The global automotive wiring harness market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period. Automotive companies are heavily investing in the automotive wiring harness business to cater to the unique electrical demands of electric vehicles (EVs).An automotive wiring harness is a network of wires, cables, and connectors that transmit electrical signals and power throughout a vehicle. It plays a crucial role in connecting various electrical components and ensuring efficient and reliable communication between them. As more EVs are produced and sold, the need for specialized wiring harnesses will continue to grow. This trend presents a significant opportunity for companies to capitalize on the market by investing in the development, production, and supply of automotive wiring harnesses tailored for electric vehicles. The rise in demand for 48V high voltage capacity, the growing need for connectivity and data transmission in automobiles, and the integration of advanced technologies such as vehicle communication devices are some of the key factors propelling the demand for automotive harnesses within the EV landscape. As the demand for electric vehicles (EVs) continues to rise, manufacturers are focusing on developing and producing EVs to meet the growing market needs. For instance,
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• In April 2023, Japanese company Sumitomo Electric Wiring Systems is planning to invest $100 million in Egypt to expand its production of electric vehicle (EV) wiring harnesses. Sumitomo is set to build a factory for EVs wiring harness production in Egypt. The investment is part of Sumitomo's efforts to expand its global presence in the EV market. The factory is expected to create jobs and contribute to the growth of the EV industry in Egypt.
• In March 2022, Morocco signed new investment deals worth $180 million with five automotive cable suppliers as it pushes to meet the growing demand from electric vehicle makers. The investment will be used to enhance the supply of automotive wiring systems. The five suppliers include Sumitomo, Lear, Yazaki, Leoni, and Coroplast. Sumitomo will expand its electric harness plant in Casablanca with a $15 million investment, while Lear will set up a plant for electric cables in Meknes with a total investment of $20.6 million and a new terminals and connectors plant in Tangier for $28 million.
Market Coverage
• The market number available for – 2023-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Component
o By Application
o Vehicle Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape-includes Aptiv Global Operations Ltd., Delphi Powertrain Systems Operations, Sumitomo Electric Group. and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Automotive Wiring Harness Market Report Segment
By Component
By Application
By Vehicle Type
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
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