The Wiring Harness Market is expected to register a CAGR of 6.43%.
Wire harnesses are compactly bundled wires and data circuits that function as the central structure of a vehicle. To ensure safety and basic functions (such as going, turning, and stopping), as well as providing comfort and convenience, automobiles are equipped with various electronics and electronic system, which operate using control signals running on electrical power supplied from the battery. The wire harness is the channel for the transmission of these signals and electrical power.
Some of the major factors driving the growth of the market are growing emphasis on safety solutions, rising demand and usage of hybrid and electric vehicles, and increasing electrification of vehicles. However, factors, such as reliability and durability issues may hinder the growth of the market. With the consistent rise in accidents in the country, both the consumers and government are showing high interests in advanced safety features, and are focusing on improving the safety systems of their vehicles, which, in turn, is expected to boost the wiring harness market in the region.
Scope of the Report
The Wiring Harness market report covers the growing demand and adoption of wiring harness in passenger cars and commercial vehicles, Technological developments, Latest Product Developments, and market shares of players operating in the market. The scope of the report includes:
|By Application Type|
|Comfort, Convenience, and Entertainment|
|Safety and Security|
|By Wire Type|
|By Vehicle Type|
Key Market Trends
Rising Demand from Powertrain Application
Connectors, terminals and wires in the powertrain system of a vehicle, are typically observed across a battery, engine control units, and motors connected in driveline/transmission system.
With the increasing demand for high-performance vehicles, the operating voltage across the above mentioned powertrain components increased from handling 48V to 800V. Therefore, the demand for high voltage connectors, robust terminals, and strong wire insulation increased in the electrification of the powertrain system of a vehicle.
In the current market, the high voltage connector manufacturers for automotive powertrain systems supply a wide range of products, which are capable of carrying maximum current from 36 A to 340 A at 85° C, and robust to withstand the temperatures from -40° C up to +140° C.
Also, the high voltage connectors are provided with greater compatibility in supporting cable diameter variants from 4mm² to 120mm².
To be in-line with increasing automotive trends, the manufacturers are consistently working on improving automotive high voltage connectors, in terms of miniature designing and connection with a reliable locking mechanism, along with an increase in their power handling capabilities.
For instance, Rosenberger has developed a connector HVR®420, which is the highest current carrying connectors in its product portfolio. It is capable of handling a maximum current of 450A at 85°C, and ensures a reliable connection with slide locking mechanism (CPA – Connector Position Assurance). The connector is used for charging and supercharging of electric vehicle batteries with up to 450 kWh.
With the rising electrification in powertrain system, due to the increasing demand for electric and hybrid vehicles in the automotive industry across the globe, the demand for high voltage wiring harness is likely to increase in the powertrain systems of the vehicles, during the forecast period.
The government of United States, China, France, and Germany has already implemented government laws and regulations for vehicular emission, and have commanded automobile manufacturers to use advanced technologies to combat high emission levels in vehicles. The emission level majorly depends on the overall weight of the car.
Aluminum is used for vehicle electrification for reducing the overall weight of the vehicle, which leads to enhancement in fuel economy and reduces the CO2 emissions. The lightweight property of aluminum is making aluminum more demanding than copper. Along with the large cross-section wires for power cables, where aluminum conductors are already in use, the intermediate aluminum cable cross section of 2.5 mm2 to 6.0 mm2 gives enhanced potential for vehicle implementation to achieve weight-saving targets.
The United States has one of the largest automotive markets in the world, and houses many global vehicle and auto part manufacturers. In 2017 alone, US light vehicle sales reached 17.1 million units. However, the light vehicle sales declined in 2017, compared to 2016; nevertheless, the country is again witnessing growth trend, owing to the improving job market, favorable tax laws, and rising demand for pick-up trucks, crossovers, and sports utility vehicles (SUVs).
With the growing concerns regarding both driver and passenger safety, along with the safety of the pedestrians, automobile manufacturers are becoming obligated to equip even their entry-level vehicles with numerous safety and driver-assistance systems. This, in turn, is creating demand for advanced driver safety systems, such as forward collision warning systems, blind spot detection, and lane departure warning system, amongst others.
Some of the major players dominating the market are Furukawa Electric, Aptiv PLC, Sumitomo Electric Industries, Yazaki, and THB Group, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
5. MARKET SEGMENTATION
5.1 By Application Type
5.1.2 Comfort, Convenience, and Entertainment
5.1.3 Safety and Security
5.1.4 Body Wiring
5.2 By Wire Type
5.3 By Vehicle Type
5.3.1 Passenger Cars
126.96.36.199 IC Engine Cars
188.8.131.52 Electric Cars
5.3.2 Commercial Vehicles
184.108.40.206 IC Engine Commercial Vehicles
220.127.116.11 Electric Commercial Vehicles
5.4.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.3 Asia Pacific
184.108.40.206 Rest of Asia-Pacific
5.4.4 Rest of the World
220.127.116.11 United Arab Emirates
18.104.22.168 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 LEONI AG
6.3.2 Yazaki Corporation
6.3.3 Aptiv PLC
6.3.4 Sumitomo Electric Industries, Ltd.
6.3.5 Lear Corporation
6.3.6 Samvardhana Motherson Group
6.3.7 Furukawa Electric Co. Ltd
6.3.8 Fujikura Ltd
6.3.9 Coroplast Fritz Müller GmbH & Co
6.3.10 Jiangsu Kyungshin Electronic Co. Ltd
6.3.12 THB Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS