Market players are focusing on designing novel eco-friendly devices to adhere to the environmental standards and launching new innovating designs.

The global automotive wiring harness market is anticipated toexpand at an impressive CAGR of 8.7% over the forecast period, 2015-2025. The market expansion is fueled by the increasing manufacturing of vehicles along with several technologically advanced attributes installed in vehicles.

“Several OEMs in the market are constructing new production facilities equipped with automated machines for the production of wiring harnesses in an emerging nation such as Japan and India due to its low labor rates.,” says an FMI analyst.

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Automotive Wiring Harness Market – Key Highlights

• APEJ will reflect a higher CAGR of 10.4% among other regions over the assessment period and is likely to uphold its revenue share dominance by 2025 end.
• Passenger vehicles segment will be exhibiting an impressive 8.6% CAGR over the assessment period.
• Chassis & safety application type segment will remain a key beneficiary in terms of revenue in the market, holding over 40.8% of the overall share market.

Automotive Wiring Harness Market – Drivers

• Rise in usage of safety sensors, such as automated steering control systems and blind-spot detection, offers ample growth opportunities for the market.
• Growing demand for vehicular emission levels and fuel efficiency is catalyzing the market growth, furthermore, progressions in the market will result in eco-friendly and fuel-efficient vehicles.
• Rising trend for car digitization and connected cars through improved and intelligent roadway infrastructure, are paving ways for market expansion.

Automotive Wiring Harness Market – Restraints

• Automotive Ethernets minimize the usages of complex wiring harness structures and, thus, might act as a constraint for market growth
• Short circuit or overheating of the wiring harness in regions with extreme weather conditions, such as snow and rain ensue in higher replacement cost, which is hampering the market expansion.

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COVID-19 Impact on the Market

The COVID-19 outbreak has taken a huge toll on the automotive sector in addition to the automotive wiring harness market. With initial disruptions in the supply chain to halts in production to plummeting demand, the market reflects an uncertain recovery timeline.

Competitive Landscape

Major companies operating in the global automotive wiring harness market are, Furukawa Electric Co., PKC Group PLC YAZAKI Corporation, Samvardhana Motherson Group (SMG), Fujikura Ltd., Delphi Automotive PLC, Sumitomo Electric Industries, Ltd., LEONI AG, Aisin Seiki Co. Ltd and Lear Corporation.

Companies are focusing on various activities, such as growing investments in product and technological developments, mergers and acquisitions, brand building through strong marketing strategies and geographical expansion, to sustain their position in the competitive market.