Automotive Wiring Harness Market to Hit $73.71 Billion by 2030, Driving Advances in Vehicle Connectivity and Safety
Development of vehicles with advanced safety features and technological advancements drive the growth of the market.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 10, 2025 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Automotive Wiring Harness Market by Material (Copper, Aluminum, and Others), Propulsion (ICE Vehicles, Electric Vehicles, and Hybrid Vehicles), Vehicle Type (Two Wheeler, Passenger Cars, and Commercial Vehicles), Voltage (Low Voltage, and High Voltage), and Application (Body & Lighting, Engine, HVAC, Chassis, Dashboard & Cabin, and Others): Global Opportunity Analysis and Industry Forecast, 2021โ2030.” According to the report, the global automotive wiring harness industry was pegged at $47.61 billion in 2020, and is expected to reach $73.71 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
๐ฐ ๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ – https://www.alliedmarketresearch.com/request-sample/643
Electric vehicles operate on electric power, while reducing maintenance costs, and carbon emissions. Various countries across the world promote the use of electric vehicles to reduce the adoption of traditional gasoline fuel based vehicles and decrease their carbon footprint. Electric vehicles are integrated with high voltage wiring harnesses. The growth in demand for electric vehicles is expected to accelerate the demand for high voltage wiring harnesses to handle complex electric vehicle systems.
๐๐๐๐๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ-
Leoni AG
Fujikura Ltd.
NexansAutoelectricGmbh
Yura Corporation
SamvardhanaMotherson Group
Aptiv PLC
Lear Corporation
Yazaki Corporation
Furukawa Electric Co., Ltd
Sumitomo Electric Industries, Ltd
The copper segment to dominate by 2030-
By material, the copper segment accounted for nearly three-fourths of the global automotive wiring harness market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the high efficiency of copper in automobiles, electrification of vehicles, and rise in demand for larger vehicles, such as SUVs, and vans. The aluminum segment, however, would showcase the fastest CAGR of 6.4% by 2030. The adoption of aluminum-based wiring harnesses is expected to increase during the forecast period to reduce weight and costs associated with copper wiring harnesses and this drives the growth of the segment.
๐ฐ ๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ – https://www.alliedmarketresearch.com/purchase-enquiry/643
The ICE vehicles segment held the lion’s share in 2020-
Based on propulsion, the ICE vehicles segment held the lion’s share in 2020, contributing to more than four-fifths of the global automotive wiring harness market, and is expected to continue its lead during the forecast period. Increase in demand for passenger vehicles, development of passenger cars with advanced safety features, and growing demand from emerging economies drive the demand for the segment. However, the electric vehicles segment is expected to witness the highest CAGR of 7.5% by 2030. This is because various countries across the world are promoting the use of electric vehicles to reduce the adoption of traditional gasoline fuel-based vehicles and decrease their carbon footprint. The report also includes an analysis of the hybrid vehicles segment.
Asia-Pacific, followed by North America, to lead the trail in terms of revenue-
By region, Asia-Pacific, followed by North America, garnered the major share in 2020, contributing to nearly half of the global automotive wiring harness market, and is anticipated to continue its lead during the forecast period. This is owing to growth in demand for premium cars & advanced features in vehicles, increased disposable income in countries such as India & China, as well as rise in adoption of electric vehicles in the region. However, the LAMEA region is expected to witness the fastest CAGR of 6.6%. Factors such as the introduction of vehicle emission protocols and rise in the demand for fuel-efficient and eco-friendly vehicles drive the growth of the LAMEA automotive wiring harness market.
๐ฐ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/automotive-wiring-harness-market/purchase-options
Key Findings Of The Study
By material, the aluminum segment is anticipated to exhibit significant growth in the near future.
By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the two wheeler segment is anticipated to exhibit significant growth in the near future.
By voltage, the high voltage automotive wiring harness segment is anticipated to exhibit significant growth in the near future.
By application, the dashboard and cabin segment is anticipated to exhibit significant growth in the near future.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฌ๐ฎ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/in-car-infotainment-market – In-Car Infotainment Market Size, Share, Competitive Landscape and Trend Analysis Report, by Installation Type and Component : Global Opportunity Analysis and Industry Forecast, 2021-2028
https://www.alliedmarketresearch.com/traction-motor-market-A06635 – Traction Motor Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, Type and Power Rating : Global Opportunity Analysis and Industry Forecast, 2020-2027
https://www.alliedmarketresearch.com/automotive-switches-market-A11058 – Automotive Switches Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Design, by Vehicle Type, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2024-2033
https://www.alliedmarketresearch.com/in-car-infotainment-market – In-Car Infotainment Market Size, Share, Competitive Landscape and Trend Analysis Report, by Installation Type and Component : Global Opportunity Analysis and Industry Forecast, 2021-2028
๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.