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U.S. And Europe Automotive Wiring Harness Market Size By Vehicle Type (Light Vehicles, Heavy Vehicles), By Application (Electric Wire, Connectors), By Component (Body, Chassis), By Geographic Scope And Forecast


Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

U.S. And Europe Automotive Wiring Harness Market Size By Vehicle Type (Light Vehicles, Heavy Vehicles), By Application (Electric Wire, Connectors), By Component (Body, Chassis), By Geographic Scope And Forecast

U.S. And Europe Automotive Wiring Harness Market Size And Forecast

U.S. And Europe Automotive Wiring Harness Market size valued at USD 14,949.49 Million in 2022 and is projected to reach USD 18,482.15 Million by 2030. The Market is projected to grow at a CAGR of 2.70% from 2024 to 2030.

Increasing adoption of electric and hybrid vehicles and Integration of advanced safety technologies are the factors driving the market growth. The U.S. And Europe report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

U.S. And Europe Automotive Wiring Harness Executive Summary

 The automotive wiring harness market, as a result of technological innovation and the evolution of the automotive industry, has played a a fundamental role in shaping the future of vehicular connectivity. The U.S. And Europe Automotive Wiring Harness Market is witnessing robust growth, driven by the escalating demand for advanced electronic systems in vehicles. The proliferation of electric and hybrid vehicles, coupled with the integration of sophisticated safety and connectivity features, propels the need for intricate and reliable wiring solutions. As automotive manufacturers embrace electrification, the complexity of wiring harnesses is further amplified, fueling market expansion.

The market is witnessing a paradigm shift towards lightweight materials and advanced designs to enhance fuel efficiency and accommodate the increasing complexity of electrical systems. Miniaturization and optimization of wiring harnesses are emerging trends, facilitating better space utilization within vehicles. Additionally, the integration of smart technologies, such as data communication networks and high-speed data transmission capabilities, is shaping the next generation of wiring harnesses. The market faces challenges related to the complexity of modern automotive systems, stringent regulatory standards, and the need for continuous innovation. Global supply chain disruptions, as witnessed in recent times, have underscored the importance of resilient and diversified sourcing strategies for wiring harness components.

Opportunities are abundant for market participants who can navigate the evolving landscape adeptly. The surge in electric vehicle (EV) adoption, the rise of autonomous driving technologies, and the demand for enhanced safety features present avenues for growth. Collaborations between automotive manufacturers and wiring harness suppliers to co-develop advanced solutions are becoming increasingly prevalent. The automotive wiring harness market is experiencing a transformative phase driven by technological advancements and the changing dynamics of the automotive industry. As vehicles become more electrified and connected, the demand for sophisticated, reliable, and space-efficient wiring solutions is set to escalate. Industry players poised to adapt to these trends and innovate in response to emerging challenges are well-positioned to thrive in this dynamic market.

The market size of the U.S. And Europe Automotive Wiring Harness Market stood at USD 14,949.49 Million in 2022 and is projected to reach USD 18,482.15 Million by 2030. The Market is projected to grow at a CAGR of 2.70%. Europe accounted for the largest market share of 60.08% in 2022, with a market value of USD 8,981.32 Million and is projected to grow at the highest CAGR of 2.93% during the forecast period. U.S was the second-largest market in 2022, with a value of USD 5,968.17 Million in 2022; it is projected to grow at a CAGR of 2.35%.

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U.S. And Europe Automotive Wiring Harness Market Segmentation Analysis

The U.S. And Europe Automotive Wiring Harness Market is segmented on the basis of Vehicle Type, Application, Component, and Geography.

U.S. And Europe Automotive Wiring Harness Market, By Vehicle Type

  • Light Vehicles
  • Heavy Vehicles

To Get a Summarized Market Report By Vehicle Type-

Based on Vehicle Type, The market is segmented into Light Vehicles and Heavy Vehicles. The U.S. And Europe Automotive Wiring Harness Market is experiencing a scaled level of attractiveness in the Light Vehicles segment. Light Vehicles accounted for the largest market share of 84.87% in 2022, with a market value of USD 12,687.30 Million and is projected to grow at the highest CAGR of 2.83% during the forecast period. Heavy Vehicles was the second-largest market in 2022, with a value of USD 2,262.19 Million in 2022; it is projected to grow at a CAGR of 1.93%.

In light vehicles, automotive wiring harnesses play a large role in ensuring the seamless integration of electrical systems. These harnesses navigate through the vehicle’s structure, connecting a myriad of components such as lighting systems, engine controls, sensors, and infotainment systems. They facilitate the operation of essential functions like headlights, taillights, turn signals, and interior lighting, enhancing visibility and safety. Additionally, wiring harnesses support the vehicle’s electronic control systems, contributing to efficient engine performance and drivability. Their design and organization are essential for optimizing the electrical architecture in light vehicles, providing reliability and functionality in diverse driving conditions.

