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Automotive Harness System Market Size

Report ID: GMI6074
Published Date: Jun 2023
Report Format: PDF

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Automotive Harness System Market Size

Automotive Harness System Market size was valued at USD 52.2 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032. The increasing complexity of automotive electrical systems, the rising demand for electric & hybrid vehicles, the growing adoption of Advanced Driver Assistance Systems (ADAS), and the integration of advanced infotainment & connectivity features in vehicles are the major factors contributing to market growth. Automotive harness systems are crucial for efficiently routing & managing electrical wiring as well as ensuring reliable communication and power distribution throughout the vehicle. The market presents significant opportunities for harness system manufacturers to cater to the evolving needs of the automotive industry

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An automotive harness system is a combination of electrical cables or an assembly of wires, which connects all Electrical & Electronic (E/E) components in the automotive vehicle. The harness handles the energy and information flow within the E/E system to fulfill primary car functions, such as steering and braking, as well as secondary car functions including ventilation and infotainment.

Automotive Harness System Market Report Attributes
Report Attribute	Details
Base Year:	2022
Automotive Harness System Market Size in 2022:	USD 52.2 Billion
Forecast Period:	2022 to 2032
Forecast Period 2022 to 2032 CAGR:	5%
2032 Value Projection:	USD 85 Billion
Historical Data for:	2018 – 2022
No. of Pages:	250
Tables, Charts & Figures:	339
Segments covered:	Material, Components, Vehicle type, Propulsion type and Application
Growth Drivers:	Rise in adoption of electric vehicles Development of vehicles with advanced safety features Government regulations Growing demand for Advanced Driver-Assistance Systems (ADAS) Increasing focus on vehicle connectivity and infotainment
Pitfalls & Challenges:	Limited data transfer rate High maintenance cost

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The increasing complexity of automotive electrical systems and the integration of advanced technologies pose design & manufacturing challenges to meet higher data transfer rates and power requirements. Furthermore, the high cost of developing and implementing advanced harness systems can limit adoption, particularly in price-sensitive markets, which is anticipated to hinder market growth during the forecast period.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for automotive harness system was USD 52.2 billion in 2022 and will witness over 5% CAGR from 2023-2032 due to the increasing demand for electric & hybrid vehicles worldwide

The copper material segment held over 60% of the automotive harness system industry share in 2022 and will witness robust growth rate from 2023-2032 owing to the thriving need for proper functioning of various systems and components.

Asia Pacific held over 30% of the global automotive harness system industry share in 2022 driven by the rising investments in electric & hybrid vehicles

Some of the key automotive harness system providers include Aptiv, Continental AG, Fujikura Ltd., Furukawa Electric Co., Ltd., Gencor Industries, Inc., Lear Corporation, LEONI, and Molex