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3. Yazaki Corporation (Japan), Sumitomo Electric Industries, Ltd. (Japan) and Aptiv PLC (Ireland) are leading players in Automotive Wiring Harness Market

The global automotive wiring harness market is projected to grow from USD 48.7 billion in 2023 to USD 59.5 billion by 2030, at a CAGR of 2.9% during the forecast period. The base year for the report is 2022, and the forecast period is from 2023 to 2030.

The automotive wiring harness market is growing due to increased vehicle production, demand for safety and comfort features, and the rise of electric vehicles. The market is dominated by top players like Yazaki Corporation (Japan), Sumitomo Electric Industries (Japan), Aptiv PLC (Ireland), Furukawa Electric (Japan), and Leoni AG (Germany). These major companies are focusing on new product development, partnerships, and joint ventures between 2023 and 2030 to expand their customer base and enhance their offerings. Automotive wiring harness manufacturers actively invest in R&D to introduce advanced harness types. In a recent example, Furukawa Electric developed an ultra-thin, high-fiber-count optical cable in July 2021. This innovative cable features a 12-core rollable ribbon with a highly slim 200-micrometer outer diameter, offering the world’s highest core density. It significantly reduces fusion splicing time and enables the installation of high-capacity networks, even within existing pipe conduits, due to its remarkably thin 2-millimeter outer diameter.

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Sumitomo Electric Industries is a global company that supplies wiring harnesses, automotive components, power distribution cables, and industrial materials. They have a strong presence in various parts of the world, including the Americas, Europe, Japan, and other Asian countries and has 400 subsidiaries present in more than 40 countries. Sumitomo Electric Industries operates in five main areas: automotive, environment and energy, electronics, industrial materials & others, and info-communications. In the automotive sector, they offer top-quality wiring harnesses, anti-vibration rubber products, and other car parts. These products are used in a variety of vehicles, including hybrid, plug-in hybrid, electric cars, and traditional gasoline vehicles. It offers products to the automotive, info-communications, electronics, energy and environment, and industrial materials industries. The company’s expertise extends to high-speed data transmission technology, enabling the creation of sophisticated products. Sumitomo Electric Industries, Ltd. has strategically expanded its global footprint by establishing operations in Tabasco, Mexico, and capitalizing on opportunities in China. These moves reinforce the company’s commitment to growth and strengthen its position in the automotive industry, showcasing its proactive approach to business development and market expansion.

Yazaki Corporation is a privately owned company specializing in the manufacturing and advancement of various automotive components. They provide electronic products, wire harnesses, and meters to the automotive sector, along with producing air-conditioning, solar and gas equipment, as well as electric wires and cables, all under their renowned brand, Yazaki. In addition to the automotive business, they are involved in various other sectors such as paper recycling, glass and food recycling, agribusiness, nursing care, and food. They operate globally in 45 countries, boasting 434 manufacturing facilities and 141 subsidiaries. One of Yazaki's primary offerings is wiring harnesses, which are crucial for a vehicle's safety and fundamental functions like moving, turning, and stopping. They are a key supplier of wiring harnesses to major car manufacturers in Japan. The company is known for its innovative technologies, including the Single Wire Harness system designed to reduce weight and enhance fuel efficiency. They also provide wiring harnesses for managing four network systems that are integrated into the vehicle network gateway. Yazaki plays a significant role in the global wiring harness market and actively contributes to the development of charging devices that enhance the performance and convenience of hybrid and electric vehicles.The company also expanded its Guanajuato, Mexico plant in June 2023, producing automotive wire harnesses. This expansion aligns with Yazaki's strategic growth plans in the Americas, where it currently operates ten manufacturing facilities, including those in Leon and Silao, Mexico. Expanding facility centers can enable companies to optimize their supply chain and logistics operations.

Aptiv PLC is a global manufacturer of vehicle components that specializes in providing electrical and electronic solutions, powertrain systems, and safety technologies to the automotive industry. Their products and services are utilized by major global vehicle manufacturers like General Motors, Ford Motor, Volkswagen, Daimler, Peugeot Citroen, Shanghai General Motors, Fiat, Hyundai, Geelv, and Toyota. With a presence in 48 countries, Aptiv operates through 131 major manufacturing sites and 11 major technical centers. They organize their business into two segments: Signal & Power Solutions and Advanced Safety & User Experience. The Signal and Power Solutions segment focuses on delivering comprehensive electrical architecture design, manufacturing, and assembly, which includes components like connectors, wiring assemblies, and harnesses. They also provide services related to cable management, electrical centers, and hybrid high voltage and safety distribution systems. Aptiv is recognized for introducing the concept of Smart Vehicle Architecture, an optimized and sustainable framework that enables centralized computing for autonomous vehicles. This architecture includes modular and automatable harness technology, creating a unified power and data backbone for enhanced vehicle functionality.The company is investing heavily in expanding its facilities, which will allow it to increase its production capacity, which can help meet growing customer demand. This can result in higher sales and revenue. In June 2022, Aptiv PLC acquired an 85% equity stake in Intercable Automotive Solutions, a leader in high-voltage power distribution and interconnect technology, which will function as an independent business unit under Aptiv's Signal & Power Solutions segment.

Related Reports:

Automotive Wiring Harness Market by Application (Engine, Chassis, Cabin, Body & Lighting, HVAC, Battery, Dashboard/Cabin, Seat, Sunroof, Door), ICE & EV Transmission Type, Data Rate, Component Material & Region - Global Forecast to 2030

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