Electric Vehicle Wiring Harness Market 2028 Industry Analysis

Electric Vehicle Wiring Harness Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Vehicle Type [Plug-in Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Fuel Cell Battery Electric Vehicles (FCBEV)], Product Type (High Voltage Wiring Harness and Medium Low Voltage Wiring Harness), and Material Type (Copper-Clad Wire, Aluminum Alloy Wire, Glass Optical fiber, Plastic Optical Fiber, and Others)

Publication Month : Nov 2021

  • Report Code : TIPTE100000674
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 148
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The electric vehicle wiring harness market is expected to grow from US$ 2,398.5 million in 2021 to US$ 7,167.0 million by 2028; it is estimated to grow at a CAGR of 16.9% from 2021 to 2028.

Increasing technological advancements and rising manufacturing of electric vehicles (EV) lead to the growing demand for lightweight wiring harnesses to achieve weight reduction and improved vehicle packaging. Changing consumer behavior and growing demand for technology-led characteristics are projected to lead the auto industry extensively. Environment and safety regulations and norms implemented by governments across the globe require OEMs to invest in techniques that meet mobility demands. The transition from internal combustion engines to electric passenger and commercial vehicles in developed nations will contribute to the demand. Emerging markets, changing consumer preferences, and increasing automation are anticipated to revolutionize the EV industry by increasing technology-driven trends. The rise in demand for electric vehicle wiring harnesses to achieve improved performance, flexibility, and reliability is propelling the market's growth.

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Electric Vehicle Wiring Harness Market: Strategic Insights

Market Size Value inUS$ 2,398.5 million in 2021
Market Size Value byUS$ 7,167.0 million by 2028
Growth rateCAGR of 16.9% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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Wire harnesses are electrical cables grouped into a single covering used to transmit signals in electrical applications. They also aid in powering up electronic and electrical devices and are designed to operate in extreme conditions. Harnesses are designed as per the requirements in automobiles and are embedded in the body, engine, and chassis of vehicles. These harnesses are embedded into dashboards, door locks, power windows, interior electrical components, speed sensors, lock braking system, cruise control system, and fuel injection system. Various benefits such as reduced installation time and improved fuel efficiency are increasing their uptake among automakers. Many leading and renowned automotive wire harness manufacturers provide customized harnesses designed to meet individual specifications and requirements. The rising demand for wire harnesses from the automotive industry, which accounts for one of its largest consumers, is remarkably bolstering the global electric vehicle wiring harness market

Impact of COVID-19 Pandemic on Electric Vehicle Wiring Harness Market

Electric vehicles (EVs) have become increasingly important for a new generation of environmental technologies in the global automotive industry. The COVID-19 pandemic severely disrupted the auto industry worldwide. The economic slowdown caused a rapid decline in EV sales, particularly in developing nations. According to the Society of Electric Vehicle Manufacturers (SMEV), the registration of all-electric vehicles during FY21 declined 20% to 236,802 units from 295,683 units sold in FY20. In 2019, electric cars accounted for a record 2.5% share of the global light-vehicle (LV) market, with more than two million EVs sold globally. Then the COVID-19 pandemic hit, shaking up supply chains and shutting down factories. However, emerging developments are anticipated to shape the market over the coming years. After witnessing a significant drop in 2020, the automotive market has begun witnessing a gradual recovery in consumer demand since the last quarter of 2020. According to industry experts, the EV market is more likely to see a quick recovery in China and Europe. The market share of EVs in these regions is likely to increase over the long term. Economic growth and improvements in production and manufacturing infrastructures will encourage the global electric vehicle wiring harness market.

