Automotive wiring harness is an assembly of cables used in the integration of various electronic components. Also known as cable assembly, it helps in transmitting power to different modules in an automotive. It is one of the main components as it handles the complete current flow across all the components of a vehicle including its lights, wipers, electrical devices and other electronic components. Technical developments in the automotive segment have augmented the fitting trend of many high end microelectronics and security features into the automobile. The automotive wiring harness facilitates safe, compact and simple functioning of the electronic devices installed in the automobile.
Drivers, Restraints & Trends
The global automobile industry registered an annual growth rate of over 5.5% from 2010 to 2015, and is estimated to be valued at US$ 5.1 Trn by end of 2015, which in turn is expected to fuel the global demand for automotive wiring harness. Increasing fuel costs and stringent government regulations regarding CO2 emissions are boosting demand for electric vehicles in regions such as North America, Western Europe, Eastern Europe and Asia Pacific. Governments across various geographies have mandated use of certain electronic safety features, such as Anti-Lock Braking System (ABS), Electronic Stability Program (ESP) and other features, in automotive. Furthermore, increase in demand for high-end electronic and safety features in vehicles, particularly passenger cars, along with cost reduction and enhanced reliability, is leading to rise in demand for automotive wiring harnesses globally. Use of automotive Ethernet by automotive OEMs represents a new trend in the external as well as internal electronic devices connectivity in an automobile. These automotive Ethernets minimise the use of complex wiring harness structures to a great extent and, thereby, may act as a restraint for growth of the global automotive wiring harness market in the coming years. Growing demand for connectivity and car digitisation, which not only helps establish connectivity within the integral parts of a vehicle but also enables communication with other vehicles through improved and intelligent roadway infrastructure, is an emerging trend in the market.
Analysis, by Geography
Geographically, the global automotive wiring harness market is segmented into seven regions: North America, Western Europe, Asia Pacific Excluding Japan, Latin America, the Middle East and Africa and Latin America. Of these, the most prominent regional markets are North America and Asia Pacific, which together constituted around 60.4% value share of the overall market in 2014. Asia Pacific is expected to remain the most dominant automotive wiring harness market globally, throughout the forecast period. Increasing penetration rate of high-end electronic features in passenger cars and growing demand for light and heavy vehicles in Asia Pacific countries is driving growth of the market for automotive wiring harness in this region. Furthermore, China is expected to register the highest Y-o-Y growth during the forecast period in Asia Pacific, due to factors such as rise in automotive production, growing awareness about vehicle safety, and increasing popularity of vehicle infotainment in the country.
In North America, the U.S. is estimated to dominate the automotive wiring harness market, accounting for over 80.0% value share of the overall market by the end of 2015. This is attributed to the flourishing automotive industry in the region. Automotive OEMs in North America are focused on reducing space and operational complexity, due to stringent government regulations regarding carbon emission, thereby giving rise to demand for compact wiring harnesses in vehicles in the region.
In Western Europe, Germany is estimated to dominate the Western Europe automotive wiring harness market, accounting for over 35% value share of the overall market by 2015 end. This is attributed to the expanding automotive industry in the region.
The Eastern Europe and Latin America markets are expected to expand at a comparatively higher CAGR than the other regions.
Analysis, by Segment:
On the basis of vehicle type, the global automotive wiring harness market is segmented into five segments: passenger vehicles, commercial vehicles, electric vehicles, hybrid vehicles and two wheelers. Of these, passenger vehicles was the most prominent segment, accounting for approximately 67.0% value share of the overall market in 2014.
The passenger vehicles segment is sub-segmented into mid-size vehicles, premium vehicles, luxury vehicles, sports utility vehicle and sports car. Furthermore, the passenger vehicles segment is expected to remain the most dominant segment in the global automotive wiring harness market throughout the forecast period.
On the other hand, the commercial vehicles segment is projected to account for over 20.0% share of the incremental $ opportunity in the global automotive wiring harness market during the forecast period. The commercial vehicles segment is further sub-segmented into light commercial vehicles, heavy commercial vehicles and buses & coaches.
In terms of revenue, the hybrid vehicles and electric vehicles segments are expected to register significant CAGR between 2015 and 2025, in view of the stringent government regulations and growing fuel prices.
