CHICAGO, Oct. 30, 2023 /PRNewswire/ -- Automotive Wiring Harness Market is projected to grow from USD 48.7 billion in 2023 to USD 59.5 billion by 2030, at a CAGR of 2.9% from 2023 to 2030, according to a new report by MarketsandMarkets™. The market is driven by factors such as increasing vehicle production, increased adoption of electric vehicles, increased number of new features in modern vehicles, etc. The shift towards electric & hybrid vehicles and vehicles with ADAS features drives the demand for complex wiring harnesses with higher data transfer rates. The future challenge for the wiring harness manufacturers and OEMs would be to accommodate high-voltage systems, battery management and electric motors, and motor management systems with high-speed data wiring.
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Automotive Wiring Harness Market Scope:
Report Coverage | Details |
Market Size | USD 59.5 billion by 2030 |
Growth Rate | 2.9% of CAGR |
Largest Market | Asia Pacific |
Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
Forecast Period | 2023-2030 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By application, ICE vehicle type by transmission type and application, Electric vehicle type by transmission type and application, component, material, data transmission harness market, by data rate, by high voltage and region. |
Geographies Covered | Asia Pacific, North America, Europe, and Rest of the World |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Increase in use of high voltage wiring harnesses and optical fiber cables |
Key Market Drivers | Rise in Advanced Features in Vehicles |
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 industry by 2030. Also, using aluminium 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 aluminium wires in wiring harnesses used in Toyota Boshoku seats and fitted in the new Toyota Land Cruiser 300. However, aluminium 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 aluminium 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 aluminium for weight reduction and efficiency. Some automakers, such as Sumitomo, are exploring these alternatives, leading to a slight decrease in copper usage.
The body and lighting harness segment is estimated to be the largest market during the forecast period.
The body and lighting harnesses are integral components in modern vehicles, responsible for the electrical connections that power and control various aspects of a vehicle's body and lighting systems. This includes the vehicle's lighting, door locks, power windows, interior electronics, and dashboard controls. Introducing new internal applications such as ambient lighting, dashboard lighting, glovebox lighting, and exterior applications such as matrix LED headlamps, rear flashlights, and DRLs has led to technological changes in wiring harnesses and associated electronics. The presence of luxury or premium vehicles across the globe is increasing. These vehicles are equipped with cutting-edge technology, including advanced safety systems, infotainment, and autonomous driving features, requiring more harnesses. According to industry experts, body & lighting harness requires 900-1,000 wires, 5-7 harnesses, and 300-500 circuits, with a data transmission rate of 10-15% per the vehicle's length and complexity. Asia Pacific is estimated to be the largest market for this segment as this region is expected to have a higher growth rate in vehicle production, thereby driving the growth of the body and lighting harness segment.
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.
Consequently, there is a growing demand for automotive wiring harnesses in Europe as an increasing number of vehicles are equipped with these advanced features. The growing production of luxury vehicles in Germany and the UK drives the demand for automotive wiring harnesses. Luxury vehicles stand out for their extensive advanced features, including heated and cooled seats, power windows and locks, sunroofs, and cutting-edge safety systems like automatic emergency braking, lane departure warning, and adaptive cruise control. These features necessitate integrated wiring harnesses to establish connections among the various components and systems that enable their functionality. Bentley, Cadillac, Lincoln, Mercedes-Maybach, Porsche, and Rolls-Royce are some luxury cars that will continue driving sales in this region, further driving the need for advanced wiring harness technology. In Europe, the accelerated shift toward electric vehicles, backed by government targets for widespread electrification by 2030, is transforming the automotive wiring harness market. Norway, Finland, Germany, etc., dominate the electric vehicle market, further driving the demand for advanced wiring harnesses. Electric vehicles demand high voltage wiring harnesses to connect critical components like batteries and inverters. Additionally, advanced features in EVs require supplementary harnesses. As a result, the demand for automotive wiring harnesses is poised for substantial growth, driven by the expanding production of EVs and the integration of advanced technologies, presenting business opportunities for manufacturers.
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Key Market Players:
The major players in Automotive Wiring Harness Companies include Yazaki Corporation (Japan), Sumitomo Electric Industries, Ltd. (Japan), Aptiv PLC (Ireland), Furukawa Electric (Japan), and Leoni AG (Germany).
Recent Developments
- In May 2023, Sumitomo Electric and NICT (National Institute of Information and Communications Technology) developed the world's first 19-core optical fiber with a standard outer diameter. They set a new world record for transmission capacity. The new fiber can transmit 1.6 terabits per second (Tbsp.) over 10,000 kilometres, which is twice the capacity of the previous record holder. The development of this new fiber is a breakthrough for long-distance optical communication and is expected to be used in future 5G and beyond 5G networks.
- In May 2023, Sumitomo Electric Wiring Systems will invest approximately USD 10 million in manufacturing harnesses, becoming the first Tier 1 automotive company to establish operations in Tabasco, Mexico. Tabasco has seen a remarkable 24.3% growth in economic activity, positioning itself as an attractive destination for automotive investment. The company will be located near key transportation routes in the Tabasco Business Center industrial park.
- In March 2022, Morocco's Ministry of Industry and Trade has inked eight investment agreements with prominent international automotive suppliers like Yazaki, Sumitomo, Lear, Stahlschmidt, and TE Connectivity, totalling USD 175 million in investments and promising the creation of 12,000 direct jobs. Yazaki Group has entered into three agreements for substantial investments in Morocco's automotive sector. This includes the construction of a new wiring production plant in Meknes and expanding existing facilities in Kenitra and Tangier.
- In December 2022, Aptiv PLC successfully acquired an 85% equity stake in Intercable Automotive Solutions from Intercable S.r.l., with the deal valued at USD 627 MN. Intercable Automotive Solutions, a leader in high-voltage power distribution and interconnect technology, will be an independent business unit under Aptiv's Signal & Power Solutions segment, maintaining its existing brand. This acquisition strengthens Aptiv's global leadership in vehicle architecture systems.
- In June 2022, Furukawa Electric secured deals with eight automakers to use its aluminium wire harnesses in one hundred vehicle models by 2025, mainly targeting European automakers. The company will continue developing aluminium harnesses to further reduce weight as the global shift toward EVs accelerates.
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