Global Wire Harness Market Size, Drivers, Trends, Opportunities And Strategies – Includes Wire Harness Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The automotive industry’s growth is expected to drive innovation in wire harness manufacturing, propelling the market during the forecast period
The global wire harness market is expected to grow from $58.82 billion in 2022 to $63.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.39%. The wire harness market is expected to reach $78.52 billion in 2027 at a CAGR of 5.59%.
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Global wire harness Market Segments Include:
- By Product Type: Wire Harness Connector, Wire Harness Terminal, Other Products
- By Material: PVC, Vinyl, Thermoplast Elastomer, Polyurethane, Polyethylene
- By Vehicle Type: Passenger Cars, Commercial Vehicles
- By Application: Automotive, Telecom, Medical, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global wire harness market in 2021.
Major Market Players in the wire harness market include Fujikura Ltd., Samvardhana Motherson, Nexans S.A., Sumitomo Electric Industries, Yazaki Corporation, Yura Corporation, The Dräxlmaier Group, Furukawa Electric Co. Ltd.
In the wire harness market, process innovation has emerged as a key trend that is gaining traction. Major players in the wire harness market are focusing on providing innovative services such as automating the wire harness production process. For example, Zuken, a US-based software company, will launch the E3.series in April 2021. Harness Builder for E3.series is a cutting-edge method for managing the wire harness manufacturing process from start to finish. It includes enhancements to manufacturing documentation as well as the modularization of wire harness designs. It enables the designer to use intelligent designs to automate the harness documentation process, streamline the quoting process, and drive next-generation manufacturing processes.
The Wire Harness Global Market Report 2023 provides a wire harness market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The wire harness market forecast analyzes wire harness market size, wire harness market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A wire harness is an organised and systematic arrangement of cables contained within an insulating substance that is used to transfer electrical power and other signals. Straps, cable ties, insulation tape, and other materials bind these wires, allowing them to be easily installed in their various applications and protecting them from wear and tear.
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