U.S. And Europe Automotive Wiring Harness Market, By Component

  • Electric Wire
  • Connectors
  • Terminals
  • Others

To Get a Summarized Market Report By Component-

Based on Component, The market is segmented into Electric Wire, Connectors, Terminals, and Others. The U.S. And Europe Automotive Wiring Harness Market is experiencing a scaled level of attractiveness in the Electric Wire segment. Electric Wire accounted for the largest market share of 65.00% in 2022, with a market value of USD 9,716.84 Million and is projected to grow at the highest CAGR of 3.00% during the forecast period. Connectors was the second-largest market in 2022, with a value of USD 2,306.97 Million in 2022; it is projected to grow at a CAGR of 1.82%.

Electrical wires play a crucial role in the automotive wiring harness market, serving as the circulatory system for a vehicle’s electrical functions. Comprising of copper or aluminum conductors insulated with materials like PVC or cross-linked polyethylene, these wires facilitate the transmission of signals, power, and data between various components. The demand for lightweight and high-performance wiring has intensified, driven by advancements like electric vehicles and sophisticated onboard technologies. Ensuring durability, heat resistance, and efficient signal transmission, manufacturers focus on optimizing wire materials and designs to meet stringent automotive standards, contributing to the overall reliability and functionality of modern vehicle systems.

U.S. And Europe Automotive Wiring Harness Market, By Application

  • Body
  • Chassis
  • Engine
  • Sensors
  • HVAC
  • Others

Based on Application, The market is segmented into Body, Chassis, Engine, Sensors, HVAC, and Others. The U.S. And Europe Automotive Wiring Harness Market is experiencing a scaled level of attractiveness in the Body segment. Body accounted for the largest market share of 24.44% in 2022, with a market value of USD 3,653.21 Million and is projected to grow at a CAGR of 2.41% during the forecast period. Chassis was the second-largest market in 2022, with a value of USD 3,559.82 Million in 2022; it is projected to grow at a CAGR of 2.54%. However, Sensors is projected to grow at the highest CAGR of 4.29%.

The application of automotive wiring harnesses in the automotive body is integral to ensuring the seamless integration of electrical systems. These harnesses serve as intricate networks, delivering power and signals to various components within the body structure. In vehicles, they facilitate the operation of essential features such as lighting, central locking, power windows, and sensors. The wiring harnesses are meticulously designed to navigate through the complex contours of the vehicle’s body, providing organized and secure connections. Their role in supporting critical functions enhances safety, convenience, and overall operational efficiency, making them indispensable for the intricate electrical architecture within the automotive body.

U.S. And Europe Automotive Wiring Harness Market, By Geography

  • U.S
  • Europe

Based on Geography, the Market is classified into U.S. and Europe. The U.S. And Europe Automotive Wiring Harness Market is experiencing a scaled level of attractiveness in the Europe region. Europe accounted for the largest market share of 60.08% in 2022, with a market value of USD 8,981.32 Million and is projected to grow at the highest CAGR of 2.93% during the forecast period. U.S was the second-largest market in 2022, with a value of USD 5,968.17 Million in 2022; it is projected to grow at a CAGR of 2.35%.

Europe is a significant hub for automotive manufacturing, and as a result, the wiring harness market plays a pivotal role in supporting the region’s dynamic automotive landscape. Key factors driving the market include the increasing emphasis on electric vehicles, stringent emission regulations, and the integration of advanced driver-assistance systems. The demand for lightweight, high-performance wiring solutions is rising, aligning with the industry’s goals for fuel efficiency and sustainability.

Key Players

The “ U.S. And Europe Automotive Wiring Harness Market” study report will provide a valuable insight with an emphasis on the market. The major players in the market are; Delphi Technologies PLC (Aptiv PLC), Leoni AG, Yazaki Corporation, Nexans Autoelectric. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players.

Company Market Ranking Analysis

The company ranking analysis provides a deeper understanding of the top 3 players operating U.S. And Europe Automotive Wiring Harness Market. takes into consideration several factors before providing a company ranking. The top three players for the Delphi Technologies PLC (Aptiv PLC), Leoni AG, Yazaki Corporation. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various U.S. And Europe Automotive Wiring Harness Markets.

Company Regional/Industry Footprint

The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, Delphi Technologies PLC (Aptiv PLC) has its presence globally i.e., in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.

Ace Matrix

This section of the report provides an overview of the company evaluation scenario in the U.S. And Europe Automotive Wiring Harness Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )