The global automotive wiring harness market size is expected to grow from $51.24 billion in 2021 to $53.35 billion in 2022 at a compound annual growth rate (CAGR) of 4.11%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive wiring harnesses market size is expected to reach $64.18 billion in 2026 at a CAGR of 4.61%.
What is the Global Automotive Wiring Harness Market?
The automotive wiring harness market consists of sales of automotive wiring harness products by entities (organizations, sole traders, and partnerships) consisting of a wire assembly, connectors and terminals which run through the vehicle to transmit information and electric power. Automotive wiring harness enable transmission of control signals and electrical power to the different electronic and electrical devices in the automotive to ensure basic functionality and enhanced safety. They also aid in signal transmission and powering up of different electronic and electrical devices.
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What drives the Global Automotive Wiring Harness Market?
The expanding demand and usage of hybrid and electric vehicles are significantly contributing to the growth of the automotive wiring harness market. Automotive wiring harness is used in hybrid vehicles to offer good performance in harsh environments. These harnesses can transmit high currents in even in extreme conditions, thus being able to handle electrical loads, and resist high heat and electromagnetic noise. In 2021, electric car sales doubled to 6.6 million from 3 million in 2020. Also, sales China, the US, and Europe increased by 160% in the first half of 2021, over the previous year. The increasing demand for electric and hybrid cars is expected to propel the demand for automotive wiring harness, thus driving the market during the forecast period.
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Global Automotive Wiring Harness Market Segments
The global automotive wiring harness market is segmented:
By Component Type: Wires, Connectors, Terminals, Others
By Material Type: Copper, Aluminum, Others
By Harness Type: Main Harness, Auxiliary Harness, Others
By Vehicle Type: Two Wheelers, Passenger Cars, Commercial Vehicles
By Geography: The regions covered in the automotive wiring harness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Wiring Harness Global Market Report 2022provides market size and growth forecasts for the global automotive wiring harness market, global automotive wiring harness market share, automotive wiring harness market segments and geographies, automotive wiring harness market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive wiring harness market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Wiring Harness Industry Playersinclude Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Nexans, DELPHI AUTOMOTIVE LLP, LEAR CORPORATION, SAMVARDHANA MOTHERSON GROUP, YURA CORPORATION, Fujikura Automotive, PKC Group Plc, Coroplast Fritz Muller GmbH & Co. Kg, Motherson Sumi Systems Limited, NEXANS AUTOELECTRIC, Quingdao Sanyuan Group, Kyungship Corporation, Kromberg & Schubert, Jiangsu Kyungshin Electronic Co. Ltd, Furukawa Electric Co., Ltd, MOTHERSON SUMI Systems, Delphi Technologies, Adaptronic Pruftechnik GmbH, Brascabos, Cypress Industries, Czech Republic Onamba S.R.O., Draxlmaier, United Harness Limited, Fujikura Ltd, Gebauer & Griller Group, and General Cable Technologies Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
