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Evolving Market Trends In The Automotive Wiring Harness Industry: Innovations In Wireless Technology Revolutionize The Automotive Wiring Harness Market
Automotive Wiring Harness
What Is the Expected Automotive Wiring Harness Market Size During the Forecast Period?
Recent years have observed a consistent expansion in the automotive wiring harness market size. This market growth is set to increase from a value of $60.43 billion in 2024 to $63.44 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%. Factors such as regulatory edicts, spiking passenger car sales, broader economic growth, and government backing have contributed to this historic surge.
In the upcoming years, the automotive wiring harness market is projected to experience robust growth, escalating to a value of $77.58 billion in 2029, with a compound annual growth rate (CAGR) of 5.2%. The upswing in the prediction period is linked to the amplified focus on vehicle safety, an uptick in vehicle sales, an increase in connected vehicles, urbanization growth, and a rise in disposable income. The forecast period is set to be dominated by trends such as the use of eco-friendly materials, the integration of 5g, improved thermal management, the adoption of modular and scalable designs, along with an increase in collaborations and partnerships.
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What Are the High-Growth Segments in the Automotive Wiring Harness Market?
The automotive wiring harness market covered in this report is segmented -
1) By Component Type: Wires, Connectors, Terminals, Other Components
2) By Material Type: Copper, Aluminum, Other Materials
3) By Harness Type: Main Harness, Auxiliary Harness, Other Types
4) By Vehicle Type: Two Wheelers, Passenger Cars, Commercial Vehicles
Subsegments:
1) By Wires: Copper Wires, Aluminum Wires, Shielded Wires
2) By Connectors: Standard Connectors, Waterproof Connectors, High-Voltage Connectors
3) By Terminals: Crimp Terminals, Solder Terminals, Insulated Terminals
4) By Other Components: Cable Ties, Heat Shrink Tubing, Protective Sleeves, Junction Boxes
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What Key Drivers Are Expected to Influence Future Automotive Wiring Harness Market Growth?
The automotive wiring harness market is experiencing substantial growth due to the rising demand for and use of hybrid and electric vehicles. These wiring harnesses, designed for hybrid vehicles, stand out due to their ability to work effectively in harsh conditions, transmitting high currents and withstanding high heat and electromagnetic noise no matter how extreme the circumstances. In 2024, Kelley Blue Book, part of American Cox Automotive, reported that in 2023, there was a new record of 1.2 million American car consumers opting for electric vehicles. This represented 7.6% of the total U.S. automobile market, a jump from 5.9% the year before. As demand for electric and hybrid vehicles is projected to increase, so too will demand for automotive wiring harnesses, thus propelling the advancement of the automotive wiring harness market in the forecasted period.
Which Companies Hold the Largest Share Across Different Automotive Wiring Harness Market Segments?
Major companies operating in the automotive wiring harness market include Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Nexans, DELPHI AUTOMOTIVE LLP, Lear Corporation, SAMVARDHANA MOTHERSON GROUP, Yura Corporation d.o.o., Fujikura Automotive, PKC Group PLC., Coroplast Fritz Muller GmbH & Co. Kg, Motherson Sumi Systems Limited, Quingdao Sanyuan Group, Kyungship Corporation, Kromberg & Schubert, Jiangsu Kyungshin Electronic Co. Ltd, Brascabos Electrical Electronic Components, Cypress Industries, Dräxlmaier Group, Gebauer & Griller Group, General Cable Technologies Corporation, BorgWarner Inc., TE Connectivity Ltd, Spark Minda Group, Samvardhana Motherson Reflectec, THB Group Inc., K&S Wiring Systems, Hirschmann Car Communication GmbH, Minda Automotive Solutions Ltd.
What Trends Are Driving Growth in The Automotive Wiring Harness Market?
The key trend that companies in the automotive wiring harness market are currently pursuing is technological advancement. The primary focus of these firms is the production and implementation of smaller, space-saving wiring harnesses. For example, in May 2022, Marelli, a US-based firm that develops and manufactures components for the automotive sector, launched its Wireless Distributed Battery Management System (wBMS) specifically designed for electric vehicles. This system facilitates communication between the battery and the control unit using wireless technology. It effectively eliminates the need for daisy-chain communication and associated wiring, significantly simplifying battery cell construction and installation. This leads to a 90% reduction in the wiring harness and provides greater flexibility in placing battery modules.
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What Are the Emerging Geographies for The Automotive Wiring Harness Market Growth?
Asia-Pacific was the largest region in the automotive wiring harness market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive wiring harness market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Wiring Harness Market?
2. What is the CAGR expected in the Automotive Wiring Harness Market?
3. What Are the Key Innovations Transforming the Automotive Wiring Harness Industry?
4. Which Region Is Leading the Automotive Wiring Harness Market?
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