The global automotive wiring harness market size is anticipated to reach USD 63.00 billion by 2030 and is anticipated to grow at a CAGR of 3.4% 2024 to 2030, according to a report published by Grand View Research, Inc. Shifting consumer preference toward technologically advanced automobiles is encouraging automobile manufacturers to integrate automobiles with advanced functionalities, such as ADAS, navigation systems, and entertainment systems. These systems rely heavily on electronic components, which need to be interconnected using wiring harnesses if they are to function seamlessly.
Although the preference for EVs and hybrid vehicles is rising, the automotive wiring harnesses used in EVs and hybrids tend to be more complex as these vehicles require sophisticated wiring systems to power their electric motors, manage battery packs, and integrate ADAS and infotainment technologies. Consequently, automakers and automotive wiring harness manufacturers are investing heavily in research and development to create more efficient, lightweight, and durable wiring solutions capable of addressing the complexities associated with these vehicles.
A significant shift in consumer preferences toward automotive wiring harnesses that not only serve the fundamental purpose of efficiently transmitting electrical signals but also integrate additional safety functionalities and contribute toward various safety features, including collision detection and prevention systems, can be considered one of the emerging buyer trends. The preference for harnesses with integrated safety functionalities is rather indicative of a broader societal approach to road safety and accident prevention. Consumers are increasingly prioritizing vehicles equipped with advanced safety technologies that mitigate the risk of accidents and protect both drivers and passengers. The safety regulations being drafted by various regulatory bodies are further incentivizing the integration of advanced safety functionalities into automotive components, including harnesses. Suppliers are compelled to innovate to modify and upgrade their products in line with the evolving regulatory landscape while meeting consumer expectations for enhanced safety features.
Gather more insights about the market drivers, restrains and growth of the Automotive Wiring Harness Market
Automotive Wiring Harness Market Report Highlights
• Based on component, the terminals segment is anticipated to register at the significant CAGR from 2024 to 2030. This growth can be attributed to the growing advancements in automotive technology, such as safety features and driver assistance systems
• Based on application, the sensors harness segment is expected to grow at the fastest CAGR from 2024 to 2030. Advancements in sensor technologies, such as LiDAR and RADAR for autonomous driving, are driving the demand for sophisticated wiring harnesses capable of supporting complex sensor networks
• Based on electric vehicle, the battery electric vehicles (BEVs) segment led the market with the largest revenue share of 65.78% in 2023, owing to the rising cost of fossil fuels, the implementation of emission regulations, and the anticipated growth of the charging infrastructure around the world, which in turn is expected to propel the demand for an automotive harness with the electric vehicle landscape
• Based on vehicle, the light vehicle segment led the market with the largest revenue share of 95.81% in 2023. The growing adoption of light vehicles such as SUVs, utility vans, or trucks is driving the demand for automotive vehicle harness solutions
• Asia Pacific dominated the market with the largest revenue share of 45.8% in 2023, and is expected to grow at a consistent CAGR over the forecast period. The region is considered a major automobile market due to high population concentration, high disposable income, and easy availability of low-cost labor
Automotive Wiring Harness Market Segmentation
Grand View Research has segmented the global automotive wiring harness market report based on component, application, electric vehicle, vehicle, and region:
Automotive Wiring Harness Component Outlook (Revenue, USD Million, 2018 - 2030)
• Electric Wires
• Connectors
• Terminals
• Others
Automotive Wiring Harness Application Outlook (Revenue, USD Million, 2018 - 2030)
• Body Harness
• Chassis Harness
• Engine Harness
• HVAC Harness
• Sensors Harness
Automotive Wiring Harness Electric Vehicle Outlook (Revenue, USD Million, 2018 - 2030)
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
Automotive Wiring Harness Vehicle Outlook (Revenue, USD Million, 2018 - 2030)
• Light Vehicles
• Heavy Vehicles
Automotive Wiring Harness Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
• Latin America
o Brazil
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
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