Wire Harness Market to Surpass Valuation of US$ 191 Bn by 2030 - Transparency Market Research

Wire Harness Market: Introduction

Transparency Market Research delivers key insights on the global wire harness market. In terms of revenue, the global wire harness market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global wire harness market.

The global wire harness market is broadly affected by several factors, including rising demand for wire harnesses aligned with the growing demand for electric vehicles. Thus, expanding usage of wire harnesses in different segments is propelling the global wire harness market.

Wire Harness Market: Dynamics

Powering automotive, medical devices, aerospace, and electronics manufacturing industries worldwide have created a robust foundation for wire harness manufacturers. Considering the demand from the automotive industry alone, the rising electronics and electrical complexity in vehicles today has been a key driver for the wire harness market. New generation vehicles at times contain more than 150 pounds of wiring, which subsequently results in application of thousands of wire harnesses in a single vehicle.

Despite the drop in sales of electric vehicles in 2020, their demand is projected to grow in the long term, as batteries become more affordable and the charging infrastructure becomes more widely available. This trend in electric vehicle production and distribution is expected to have a significant impact on the wire harness market.

Furthermore, the increase in electrical and electronic features in modern vehicles is placing more emphasis on wiring harnesses that transmit power and signals between actuators, sensors, and ECUs. The continued development of advanced driver assistance systems (ADAS) and electric powertrains has been particularly impactful, as they require additional sensor hardware and specialty wiring to transmit data and power. Furthermore, increasing demand for driver assistance systems and electrically propelled cars are driving growth in the wire harness manufacturing industry.

Wire Harness Market: Prominent Regions

The demand for wire harnesses in the Asia Pacific region is estimated to expand at a faster pace than any other region. Europe and North America hold a prominent position in the overall wire harness market due to rising application of wire harnesses across myriad verticals, including transportation, automobiles, appliances, and electrical equipment in prominent countries, which include the U.S., the U.K., Canada, France, Germany, and various other European countries. The explosive trend of electric vehicles and their adoption across the globe is likely to boost the growth of the wire harness market all over the globe.

Wire Harness Market: Key Players

Key players operating in the global wire harness market are Aptiv Plc, Fujikura Ltd. Furukawa Electric Co., Lear Corp. LEONI AG, THB Group, Yazaki Corporation, Sumitomo Electric Industries Ltd., Motherson Group, and AmWINS Group Inc.

Global Wire Harness Market: Segmentation

Wire Harness Market, by Product Type

  • Wire Harness Connector
    • Wire to Wire
    • Board to Board
    • Board to Wire
  • Wire Harness Terminal
    • Ring Terminal
    • Spade Terminal
    • Hook Terminal
    • Bullet Terminal
    • Others

Wire Harness Market, by Material

  • PVC
  • Vinyl
  • Thermoplast Elastomer
  • Polyurethane
  • Polyethylene

Wire Harness Market, by Application

  • Automotive
    • Trucks & Bus
    • Motorbikes & Scooters
    • Fleet Truck Cargo Van
    • Electric Vehicles
    • Others (Recreational Vehicles, etc.)
  • Marine and Marine Engine
  • Aerospace & Defense
  • Military Machines
  • Gaming & Amusements
    • Electronic/Casino Gaming Machines
    • Amusement Vending Machines
    • Crane & Gift Gaming Machines
    • Others (Medal Gaming Machines, etc.)
  • Medical Equipment & Devices
  • Commercial Refrigeration & Food Machines
  • Consumer Technology & Durables
    • Computing Devices
    • Networking & Communication
    • Appliances
    • Lawn & Garden Equipment
    • Others (Other Consumer Electronics)
  • Fitness Equipment/Machines
  • Power & Energy
    • Power Generation (Large Engine)
    • HVAC Equipment
    • Solar Panels
  • Agricultural Equipment
  • Industrial
    • Automation Equipment/Robotics
    • Construction Equipment
    • Material Handling Equipment
    • Fuel Dispenser System
    • Production Machinery
    • Floor Scrubbers
    • Ride On
    • Battery Operated
    • Electric Motors
    • Others
  • Mechanical Lifts
  • Elevators & Escalator
  • Battery
  • Others

Wire Harness Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

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