Electric Vehicle Wire Harness Market is segmented by Vehicle Type (Light Vehicles and Commercial Vehicles), PowertrainType (BEV and Hybrid), Voltage Type (Low-Voltage Products [Main Harness, Auxiliaries, Cockpit, ICE Harness, and E-Motor] and High-Voltage Products [AC/DC Wiring, Auxiliaries, Traction, and Others]), Product Type (Copper Core, Aluminum Core, and Others), and Region (North America [USA, Canada, and Mexico], Europe [Germany, France, The UK, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
Electric Vehicle Wire Harness Market is segmented by Vehicle Type (Light Vehicles and Commercial Vehicles), Powertrain Type (BEV and Hybrid), Voltage Type (Low-Voltage Products [Main Harness, Auxiliaries, Cockpit, ICE Harness, and E-Motor] and High-Voltage Products [AC/DC Wiring, Auxiliaries, Traction, and Others]), Product Type ...
Electric Vehicle (EV) cables encompass a range of automotive cables necessary for both electric and traditional petrol & diesel vehicles. These include standard wall FL auto and reduced wall FLR auto cables for low-tension electrical wiring used in starting, charging, lighting, signaling, and instrument panel circuits, along with FLRYY cables for trucks (ADR approved) and FHL2G and FHLR2GCB2G cables for powertrain units. Additionally, specific cables adhere to the standards of major manufacturers such as Fiat and BMW.
Market Drivers
The rapidly growing EV market heavily relies on a network of cables to support various charging needs. The importance of cables in transmitting power and data throughout electric and hybrid vehicles over extended periods cannot be overstated. Before specifying cable requirements, it is crucial to consider the mechanical stresses, temperature requirements, chemical tolerances, EMI levels, and other factors they will encounter. Based on the vehicle's operational profile and the specific cable requirements, various design simulations and testing techniques might be conducted. These procedures are essential to certify the cables' key performance characteristics, ensuring they meet UL and NEC standards for charging, and SAE and ISO standards for internal cables.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Powertrain Type Analysis
BEV and Hybrid
BEV is expected to remain the biggest demand generator in the years to come.
Voltage Type Analysis
Low-Voltage Products and High-Voltage Products
Low-voltage products dominate the market; however, high-voltage products are witnessing faster growth.
Vehicle Type Analysis
Light Vehicles and Commercial Vehicles
Light Vehicle continues generating a huge demand for wires & cables in the years to come.
Product Type Analysis
Copper Core, Aluminum Core, and Others
Copper core is anticipated to contribute the largest share of the market, whereas Aluminum core is likely to be the fastest-growing product type.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
Asia-Pacific is expected to maintain its reign over the forecast period.
By Powertrain Type
“BEV is expected to remain dominant as well as the fastest-growing vehicle type in the market during the forecast period.”
The Electric Vehicle Wire Harness Market is broadly segmented into BEV (Battery Electric Vehicles) and Hybrid vehicles. BEVs are expected to remain the attractive segment in the market during the forecast period. Advances in battery technology have significantly increased the range and decreased the cost of BEVs, making them more attractive to consumers.
Additionally, the expanding infrastructure for charging stations is addressing one of the primary concerns about BEV practicality. Consumer awareness and the increasing availability of BEV models from various automakers are also contributing to the rapid growth of this segment.
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By Product Type
“Copper core is expected to remain the dominant product type, whereas aluminum core to depict the fastest growth in the market during the forecast period.”
The market is segmented based on product type into copper core, aluminum core, and others. Tin copper is commonly used for braiding due to its excellent corrosion resistance. However, aluminum is gaining popularity because of its lighter weight compared to other metals. Despite its advantages, aluminum poses challenges and higher costs in processing due to its tendency to oxidize readily in air, complicating the formation of reliable connections.
Copper is typically preferred for wires & cables due to its excellent conductivity. Electric vehicles (EVs) contain significantly more copper compared to conventional cars. Internal combustion engine (ICE) vehicles use about 19 to 48 lbs of copper, whereas battery electric vehicles (BEVs) use approximately 183 lbs of copper. This higher copper content increases both, the cost and weight of EVs. To address these issues, the industry is increasingly turning to aluminum, which is much more cost-effective and offers over 50% weight savings compared to copper. Although aluminum has lower conductivity, this can be compensated by using larger diameter conductors, reducing resistance to levels comparable to copper.
Regional Analysis
“Asia-Pacific is likely to remain the largest as well as the fastest growing marketduring the forecast period.”
