Automotive Wiring Harness Market Industry Insights, Trends and Forecast upto 2019 - 2027
Booming Automotive Sector and Soaring Interest in Electric Vehicles to Drive Market
Wiring harnesses are extensively used in the automotive sector to transmit signals in various electrical applications. Although the adoption of wiring harnesses is high across a host of industrial sectors, the automotive sector is expected to be the most prominent end-use industry. The demand for automotive wiring harness is expected to grow at a steady pace, owing to consistent growth in the demand for automobiles across the world. Despite a few roadblocks on the economic front, the automotive industry across the world is on the path to recovery due to which, the automotive wiring harness market is also gaining significant momentum. The growing adoption of automotive wiring harness to enhance the performance of vehicles is expected to play a key role in the development of the automotive wiring harness market in the coming years.
Automotive wire harnesses are increasingly being used in motorbikes, three-wheelers, utility vehicles, cars, and other types of commercial vehicles. An automotive wiring harness is used to integrate electrical circuits in different types of vehicles, and is primarily designed to withstand all types of weather conditions. The blazing sales of utility vehicles across the world, soaring investments, and strategic partnerships among market participants in the automotive wiring harness market are some of the leading factors that are likely to propel the market growth during the forecast period.
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Advent of Software Tools Set Tone for Development of Wire Harness Designs
Within the automotive wiring harness market, traditional techniques deployed to design automotive wire harnesses were predominantly mechanical and time-consuming. However, with advancements in technology and the onset of new software tools, techniques used to design automotive wiring harness have evolved. Cutting-edge software tools have played an integral role in simplifying the design process and minimizing the number of design errors. Companies involved in the current automotive wiring harness market are increasingly focusing on the design aspects of the harness in accord with geometrical and electrical requirements of a vehicle. In addition, as the design of these automotive wire harnesses is stored in the central database, it streamlines the designing process in the future.
The adoption of the automotive wire harness is projected to gain further ground due to consistent demand from the aerospace sector. Software tools have played an essential role in designing new wire harnesses for rockets. For instance, in 2018, the Northrop Grumman Innovation Systems (NGIS) made use of advanced software tools to design a wire harness for NASA’s rocket. The shift in tide from the mechanical approach toward a digital approach as far as the design technique of automotive wire harness is concerned is expected to play a key role in boosting the prospects of the automotive wiring harness market during the assessment period.
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Adoption of Optical Fiber to Grow in Future
Within the automotive wiring harness market, although metallic wiring harnesses are set to have a higher market share and sales, the adoption of optical fibers, particularly plastic variants, is set to gain notable traction in the coming years. As optical fibers address a number of key challenges, including power, weight, and size, the next generation of automotive wire harnesses is expected to slowly move toward this path. In addition, optical fibers have emerged as an ideal solution to handle applications that require high-bandwidth and can handle Electro Magnetic Interference (EMI). Manufacturers in the current market landscape are investing resources for innovations and improved versions of wiring harnesses. In addition, as high-speed operation applications are set to become an integral part of the automotive sector, the demand for and adoption of optical fibers is set to gain significant momentum in the near future.
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Automotive Wiring Harness Market: Overview
- The global automotive wiring harness market is estimated to expand at a CAGR of ~6% during the forecast period, owing to significant expansion of the automotive industry in emerging nations, including India, Brazil, and those in ASEAN
- The automotive wiring harness market is presently focused on technology upgrades such as heat insulated wires and Ethernet cables. OEMs are emphasizing on the development of advanced automotive wiring harnesses in order to make the vehicles perform at an optimum level and to ensure proper functioning of all electronic devices fitted in vehicles.
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