The Automotive Wiring Harness Market To Grow Beyond The Odds Of Mediocrity

Automotive wiring harness is an assembly of wires or cables which transmits electrical power or signals in the automobiles. As compared to the individual electric wires in an automotive, automotive wiring harness are better safeguarded against the impact of vehicular vibrations. Additionally, automotive wiring harness is more secure from abrasions and moisture. The global automotive wiring harness market is witnessing exponential growth due to the increasing automobile industry.

The automotive wiring harness broadly consists of six components namely electric wire, protector, grommet, terminal, tape and clamp. Automotive wiring harness industry is showing great advancements in increasing the efficiency of the harness. The price of automotive wiring harness have been declining in recent times due to falling copper prices (one of the raw material for automotive wiring harness) and several lawsuits against the price control practice of the key manufacturers. The fall in prices has further increased the demand for automotive wiring harness globally. In the European Union, six substances used in automotive wiring harness namely lead, mercury, hexavalent chromium, polybrominated biphenyls and polybrominated diphenyl ether must fall under RoHS lead-free directive.

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Among regions, Asia Pacific dominated the global automotive wiring harness market in 2013 followed by Europe. Japan is the leading producer of automotive wiring harness in Asia Pacific. With the increasing automobiles, Asia Pacific is expected to retain its leadership position by 2020.

The pacified European automobile market is expected to pick up the fast growth trend with its recovering economy which is expected to forward its benefit to the automotive wiring harness market.

The automotive wiring harness market for new energy vehicles including the electric and hybrid vehicles have higher per unit cost due to the higher production cost of high voltage wiring harness assembly. The special processing in terms of electricity transmitting capacity, mechanical strength, insulation protection and electromagnetic compatibility increases the production cost by 25%-50%. The increasing numbers of new energy vehicles are expected to boost the automotive wiring harness market significantly in terms of value. The Chinese market for new energy vehicles is increasing rapidly which is expected to attract significant demand for the automotive wiring harness market in this category.

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