Automotive wiring harness market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period. The growth of the market is attributed to factors such as the increasing demand for electric vehicles(EVs)along withthe growing automotive industry. Further, various technological advancements in automotive technology and the rising demand for improved connectivity and safety features in vehicles are also some other factors anticipated to fuel the demand for automotive wiring harnesses. Owing to this various market players are collaborating to launch a new technology for the wiring harness market to cater to the growing demand and stay competitive. For instance, in February 2023, Hero Electric partnered with Dhoot Transmission Pvt. Ltd. for sourcing new wiring harness solutions. Under the partnership, Hero Electric’s products will be equipped with the latest wiring harnesses from the Tier 1 supplier. The partnership aims to develop new wiring harness solutions for Hero Electric vehicles.
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The North America region is anticipated to hold a significant share in the automotive wiring harness market during the forecast period. This growth is attributed to the presence of major market players such as Aptiv PLC, Delphi Automotive LLP, Optronics Inc., and others. These major players are adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2020, Optronics acquired USA Harness. The aim of Optronics’ acquisition of USA Harness is to become one of only a few manufacturers capable of fully serving the light-, medium-, and heavy-duty commercial vehicle industry by offering a comprehensive line of integrated modular power delivery and lighting solutions for commercial vehicles. With the acquisition, Optronics has become the newest integrated full-line lighting and harness supplier in the industry. The acquisition will enable Optronics to disrupt the status quo and expand its product offerings to better serve the needs of its customers.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Wiring Harness Market Report Segment
By Component
- Electric Wires
- Connectors
- Terminals
- Others (Wire Spool Racks)
By Application
- Body
- Engine
- Chassis
- HVAC
- Sensors
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Global Automotive Wiring Harness Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive wiring harness market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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