Commercial Vehicle Wiring Harness Market Size and Share Analysis Report 2027

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Commercial Vehicle Wiring Harness Market to 2027 - Global Analysis and Forecasts by Vehicle Type (Light Commercial Vehicles and Medium & Heavy Commercial Vehicles); LCV Type (SUV, Pickups, Minitrucks, and Minivans); M&HCV Type (Medium and Heavy Trucks, Heavy Mining Vehicle, Heavy Construction Vehicle, Heavy Agriculture Vehicle, and Medium Agriculture Vehicle/Tractor)

Publication Month: Feb 2020 | Report Code: TIPRE00003274 | No. of Pages: 152 | Category: Automotive and Transportation | Status: Published

The commercial vehicle wiring harness market was valued at US$ 11.50 Bn in 2018 and is expected to grow at a CAGR of 3.9% from 2019 to 2027 to reach US$ 16.00 Bn by 2027.

The market for commercial vehicle wiring harness involves a number of tier1, tier2 and tier3 companies globally which capitalizes considerable amounts with an objective to design and manufacture advanced wiring harness components which are integrated as body wiring harness, engine wiring harness, and chassis wiring harness. The continuous modernizations in the field of technologies for a wide variety of applications in the lightweight commercial vehicle (LCV), medium & heavyweight commercial vehicle (HCV) are attracting several automakers across the world, which is paving the path for commercial vehicle wiring harness market in the current scenario.

Lucrative Regional Commercial Vehicle Wiring Harness Markets

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Market Insights

Boosting Demand for Electric Vehicles is expected to propel the commercial vehicle wiring harness market

The automotive industry across the world is constantly experiencing the rise in the number of several new carmakers. The automotive giant’s manufacturers are continuously eyeballing on the development of the electric vehicle segment as the section is attracting the interest of the customers globally. Some of the significant players are catalyzing the market for electric vehicles, namely: Tesla, Ford, Nissan, BMW, and Volkswagen, among others. Electric vehicles consist of several types of wiring harnesses along with semiconductors, which enhance the safety, reliability, and performance of the vehicles. According to the International Energy Agency, the fleet of electric vehicles grew to 5.1 million, marking a growth of about up 2 million over the last year globally. The growing electrification of vehicles is leading the automotive industry as well as associated industries to a greater extent. The increasing production and demand for electric vehicle is expected to propel the commercial vehicle wiring harness market.

Vehicle Type Insights

Based on vehicle type, the commercial vehicle wiring harness market is segmented into lightweight commercial vehicle (LCV), and medium & heavyweight commercial vehicle (M&HCV). The quest among the LCV manufacturers to procure advanced technologies in order to gain customer attraction is harnessing the growth of commercial vehicle wiring harness market through LCV segment. On the other hand, the heavyweight commercial vehicle (HCV) segment is expected to witness significant growth rate owing to the rapid integration of robust technologies on these vehicles.

LCV Type Insights

The SUV segment, by LCV type, dominated the commercial vehicle wiring harness market in 2018. The growing popularity of SUVs across the globe is continuously growing. With the fluctuating global economy, the increasing trade tensions and a slowdown in the Chinese market growth, the car industry are looking for different innovating ways to expand their business. With the growth in the living standard of the citizens globally is diverting their interest towards the advanced features of SUV, which bolster the commercial vehicle wiring harness market.

M&HCV Type Insights

The medium & heavyweight commercial vehicle (M&HCV) segment consists of medium and heavy trucks, heavy mining vehicles, heavy construction vehicles, heavy agriculture vehicle, and medium agriculture vehicle/tractor that have a gross vehicle weight of more than 16.2 tons. . Owing to the increase in the transportation and logistics sector among the countries globally, several M&HCV manufacturers have emerged across the world thereby increasing the commercial vehicle wiring harness market in terms of revenue.

