Press release
Automotive Wiring Harness Market Growth Steady at 4.27% CAGR to Reach $68.18 Billion by 2027 Led by Leoni, Nexans, Minda Spark, Delphi Automotive, Furukawa Electric, Yazaki, Fujikura Automotive, Samvardhana Motherson, Sumitomo Electric, Lear

Automotive Wiring Harness Market Worth USD 68.18 Billion by 2027 Led by Leoni, Nexans, Minda Spark, Delphi Automotive
The global automotive wiring harness market by Type has been segmented into Main Harness, Auxilary Harness, ICE Harness, and others. The automotive wiring harness market by type was led by Main segment. There are various types of wiring harness that goes into a vehicle. Each harness is a perfect match for its purpose and depends upon the vehicle to vehicle and model to model. Individual wiring harness is specific to its model and application and has organized set of connectors, wires, and terminals and runs throughout the body of a vehicle and convey information and electric power.
With the advent of the electric vehicle, high voltage >60V wiring harness is coming into play. The main harness of a vehicle is independent from the type of vehicle and features available in the vehicle. These are the most basic set of wires needed for a vehicle to run and is indispensable. However, as features in a vehicle increases, the type of harness also tend to increase.
Increases are expected in all the major production regions, while the North America and Asia Pacific are likely to perform more dynamically than the European region. The output of vehicles with alternative drive technologies will again very much outpace the overall market. Double-digit rates of growth are expected in all regions, which adds up to a 51 percent global increase in output.
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Automotive Wiring Harness Market Company Profiles:
• Sumitomo Electric
• Lear Corporation
• Delphi Automotive PLC (Aptiv)
• Yazaki Corporation
• Furukawa Electric Co.
• Fujikura Automotive
• Samvardhana Motherson Group
• Leoni AG
• Minda Spark
• Nexans
As per the automobile associations, the global vehicular population had crossed 1 billion mark in the year 2010 itself which was driven by the aggressive growth rates in India and China in that fiscal year. The rise in the sales of vehicles and in particular passenger cars can be attributed to the steady increase in the disposable incomes of consumers. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes by consumers.
Globally, the trend of urbanization is growing at an exponential growth rate. Due to this, the average disposal income of the population staying in urban cities is also increasing, allowing them to enhance their lifestyles. The number of passenger cars operated worldwide is therefore bolstering, further creating a demand for production of passenger cars to cater to the ever increasing demands. This would drive the revenue prospects of automotive wiring harness market.
Strategic Insights:
New market initiatives were observed off late by companies in global automotive wiring harness market. Few of the recent market initiatives are listed below:
2019: Aptiv PLC announced the opening of its Las Vegas Technical Center. The facility joins Boston, Singapore and Pittsburgh as one of Aptiv's major autonomous vehicle hubs, and is a state-of-the-art, all-inclusive facility for vehicle operations, research and development, data management and technology demonstration center.
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2018: Furukawa Electric Co. received an order for new wire harness for global vehicles, following this the company has expanded the production capacity of its Philippines Center.
2018: Lear Corporation announced its investment in an Israel-based venture capital fund managed by Maniv Mobility that is focused on advancing mobility technology.
The global automotive wiring harness market by vehicle type has been segmented into passenger car, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle (M&HCV). Wiring harness provides electrical as well as data connection within a vehicle. With the rise of advanced driver assistance systems such as Anti-lock Brake System (ABS), Electronic Brake Distribution (EBD), Lane-keep Assist, Traction Control, Electronic Stability Program (ESP), Adaptive Cruise Control, Automatic Braking, Automatic Parking and Blind Spot Detection (BSD) among others, the demand for data connectivity cables or harness is set to increase. TThe price variation of passenger vehicle wiring harness as compared with LCV and M&HCV is around 30% - 40% on the lower side.
Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Automotive Wiring Harness Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Automotive Wiring Harness Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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