North America Electric Vehicle Wiring Harness Market

Market Introduction

The North America electric vehicle wiring harness market constitutes countries such as the US, Canada, and Mexico. North America’s technological advancements have made it a highly competitive market. The region is investing significantly for electric vehicle adoption. Companies from various industries are enhancing the overall business processes to meet the customer demands for high-quality products. North America has a developed automotive industry. Therefore, it has one of the most significant commercial vehicle production and sales nations across the world. As per the International Organization of Motor Vehicle Manufacturers (OICA) data, in 2018, 2019, and 2020, the production of commercial vehicles was 12,408,395, 12,426,534, and 10,153,667 units, respectively. Moreover, the region has a presence of automotive manufacturers, such as Navistar, PACCAR, BMW, Freightliner (Daimler), Toyota, Volvo, and General Motors. Also, the governments of the countries in North America are taking initiatives for the development of the automotive sector. In 2020, The Department of Energy of the US administered the Advanced Technology Vehicle Manufacturing Loan Program worth US$ 40 billion. Such factors are driving the growth of the EV industry in the region. Further, with the increasing demand for fuel-efficient vehicles and strict emission norms, automobile manufacturers have been making a transition from gasoline engines to electric vehicles. The COVID-19 pandemic has had a rapid and severe impact on the global electric vehicle wiring harness market. The production of automobile was ceased for few weeks in 2020, owing to the shutdown of plants of various end-use industries in the region as containment measures, which has affected the wiring harness revenues in the region. However, the impact of COVID-19 is short-term, and the electric vehicle wiring harness market started gaining traction since the start of 2021 as various city offices slowly resumed their operations.

In case of COVID-19, North America is highly affected specially the US. The US automotive manufacturers witnessed the most severe impact of COVID-19 in 2020 with enactment of lockdowns and travel restrictions, shut down of production facilities, and shortage of employees. The health and economic crises led to major disruptions in the electric vehicle wiring harness industry, impacting everything from supply chain and manufacturing to product sales. However, progress in vaccination programs and opening up of production facilities would stimulate demand for cars, thereby boosting the demand for electric vehicle wiring harness for enhanced safety in the coming years. Initiatives such as the zero-emission vehicle mandates is projected to increase EV purchases in North America. Such policies can bolster charging infrastructure plans, and structure stimulus packages. Effective policy tools to mitigate greenhouse gases for the transport sector can further support EV adoption. This can boost the demand for wiring harnesses to connect all electric and electronic components, enabling the communication and information flow, and energy provision in a vehicle.

North America Electric Vehicle Wiring Harness Strategic Insights

Strategic insights for the North America Electric Vehicle Wiring Harness provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Electric Vehicle Wiring Harness Report Scope

North America Electric Vehicle Wiring Harness Regional Insights

The geographic scope of the North America Electric Vehicle Wiring Harness refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America electric vehicle wiring harness market is expected to grow from US$ 442.63 million in 2021 to US$ 1,342.82 million by 2028; it is estimated to grow at a CAGR of 17.2% from 2021 to 2028. Consumer preference of individual transport and demand for autonomous vehicles have led to the rise in automated vehicle sale. The governments across the region are focusing on electric mobility or e-mobility with enhanced vehicle safety systems to adapt to the new normal, overcome the economic slowdown, and stabilize the revenue losses caused by the outbreak of COVID-19 pandemic. E-mobility is also expected to contribute toward balancing the energy demand and environmental sustainability, providing lucrative growth potential and employment generation in this market. The expanding demand for hybrid and electric vehicles and increasing electrification of vehicles are the primary factors, driving the market. Stringent emission norms for vehicles are forcing OEMs to manufacture hybrid and electric vehicles to reduce the emission of harmful gases. The Governments of several countries have implemented laws and regulations to mandate the use of advanced technologies in vehicles. In several countries, safety provisions, including driver-side airbags, speed-alert systems, seatbelt reminders, and reverse parking sensors, are compulsory for every car to be eligible for being sold. The increasing demand for safety features in EVs has augmented the uptake of the wiring harness that provides secure and reliable connections. A wiring harness made of insulated material diminishes the chances of short-circuit, abrasion, and moisture-related issues. The increasing use of safety sensors and automated steering control systems can also provide numerous opportunities for the North America market's growth.

Key Market Segments

In terms of vehicle type, the battery electric vehicle (BEV) segment accounted for the largest share of the North America electric vehicle wiring harness market in 2020. In terms of product type, the high voltage wiring harness segment held a larger market share of the North America electric vehicle wiring harness market in 2020. Further, the copper-clad wire segment held a larger share of the North America electric vehicle wiring harness market based on material type in 2020.      

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the North America electric vehicle wiring harness market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Coroplast Fritz Müller GmbH & Co. KG; Cypress Industries; Fujikura Ltd.; Furukawa Electric Co. Ltd.; Motherson Sumi Systems Ltd.; Nexans autoelectric GmbH; SINBON Electronics Co., Ltd.; Sumitomo Electric Industries, Ltd.; THB Group; and Yazaki Corporation among others.

Reasons to buy report

• To understand the North America electric vehicle wiring harness market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America electric vehicle wiring harness market
• Efficiently plan M&A and partnership deals in North America electric vehicle wiring harness market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America electric vehicle wiring harness market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Electric Vehicle Wiring Harness Market Segmentation

North America Electric Vehicle Wiring Harness Market - By Vehicle Type

• Plug-in Hybrid Electric Vehicles (PHEV)
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicles (HEV)
• Fuel Cell Electric Vehicles (FCBEV)  

North America Electric Vehicle Wiring Harness Market -

By Product Type

• High Voltage Wiring Harness
• Medium Low Voltage Wiring Harness

North America Electric Vehicle Wiring Harness Market -

By Material Type

• Copper-Clad Wire
• Aluminum Alloy Wire
• Glass Optical Fiber
• Plastic Optical Fiber
• Others

North America Electric Vehicle Wiring Harness Market - By Country

• US
• Canada
• Mexico   

North America Electric Vehicle Wiring Harness Market - Company Profiles

• Coroplast Fritz Müller GmbH & Co. KG
• Cypress Industries
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Motherson Sumi Systems Ltd.
• Nexans autoelectric GmbH
• SINBON Electronics Co., Ltd.
• Sumitomo Electric Industries, Ltd.
• THB Group
• Yazaki Corporation