Global Commercial Vehicle Wiring Harness Market, by Vehicle Type – 2018 & 2027

Global Commercial Vehicle Wiring Harness Market, by Vehicle Type – 2018 & 2027

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Strategic Insights

Report Coverage - Commercial Vehicle Wiring Harness Market
Report CoverageDetails
Market Size Value inUS$ 11.50 Billion in 2018
Market Size Value byUS$ 16.00 Billion by 2027
Growth rateCAGR of 3.9% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages152
No. of Tables83
No. of Charts & Figures75
Historical data availableYes
Segments coveredVehicle Type ; LCV Type ; M&HCV Type
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The market players operating in commercial vehicle wiring harness market are concentrating majorly on the advancement in their wiring harness components used to efficiently connect as well as integrate these wires and cables for the electrification of the vehicle. Further, several companies providing wiring harness are focusing on development and come up with advanced and efficient components.

Commercial Vehicle Wiring Harness Market – By Vehicle Type

  • Light Commercial Vehicles
  • Medium & Heavy Commercial Vehicles

Commercial vehicle wiring harness Market – By LCV Type

  • SUV
  • Pickups
  • Minitrucks
  • Minivans

Commercial vehicle wiring harness Market – By M&HCV Type

  • Medium and Heavy trucks
  • Heavy Mining vehicle
  • Heavy Construction vehicle
  • Heavy Agriculture vehicle
  • Medium Agriculture vehicle/Tractor

Commercial vehicle wiring harness Market – By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Turkey
    • Rest of Europe
  • Asia Pacific

    • China
    • India
    • South Korea
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa

    • South Africa
    • Rest of Middle East and Africa
  • South America

    • Brazil
    • Argentina
    • Rest of South America

Company Profiles

  • Motherson Sumi Systems Limited
  • AME Systems (Vic) Pty Ltd
  • Yazaki Corporation
  • THB Group
  • Sumitomo Electric Group
  • SPARK MINDA (Ashok Minda Group)
  • Nexans Autoelectric
  • Lear Corporation
  • Furukawa Electric Co. Ltd.

Frequently Asked Questions

Lightweight commercial vehicles include mini-trucks, SUV, pick-up vans, and buses with a gross vehicle weight of not more than 3.5 tones. The LCV concept was created as a mini-truck are commonly optimized to be sharply built, and have low operating costs but still powerful with fuel-efficient engines, and are employed for intra-city operations. The growing penetration of LCVs is owing to the growth in inter-country transportation and logistics. The mounting number of LCVs across the globe has augmented significantly over the years, demanding the integration of different wiring harness cables and wires from the OEMs as well as the replacement units.
The automotive manufacturer is handling the issue of minimizing the overall weight of the vehicles by integrating lightweight wiring harnesses, and small size components but enhance the electrification of vehicles to attract customers globally. The vehicle manufacturers are actively focusing on the development of three types of advanced wires and cables, which further reduce weight as per the application according to the specific applications. The first type of material used is an aluminum alloy for the manufacturing of automotive wire which has high conductivity and strength, another type of material is copper-clad aluminum (CA) wire which is appropriate for a thick wire used across battery cable. The third type of material is used for providing high strength thin wire and is suitable for signal lines, which has the same strength as the one-quarter cross-section to that of a present soft wire.
APAC contributed largest market share in the commercial vehicle wiring harness market. Rapid developments, digitalization of the economy, and adequate government support are some of the attributable factors that have ensured a smooth transition of these economies from the developing stage towards a developed phase. The growth of the APAC region is rapidly driven by expanding markets such as demand for the automotive industry, especially for autonomous and electric vehicles. This trend has fueled the need for the wiring harness to integrate advanced electronic components. The automotive market in the region is developing dynamically in recent years, with several brands of vehicles competing in China. Thailand is a crucial exporter of automobiles in Asia-Pacific. The automobile industry in China is witnessing tremendous growth with a significantly robust position in the components, which includes electric wires, connectors, terminals, and others. There leading commercial vehicle manufacturers in the region are Toyota Motor Corporation, TATA Motors, Mitsubishi Motors Corporation, and various others.

The List of Companies - Commercial Vehicle Wiring Harness Market

  1. Motherson Sumi Systems Limited
  3. AME Systems (Vic) Pty Ltd
  4. Yazaki Corporation
  5. THB Group
  6. Sumitomo Electric Group
  7. SPARK MINDA (Ashok Minda Group)
  8. Nexans Autoelectric
  9. Lear Corporation
  10. Furukawa Electric Co. Ltd.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Commercial vehicle wiring harness market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to vehicle types.
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