Automotive Wire Harness Market is Forecasted to Reach US$ 78.1 Billion in 2030, Says Stratview Research

Detroit, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The global automotive wire harness market is projected to witness a growth rate of 5.3% annually from 2024 to 2030, with an anticipated size of US$ 78.1 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive wire harness market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Automotive Wire Harness Market:

The global automotive wire harness market is segmented based on vehicle type, voltage type, product type, powertrain type, and region.

Based on vehicle type - The automotive wire harness market is broadly segmented into light vehicles and commercial vehicles. Light vehicles are expected to remain dominant as well as the fastest-growing vehicle type in the market during the forecast period. Consumer preferences for vehicles with advanced safety features, such as collision avoidance systems, adaptive cruise control, and autonomous emergency braking, drive demand for modern wire architectures with enhanced compatibility. Increasing disposable incomes, growing urbanization, and rising aspirations for personal mobility, along with supportive government policies and incentives, are fueling the demand for light vehicles.

Based on the product type - The market is segmented based on product type into copper core, aluminum core, and others. Copper core is expected to remain the dominant product type in the market during the forecast period. Copper core is the preferred material for various automotive applications due to its high strength, excellent ductility, significant current load-carrying capacity, and low resistivity. These properties ensure reliable performance in demanding conditions, making copper ideal for wiring systems, electrical components, and power distribution networks within vehicles. The superior conductivity of copper enhances efficiency, while its durability and flexibility support the complex and compact designs required in modern automotive engineering.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for automotive wire harness during the forecast period. This growth outlook is majorly attributed to the following: 

• China is the global manufacturing hub for the automotive industry, hosting a large number of automotive OEMs, which drives substantial demand for electrical systems, including cables & wires.
• The rising adoption of EVs is leading to increased demand for high-voltage and modular architecture wires & cables essential for electric powertrains.
• India's auto industry is accelerating due to rising demand, government support, and a shift towards electric vehicles, making it the fastest-growing country during the forecast period.

Automotive Wire Harness Market Drivers:

Some of the key drivers listed in the report are given below.

• The integration of ADAS in vehicles necessitates sophisticated wire harnesses for seamless communication and connectivity.
• The increasing EV production boosts demand for complex and high-voltage wire harness systems.
• The shift toward electrified components in modern vehicles drives the demand for durable and efficient wire harnesses.
• Innovations in lightweight and heat-resistant materials enhance wire harness performance and fuel efficiency.

Top Companies in the Automotive Wire Harness Market:

The market is highly consolidated with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. Some of the major players are providing a complete range of services including wires, cables, and related electronic components. Stratview Research has identified the following companies as the top market players:

• Sumitomo Electric Industries, Inc.
• Yazaki Corporation
• Leoni AG
• Aptiv plc
• Fukura Electric
• Lear Corporation
• Dräxlmaier
• TE Connectivity
• Coficab
• Coroplast Fritz Müller GmbH & Co. KG
• Kyungshin Corporation

What Deliverables Will You Get in this Report?

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Related Reports:

• Electric Vehicle Wire Harness Market

• High-Voltage Automotive Wire Harness Market

About us:

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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