Automotive Engine Wiring Harness Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

The automotive engine wiring harness market share is expected to increase by USD 1.34 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.33%.

This automotive engine wiring harness market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive engine wiring harness market segmentations by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA). The automotive engine wiring harness market report also offers information on several market vendors, including Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Kyungshin Co. Ltd., Lear Corp., Leoni AG, Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, and Sumitomo Electric Industries Ltd. among others.

What will the Automotive Engine Wiring Harness Market Size be During the Forecast Period?

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Automotive Engine Wiring Harness Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing penetration of automotive electronics is notably driving the automotive engine wiring harness market growth, although factors such as reliability issues leading to product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive engine wiring harness industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Engine Wiring Harness Market Driver

The increasing penetration of automotive electronics is notably driving the automotive engine wiring harness market growth. The global automotive electronics market is estimated to grow at a CAGR of more than 8% during the forecast period. The extensive use of automotive electronics is primarily driven by the growing focus on fuel efficiency and reduction of vehicular emissions, and the increasing demand for advanced safety systems. Currently, automotive electronics function as core components of various onboard systems in vehicles, which include sensors, ECUs, and wiring harnesses. This is evident from the increasing amount of engine wiring harnesses being used in modern automobiles. The usage per vehicle is increasing every year, which is contributing to revenue generation in the market in focus.

Key Automotive Engine Wiring Harness Market Trend

The advances in autonomous vehicles is the key trend driving the automotive engine wiring harness market growth. Automotive OEMs, tier-1 suppliers, and shared mobility service providers have been testing vehicles with autonomous technologies. The growing funding to develop autonomous technologies is expected to continue during the forecast period, which will be crucial in fueling the growth of the market in focus. This is because autonomous vehicles use high levels of automation systems, including connectivity car technologies. Such systems generate high volumes of data and require advanced, and high-voltage engine wiring harnesses for optimum performance. Therefore, the growing developments and move toward self-driving vehicles are acting as growth enablers for the global automotive engine wiring harness market.

Key Automotive Engine Wiring Harness Market Challenge

The major challenge impeding the automotive engine wiring harness market growth is the reliability issues leading to product recalls. The global automotive engine wiring harness market is facing reliability issues, which had led to vehicle recalls in the past. Instances of vehicle recalls have over the past five years, where automotive OEMs voluntarily recalled vehicles owing to issues related to wiring harnesses. Such vehicle recalls highlight reliability issues, which pose safety concerns and inhibit the growth of the market in focus. Some of the recent recalls of vehicles by automotive OEMs, owing to issues related to wiring harnesses are

• In August 2019, BMW AG recalled more than 41,000 BMW 1 Series models for faulty wiring.
• In July 2019, Ford Motor Co. made a voluntary recall of more than 50,000 vehicles in India to inspect potential defects in airbags and wiring harnesses of batteries.

Such reliability and safety concerns increase the number of vehicle recalls and inhibit the market growth.

This automotive engine wiring harness market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive engine wiring harness market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive engine wiring harness market during the forecast period.

Who are the Major Automotive Engine Wiring Harness Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aptiv Plc
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Kyungshin Co. Ltd.
• Lear Corp.
• Leoni AG
• Motherson Sumi Systems Ltd.
• Nexans SA
• Precision Cable Assemblies LLC
• Sumitomo Electric Industries Ltd.

 

This statistical study of the automotive engine wiring harness market encompasses successful business strategies deployed by the key vendors. The automotive engine wiring harness market is fragmented and the vendors are deploying growth strategies such as focusing on improving the reliability and lifecycle of automotive engine wire harnesses to compete in the market.

Product Insights and News

• Leoni AG - The company offers a line of products such as Full EDS architecture, engine harnesses, technical sub harnesses, pre-formed harnesses, and overmoulded solutions among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive engine wiring harness market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Engine Wiring Harness Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive engine wiring harness market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Engine Wiring Harness Market?

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57% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive engine wiring harness market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The per capita income has increased the purchasing power of consumers, leading to higher automobile sales which will facilitate the automotive engine wiring harness market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of the COVID-19 pandemic in the region hindered the growth of the regional automotive engine wiring harness market. Additionally, the prevailing trade-related conflicts between China and a few other countries, such as the US, are compelling Chinese manufacturers to reduce their production volumes for automotive engine wiring and harness. This is expected to hamper the growth of the market in focus in the region during the forecast period. Nevertheless, with industries implementing stringent preventive measures to protect employees working onsite from COVID-19, industrial activities are expected to resume to pre-COVID-19 levels only by the end of 2021. This will lead to a recovery in manufacturing activities, which will drive the production and sales of automotive engine wiring harnesses in the region during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Engine Wiring Harness Market?

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The automotive engine wiring harness market share growth by the passenger cars segment will be significant during the forecast period. During the forecast period, passenger cars are expected to see increased adoption of infotainment and advanced driver assistance systems (ADAS). The market growth will be fueled by the increased demand for electric vehicles (EVs). This will lead to increased demand for the automotive engine wiring harnesses market by passenger cars.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive engine wiring harness market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Engine Wiring Harness Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 5.33%
Market growth 2021-2025	$ 1.34 billion
Market structure	Fragmented
YoY growth (%)	4.59
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 57%
Key consumer countries	China, US, Germany, Japan, and South Korea (Republic of Korea)
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aptiv Plc, Fujikura Ltd., Furukawa Electric Co. Ltd., Kyungshin Co. Ltd., Lear Corp., Leoni AG, Motherson Sumi Systems Ltd., Nexans SA, Precision Cable Assemblies LLC, and Sumitomo Electric Industries Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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.

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What are the Key Data Covered in this Automotive Engine Wiring Harness Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive automotive engine wiring harness market growth during the next five years
• Precise estimation of the automotive engine wiring harness market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive engine wiring harness industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive engine wiring harness market vendors

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