Lucrative Regions for Electric Vehicle Wiring Harness Market

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Market Insight

Surge in Electric Vehicle Sales with Advanced Features

Evolving consumer preferences and technological advancements are helping to reshape the electric vehicles (EV) industry significantly. China is one of the leading regions in terms of EV adoption. China is also the world's largest automobile market, with a rapidly increasing number of new fully electric or plug-in hybrid car sales. In Europe, Germany is offering financial incentives to consumers to purchase EVs. OEMs and suppliers across the globe are preparing for the shift toward EVs and away from internal combustion engine (ICE) vehicles. The increasing demand for comfortable vehicles with advanced features such as air conditioning, climate control, park-assist cameras, high-resolution intelligent displays, touch screens, rapid charging capability, and automatic wipers and lights is fueling the need for electric vehicle wiring harnesses.

Vehicle Type Segment Insights

Based on vehicle type, the global electric vehicle wiring harness market is segmented into plug-in hybrid electric vehicles (PHEV), battery electric vehicle (BEV), hybrid electric vehicles (HEV), and fuel cell battery electric vehicles (FCBEV). The significant advantages of BEVs, such as the most sustainable driving experience and no carbon dioxide emission, are bolstering the growth of BEVs across the globe. The ability of BEVs to provide environmental, societal, and health benefits is projected to boost the demand for wiring harnesses. The demand for high-speed data transmission from vehicle manufacturers has led to a rise in investment in optical fiber cables that provide a relatively higher speed than other materials. This is propelling the growth of wiring harnesses for BEVs. Further, upgrade of charging infrastructures and increased fuel prices are likely to enhance the demand for BEVs with more user-friendly features.

Electric Vehicle Wiring Harness Market, by Vehicle Type (% Share)

Electric Vehicle Wiring Harness Market, by Vehicle Type (% Share)
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Product Type Segment Insights

Based on product type, the global electric vehicle wiring harness market is segmented into high voltage wiring harness and medium low voltage wiring harness.

Sumitomo Wiring Systems LTD. provides harnesses installed in high voltage batteries in a hybrid vehicle to detect the voltage, enabling the connectors to connect with the battery's electronic control unit (ECU). A high voltage battery is installed in the electric vehicle (EV) for enhanced motor driving operation. The rising demand for a high voltage power distribution system that contributes to improvements in performance, reliability, and convenience of hybrid and electric vehicles is driving the high voltage wiring harness segment. LEONI manufactures high voltage wiring systems, power distribution boxes, and components for hybrid and fully electric vehicles. Innovative capabilities regarding optimizing high voltage electrical distribution system (EDS) architectures and product designs using innovative materials and production methodologies are providing lucrative growth opportunities for the market vendors.

Material Type Segment Insights

Based on material type, the global electric vehicle wiring harness market is segmented into copper-clad wire, aluminum alloy wire, glass optical fiber, plastic optical fiber, and others.

Copper conductor is gaining widespread popularity as a mainstream material for the automotive wiring harness. The growing demand for lightweight aluminum alloy wires and harnesses for better fuel efficiency is anticipated to boost the segment growth during the forecast period. Growth in the development of environment-conscious high-voltage wire harnesses and lightweight wire harness systems is further enhancing the demand for copper-clad wires. Copper-clad aluminum is a low gravity material, with the characteristics of copper's good conductivity and aluminum's high specific gravity-conductivity ratio. Copper surfaces that can enable electric connection by using conventional terminals for copper wires reduce investment costs. Such benefits are propelling the growth of the copper-clad wire segment in the electric vehicle wiring harness market.

The market players focus on new product innovations and developments by integrating advanced technologies and features to compete. In October 2021, SINBON Electronics Co., Ltd. was named one of the top ten high-tech electric vehicles (EVs) solution firms in Asia-Pacific by the automotive journal "Autotech Outlook" for two consecutive years. Since 2012, the company has been committed to expanding the EV sector and has already established itself as a significant provider of wiring harnesses for charging systems for electric vehicles.

