Global Electrical Wiring Harnesses Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electrical Wiring Harnesses Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Electrical Wiring Harness is an assembly of electrical cables or wires which transmit signals or electrical power. For example, many aircraft, automobiles and spacecraft contain many masses of wires which would stretch over several kilometers if fully extended. By binding the many wires and cables into a wiring harness, the wires and cables can be better secured against the adverse effects of vibrations, abrasions, and moisture.

Market Overview:

The latest research study on the global Electrical Wiring Harnesses market finds that the global Electrical Wiring Harnesses market reached a value of USD 57925.48 million in 2022. It’s expected that the market will achieve USD 75304.2 million by 2028, exhibiting a CAGR of 4.47% during the forecast period.

The production and sales of Electrical Wiring Harness are affected by Covid-19

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, especially labor-intensive industries, affected by the supply of raw materials and labor shortages.

For the Electrical Wiring Harness industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.

The convenience of Internet and the development of e-commerce

With the rapid development of e-commerce industry, many industries have developed the synchronous operation mode of online websites and offline stores, and Electrical Wiring Harness industry have joined in. Online sales websites reduce many business components, including employees, procurement costs, telephone calls, data input, and requirements for opening physical stores, thus reducing transaction costs; Business management becomes easier: compared with traditional physical store management, online sales websites are easier to record store inventory, transportation, logs and overall business transactions. Online sales website also provides real-time update function, which can explore all the latest business trends, communicate with customers in time, solve problems and improve customer satisfaction. Many dealers choose to receive goods online, and orders can be tracked and managed online. The convenience of Internet and the development of e-commerce have promoted the demand growth of Electrical Wiring Harness industry.

Strict production standards and specifications

The IPC publication IPC/WHMA-A-620 standardizes the electrical wiring harness to meet the minimum requirements for electrical wiring harness. In view of the potential changes that may occur in the industry or technology, the publication will be reviewed frequently to ensure that the published standards remain at acceptable standards. IPC/WHMA-A-620 publication sets standards for various components in electrical wiring harness, including but not limited to electrostatic discharge protection, conduit, installation and maintenance, crimping, tensile test requirements and other operations which are essential to the production and function of electrical wiring harness. The standards set by IPCS vary according to the classification of products in the three defined product categories. Categories include Category 3: High-performance electronic products, which are suitable for products that require continuous and consistent performance, and cannot tolerate non-working periods. The environment in which these cable harnesses are used may be extremely harsh. This category includes equipment involved in life support systems or equipment used for military purposes. The production of electrical wiring harness industry needs to comply with relevant specifications and standards, which poses certain challenges to the industry.

Region Overview:

In 2021, the share of the Electrical Wiring Harnesses market in Asia Pacific stood at 44.16%.

Company Overview:

Yazaki Corporation is one of the major players operating in the Electrical Wiring Harnesses market, holding a share of 23.03% in 2021.

Yazaki Corporation

Yazaki Corporation is an independent automotive component maker established in 1941. As well as automotive wire harnesses, core product for which Yazaki command large share in the global market, Yazaki develop and manufacture meters, electronic components and a host of other products for automotive use.

Sumitomo

Sumitomo Wiring Systems was founded as an electrical wire manufacturer in 1917. Since then it has grown into a leading global company in wiring harnesses for automobiles. Active on the world stage, it has built a solid business foundation by clearly recognizing and adapting to changes over time and in the field, using technology cultivated through its experience with electrical wires.

Segmentation Overview:

By type, General Type segment accounted for the largest share of market in 2021.

General Type

General Type is generally purchased in large quantities and mainly used in automobile industry.

Custom Type

Custom Type customizes Electrical Wiring Harness according to different requirements, which is mainly used in aerospace and medical equipment industries.

Application Overview:

In the Electrical Wiring Harnesses market, 73.75% of the total value was generated through the Automotive segment by application in 2021.

Key Companies in the global Electrical Wiring Harnesses market covered in Chapter 3:

Safran
Fujikura
Dräxlmaier
Lear
ICA Holdings
Aptiv PLC
Leoni
PKC
Precision Cable Assemblies
Sumitomo
Kauffman Engineering
Park Manufacturing
Yazaki Corporation
Latécoère
Furukawa Electric

In Chapter 4 and Chapter 14.2, on the basis of types, the Electrical Wiring Harnesses market from 2018 to 2029 is primarily split into:

General Type
Custom Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electrical Wiring Harnesses market from 2018 to 2029 covers:

Automotive
Aerospace
Medical Equipment
Industrial Equipment
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)