Global Market for Automotive Wire Harness is Anticipated to grow at a Significant Pace i.e., USD 75 Billion during the Forecast Period 2021-2027

Published Date: Jun, 2021

The global automotive wire harness market is expected to grow at a considerable rate i.e., USD $75 billion by 2027, with a CAGR of 5.8% during the forecast period 2020-2027. Increasing the integration of electronic devices into vehicles has a positive impact on the wire harness market. This ensures safety, increases performance, fuel-efficient, and low probability of electrical shortage. Companies are focusing on strategic collaborations with end-users and regional distributors to expand their customer base. Several manufacturers are providing new production facilities for producing wire harnesses in developing countries due to the low labor cost involved. However, the COVID-19 pandemic has caused a severe impact on the automotive sector and wire harness market. There are a lot of disruptions in the supply chain halting the production and fall in demand. In the post COVID, there will be an increase in consumer preference of own vehicular transport and the rise in demand for autonomous and safe vehicles, thus providing revenue and employment generation in the automotive wire harness market.

Browse 62 market data Tables and 40 Figures spread through 150 Pages and in-depth TOC on " Automotive Wire Harness Market by Component Type (Electric Wire, Connectors, Terminals, and Others), by Application/Product Type (Body, Chassis, Engine, HVAC, and Sensors), by Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles), by Material Type (Metallic and Optic Fiber), and Region - Global Forecast to 2027"

Chassis & safety application type segment will remain a key beneficiary in terms of revenue in the market

On the basis of application, the market is segmented into body, chassis, engine, HVAC, and sensors. The chassis and safety segment will remain a key beneficiary in terms of revenue and includes fog lamps, headlamps, fuel flaps, and turn indicators. Chassis is used in electric and conventional vehicles.

Global Automotive Wire Harness Market Segmentation Analysis

Segment

Categorization

Leading Category

Component Type

Electric Wire, Connectors, Terminals and Others

Terminal (Fastest)

Application

Body, Chassis, Engine, HVAC, and Sensors

Chassis (Largest)

Vehicle Type

Passenger Vehicles, Commercial Vehicles, and Electric Vehicles

Passenger Vehicles (High CAGR)

Electric Vehicles (Fastest)

Material type

Metallic and Optic Fiber

Metallic (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific (Largest)

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Geography Insight

Geographically, APAC has the largest market share in the forecast period. This is due to the increasing road infrastructure activities, growing automotive manufacturing, an increase in demand for safety, low labor cost and convenience features in mid-segment vehicles will facilities will drive the growth of the region.

Competitive Insight

Some of the key players operating in the automotive wire harness market: Delphi Technologies PLC, Furukawa Electric Co. Limited, Leoni AG, Lear Corporation, Sumitomo Electric Industries Limited, Spark Minda, Yazaki Corporation, Samvardhana Motherson Group, Nexans Auto Electric Gmbh, and Yura Corporation.

In September 2020, Motherson Sumi Systems Limited had entered into an agreement to acquire US-based Stoneridge Inc’s wiring harness business for USD 65.7 million. The acquired business has a turnover of approx. USD 300 Million.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2019–2027

Historical Period

2019–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Component Type, Application, Vehicle Type, Material Type, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Delphi Technologies PLC, Furukawa Electric Co. Limited, Leoni AG, Lear Corporation, Sumitomo Electric Industries Limited, Spark Minda, Yazaki Corporation, Samvardhana Motherson Group, Nexans Auto Electric Gmbh and Yura Corporation

Key Takeaway from the Report:

  • Chassis & safety application type segment will be a beneficiary in terms of revenue in the market.
  • On the basis of vehicle type, passenger vehicle is expected to have a high CAGR during the forecast period
  • Based on components, the terminals segment is projected to witness the fastest growth over the forecast period.

The Report Offers:

  • Historical market estimate for the years 2019–2020 and forecast for the years 2020–2027
  • Insight on current market trends, market dynamics, key opportunities, and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview, and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global automotive wire harness market on the basis of component type, vehicle type, application, material type, sales channel, and region

Global Automotive Wire Harness Market Coverage

Component Type Insight and Forecast 2020-2027

  • Electric wires
  • Connectors
  • Terminals
  • Others

Vehicle Type Insight and Forecast 2020-2027

  • Passenger Vehicles
  • Commercial Vehicles
  • Electric Vehicles

Application Insight and Forecast 2020-2027

  • Body
  • Chassis
  • Engine
  • HVAC
  • Sensors

Material Type Insight and Forecast 2020-2027

  • Metallic
  • Optic Fiber

Geographical Segmentation

Automotive Wire Harness Market by Region

North America

  • By Component Type
  • By Vehicle Type
  • By Application
  • By Material Type
  • By Country – U.S., Canada, and Mexico

Europe

  • By Component Type
  • By Vehicle Type
  • By Application
  • By Material Type
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Component Type
  • By Vehicle Type
  • By Application
  • By Material Type
  • By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Component Type
  • By Vehicle Type
  • By Application
  • By Material Type
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Market for Automotive Wire Harness is Anticipated to grow at a Significant Pace i.e., USD 75 Billion during the Forecast Period 2021-2027