Electric And Autonomous Vehicles Wiring Harness Market Size (2024 - 2029)

Electric & Autonomous Vehicles Wiring Harness Market Analysis

The Electric And Autonomous Vehicles Wiring Harness Market size is estimated at USD 5.60 billion in 2024, and is expected to reach USD 15.51 billion by 2029, growing at a CAGR of greater than 18% during the forecast period (2024-2029).

Over the long term, the interest and preferences toward electric vehicles increased significantly in various countries across the globe. Moreover, globally, the government encourages automobile manufacturers to invest and develop electric vehicles to reduce carbon emissions caused by diesel and gasoline fuel combustion. Such factors enhance the growth of the wiring harness used in electric and autonomous vehicles.

Technology advancement and increasing safety norms are increasing the components and electronics in the vehicle, which is also boosting the requirement of the wiring harness. Technological advancements and innovations in systems primarily drive the market.

In developed nations, the rising consumer preference toward driving convenience and safety is driving the market's growth. The adoption of navigation and infotainment systems, among others, became standard features in most cars across the world. To connect these systems and the central electronic control unit, automotive wiring harnesses are required.

The rising demand for vehicle safety and stringent government rules drive the ADAS market growth. Introducing new technologies in vehicles, such as x-by-wire systems, blind spot detection, collision avoidance systems, adaptive cruise control, etc., are increasing the usage of electronic equipment and systems. The use of more electronic equipment is expected to drive the wiring harness market in electric and autonomous vehicles.

Electric & Autonomous Vehicles Wiring Harness Industry Segmentation

A wiring harness is a logical arrangement of wires, terminals, and connectors that runs throughout the entire vehicle and transmits data and electrical power, effectively "connecting" several different components.

The electric and autonomous vehicle wiring harness market is segmented into vehicle type, application type, components, and geography. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By application type, the market is segmented into powertrain, comfort and convenience, safety and security, body wiring, and others. By components, the market is segmented into wires, terminals, relays, fuses, connectors, and others. By Geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the World.

For each segment, the market sizing and forecast are done based on the value (USD) for all the above segments.