The global automotive wiring harness market will grow to $55.4 billion by 2027

According to a recent report released by Markets and Markets, a global market research institute, the global automotive wiring harness market will increase from $43.
3 billion in 2019 to $55.
4 billion by 2027, with a compound annual growth rate of 3.
1%.

Increasing production of internal combustion engine vehicles and increasing adoption of electric vehicles are expected to drive the automotive wiring harness market
.
In addition, the popularity of luxury vehicles and the growing demand for mid-size luxury vehicles, especially in the Asia-Pacific region, will further increase the demand
for wiring harnesses.

From the perspective of vehicle type, the passenger car market is expected to dominate the growth demand
of the global automotive wiring harness market during the forecast period.
Passenger cars are expected to account for 48%
of global internal combustion engine vehicle production during the forecast period.
According to the European automotive association ACEA, passenger car production reached 79 million units in 2018 and is expected to exceed 100 million units by 2024-25, with Asia Pacific and North America being the major markets
.

In addition, many technological advancements such as ADAS, connected mobile apps, Apple CarPlay, rear traffic alerts, 360-degree cameras, autonomous driving technology, heated and ventilated seats, reversing camera/parking sensors, ambient interior lighting, and navigation are also evolving, which is expected to increase the demand for
data transmission and wires in wiring harnesses.

In terms of application, instrument panel/cab wiring harnesses will be the fastest growing segment
by application.
By incorporating user-friendly technology to improve the driving experience, the dashboard could become the most interactive element
in the vehicle.
In the near future, the dashboard may soon become as versatile as
a laptop.

Many new features
have been added to the dashboard.
For example, Audi has introduced a new feature that will make it easier
than ever to control car functions.
This new feature, called MMI Touch, provides enhanced gesture control
by allowing drivers to simply "write" characters on a designated touchpad using their fingers.
Similarly, an AR display on a car's windshield will add a lot of functionality
to the car.
Therefore, in order to play the role of these characteristics, proper connections are required, and this is expected to add more wires
to the vehicle.
As a result, dashboard/cab wiring harnesses are expected to grow
at the fastest rate.

Asia Pacific is expected to be the largest regional market
during the forecast period.
It is estimated that the Asia-Pacific region will account for the largest share
of the wire harness market from 2019 to 2027.
Over the past few years, the Asia-Pacific region has witnessed the growth of the
automotive wiring harness market.
The region includes economies
such as China, Japan, South Korea, India and Thailand.
China is expected to dominate the Asia-Pacific automotive wiring harness market
during the forecast period.
The increase in total automotive production has led to an increase
in the demand for wire harnesses in the region.
The Asia-Pacific region is estimated to account for 61% of the global production share of internal combustion engine vehicles
.
Thus, Asia Pacific is estimated to be the largest market
for automotive wiring harnesses, especially passenger cars.

From the perspective of manufacturers, Sumitomo Electric of Japan, Yazaki, LEONI of Germany, Aptiv PLC of Ireland and Furukawa Electric of Japan will become the world's leading manufacturers
of automotive wiring harnesses.