Automotive Wiring Harness Market by Application (Engine, Dashboard/Cabin, Body & Lighting, Airbag, HVAC, Battery), Propulsion, Vehicle (PC, LCV, Buses, Trucks), EV type, Component (Connectors, Wires, Terminals), Material, and Region - Global Forecast to 2025
“Rising trend of integrating advanced features for improving performance and driving experience and the increasing vehicle production are likely to fuel the demand for automotive wiring harness market”
The automotive wiring harness market is estimated to be USD 81.17 billion in 2018 and is projected to grow at a CAGR of 5.83% during the forecast period, to reach a market size of USD 120.69 billion by 2025. Most of the consumers are now demanding advanced safety, comfort, and convenience features, which largely influence their purchase decisions. The rising trend of integrating advanced convenience features in vehicles is driving the growth of the wiring harness market. However, the high cost of advanced technology is expected to inhibit the growth of the automotive wiring harness market.
“The Dashboard/Cabin application is estimated to be the largest segment of the automotive wiring harness market in terms of volume”
The dashboard/cabin application is estimated to be the largest segment, by volume, of the automotive wiring harness market from 2018 to 2025. The growth of this segment can be attributed to the rise in trend of integrating advanced features to enhance safety, comfort, and convenience in vehicles.
Wiring harness acts as the nervous system of the vehicle and transmits energy and information for the smooth functioning of electronic devices installed in the vehicle. Rising installation rate of high-end electronics and safety features in light and heavy vehicles along with an increase in global vehicle production is expected to fuel the growth of automotive wiring harness market.
“The Electric Vehicle is the fastest growing segment of automotive wiring harness market”
The EV segment is estimated to be the fastest growing segment, by volume as well as value, of the automotive wiring harness market during the forecast period. The growing environmental concerns, rising fossil fuel prices, and stringent government regulations for emission have accelerated the growth of the EV market. The market players such as Tesla (US), Waymo (US), BMW (Germany), Volvo (Sweden), GM (US), Toyota (Japan), and Renault-Nissan Corporation (Netherlands) have already introduced various EVs in the market. In addition, these manufacturers are consistently improving their technology with a strong focus on R&D.
“Asia Pacific is projected to be the largest automotive wiring harness market, in terms of volume and value, by 2025”
The Asia Pacific is projected to be the largest market for automotive wiring harness by 2025. Increase in disposable income in developing countries such as India and China and rising demand for premium cars as well as advanced features in the vehicles are the key growth drivers for the market in this region. The North American region is estimated to be the second largest market for automotive wiring harness market. With one of the largest markets for premium segment vehicles, North America is expected to witness substantial growth in the automotive wiring harness market. Also, the demand for additional safety and convenience features in mid-segment vehicles is increasing exponentially in the region. These factors are expected to fuel the growth of the automotive wiring harness market in the North American region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from wiring harness providers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier-1-45%, Tier-2-35%, and Tier 3-20%
By Designation: C level-35%, D level-25%, Others-40%
By Region: North America-40%, Europe-30%, Asia Pacific-25%, RoW-5%
The report provides detailed profiles of the following companies:
Samvardhana Motherson (India)
The report covers the automotive wiring harness market by region (Asia Pacific, Europe, North America, and the Rest of the World), application (Engine, Dashboard/Cabin, Body & Lighting, Chassis, HVAC, Battery, Airbag, Seat, Door, and Sunroof), material type (Copper, Aluminum, and others), vehicle type (Passenger cars, LCVs, Trucks, and Buses), component type (Wires, Connectors, Terminals, and Others), electric vehicle type (BEV, HEV, PHEV, and FCEV), and propulsion (ICE and EVs).
Reasons to Buy the Report:
The report provides insights into the following points:
Market Penetration: The report provides comprehensive information on automotive wiring harness market and the top players in the industry.
Market Development: The report provides comprehensive information on various technologies of automotive wiring harness. The report analyzes the markets for various automotive wiring harness technologies across different countries.
Market Diversification: The report provides exhaustive information about emerging technologies, recent developments, and investments in the global automotive wiring harness market.
Competitive Assessment: The report offers an in-depth assessment of strategies, services, and manufacturing capabilities of leading players in the global automotive wiring harness market.
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