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Leading Element Driving Change in the Automotive Wiring Harness Market in 2025: Surging Electric Vehicle Sales Drive Growth In The Automotive Wiring Harness Market Driver
Automotive Wiring Harness Market Size
The burgeoning needs and adoption of hybrid and electric cars are playing a substantial role in bolstering the automotive wiring harness industry. Utilized in hybrid automobiles for superior functionality even under harsh circumstances, automotive wiring harnesses can transmit sizable currents in formidable conditions, having the capacity to withstand high electrical loads, elevated temperatures, and electromagnetic interference. For instance, as stated in a report by Kelley Blue Book, a US branch of Cox Automotive, in January 2024, a record-breaking 1.2 million automobile purchasers in the US in 2023 selected electric vehicles. This equated to 7.6% of the total U.S. automotive market, an increase from 5.9% in the previous year, 2022. The surging demand for hybrid and electric vehicles is anticipated to boost the need for automotive wiring harnesses, subsequently propelling the expansion of the automotive wiring harness market during the projected period.
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What is the projected compound annual growth rate (CAGR) of the automotive wiring harness market from 2025 to 2034, and what factors influence it?
There has been a consistent growth in the size of the automotive wiring harness market in the past few years. The market, which was valued at $60.43 billion in 2024, is projected to reach $63.44 billion in 2025, marking a compound annual growth rate (CAGR) of 5.0%. Factors such as regulatory directives, increase in sales of passenger vehicles, economic development, and governmental backing contributed to this growth during the historic period.
In the coming years, significant expansion is anticipated in the automotive wiring harness market, with projections reaching $77.58 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.2%. This anticipated growth during the forecast period is primarily due to a heightened focus on vehicle safety, increased vehicle purchases, augmented connectivity in vehicles, increasing urbanization and an increase in disposable income. Eco-friendly materials, 5G connectivity incorporation, thermal management, modular and scalable designs, and collaborations and partnerships are anticipated to be the leading trends in the forecasted period.
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How are the latest trends influencing the growth of the automotive wiring harness market?
The primary trend being pursued by firms in the automotive wiring harness market is technological innovation. The goal is to develop and implement more streamlined wiring harnesses that take up minimal space. To illustrate, in May 2022, Marelli - a component developer and manufacturer for the motor industry based in the US - unveiled its Wireless Distributed Battery Management System (wBMS) for electric vehicles. The wBMS streamlines communication between batteries and the control unit by utilizing wireless technology, thus eliminating the need for daisy-chain communication and wiring. This not only simplifies battery cell design and installation, but also significantly reduces the wiring harness by 90%, affording greater flexibility for the placement of battery modules.
What are the major segments of the automotive wiring harness market and their role in driving growth?
The automotive wiring harness market covered in this report is segmented -
1) By Component Type: Wires, Connectors, Terminals, Other Components
2) By Material Type: Copper, Aluminum, Other Materials
3) By Harness Type: Main Harness, Auxiliary Harness, Other Types
4) By Vehicle Type: Two Wheelers, Passenger Cars, Commercial Vehicles
Subsegments:
1) By Wires: Copper Wires, Aluminum Wires, Shielded Wires
2) By Connectors: Standard Connectors, Waterproof Connectors, High-Voltage Connectors
3) By Terminals: Crimp Terminals, Solder Terminals, Insulated Terminals
4) By Other Components: Cable Ties, Heat Shrink Tubing, Protective Sleeves, Junction Boxes
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Which regions are key players in the growth of the automotive wiring harness market?
Asia-Pacific was the largest region in the automotive wiring harness market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive wiring harness market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the automotive wiring harness market?
Major companies operating in the automotive wiring harness market include Yazaki Corporation, Sumitomo Electric Industries, Aptiv PLC, Furukawa Electric, Leoni AG, Nexans, DELPHI AUTOMOTIVE LLP, Lear Corporation, SAMVARDHANA MOTHERSON GROUP, Yura Corporation d.o.o., Fujikura Automotive, PKC Group PLC., Coroplast Fritz Muller GmbH & Co. Kg, Motherson Sumi Systems Limited, Quingdao Sanyuan Group, Kyungship Corporation, Kromberg & Schubert, Jiangsu Kyungshin Electronic Co. Ltd, Brascabos Electrical Electronic Components, Cypress Industries, Dräxlmaier Group, Gebauer & Griller Group, General Cable Technologies Corporation, BorgWarner Inc., TE Connectivity Ltd, Spark Minda Group, Samvardhana Motherson Reflectec, THB Group Inc., K&S Wiring Systems, Hirschmann Car Communication GmbH, Minda Automotive Solutions Ltd.
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What Is Covered In The Automotive Wiring Harness Global Market Report?
•Market Size Forecast: Examine the automotive wiring harness market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive wiring harness market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive wiring harness market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive wiring harness market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive wiring harness market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive wiring harness market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive wiring harness market.
•Competitive Landscape: Review strategic developments in the automotive wiring harness market, including expansions, agreements, and new product launches.
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