Automotive Wiring Harness Market Size to grow by USD 13.15 billion between 2024-2028
According to a research report “ Automotive Wiring Harness Market” by Vehicle Type (Passenger vehicles, Commercial vehicles) Application (Chassis, Engine, HVAC, Sensors, Body) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 13.15 billion, at a CAGR of 4.83% during the forecast period. The global automotive wiring harness market is experiencing significant growth due to the increasing integration of electronics in automobile manufacturing. Over the past decade, the automotive industry has witnessed a surge in the adoption of electronic components and software, leading to an escalating demand for automotive wiring harnesses. In response to market competition, automotive original equipment manufacturers (OEMs) are incorporating distinctive features in vehicles, driving the need for advanced wiring harness systems. The incorporation of advanced driver-assistance systems (ADAS) such as lane assist, blind spot detection, adaptive cruise control, electronic stability control, speed assist systems, and park assist systems is increasing, leading to a substantial increase in the number of electronic components per vehicle. Consequently, the demand for automotive wiring harnesses is anticipated to surge during the forecast period..
Browse market data tables, figures, and in-depth TOC on “Automotive Wiring Harness Market” by Vehicle Type (Passenger vehicles, Commercial vehicles) Application (Chassis, Engine, HVAC, Sensors, Body) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Vehicle Type, the Passenger vehicles segment is projected to dominate the market size in 2024
The automotive wiring harness market experiences significant growth due to the increasing usage of advanced systems in passenger vehicles. These systems, including engines, chassis, brakes, transmission, steering, and others, necessitate wiring harnesses for the transmission of data and signals from sensors to control units. The extensive application of electronic components in passenger vehicles, categorized as entry-segment, mid-segment, and premium or luxury-segment, contributes substantially to this market. Entry-segment vehicles, priced at USD15,000 or less, mid-segment vehicles, priced between USD15,000 and USD40,000, and luxury-segment vehicles, priced at USD40,000 and above, all require wiring harnesses for their sophisticated systems.
By Application, Chassis segment is expected to hold the largest market size for the year 2024
The automotive wiring harness market experiences significant revenue growth due to the increasing integration of electronic systems in chassis components. Chassis systems, including transmission, axle, suspension, steering, and braking, are essential automobile elements mounted on the chassis frame. Electronic penetration in these systems has escalated, driving market expansion. Premium vehicle demand further fuels this trend, as these segments incorporate advanced chassis control systems.
APAC is forecasted to hold the largest market size by region in 2024
The Automotive Wiring Harness Market experiences significant revenue generation from Medium and Heavy Commercial Vehicles (M&HCVs), which encompasses vehicles weighing 16,000 lb. and above. In developed automotive markets, the high utilization of heavy-duty trucks drives market growth. Moreover, the escalating demand for M&HCVs in emerging economies, including city delivery trucks, bucket trucks, single-axle trucks, rack trucks, haul trucks, cement trucks, and truck tractors, is anticipated to fuel segment expansion. Manufacturers of M&HCVs are prioritizing the integration of driver-assisted steering systems to enhance vehicle functionality and competitiveness within this market.
The Automotive Wiring Harness Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive Wiring Harness Market is experiencing significant growth due to the increasing demand for advanced technologies in semi-autonomous and autonomous vehicles. Low-latency communication devices, such as LIN, CAN, Ethernet, and Wi-Fi, are essential for enabling real-time data transfer between various automotive systems. These systems include safety solutions like vehicle-to-vehicle communication, blind-spot detection (BSD), proximity sensors, and 360-degree cameras. Automotive wiring harnesses play a crucial role in connecting various electronic components, such as speed sensors, HVAC systems, and electrical devices, to ensure optimal vehicle performance. With the rise of autonomous vehicles, smart battery systems are becoming increasingly important for power management and energy efficiency. Consumers and vehicle manufacturers are driving the demand for these advanced technologies, as they offer improved safety, convenience, and efficiency. Sensor signals transmitted through wiring harnesses enable features like adaptive cruise control, lane departure warning, and automatic emergency braking. Overall, the automotive wiring harness market is poised for continued growth as the industry embraces the future of transportation.
Market Research Overview
The Automotive Wiring Harness Market is a significant segment of the automotive industry, supplying essential components for both Light Vehicles and Heavy Vehicles. Production facilities manufacture various types of wiring harnesses, including High-Voltage Wiring Harnesses for Electric and Hybrid Electric Vehicles (EVs, PHEVs, HEVs, and BEVs), and traditional Copper-based wiring harnesses for Internal Combustion Engine (ICE) vehicles. Heavy vehicles face unique challenges, such as Fire Dangers, Wire Deterioration due to Temperature Changes, Corrosion, and Vibrations. Light vehicles, on the other hand, require advanced wiring harnesses for Infotainment Devices, Displays, and Driver-Assisting Technologies like Adaptive Front Lights, Blind Spot Detection, Adaptive Cruise Control, and Voice Recognition Systems. The market also caters to the growing demand for Lighter-Weighing Harnesses, Optical Fiber Cables, and advanced technologies like FlexRay, LIN, CAN, Ethernet, Proximity Sensors, and 360-degree Cameras for Semi-Autonomous and Autonomous Vehicles. Key players in the market include Spark Minda, Commercial Vehicles, Passenger Cars, and major component manufacturers like Guchen Electronic, Yazaki Corporation, TE Connectivity, and Furukawa. Automotive manufacturers, consumers, and government agencies continue to drive the growth of the market, focusing on safety measures, durability, and reliability. The market also offers opportunities for advanced technologies, such as Smart Battery Systems, Vehicle-to-Vehicle Communication, and Electric Power Trains. The market encompasses various components, including Chassis Harnesses, Motor Management Harnesses, Electrical Wiring Harnesses, and various connectors, terminals, grommets, clamps, convoluted tubes, and sheaths for electric wires. In summary, the Automotive Wiring Harness Market is a dynamic and evolving industry, catering to the ever-growing demands of the automotive sector, with a focus on safety, connectivity, and advanced technologies.
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