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The Asia Pacific Automotive Wiring Harness Market size is estimated to grow by USD 6.59 billion at a CAGR of 4.88% between 2022 and 2027. The increasing penetration of automotive electronics, driven by factors such as the integration of advanced safety and infotainment systems, is leading to a greater demand for electronic components and systems in vehicles. The increasing demand for battery electric vehicles (BEVs), fueled by environmental concerns and government incentives, is driving growth in the market for electric vehicle components, including batteries, motors, and power electronics. The increasing use of advanced materials for wire harnesses, such as high-performance polymers and lightweight metals, is enabling the development of more efficient and reliable wiring systems for vehicles, further driving growth in the market. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This APAC automotive wiring harness market research report extensively covers market segmentation by vehicle type (passenger vehicles and commercial vehicles), application (chassis, engine, HVAC, sensors, and body), geography (China, Japan, South Korea, India, and the Rest of APAC).
The passenger vehicles segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of advanced automotive systems across passenger vehicles (PVs) especially in engines, chassis, brakes, transmission, steering, and other systems. As a result, there is a rising requirement for wiring for such systems in order to transfer data and signals from the sensors to the control unit. Thus, the increasing adoption of electronic components in passenger vehicles will significantly contribute to the market growth.
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The passenger vehicles segment was the largest segment and was valued at USD 16.49 billion in 2017. Some of the key classifications of the passenger vehicle segment include entry-segment, mid-segment, and premium or luxury-segment vehicles. The amount of wiring harnesses used varies from segment to segment due to the difference in the requirement of electric components and systems in various segments of vehicles. For instance, there is a high requirement for high volumes of wires, terminals, connectors, and harness assemblies in mid-segment and luxury-segment vehicles due to the use of advanced powertrain, safety, comfort, and convenience systems in these vehicles. Hence, such factors are fuelling the growth of this segment which, in turn, will drive the market growth during the forecast period.
The market is crucial for ensuring the safety and performance of modern vehicles, especially with the increasing electrification seen in hybrid and electric cars. These harnesses play a vital role in connecting various electrical and electronic components, including sensors, HVAC systems, and ADAS. With the advancement of technology, these harnesses are becoming more complex to accommodate the growing number of electronic devices in vehicles. Manufacturers are focusing on innovative assembly techniques to meet the demands of the automotive industry for efficient and reliable wiring solutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increasing penetration of automotive electronics. The rising adoption of electronics in automobile design and production, including risky habits, window labels, and crash testing, is a key driver propelling the APAC automotive wiring harness market. The automotive industry's technological advancements and enhancements have integrated automotive electronics as a fundamental component of vehicles, including vehicle performance, electrical devices, heating, ventilation, air conditioning (HVAC) systems, speed sensors, and electronic components, in line with the electrification of vehicles and the rise of hybrid and electric cars. This trend is driven by a focus on enhancing fuel efficiency, reducing vehicle emissions, and meeting the growing demand for advanced safety features. These factors are anticipated to boost the market's growth in the Asia-Pacific region throughout the forecast period.
A key factor shaping the market is the advances in autonomous vehicles. There has been an increase in R&D in autonomous vehicles over the past few years. Thus, such R&D activities and developments are significantly contributing to the Asia-Pacific automotive wiring harness market growth. In addition, there is an increasing demand for advanced wiring harnesses due to the advanced connectivity and electronic systems in autonomous vehicles.
Moreover, there has been a significant development in terms of prototype development and testing in the global autonomous vehicle industry. Several automotive OEMs, tier-1 suppliers, and shared mobility service providers are heavily testing the vehicles with autonomous technologies. Therefore the rising investments to develop autonomous technologies are expected to drive the growth of the market share during the forecast period.
Declining sales of automobiles are one of the key challenges hindering the market growth. In 2020, there has been a major setback in the automotive market in APAC in terms of volume. Therefore, the decline in automobile sales will negatively affect the market. Some of the key factors that resulted in the decline in sales of automobiles include trade tensions between the US and China, liquidity tightness, higher insurance and tax rates, political instability, and currency fluctuations in China and India.
Moreover, other factors that significantly impact the market in the region include inflation, supply chain bottlenecks, COVID-19 cases in some countries, and a significant shortage of semiconductor chips. Furthermore, the price-conservative nature of the population and the increasing popularity of car-sharing have also contributed to the decline in the volume of car sales. Hence, such factors are negatively impacting the APAC - automotive wiring harness market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by the demand for vehicles with Advanced features such as Adaptive Cruise Control (ACC), Blind-Spot Detection (BSD), Advanced Front Lighting (AFL), and Lane Keeping Assist (LKA). These features rely on sophisticated wiring systems that include Radar, 360-degree cameras, and Proximity sensors. The market is driven by Advanced features in vehicles such as Ambient lighting and Heated seats. Key technologies include Copper wiring harnesses, High-speed twisted pair cables, and Optical fiber cables. Challenges include Fluctuating copper costs. Major players like Tier 1 automotive companies and Stahlschmidt are involved, with emerging markets like Morocco’s Ministry of Industry and Trade showing potential.
As vehicles become more connected through the Internet of Things (IoT), wiring harnesses play a crucial role in ensuring safety and functionality. They are essential for meeting safety standards like the Bharat New Vehicle Safety Assessment Program (BNVSAP) and regulations set by the US National Highway Traffic Safety Administration (NHTSA). Additionally, wiring harnesses support the integration of Multimedia and security systems, Voice recognition systems, and other infotainment functionalities. With the shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs), the demand for high-quality wiring harnesses made of materials like High-strength aluminum and Copper wiring is expected to increase. Leading companies in the market include Yazaki Corporation, TE Connectivity, and Guchen Electronic.
The market is witnessing growth due to the increasing demand for advanced safety and comfort features such as Anti-lock Braking Systems (ABS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD). Additionally, the integration of technologies like Tire Pressure Monitoring Systems (TPMS), Lane Departure Warning Systems (LDWS), Automatic Emergency Braking (AEB), and Forward Collision Warning (FCW) is driving the market. The market is also influenced by the adoption of Traction Control Systems, CAN FD solutions, Ethernet solutions, and various communication protocols like CAN, LIN, CAN-FD, FlexRay, MOST, and LDS. As the automotive industry transitions towards electrification, the demand for Fiber optic technology and High voltage wiring harnesses is expected to increase. Major players like Tier 1 automotive companies, Intercable Automotive Solutions, and Intercable S are key players in this market.
APAC Automotive Wiring Harness Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.88% |
Market growth 2023-2027 |
USD 6.59 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.0 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aptiv Plc, Coroplast Fritz Muller GmbH and Co. KG, DENSO Corp., Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Lear Corp., Leoni AG, Minda Corp. Ltd., Nexans SA, Robert Bosch GmbH, Samvardhana Motherson International Ltd., Schaeffler AG, Sumitomo Electric Industries Ltd., Tianhai Auto Electronics Group Co. Ltd., Yazaki Corp., and YURA Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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