in the automotive wiring harness market include Sumitomo Electric Industries (Japan), Yazaki Corporation (Japan), Aptiv PLC (Ireland), Leoni AG (Germany) and Furukawa Electric (Japan).

RECENT HAPPENINGS IN THE MARKET:

• Automotive wiring is undergoing an architectural revolution. The electronics in cars have expanded exponentially, causing more than 150 pounds of wiring in a lone vehicle, all hand-picked, so far. As vehicles increase in complexity, another wiring paradigm is needed.
• The traditional high-voltage wire harness for HEV is made up of plastic cables and protectors. In light of the reduced heat transfer from the plastic protector, the estimated larger wire is needed for the high voltage wire harness to decrease Joule's heat unhappiness. Also, a higher design price and a long lead time are needed to create the shape of a new or modified protector. Manufacturers have built the wiring harness to shield the pipes to avoid these problems. The hose shield wire harness is currently manufactured on a large scale for Honda CIVIC HYBRID, INSIGHT, CR-Z and FIT HYBRID, etc.