Based on vehicle type, the global electric vehicle wiring harness market is segmented into plug-in hybrid electric vehicles (PHEV), battery electric vehicle (BEV), hybrid electric vehicles (HEV), and fuel cell battery electric vehicles (FCBEV). Based on product type, the global electric vehicle wiring harness market is segmented into high voltage wiring harness and medium low voltage wiring harness. Based on material type, the global electric vehicle wiring harness market is segmented into copper-clad wire, aluminum alloy wire, glass optical fiber, plastic optical fiber, and others. In terms of geography, the electric vehicle wiring harness market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Electric Vehicle Wiring Harness Market – Company Profiles

  • Coroplast Fritz Müller GmbH & Co. KG
  • Cypress Industries
  • Fujikura Ltd.
  • Furukawa Electric Co., Ltd.
  • Motherson
  • Nexans Autoelectric Gmbh
  • Sinbon Electronics Co., Ltd.
  • Sumitomo Wiring Systems Ltd.
  • THB Group
  • Yazaki Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Vehicle Type , Product Type, and Material Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States

Frequently Asked Questions

What are the driving factors responsible for the growth of the electric vehicle wiring harness market?

The surge in electric vehicle sales with advanced features
Growing demand for lightweight harness

What are the market opportunities for the electric vehicle wiring harness market?

Governments across the world are focusing on electric mobility or e-mobility with enhanced vehicle safety systems to adapt to the new normal, overcome the economic slowdown, and stabilize the revenue losses caused by the outbreak of the COVID-19 pandemic. E-mobility is also expected to balance energy demand and environmental sustainability, providing lucrative growth potential and employment generation in this market.
The expanding demand for hybrid and electric vehicles and increasing electrification of cars are the primary factors driving the global electric vehicle wiring harness market. Stringent emission norms for vehicles are forcing OEMs to manufacture hybrid and electric vehicles to reduce the emission of harmful gases. The US Department of Transportation has set the Corporate Average Fuel Economy (CAFE) standards for vehicles. The Canadian National Safety Code (NSC) standards regulate commercial vehicles, drivers, and motor carriers in Canada. The NSC is a code of minimum performance standards for the safe operation of commercial vehicles.

Which product type-based segment had the largest market share in 2020?

Based on product type, the global electric vehicle wiring harness market is segmented into High Voltage Wiring Harness, and Medium Low Voltage Wiring Harness. The global electric vehicle wiring harness market is dominated by the high-voltage harness segment in 2020, which accounted for ~ 79.2%.

What is the future trend for the electric vehicle wiring harness market?

As vehicle OEMs are starting to focus on equipment wiring, the uptake of supercharging cables and connectors is witnessing rapid growth. Key market players are creating products with a higher electrical system content to improve their wiring designs. Limitations in traditional wiring systems in automation are leading to the rising use of supercharging cables and connectors. Standard cables are easy to manipulate on various structures or devices, and their installation is difficult to automate. Manual placement of the cables is time-consuming and increases costs. Additionally, the lack of sufficient structural integrity and rigidity causes the traditional wires not to be easily formed into different shapes, which is further augmenting the demands for supercharging cables and connectors.

Who are the major vendors in the electric vehicle wiring harness market?

Key companies in the electric vehicle wiring harness market include Coroplast Fritz Müller GmbH & Co. KG, Cypress Industries, Fujikura Ltd., Furukawa Electric Co., Ltd.; Motherson, Nexans Auto electric Gmbh, Sinbon Electronics Co., Ltd., Sumitomo Wiring Systems Ltd., THB Group, and Yazaki Corporation.

Which region has the largest market share in the electric vehicle wiring harness market?

APAC held the largest market share in the year 2020, along with the significant revenue generation opportunities in Europe and North America.

The List of Companies - Electric Vehicle Wiring Harness Market

  1. Coroplast Fritz Müller Gmbh & Co. Kg
  2. Fujikura Ltd.
  3. Furukawa Electric Co. Ltd.
  4. Motherson Sumi Systems Ltd.
  5. Nexans Autoelectric GmBh
  6. Sinbon Electronics Co., Ltd
  7. Sumitomo Electric Industries, Ltd.
  8. THB Group
  9. Yazaki Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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