What is the current size and annual growth rate of the wire harness market?
The wire harness market size has grown strongly in recent years. It will grow from $65.81 billion in 2024 to $69.8 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the increased automobile production, the increased railway projects, and boost in construction spending.
The wire harness market size is expected to see strong growth in the next few years. It will grow to $91.39 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to supportive government initiatives, the surge in the adoption of electric vehicles, the growing use of renewable energy systems, and the rising urbanization. Major trends in the forecast period include focus on developing innovative products, new facility expansions, partnerships and collaborations, and increasing investments to improve financial strength and product portfolio.
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What have been the primary factors driving the wire harness market’s growth?
Growth in the automotive sector is driving the growth of the wire harness market going forward. The automotive sector refers to all the companies involved in manufacturing vehicles that, include two-wheelers, three-wheelers, and four-wheelers. The wiring harness is embedded in automobiles’ bodies, engines, and chassis and is essential for their efficient performance and safety. For instance, according to The Society of Indian Automobile Manufacturers (SIAM), an India-based not-for-profit body representing all major vehicle and vehicular engine manufacturers, total passenger vehicle sales in India increased from 2,711,457 to 3,069,499 units in April 2021 to March 2022. Commercial vehicle sales increased from 568,559 to 716,566 units. Sales of medium and heavy commercial vehicles increased from 160,688 to 240,577 units, and light commercial vehicles increased from 407,871 to 475,989 units from April 2021 to March 2022. Therefore, the growth in the automotive sector is driving the growth of the wire harness market.
What are the key segments within the wire harness market?
The wire harness market covered in this report is segmented –
1) By Product Type: Electric Wires, Connectors, Terminals, Other Products
2) By Material: PVC, Vinyl, Thermoplastic Elastomer, Polyurethane, Polyethylene
3) By Application: Automotive, Telecom, Medical, Other Applications
Subsegments:
1) By Electric Wires: Copper Wires, Aluminum Wires, Specialty Wires
2) By Connectors: Circular Connectors, Rectangular Connectors, Modular Connectors
3) By Terminals: Crimp Terminals, Solder Terminals, Insulated Terminals
4) By Other Products: Cable Assemblies, Heat Shrink Tubing, Protective Sleeves
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Which key players are shaping the wire harness market?
Major companies operating in the wire harness market include Aptiv PLC, Yazaki Corporation, The Dräxlmaier Group, Molex LLC, Leoni AG, Fujikura Ltd., Lear Corporation, Furukawa Electric Co. Ltd., Sumitomo Electric Industries Ltd., Nexans S.A., AME Systems Wiring Harnesses Australia, Spark Minda, Motherson, Yazaki Corporation, Sumitomo Electric Industries Ltd, Bucheon Industrial Co Ltd, TaeSung Electro-Circuit System, Kunshan Huguang Auto Electric Limited, THB Group, Shenzhen Deren Electronics Co Ltd, Shanghai JinTing Automobile Harness Co Ltd, Shenzhen Qiaoyun Electronics Co Ltd, Jiangsu Huakai Wire Harness Co Ltd, Delfingen Industry, era-contact GmbH, Ernst & Engbring GmbH, Lacon Electronic GmbH, SINBON Hypermotive Ltd, Nexans autoelectric GmbH, Zaklad Elektroniczny Omega Sp. z o.o, SEWS Hungary Wiring Harness Ltd, PGF Technology Group Inc, Absolute Quality Mfg Inc, Connective Design Inc, Precision Mfg Co Inc, Amphenol Canada, AQ Wiring Systems Canada Inc, Dena Technologies Inc, Kromberg & Schubert do brasil ltda, Furukawa electric group, Prysmian group, Motherson sumi systems limited, Amphenol TFC, Milectria, ECS Global Wire & Cable FZCO, Contronic
How will emerging trends drive the wire harness market throughout the forecast period?
Major companies operating in the wire harness market are developing innovative products, such as harness design and manufacturing software to enhance efficiency and precision in production. Harness design and manufacturing software refers to specialized computer applications that assist engineers and manufacturers in the design, development, and production of wire harnesses. For instance, in May 2023, Zuken Inc., a Japan-based software and consulting service company, launched Harness Builder 2023 for E3. series, an updated software designed to enhance wire harness design and manufacturing. This release features a modern user interface for improved usability, an auto dimensioning tool that simplifies segment dimensioning across harnesses, and enhanced handling of twisted pairs to reduce material waste. It also includes streamlined splice documentation, a cost and weight estimator for accurate quotations, and the ability to add customizable watermarks to drawings.
How do regional factors impact the wire harness market, and which region is the largest contributor?
The countries covered in the wire harness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Wire Harness Market Report 2025 Offer?
The wire harness market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A wire harness is an organized and systematic arrangement of cables inside an insulating substance used to transfer electrical power and other signals. Straps, cable ties, insulation tape, and other substances bind these wires, enabling easy installation of the wires in their various applications and protecting them from wear and tear.
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