Electric Vehicle Wiring Harness

Electric Vehicle Wiring Harness

An Electric Vehicle (EV) wiring harness is an essential component of an EV's electrical system, responsible for connecting various electrical components. It typically consists of a network of wires, connectors, switches, fuses, and other accessories that facilitate the distribution of electrical current between different parts of the vehicle. The primary function of an EV wiring harness is to deliver power from the battery pack to the motor controller, transmission, and other electrical components. Furthermore, it provides connections for a range of safety features including airbags, seat belts, and brakes. Additionally, the wiring harness may contain sensors and actuators for monitoring and controlling specific functions within the vehicle.

The electric vehicle wiring harness market is expected to grow at a steady rate of around 19.39% owing to the burgeoning adoption of electric vehicles. The burgeoning adoption of electric vehicles has significantly contributed to the growth of the electric vehicle wiring harness market. As electric vehicles become increasingly popular, the demand for innovative wiring harnesses has increased in the last couple of years. The primary function of an electric vehicle wiring harness is to connect all the electrical components in an EV, along with batteries, automobiles, and manage devices, to facilitate efficient power transmission and communication. The growing demand for EVs has led to an improved need for high-quality wiring harnesses that could manage the complicated electrical systems found in modern EVs. Moreover, there is an increasing focus on safety and reliability in the automotive industry. Modern EVs require advanced wiring harnesses that can ensure optimal performance, efficiency, and safety. Going forward, OEMs are investing heavily in research and development to create innovative wiring harness designs that meet these requirements. Therefore, the burgeoning adoption of electric vehicles drives the wiring harness market.

• Based on vehicle type, the market is segmented into plug-in hybrid electric vehicles, battery electric vehicles, and fuel cell battery electric vehicles. The battery electric vehicles segment generates the highest revenue in 2022 and is expected to show the same fashion in the forecast period. Their growing adoption owes to various factors, high power demands, and simplified electrical structures compared to internal combustion engines. Another factor supporting the growth of battery-electric vehicles is the rapid expansion of charging infrastructure, as a result, the sales of battery-electric vehicles have seen a significant increase in the last couple of years. Therefore, the demand for wiring harnesses designed specifically for BEVs has grown exponentially.
• Based on product type, the market is divided into high-voltage wiring harnesses and medium-low-voltage wiring harnesses. The high-voltage wiring harness segment holds a significant market share in 2022 and is expected to showcase the same trend in the forecast period due to its wide application in electric vehicles. High-voltage wiring harnesses are utilized in electric vehicles to connect the battery pack to the electric motor controller, which powers the wheels. They are designed to handle high currents and voltages, ensuring efficient transfer of electrical strength from the battery to the motor. The high-voltage wiring harness segment includes products such as battery cable assemblies, starter motors, and alternators. These products are important additives of an electric vehicle's powertrain system and play a crucial role in delivering easy acceleration and braking overall performance. Therefore, the high-voltage wiring harness segment enjoys a significant market share in the electric vehicle wiring harness market.
• Based on the material type, the market is divided into, copper-clad wires, aluminum alloy wires, plastic optic fiber, and others. The copper wire segment holds the highest revenue in the market and is expected to show the same fashion in the forecast period. Copper wires are broadly used in electric-powered vehicles due to their high-quality conductivity, low resistance, and capacity to withstand excessive temperatures. They are usually used for connecting the battery pack to the electric motor controller, which powers the wheels. Moving ahead, using copper wires in electric-powered vehicles offers several benefits, consisting of decreased weight, improved thermal management, and stronger electric conductivity. Moreover, copper wires are relatively less expensive as compared to other materials, making them a cost-effective solution for electric vehicle manufacturers.
• For a better understanding of the market adoption of the electric vehicle wiring harness, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific region has dominated the market in 2022 and is expected to act the same in the forecast period due to the rapid sale of electric vehicles in China. In 2022, the total sales of EVs stood at 10.5 million units, out of which China accounts for more than half (58 percent) of all new electric cars sold worldwide. Moreover, the Chinese government has set ambitious targets to promote the adoption of electric vehicles by providing various incentives and rebates as well as tax benefits. Similarly, Japan is also promoting the adoption of electric vehicles through various initiatives, and the country is likely to see significant growth in the electric vehicle wiring harness market. Therefore, all the government support and hefty investments by the manufacturers in Evs to further advance the technology and launch a wide range of models supported the growth of the electric vehicle wiring harness market.
• Some of the major players operating in the market include Sumitomo Electric Industries, Ltd., YAZAKI Corporation, SINBON Electronics Co., Ltd., Coroplast Fritz Muller GmbH & Co. KG, Cypress Industries, BorgWarner Inc., FURUKAWA ELECTRIC CO., LTD., THB Group, Lear Corporation, and Leoni AG.