Commercial Vehicle Wiring Harness Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Vehicle Type (Electric Vehicle, Automotive, Light Commercial Vehicle, and Medium and Heavy Comm

Commercial Vehicle Wiring Harness Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Vehicle Type (Electric Vehicle, Automotive, Light Commercial Vehicle, and Medium and Heavy Commercial Vehicle), Light Commercial Vehicle (SUV, Pickups, Minitrucks, and Minivans), Medium and Heavy Commercial Vehicle (Medium and Heavy Trucks, Heavy Mining Trucks, Heavy Construction Vehicle, Heavy Agriculture Vehicle, and Medium Agriculture Vehicle/Tractor), and Geography

The commercial vehicle wiring harness market size was valued at US$ 13.45 billion in 2023 and is expected to reach US$ 25.79 billion by 2031; it is estimated to record a CAGR of 8.5% from 2023 to 2031.

The Commercial Vehicle Wiring Harness market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the commercial vehicle wiring harness market share in 2023, followed by North America and Europe, respectively.

Asia Pacific is expected to record the highest CAGR in the commercial vehicle wiring harness market during the forecast period. The projected market growth is ascribed to the rising demand for commercial vehicles in this region. According to the data by the China Association of Automobile Manufacturers (CAAM), in 2023, China recorded an upsurge of 22% in the sales of its commercial vehicles, including exports, growing from 3.30 million units in 2022 to 4.03 million units in 2023. As per the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, 4.78 million new cars were sold in Japan in 2023, recording a rise of 13.8% year-on-year.

Automotive segment held major commercial vehicle wiring harness market share in 2023. The expanding automotive industry and growing sales of passenger vehicles propel the demand for wiring harnesses among manufacturers. According to the Society of Indian Automobile Manufacturers (SIAM), domestic sales of passenger vehicles reached 11,35,501 units from January 2024 to March 2024. Urbanization, rising number of outdoor and recreational activities, and the expanding tourism industry are the prime factors influencing passenger vehicle businesses. The consumer demand and a subsequent rise in passenger vehicle manufacturing trigger the adoption of wiring harnesses in the automotive sector. Wiring harnesses support automotive manufacturers to improve the performance and safety of vehicles.

Motherson Sumi Systems Ltd., AME Systems (VIC) Pty Ltd., Spark Minda, Yazaki Corp, Sumitomo Electric Industries Ltd, Nexans SA, Furukawa Electric Co Ltd, Lear Corp, DRÄXLMAIER Group, and ECOCABLES are among the key commercial vehicle wiring harness market players that are profiled in this market study.

The overall commercial vehicle wiring harness market size has been derived using both primary and secondary sources. exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the commercial vehicle wiring harness market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the commercial vehicle wiring harness market.

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