Wilmington, Delaware, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.- The global commercial vehicle wiring harness market was estimated to have acquired US$ 14.3 billion in 2022. It is anticipated to register a 6.3% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 25.3 billion.
New transportation models like ride sharing, electric scooters, and autonomous micro mobility vehicles may require customized wiring harnesses to support their unique electrical needs.
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There is a growing need for lightweight and efficient wiring harness solutions that reduce the overall weight of the vehicle and improve energy efficiency, as fuel efficiency and emissions standards become stricter.
Key Findings of the Market Report
- Collaboration between wiring harness suppliers and commercial vehicle manufacturers can lead to the development of innovative and cost effective solutions that meet the specific needs of the industry.
- The rollout of 5G networks can enable more advanced vehicle to vehicle and vehicle to infrastructure communication, which will necessitate more sophisticated wiring harnesses to support these high speed, low latency connections.
- Telematics systems in commercial vehicles are used for tracking, maintenance, and performance monitoring, creating a need for advanced wiring harnesses with data transmission capabilities.
- There is a growing concern for cybersecurity, with the increasing connectivity of commercial vehicles. Wiring harnesses can be designed with built in security features to protect against cyber threats.
Global Commercial Vehicle Wiring Harness Market: Key Players
The following companies are well known participants in the global commercial vehicle wiring harness market:
- Motherson Sumi Systems Limited
- Company Overview
- Product Portfolio
- Strategy Overview
- Recent Developments
- Financial Analysis
- Revenue Share
- Executive Bios
- Aptiv
- Borg Warner Inc.
- Continental AG
- CTS Corporation
- DENSO Corporation
- Dhoot Transmission
- Furakawa Electric Co., Ltd.
- Hella GmbH & Co., KGaA
- Hitachi Ltd.
- Johnson Electric
- Lear Corporation
- Leoni AG
- MAHLE GmbH
- Martin Technologies
- Mitsubishi Corporation
- Nidec Motors & Actuators
- Robert Bosch GmbH
- Robertshaw Controls Pvt. Ltd.
- Spark Minda
- Sumitomo Electric Industries, Ltd.
- TE Connectivity
- THB Group
- Valeo
- WABCO
- Yazaki Corporation
Market Trends for Commercial Vehicle Wiring Harness
- The growing global demand for commercial vehicles, including trucks, buses, and construction equipment, is a significant driver for the commercial vehicle wiring harness market.
- Modern commercial vehicles are equipped with a wide range of advanced electronic systems and features, such as telematics, navigation, safety systems, and entertainment systems.
- The trend toward electrification and hybridization of commercial vehicles, driven by environmental concerns and regulatory changes, is creating opportunities for new wiring harness designs.
- The development of autonomous commercial vehicles, including self driving trucks and delivery vehicles, is a significant trend. The vehicles rely heavily on complex sensor systems and communication networks, which demand specialized wiring harnesses.
Global Market for Commercial Vehicle Wiring Harness: Regional Outlook
Various reasons are propelling the growth of the commercial vehicle wiring harness market in different regions. The regions include,
North America
- North America has a significant market for commercial vehicles, including trucks, buses, and construction equipment. The demand for these vehicles is driven by economic growth, construction activities, and the need for efficient transportation and logistics.
- Safety is a top priority for commercial vehicle operators in North America. The integration of advanced driver assistance systems and collision avoidance technology requires complex wiring harnesses to support these safety features.
Asia Pacific
- Several countries in Asia Pacific are embracing electric commercial vehicles to reduce emissions and improve air quality. Electric vehicles require specialized wiring harnesses to support their electric powertrains.
- Asia Pacific is a major automotive manufacturing hub, with numerous global and domestic automakers producing commercial vehicles in the region. The concentration of manufacturing activities fuels the demand for wiring harnesses.
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Some key developments by the players in this market are:
| Company Name | Key Development |
| Leoni AG |
|
| Yazaki Corporation |
|
Global Commercial Vehicle Wiring Harness Market Segmentation
- Vehicle Type
- Light Duty Commercial Vehicles
- Heavy Trucks
- Buses & Coaches
- Off road Vehicles
- Agriculture Tractors and Equipment
- Construction and Mining Vehicles
- Recreational Vehicles (ATVs, UTVs, Others)
- Application
- Engine Harness
- Chassis Automotive Wiring Harness
- Body & Lighting Harness
- HVAC Automotive Wiring Harness
- Dashboard/ Cabin Harness
- Battery Automotive Wiring Harness
- Seat Automotive Wiring Harness
- Sunroof Automotive Wiring Harness
- Door Automotive Wiring Harness
- Material Type
- Metallic
- Copper
- Aluminum
- Other Metals
- Optical Fiber
- Plastic Optical Fiber
- Glass Optical Fiber
- Metallic
- Sales Channel
- OEM
- Aftermarket
- Category
- General Wires
- Heat Resistant Wires
- Shielded Wires
- Tubed Wires
- Vehicle Propulsion
- IC Engine
- Diesel
- Gasoline
- Electric
- Battery Electric
- Plug in Hybrid Electric
- Fuel cell Electric
- Hydrogen fuel Vehicles
- IC Engine
- Transmission Type
- Data Transmission
- Electricity Transmission
- Component
- Connectors
- Terminals
- Clamps
- Sheaths
- Tape
- Others
- Voltage Type
- High Voltage
- Low Voltage
- Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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