On the basis of application type, the market is segmented into chassis & safety, body, HVAC, engine and sensors, of which, the HVAC segment is expected to expand at the highest CAGR of 10.1% in terms of value during the forecast period. By 2015 end, the chassis & safety application segment is estimated to account for over 40.0% value share of the global market. The segment is expected to continue its dominance in the global market till the end of 2025. Furthermore, the chassis & safety segment is sub-segmented into conventional chassis, semi-forward chassis and full-forward chassis; whereas, the body harness segment is sub-segmented into roof, door & window, facia, seat and interior.
Key players considered in the global automotive wiring harness market are YAZAKI Corporation, Aisin Seiki Co., Samvardhana Motherson Group (SMG), Delphi Automotive PLC, Fujikura Ltd., Sumitomo Electric Industries, Ltd., Lear Corporation, LEONI AG, Furukawa Electric Co., Ltd. and PKC Group PLC.
Global Automotive Wiring Harness Market Size (US$ Mn), 2014 and 2025
This Future Market Insights report examines the ‘Global Automotive Wiring Harness” market for the period 2014-2025. The primary objective of the report is estimation of market potential of the automotive wiring harness market, examining the marketing efforts and to identify the market opportunities in the global automotive wiring harness market.
The global automobile industry registered an annual growth rate of over 5.5% from 2010 to 2015, and is estimated to be valued at US$ 5.1 Tn by end of 2015, which in turn is expected to fuel the demand for automotive wiring harness market. Furthermore, increase in demand of high-end electronic and safety features in vehicles, particularly passenger cars, along with cost reduction and enhanced reliability is leading to rising demand for automotive wiring harnesses market.
The report depicts the marketing strategies undertaken by the wiring harness manufactures, which are significantly driving the global automotive wiring harness market. This study analyses, estimates and forecasts the global automotive wiring harness market from the consumption perspective, in terms of revenue (US$ Mn) during the forecast period from 2015 to 2025. The report also highlights the impact of various drivers and restraints in the concerned regions, during the forecast period.
Automotive wiring harness is one of the main components as it handles the complete current flow across all the components of a vehicle including its lights, wipers, electrical devices and other electronics components. Technical developments in the automotive segment have augmented the fitting trend of many high end microelectronics features and security features in the automobile. The automotive wiring harness is useful in connected cars, it helps to communicate with the vehicle, useful in connecting safety electronic devices and safeguarded against the impact of vehicular vibrations.
To understand and assess the opportunities in this market, the report is categorically divided under various sections such as market analysis, by region (North America, Western Europe, Eastern Europe Asia Pacific Excluding Japan, Latin America, Japan and the Middle East & Africa), by application type into chassis & safety (includes conventional chassis, semi-forward chassis and full-forward chassis), body (includes roof, door & window, facia, seat and interior), heat ventilation and air-conditioning (HVAC), engine and sensors, by vehicle type into passenger vehicles (includes midsize, premium, luxury, sports utility vehicle and sports), commercial vehicles (includes light commercial vehicles, heavy commercial vehicles and buses & coaches), electric vehicles, hybrid vehicles, two wheelers and competitive landscape (inclusive of competition dashboard and company profiles).
The report starts with an overview of the automotive wiring harness across the globe, its importance and key features. In the other sections, FMI covers the key trends, drivers and inhibitors from supply and demand perspective. It also covers the market opportunities in the automotive wiring harness market. Impact analysis of the key growth drivers and inhibitors, based on the weighted average model, is included in the report to better equip and arm clients with crystal clear decision making insights.
The next section of the report analyses the market based on vehicle type and application type and presents the forecast in terms of value for the next 10 years.
Regions covered in the report include:
To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as regional split and market split, by segment, and qualitative inputs from primary respondents have also been incorporated to arrive at appropriate market estimates.
The forecast presented here assesses the total revenue generated in the automotive wiring harness market. While forecasting the market, sizing the current market is considered to be the starting point, which forms the basis for the forecast, as to how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the data via different analyses, based on supply side, demand side, and dynamics of the related markets. However, quantifying the market on the basis of the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities in the automotive wiring harness market.
Another key feature of this report is the analysis of the automotive wiring harness market, by region, and its revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global automotive airing harness market.
Furthermore, to understand the key growth segments in terms of growth & performance of automotive wiring harness market, Future Market Insights developed the market attractiveness index. The resulting index should help providers identify real market opportunities.
Few of the market players featured in the section include: