It is estimated that by 2031, the global electric vehicle wiring harness and connector market will reach 22.87 billion U.S. dollars, with a compound annual growth rate of 23.37% during the forecast period of 2021-2031

2021-12-13 20:00:35 By : Mr. Kent Chen

According to recent research, the rapid development of the electric vehicle field is conducive to the increase in demand for wiring harnesses and connectors. Compared with traditional internal combustion engine vehicles, the number of wires used in electric vehicles has almost doubled.

New York, November 16, 2021 (GLOBE NEWSWIRE) - announced the release of the report "Electric Vehicle Wire Harness and Connector Market-Global and Regional Market Analysis-Analysis and Forecast, 2020-2031"-https :/ / Therefore, the wiring weight of electric vehicles increases. Therefore, it is easy for OEMs to adopt aluminum wiring harnesses to reduce the weight of the wiring harness and increase the mileage of the vehicle. In addition, due to the high-voltage battery ecosystem in electric vehicles, the demand for high-voltage wires has increased. All the aforementioned developments in the wire harness market have also had a positive impact on the market, so the market is expected to show significant growth during the forecast period (2021-2031). Market segmentation of the global electric vehicle wiring harness and connector market (by propulsion type) Due to the large number of HEV production in Asia-Pacific and Japan, HEV wiring harnesses and connectors will generate the most value in 2020. Countries such as Japan rely on the share of HEV in the electric vehicle industry and have become one of the largest HEV manufacturers through leading companies such as Mitsubishi, Nissan Motor Co., and Honda. However, during the forecast period, the market will shift to BEV because BEV uses more wires than HEV. In addition, because the battery is larger, BEV deploys larger and thicker high-voltage wires than HEV. The global electric vehicle wiring harness and connector market is segmented by model. The passenger electric vehicle segment is expected to dominate the market throughout the forecast period. Compared with current commercial vehicles, more passenger vehicles can be directly attributed to. However, it should be noted that commercial vehicles use more wiring harnesses and connectors due to their large size and complex functions. As commercial electric vehicles are easily introduced into the field of electric vehicles, it will also grow at a faster rate over time. In 2020, the global electric vehicle wiring harness and connector market application body wiring harness will occupy the largest market share. The wiring harness used in the system plays various important roles in electric vehicles, and therefore, currently has the largest value and quantity in the market. Nevertheless, due to the increasing popularity of electric vehicles, high-voltage battery wiring harnesses will increase significantly during the forecast period . The low-voltage wiring harness segment of the global electric vehicle wiring harness and connector market by product type occupies a dominant position, although it will be surpassed by electric vehicle high-voltage wiring by the end of the forecast period. Low-voltage wiring harnesses account for nearly 70% of all wiring harnesses present in electric vehicles. It is required for all auxiliary functions of electric vehicles, such as infotainment systems, doors, seats, HVAC, and engines. However, with the popularization of electric vehicles, the demand for high-voltage wires is also increasing. The global electric vehicle wiring harness and connector market by material type uses twice the amount of copper used in electric vehicles than is usually required by internal combustion engine vehicles. In addition, because copper has excellent electrical conductivity and mechanical strength, all wires in vehicles are made of copper; however, aluminum is becoming the favorite material of electric vehicle OEMs so that they can reduce the weight of their cars. However, during the entire forecast period, copper will dominate the market. The global electric vehicle wiring harness and connector market by component type The wiring harness is the main component of the wiring harness. Therefore, it will dominate the market throughout the forecast period. Wires are generally made of copper, surrounded by one or more insulating layers to protect and prevent energy loss. In addition, in luxury electric vehicles, a large number of wires are involved to achieve complex electrical functions. In addition, larger cars tend to use larger and heavier wires and connectors to perform operations. The global electric vehicle wiring harness and connector market by region is expected to become the largest market for electric vehicle wiring harnesses and connectors in 2031, and it will also become the second largest electric vehicle wiring harness and connector market after the Asia-Pacific and Asia-Pacific regions. Japan. China's electric vehicle market will be the largest in 2020 and is expected to grow exponentially. Therefore, the use of wire harnesses in China is also increasing. In addition, a large number of electric vehicles in China's commercial fleet are also deployed for taxi services. In addition, it is easy for China to electrify its existing ICE fleet into electric vehicles, which will deploy additional high-voltage wiring harnesses and connectors. Summary of main market players and competition Sumitomo Electric Industries, Ltd., Leoni AG, Aptiv PLC, Fujikura Ltd., Kromberg & Schubert GmbH, Coroplast Group, SINBON Electronics Co., Ltd., Korea Electric Terminal Co., Ltd., EG Electronics, LS Cable & System Ltd., TE Con​​nectivity, ACOME, Gebauer & Griller, Continental AG, Lear Corporation Annual revenue, market penetration, R&D plans, and domestic and international influence of connectors and connectors. Covering countries • North America • United States • Canada • Mexico • Europe • Germany • France • Italy • Spain • Rest of Europe • United Kingdom • China • Asia Pacific And Japan•Japan•Korea•India•Other Asia-Pacific and Japan•Rest of the World (RoW) Read the full report: About Reportlinker ReportLinker is a multi-account An award-winning market research solution. Reportlinker finds and organizes the latest industry data so that you can get all the market research you need immediately in one place. __________________________

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