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Automotive Wiring Harness Market Market Analysis & Opportunity Assessment, 2014 - 2020

Oct 15, 2014 | Chemicals & Materials | FMI

Automotive wiring harness is the assembly of various cables or electrical wires according to the power circuit design for transfer of electrical power and signals to instruments, equipment or devices. These wires are tied to suitable knots, tapes, and connectors as per color codes and numbers to avoid tangling and enable easy fault finding in case of failure. Advancement in digital features, driver assistance systems, comfort features, active safety systems, in-car entertainment systems, GPS systems, and other electronic and automation systems in light and heavy commercial vehicles has raised the need for sophisticated wiring harness systems in the automotive industry. The components of a wiring harness process include cables, wires, connector systems, terminal systems, transfer switches, power and signal amplifier and distribution systems, control systems, jumper harness, electronic signal integration technologies, and other required peripherals.

With the addition of features and designs of new vehicle models, the wiring harness segment is undergoing constant changes. The segment lacks standardization and requires a manual inspection process at each stage. Commonly witnessed trends in the industry are modular design, use of CAD and 3D modeling, re-using wiring materials at the end of their service lives, and designing rule checks. Growth in the wiring harness market is expected to be inline with global automobile production volumes and growing aftermarket and replacement opportunities. Global automotive production is projected to grow between CAGR of 5% and 7% in the coming years and an above average growth is expected to take place in the Asian region. The wiring harness market is expected to follow similar growth trend in the coming years. Some of the major players identified in the market are Delphi, Yazaki, Furukawa Electric, Fujikura, Lear, and others.