Wire Harness Market Share

APAC Market Statistics

The wire harness market in Asia Pacific is anticipated to reach a revenue share of over 47% during the forecast year due to the rising investment and development in renewable energy. Wire harnesses are crucial in renewable energy systems, such as wind turbines, solar panels, and energy storage systems, as they ensure sufficient and reliable power transmission.  According to the Institute for Energy Economics and Financial Analysis, there is a potential investment of USD 1.1 trillion in solar PV and offshore wind energy in Asia Pacific between 2025 and 2050, which could result in the production of 873 gigawatts (GW) of clean energy.

The surging electrification of aircraft in Japan is likely to create a huge demand for wire harnesses in the aerospace sector, as they are essential to allow for the distinct layout and systems of each aircraft. For instance, the engineering company IHI Technologies has been selected by Japan's New Energy and Industrial Technology Development Organization (NEDO) to develop airplane electrification technologies, including megawatt generators and an aircraft electric turbo compressor for its Green Innovation Fund initiative.

With a strong network of wire harness producers, China is equipped to serve its rapidly expanding electronics industry and provide outstanding solutions for cable wrapping and wiring looms.

Lately, South Korea has become one of the biggest players in the Asian electric vehicle (EV) business, which will have an effect on the market for automotive wire harnesses.

North America Market Analysis

Over the anticipated period, North America wire harness market is expected to see a notable increase in revenue driven by the surging penetration of telecommunication services. This has a substantial impact on the demand for wiring harnesses, which are specialized assemblies made up of cables, wires, connections, and other components designed to accommodate faster data transfer speeds. More than 85% of North Americans have a high-speed internet connection, reflecting the region's significant telecommunications service penetration.

Wire harness demand in the U.S. is rising in tandem with the increasing number of cutting–edge features being added to ICE–based vehicles, particularly passenger cars.

Increasing emphasis on enhancing vehicle fuel efficiency in Canada may augment the wire harness market by the end of 2036. For instance, between 2011 and 2025, fuel efficiency for light–duty vehicles sold in Canada is expected to increase by over 35%.