Automotive Wiring Harness Market is expected to generate a revenue of USD 58.79 Billion by 2030, Globally, at 4.25% CAGR: Verified Market Research®

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Sep 19, 2022, 10:15 ET

The key driver of the growth of the automotive wiring harness market is the trend toward integrating cutting-edge technology to enhance driving enjoyment and vehicle performance. In addition, a surge in automobile sales is accelerating the market's expansion.

JERSEY CITY, N.J., Sept. 19, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Automotive Wiring Harness Market" By Material (Copper, Aluminum), By Propulsion (ICE Vehicles, Electric Vehicles), By Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV)), By Application (Engine Harness, Chassis Harness), and By Geography.

According to the extensive research done by Verified Market Research experts, the Automotive Wiring Harness Market size was valued at USD 40.44 Billion in 2022 and is projected to reach USD 58.79 Billion by 2030, growing at a CAGR of 4.25% from 2023 to 2030.

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Browse in-depth TOC on "Automotive Wiring Harness Market"

202 - Pages

126 – Tables

37 – Figures

Key Developments

Mergers and Acquisitions

In January 2022, Aptiv announced the acquisition of wind river, which is a prominent software firm. Aptiv is advanced software and systems integration business organization. The business move will lead to increased investments in software development.

Product Launches and Product Expansions

In March 2022, Sumitomo Electric announced the launch of the New Z2C fusion splicer, which is based on AI-programmed fusion technology. It will enhance the work efficiency at its construction sites and the business organization is committed to its advancements in technologies and quality product deliveries.

Global Automotive Wiring Harness Market Overview

An organized system of wires, terminals, and connections that run throughout the whole vehicle and transmit data and electrical power is known as a wiring harness. As a result, wiring harnesses are crucial in connecting a number of components. The progress of automobiles means that more and more of its component elements need electronics to be able to satisfy other needs. It is clear that wiring harnesses play a significant role in the growth and development of auto manufacturers all over the world.

Safer, more energy-efficient, less expensive to maintain, better for the environment, and many other benefits are provided by electric vehicles. Due to rising fuel prices and environmental concerns, there is a growing market for hybrid and electric automobiles. The benefits of hybrid vehicles are also becoming more widely known among customers and governments, which increases demand for them. Due to this need, the global automotive wiring harness market has expanded. The market is expanding as a result of the increased focus on safety solutions for electric cars.

Additionally, the increased per capita income of consumers is contributing to an increase in automobile sales all around the world. The tendency of incorporating cutting-edge features into automobiles, or simultaneously, is what spurs the need for automotive wire harnesses.

Key Players

The major players in the market are Sumitomo Electric, APTIV, Yazaki, Furukawa, Lear, PKC, Nexans, Samvardhana Motherson, Fujikura, Leoni.

Verified Market Research has segmented the Global Automotive Wiring Harness Market On the basis of Material, Propulsion, Vehicle Type, Application, and Geography.

Automotive Wiring Harness Market, by Material

Copper
Aluminum
Others

Automotive Wiring Harness Market, by Propulsion

ICE Vehicles
Electric Vehicles

Automotive Wiring Harness Market, by Vehicle Type

Passenger Cars
Light Commercial Vehicles (LCV)
Buses
Truck

Automotive Wiring Harness Market, by Application

Engine Harness
Chassis Harness
Battery Harness
Airbag Harness
Seat Harness
Door Harness
Others

Automotive Wiring Harness Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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