Automotive Wiring Harness Market: Innovations in Lightweight Materials and Modular Designs
The global automotive wiring harness market was valued at USD 50.09 billion in 2023 and is projected to grow to USD 63.00 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 3.4% from 2024 to 2030. This growth is significantly propelled by the increasing adoption of electric vehicles (EVs), which is further bolstered by consistent government incentives for both manufacturers and consumers, thereby driving demand in the EV segment. The market's expansion is also attributed to the rising integration of advanced technologies such as vehicle-to-vehicle communication, self-healing systems for electric vehicles, smart battery systems, and intelligent braking and safety systems. Concurrently, the proliferation of autonomous and semi-autonomous vehicles, which heavily rely on components like low-latency communication devices, sensors, cameras, and radar, will escalate the demand for automotive wiring harnesses within the automotive manufacturing secto...