Dublin, Dec 24, 2021 (GLOBE NEWSWIRE) – The “Global Automotive Wiring Harness Market By Application (Engine, Chassis, Cab, Body & Lights, HVAC, Battery, Seat, Sunroof, Door), Transmission Type (Data , electricity), Date Rate, ICE & Electric Vehicle, Component, Material, & Region – Forecast to 2026 “report has been added to ResearchAndMarkets.com offer.
The global automotive wiring harness market is expected to grow from USD 47.0 billion in 2021 to USD 57.4 billion by 2026, at a CAGR of 4.1% during the forecast period.
There has been a significant increase in vehicle production over the years. However, in 2020, factors such as COVID-19, regional disparities, a weak economy, and delays in vaccination schedules resulted in a drop in global vehicle production.
However, a strong rebound in global vehicle production with the recovery of major industries across the globe since the middle of last year has helped mitigate the pandemic’s impact on the auto industry. The global economic recovery is also expected to be fueled by increased vaccine production and vaccination rates, allowing businesses to reopen faster.
Strict vehicle emissions regulations and growing concerns about protecting the environment have forced automotive suppliers to seek alternative fuels. Thus, the use of hybrid and electric vehicles has increased in recent years. Electric vehicles do not have a conventional combustion engine and transmission system. Replacing mechanical systems with electrical and electronic systems has increased wire harnesses in electric vehicles. The growing demand for BEV would increase high-end electronics in automobiles, thereby increasing the installation of wire harnesses in electric vehicles. As electronic features control most of the functions of electric vehicles, the demand for wire harnesses is expected to increase in the coming years.
Growing consumer demand for environmentally friendly products, such as batteries and hybrid electric vehicles, requires a high voltage, lightweight wire harness system. Electric vehicles are connected to the high voltage battery and motors, which requires a high voltage wire harness to transfer the high power. The high voltage wire harness requires shielding to reduce electromagnetic noise and protect surrounding electronics and signal lines. The electric vehicle requires positive and negative connectors and shielded wire harnesses for protection and shielding. The electric vehicle requires more current, which leads to the widening of the cross section of the wire conductors, which further increases the weight of the area. Weight reduction can be achieved by using aluminum wire which serves as both shielding and protection. Aluminum is used in most electric vehicle wire harnesses due to its good heat resistance and thermal conductivity and can be molded into any shape.
The increased sales of battery electric vehicles would have a direct impact on the automotive wiring harness market. New types of wiring harnesses, such as high voltage and fiber optic wires, are also being developed specifically for electric and hybrid vehicles. Thus, the increasing adoption of electric vehicles will increase the demand for high voltage wire harnesses, subsequently expanding the market.
- Growing vehicle production and demand for advanced features in the motor vehicle market
- Automotive Wiring Harness Market, By Type Of Ice Vehicle – Passenger Cars Expected To Dominate In Ice Wiring Harness Market
- Ice Vehicle Market By Application – Sun Roof Wiring Harness To Show Fastest Growth Due To Increased Use In Premium Vehicles And SUVs
- Market, Ice By Transmission Type – Electrical Wiring Harness To Dominate The Market By Transmission Type
- Market, Electric Vehicle, By Transmission Type – Electrical Wiring To Dominate During Forecast Period
- Market, By Electric Vehicle Type – Battery Electric Vehicles Leading EV Wiring Harness Segment
- Automotive Wiring Harness Market, By Component – The Wires To Lead The Components Segment In Value
- Market, by material – Metal wiring in economy passenger cars to gain greater market share
- Data Transmission Beams Market, By Data Rate – 150 MBPS Segment Expected To Maintain Top Position During Forecast Period
- Asia-Pacific is expected to account for the largest market share in 2021
- Growing vehicle production and demand for advanced features
- Production of Conventional Vs. Vehicles. High-end vehicles
- Increase in advanced features in vehicles
- Growing penetration of electric vehicles
- Limits of Conventional Wiring Harness
- Wiring Harness Life Problems
- Limited data transfer rate
- Growing trend of autonomous and semi-autonomous vehicles
- Light harness request
- Fluctuating Copper Costs Due to Growing Demand
- Challenges in preparing, staging and crimping wires
- Adaptronic Pruftechnik GmbH
- Aptiv plc
- Coroplast Fritz Muller GmbH & Co. Kg
- Cypress Industries
- Czech Republic Onamba SRO
- Fintall Oy
- Fujikura Ltd
- Electric furukawa
- Gebauer & Griller Group
- General Cable Technologies Corporation
- Hesto harness
- KE Elektronik
- Kromberg & Schubert GmbH
- Lear Corporation
- Leoni Ag
- Motherson Sumi Systems Limited
- Prestolite thread
- Prysmian group
- Electronic Season
- Shenzhen Deren Electronics
- spark minda
- Sumitomo Electric Industries
- Thai Summit Group
- THB Group
- United Harness Limited
- Yazaki Company
- Yura Company
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