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Wire Harness Market Share

Report ID: GMI9088
Published Date: Apr 2024
Report Format: PDF

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Wire Harness Market Share

Sumitomo Electric Industries, Yazaki Corporation and Furukawa Electric held significant market share of over 15% market share in 2023. These leading companies' concerted efforts to enhance wire harness industry demand involve strategic investments in research and development, innovative product designs, and expanding manufacturing capabilities. By focusing on customer-centric solutions, improving product quality, and optimizing supply chain efficiency, companies aim to meet the evolving needs of industries and capitalize on the growing demand for wire harnesses in various sectors.

Moreover, they are focusing on expanding globally and through acquisitions to secure a strong market position. They're also innovating with new product lines and collaborating with automakers to meet the growing demand for complex wiring systems in electric and hybrid vehicles.

Wire Harness Market Companies

Major players operating in the market are:

Amphenol Corporation
Furukawa Electric
Kromberg & Schubert
Lear Corporation
Leoni AG
Manitou Group Gear
PKC Group (Motherson)
Sumitomo Electric Industries
TE Connectivity
Yazaki Corporation

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for wire harness was valued at USD 95.5 billion in 2023 and is set to grow at over 4% CAGR between 2024 and 2032, driven by the need for efficient and reliable electrical systems in various industries, such as automotive, aerospace, and electronics.

Wire harness industry from the engine harness product segment was valued at over USD 13 billion in 2023 and will grow rapidly till 2032, as they serve as vital conduits for transmitting electrical signals and power within engines, ensuring their efficient and reliable operation.

Asia Pacific wire harness industry held a revenue share of 45% in 2023 and will grow rapidly till 2032, driven by rapid urbanization and the expansion of manufacturing facilities.

Amphenol Corporation, Furukawa Electric, Kromberg & Schubert, Lear Corporation, Leoni AG, Manitou Group Gear, PKC Group (Motherson), Sumitomo Electric Industries, and TE Connectivity among others.