Bioactive Wound Management Market
Bioactive Wound Management Market

Electric Vehicle Wiring Harness Market Forecast Expected to Witness a Sustainable Growth by 2028

The market is anticipated to increase from US$ 2,398.5 million in 2021 to US$ 7,167.0 million by 2028, according to our most recent market analysis, “Electric Vehicle Wiring Harness Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Vehicle Type, Product Type, and Material Type.” From 2021 to 2028, it is anticipated to expand at a CAGR of 16.9%. 

To adjust to the new normal, get through the economic slump, and stabilise the income losses brought on by the COVID-19 epidemic, governments all over the world are focused on electric transportation, or e-mobility, with improved vehicle safety systems. In addition, e-mobility is anticipated to help balance environmental sustainability with energy demand, offering this sector significant growth potential and job creation. Expanding demand for hybrid and electric vehicles as well as increased vehicle electrification are the main factors propelling the global market for electric vehicle wire harnesses. To limit the emission of hazardous gases, OEMs are being forced by strict emission standards for vehicles to produce hybrid and electric vehicles. Standards for automobiles’ Corporate Average Fuel Economy (CAFE) have been established by the US Department of Transportation.

Get Sample Copy of Report PDF: 

Commercial vehicles, drivers, and motor carriers are all subject to Canadian National Safety Code (NSC) rules. The NSC is a set of minimal requirements for commercial vehicle safety operations. The US, Germany, France, and Chinese governments have enacted laws and regulations requiring the use of cutting-edge technologies in automobiles. Every automobile must have safety features including driver-side airbags, speed alert systems, seatbelt reminders, and reverse parking sensors in order to be sold in India. The adoption of wiring harnesses that offer safe and dependable connections has increased as a result of the rising demand for safety features in EVs. A wiring harness composed of insulated material reduces the likelihood of problems with short-circuit, abrasion, and moisture.

Plug-in hybrid electric vehicles (PHEV), battery electric vehicles (BEV), hybrid electric vehicles (HEV), and fuel cell electric cars are the several vehicle types into which the electric vehicle wire harness market is divided (FCBEV). In 2020, the battery electric vehicle (BEV) market was worth US$ 1,344.4 million. The electric vehicle wiring harness market is divided into high voltage wiring harness and medium low voltage wiring harness based on the kind of product. The electric vehicle wiring harness market is similarly divided into glass optical fibre, plastic optical fibre, copper-clad aluminium wire, aluminium alloy wire, and others based on material type.

Impact of COVID-19 Pandemic on Electric Vehicle Wiring Harness Market

The pandemic presented significant difficulties for those involved in the automotive industry. The automobile industry’s players have launched a number of steps to deal with the pandemic’s effects on the supply chain disruptions. Automobile production has slowed as a result of the lockdowns imposed by the various governments; nevertheless, the supply chain’s effects started to improve in the second half of 2020.

Coroplast Fritz Müller GmbH & Co. KG; Cypress Industries; Fujikura Ltd.; Furukawa Electric Co., Ltd.; Motherson; Nexans Autoelectric Gmbh; Sinbon Electronics Co., Ltd.; Sumitomo Wiring Systems Ltd.; THB Group; and Yazaki Corporation are among the major companies operating in the electric vehicle wiring harness market.

Browse More Related Reports by the insight partners

Automotive Wiring Harness Market

Commercial Vehicle Wiring Harness Market

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi


Phone: +1-646-491-9876

Leave a Response