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Automotive Wiring Harness market Size, Share, Growth Analysis, By Category, By Propulsion Type, By Application
WESTFORD, MA, UNITED STATES, October 16, 2024 /EINPresswire / -- Automotive Wiring Harness Market size was valued at USD 50,266.88 million in 2022 and is poised to grow from USD 51975.95392 million in 2023 to USD 67915.16 million by 2031, growing at a CAGR of 3.4% during the forecast period (2024-2031).
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One of the key reasons propelling the global automotive wiring harness market growth is the automobile industry's rapid global expansion because of various technologically advanced features installed in automobiles. Accordingly, the market is anticipated to develop throughout the projected period due to factors such as rising vehicle electrification, rising demand for and use of hybrid and electric vehicles, and an increasing focus on safety solutions.
The growth of the global automotive wire harness market is primarily propelled by the increasing production of automobiles, greater safety measures required, and the addition of electric and hybrid vehicles. Use of light materials, automation of manufacturing processes, and growing relevance of connection and IoT in automotive designs are all some trends.
Rising Tide of Automotive Wiring Harness Solutions in the Age of Electric Mobility
.In September 2024, Delphi Technologies and Yazaki, among others, have established strategic partnerships to enhance their electric vehicle (EV) manufacturing capabilities. This collaboration, they assert, is necessary due to growing demand for lightweight, high-performance wire solutions, and also positions them well for the expected surge in EV sales over the next five years.
.In August 2024, Motor vehicle parts manufacturers such as Bosch and Lear Corporation have made public their intentions to invest in the smart wiring harness technologies. The said development is expected to advance the automation and connectedness of vehicles which is anticipated to cause major growth in the market. For the next four to five years, these developments are expected to change the perception of wire solutions with the evolution of the automotive industry.
The following are the key Automotive Wiring Harness Trends that will shape the growth of the market in the next 5 years
Advanced Wiring Harness Technologies in Shaping Autonomous Vehicles for the Next Decade
.Prominent vehicle wiring harness manufacturers such as Furukawa Electric and Sumitomo Electric have announced that come October 2024 they shall be investing into the use of eco-friendly alternatives for their products. The statement on the changing market dynamics hints towards an expectation in this shift in production techniques favoring greener methods in the automobile industries over the period of the next decade.
.In November 2024, major players in the industry such as Aptiv and Continental presented cutting-edge wiring harness innovations intended for self-driving cars. It is anticipated that these developments, which concentrate on improved communication and data transfer, would completely transform the purpose and appearance of automobiles. Over the next ten years, the automotive wire harness market will be significantly impacted by these improvements in automation.
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Innovations Shaping the Automotive Wiring Harness Market as It Adapts to Electrification
Nexans and Tesla made a statement in December 2024 about partnership to manufacture non-weight wiring harnesses, both to increase efficiency as well as to reduce weight of the vehicle in general. Moreover, in January 2025, Valeo presented its latest modular wiring harness technology which helps manufacturers' scalability considerably when they are switching between different models of vehicles. At the same time, in February 2025, Hitachi Automotive Systems declared its intention to enhance the automation and accuracy of the Wiring Harnesses production by incorporating AI technology. In addition, given the trends of the automotive industry evolving towards electrification and advanced technologies in recent years, these advancements are believed to be major supporting factors in the growth of the automotive wire harness market in the near future, allowing more efficiency, sustainability, and collaboration than ever before.
This report covers the following segments:
A. Category
1 Wires
B. Propulsion Harness
The report covers the following Electric Industries, Ltd. Corporation Plc AG Electric Corporation (United Ltd. Group & Griller Group Group & Schubert GmbH Dräxlmaier GmbH Corporation (United Fritz Müller GmbH & Co. KG Co. Ltd. (Japan)
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Industry moving Towards Sustainability, Electrification, and Autonomous Mobility
The global automotive wiring harness market is anticipated to witness strong growth as a result of the expansion of the automobile sector and an increasing preference towards electric and hybrid vehicles. Major companies such as Nexans, Aptiv, and Yazaki are focusing on new technologies, green materials and teaming up with other companies in order to meet the changing requirements of light weight high performance wiring. Vehicle designs are set to change significantly in the next ten years as the rise of automation and connectivity tends to create new designs of vehicles. This also presents great optimism for a more sustainable and efficient future, which in turn puts the sector of automotive wiring harness manufacturing in the center of the automotive revolution.
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