In terms of regions, Asia-Pacific is expected to remain the largest market for automotive wires & cables during the forecast period. The region’s electric vehicle (EV) market is experiencing rapid growth driven by supportive government policies and incentives, rising environmental awareness, and significant investments in charging infrastructure. Technological advancements, particularly in battery technology, are enhancing vehicle performance and reducing costs, making EVs more affordable. Major automotive manufacturers are increasingly focusing on EV production, supported by collaborations and investments in EV technology. These factors, along with efforts to reduce greenhouse gas emissions and urban pollution, are collectively propelling the region's EV market forward.
As per IEA, in 2023, China saw a remarkable increase in new electric car registrations, reaching 8.1 million, a 35% rise from 2022. This surge occurred despite the cessation of national subsidies for EV purchases, which had supported market growth for over a decade. Tax exemptions and non-financial support for EV purchases were extended, recognizing the automotive industry's role in driving economic growth. Provincial support and investment also continue to play a crucial role. As the market matures, it is experiencing increased price competition and industry consolidation. Additionally, China became the world's largest auto exporter in 2023, exporting over 4 million cars, including 1.2 million EVs, marking a 65% increase in total car exports and an 80% increase in EV exports from the previous year.
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Key Players
The market is highly consolidated with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. Some of the major players are providing a complete range of services including wires, cables, and related electronic components.
The following are the key players in the electric vehicle wire harness market (arranged alphabetically).
Note:The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Electric Vehicle Wire Harness Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Who are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Electric Vehicle Wire Harness Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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Recent Market News
Some of the strategic alliances including M&As, JVs, etc. have been performed over the past few years:
In June 2023, Aurrigo acquired UK-based GB Wiring Systems Limited to enhance capabilities in the core automotive area of wiring harness and electrical components.
In June 2023, Delta Electronics, Inc. acquired 100% shareholding of HY&T Investments Holdings B.V. and its subsidiaries, including TB&C Group which is a leading provider of automotive high voltage hybrid components, to strengthen its EV business.
Recent Product Development:
Advancements in automotive technology include the development of next-generation cables for high-current applications with smaller diameters. Leoni has introduced new AC charging cables using LEONI EcoSense Nxt and LEONI EcoSense technologies. The LEONI EcoSense Nxt+ product line is power-optimized to carry the highest available current level for each application, reducing the conductor cross-section and achieving a 6% weight reduction for Nxt and 20% for Nxt+. The Nxt cables have a 4% smaller diameter, while Nxt+ cables are 9% smaller than the previous generation. These next-generation cables meet IEC, EN, and GBT standards, enabling EV charging in 167 countries, with specific cables for Japan (PSE) and North America (UL). Both product lines offer cables ranging from 3×1.5 mm²+X to 5×10 mm²+X.
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Electric Vehicle Wire harnesses are critical for the operation and charging of electric vehicles. They are used internally within the vehicle to connect components like the battery, motor, and electronic systems, requiring robust insulation to handle high voltages and currents safely.
The Electric Vehicle Wire Harness Market is estimated to grow at a CAGR of 14.1% by 2030, propelled by increasing automotive production, increasing electric powertrain penetration, and a rise in electronic content in modern vehicles.
Sumitomo Electric Industries, Ltd., Yazaki Corporation, Leoni AG, Aptiv plc, Fukura Electric, Lear Corporation, Dräxlmaier, TE Connectivity, and Coficab are the leading players in the EV Wires & Cables market.
China is estimated to remain dominant in the Electric Vehicle Wire Harness Market in the foreseeable future. China's Electric Vehicle Wire Harness Market is further bolstered by rapid urbanization and the rising demand for sustainable transportation solutions. The country's strategic initiatives, such as the "Made in China 2025" plan, emphasize the development of high-tech industries, including electric vehicles and their components. This has led to substantial R&D investments and the establishment of numerous EV manufacturing plants.
India is likely to remain the fastest-growing market for Electric Vehicle Wire Harness in the foreseeable future driven by government incentives and policies aimed at reducing emissions and promoting clean energy, rising environmental awareness among consumers, and growing investments in EV infrastructure and technology. Additionally, increasing fuel prices and the push for energy independence are accelerating the shift towards electric mobility. Innovations in battery technology and a broader range of affordable EV options are also contributing to the market's growth, making EVs more accessible and appealing to a larger segment of the population.
The copper core is expected to be dominant in the market in the coming years due to a host of factors, including growing demand for high-speed data lines, requirements of excellent conductivity, and rising adoption of lightweight components coupled with high reliability and compatibility.
