The Automotive Wiring Harness Market accounted for a significant portion of the global automotive components sector, with a market size of USD 48.7 billion in 2023. This dominant market share underscores its vital role in ensuring the seamless functioning of modern automotive systems, ranging from safety features to infotainment and power distribution in both traditional and electric vehicles. Expected to reach USD 59.5 billion by 2030, the market is growing at a CAGR of 2.9% during the forecast period, driven by the increasing electrification of vehicles and advancements in automotive technology. The growing complexity of vehicle systems has amplified the market share of wiring harnesses, solidifying their status as a cornerstone of the automotive industry's evolution
Asia-Pacific holds the largest Automotive Wiring Harness Market share, fueled by high automotive production in countries like China, Japan, and India, alongside the rapid adoption of electric and hybrid vehicles. North America and Europe also contribute significantly, thanks to the rising demand for advanced driver-assistance systems (ADAS) and connected vehicle technologies. These trends highlight the growing reliance on efficient and durable wiring harnesses, essential for meeting safety, performance, and environmental standards globally.
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The metallic wiring harness is expected to hold the largest market share in 2023
The metallic segment holds the largest share of the automotive wiring harness market. OEMs mostly use copper for manufacturing automotive wiring harnesses due to high conductivity, durability, limited corrosion, high tensile strength, and high data transfer. Hence, metallic wiring harnesses are extensively used in various critical automotive applications, including powertrain, chassis, body and lighting, safety systems, transmission, and interior wiring. Despite fluctuations in the prices of copper, which have impacted the profit margins of wiring harness manufacturers in the recent past, metallic materials are still expected to hold a large share of the automotive wiring harness market by 2030. Also, using aluminum in automotive wiring harnesses with gold plating helps enhance data transmission and reduce weight and costs. For instance, Positronic provides gold plating in connectors, and TE Connectivity also provides automotive terminals with either gold or nickel plating. Furukawa Electric in October 2021 developed aluminum wires in wiring harnesses used in Toyota Boshoku seats and fitted in the new Toyota Land Cruiser 300. However, aluminum has its challenges, such as corrosion and termination issues. Hence, wiring harness manufacturers are still using copper. While copper remains a preferred choice for its conductivity and reliability, there has been ongoing research and development in alternative materials, such as aluminum and conductive plastics, to reduce weight and improve vehicle fuel efficiency. The market will continue to rely on copper for its reliability and conductivity, alongside a growing use of aluminum for weight reduction and efficiency. Some automakers, such as Sumitomo, are exploring these alternatives, leading to a slight decrease in copper usage.
Europe is anticipated to be the second-largest market in 2023, driven by growing vehicle production and electrification trends.
The European market is expected to exhibit growth in vehicle production in the coming years, increasing the demand for wiring harnesses. Companies such as Aptiv PLC (Ireland), Leoni AG (Germany), and Nexans (France) are key players in the domestic wiring harness market. Germany, France, Spain, the UK, Russia, Italy, and the Rest of Europe have been considered under Europe for market analysis. The European Union (EU) has implemented a range of regulatory mandates to enhance vehicle safety by including advanced driver assistance systems (ADAS) and other safety features. These regulations are strategically designed to reduce accidents and improve overall road safety. The implications of these mandates are particularly noteworthy for the automotive wiring harness market. ADAS and safety features necessitate intricate wiring harnesses to interconnect the sensors, actuators, and control units, enabling these systems to function effectively.
Key Market Players:
Major players operating in the electric powertrain market are Yazaki Corporation (Japan), Sumitomo Electric Industries, Ltd. (Japan), Aptiv PLC (Ireland), Furukawa Electric (Japan), and Leoni AG (Germany).
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