Global Wire Harness Market Insights
Global wire harness market is valued at USD 26.23 billion in 2021 and is projected to attain a market size of 39.29 billion by 2028 at a CAGR of 5.93% during the forecast period, 2022–2028.
The adoption of electronic controls in cars and increasing demand for smart vehicles are some of the factors contributing to global wire harness market growth. Wire harnesses are designed to connect electrical components and are extensively used in automobiles, aircrafts, and industrial applications. These harnesses come in various types and sizes, depending on the application. They are also available in different colors or markings to indicate their function. Wire harnesses are generally composed of a number of wires that are bundled together and organized into channels. The channels facilitate the flow of electricity between various components and protect them from common damage. The wires are also insulated to prevent them from becoming hot during operation.
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Global Wire Harness Market Segmental Analysis
Global wire harness market is segmented by product type, material and application. By product type, the market is further segmented into wire harness terminal and wire harness connector. By material, it is categorized into vinyl, PVC polyurethane, thermoplastic elastomer, and polyethylene. By application, the market is categorized into marine and marine engine, automotive, military machines, aerospace & defense, medical equipment & devices, commercial refrigeration & food machines, gaming & amusements, consumer technology & durables, power & energy, fitness equipment/machines, agricultural equipment, elevators & escalator, industrial, mechanical lifts, battery, and others.
- By Product:Wire Harness Terminal, Wire Harness Connector
- By Material:Vinyl, PVC, Polyurethane, Thermoplast Elastomer, Polyethylene
- By Application:Marine, Marine Engine, Automotive, Military Machines, Aerospace & Defense, Medical Equipment & Devices, Commercial Refrigeration & Food Machines, Gaming & Amusements, Consumer Technology & Durables, Power & Energy, Fitness Equipment/Machines, Agricultural Equipment, Elevators & Escalator, Industrial, Mechanical Lifts, Battery, Others.
Global Wire Harness Market Competitive Landscape
The wire harness market is a highly competitive global market. Companies are vying for market share by offering innovative products, services and solutions that meet the ever-changing needs of their customers. They are also investing in research and development to create new and better products that can give them a competitive edge. In addition, companies are working hard to streamline their operations and reduce costs so they can offer more competitive prices.
Top Company Profiles
- Fujikura Ltd.
- Lear Corp
- Furukawa Electric Co.
- Aptiv Plc
- LEONI AG
- Yazaki Corporation
- THB Group
- Motherson Group
- Sumitomo Electric Industries Ltd.
- AmWINS Group Inc.
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Recent Developments
- In July 2020, LEONI launched two new cables for the industrial data transmission standard Single Pair Ethernet (SPE) application.
- companies participating in the DC-INDUSTRY 2 research project.
- In October 2019, Lear Corp entered into joint venture with Superior Essex to develop magnet wire
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