Wire Harness Global Market Opportunities And Strategies To 2032

“Wire Harness Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on wire harness market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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Where is the largest and fastest growing market for wire harness? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The wire harness market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product Type: Wire Harness Connector; Wire Harness Terminal; Other Products

• 2) By Material: PVC; Vinyl; Thermoplast Elastomer; Polyurethane; Polyethylene

• 3) By Vehicle Type: Passenger Cars; Commercial Vehicles

• 4) By Application: Automotive; Telecom; Medical; Other Applications

• Companies Mentioned: Fujikura Ltd.; Samvardhana Motherson; Nexans S.A.; Sumitomo Electric Industries; Yazaki Corporation

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the wire harness market are Fujikura Ltd., Samvardhana Motherson, Nexans S.A., Sumitomo Electric Industries, Yazaki Corporation, Yura Corporation, The Draxlmaier Group, Furukawa Electric Co. Ltd., Lear Corporation, Leoni AG, Aptiv PLC., THB Group, Coroplast Fritz Muller GmbH & Co. KG, Cypress Industries, Molex LLC, Minda Corporation Ltd., Pacific Insight Electronics Corp. and Prysmian Group.

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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wire harness market is expected to reach $78.52 billion in 2027 at a CAGR of 5.59%.

The wire harness market consists of sales of wire-to-wire, board-to-board, board-to-wire, ring terminal, spade terminal, hook terminal, bullet terminal wire ties, lacing, insulation materials, custom colors, and heat-shrink coatings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.

Asia-Pacific was the largest region in the wire harness market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of wire harness are wire harness connector, wire harness terminal, and others made of PVC, vinyl, thermoplast elastomer, polyurethane, and polyethylene. Wire harnesses are connected to power sources or circuits via connectors, which are electromechanical devices that create a continuous electronic signal. Wire harness connectors are used to provide an uninterrupted electronic signal between a wire harness and a power source. The wire harness is employed in passenger cars and commercial vehicles. The wire harness is used in automotive, telecom, medical, and other applications.

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.

Process innovation has emerged as a key trend gaining popularity in the wire harness market. Major companies operating in the wire harness market are focused on offering innovative services such as automating the process of wire harness production. For instance, in April 2021, Zuken, a US-based software company introduced the E3.series. Harness Builder for E3.series is a state-of-the-art method for effectively handling the wire harness production process from start to finish. It includes improvements in the manufacturing documentation and modularization of wire harness designs. It helps the designer to apply intelligent designs to streamline the quoting process, automate the harness documentation process, and drive next-generation manufacturing processes.

In July 2021, Electrical Components International Inc., a US-based supplier of electrical distribution systems, control box assemblies, and other critical engineered components for various markets, acquired Promark Electronics for an undisclosed amount. Through this acquisition, Electrical Components International will acquire the high-voltage cable and assemblies ProEV™ platform used by commercial electric vehicle manufacturers and therefore be able to expand its manufacturing operations. Promark Electronics is a Canada-based designer and manufacturer of custom-built wire harnesses.

The countries covered in the wire harness market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The wire harness market research report is one of a series of new reports from The Business Research Company that provides wire harness market statistics, including wire harness industry global market size, regional shares, competitors with a wire harness market share, detailed wire harness market segments, market trends and opportunities, and any further data you may need to thrive in the wire harness industry. This wire harness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.