Malaysia Wire Harness Market Outlook to 2027

Malaysia Wire Harness Market Outlook to 2027

The report provides a comprehensive analysis of the potential of the Malaysia Wire Harness Industry in Malaysia. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segmentation includes by end user, by harnessing material, by wire material, by voltage and by market type; growth enablers and drivers, challenges and bottlenecks, trends driving digital adoption; regulatory framework; industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each segmentation.

Market Overview:

According to Ken Research estimates, the Malaysia Wire Harness Market – which grew at a CAGR of 5.7% in the period of 2017-2022 – is expected to grow at a CAGR of 7.9% in the forecasted period of 2022-2027, owing to the increased demand for Automotive, IoT (connected devises), and consumer electronics.

The market is led by K. Wire Harness Sdn. Bhd.; having the major share of the market. Other players include Seiko Denki (M) SDN BHD, Chun Hau Electronic, O.E Manufacturing Sdn Bhd, TEM Group, and others.

As the demand for electronics products is increasing, so will the demand for Wire Harness products in the country. Wire/Cable Harness is an essential component that affects performance, efficiency and safety. The automotive industry has been witnessing a significant growth in demand for wire harnesses due to the rise in demand for electronic devices, EVs, and embedded wiring harness in the vehicles.

Key Trends by Market Segment:

By End User: The Malaysia wire harness market can be segmented based on the end-user industry, which includes automotive, consumer electronics, industrial equipment, healthcare, and others. The automotive industry is the largest end-user of wire harnesses in Malaysia, with major players like Proton, Perodua, and Honda. In this industry, wire harnesses are used in various applications such as engine management, communication systems, lighting systems, and powertrains.

By Harnessing Material: The demand for different harness materials varies depending on the end-use industry. For example, the automotive industry uses a variety of harness materials to meet the different performance requirements of vehicles. The use of PVC and other plastics in the automotive industry is expected to increase due to their lightweight and low-cost nature, which makes them ideal for high-volume production. In contrast, the aerospace industry requires high-performance materials such as fiberglass and other composites to meet the strict safety and performance standards of aircraft. Other industries, such as healthcare, require harnesses made from materials that are resistant to harsh chemicals and sterilization procedures.

Competitive Landscape

In the Malaysia Wire Harness Market, there are about 30+ players operating in the overall market, and top 2 players accounted ~16.7% share in the market in terms of revenue. The major parameters on which these players compete includes, product/service offerings, total manufacturing capacity and others.

Future Outlook

The Malaysia Wire Harness Market is projected to show a growth of CAGR 7.9% in the forecasted period of 2022-2027, owing to the increasing demand for consumer electronics, automotive, rising spending on healthcare, growth of and infrastructural development.

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