Wiring Harnesses and Connectors for Electric Vehicles Industry Overview

The automotive industry is experiencing rising adoption of electric vehicles due to changing consumer preferences, rising concerns with regard to driver safety, environmental concerns, and acute government regulations and policies. Major original equipment manufacturers (OEMs) are constantly working on development for making electric vehicles more safe, affordable, and efficient. Over time, the automotive industry is evolving, and technical advancements are being made for electric vehicle accessories such as battery systems, cooling systems, wiring harness systems, and other infrastructure. Wiring harnesses remain to be one of the most crucial components of any vehicle as they comprise one of the heaviest and most expensive parts of the vehicle. In addition to this, these are usually customized based on a car’s model and its requirements; the cable system is tailor-made to optimize the vehicular model as much as possible.

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The wiring system is usually divided into high voltage electric wire harnesses and low voltage electric wire harnesses. The high voltage harness is used for the battery connections as they require additional expensive high-voltage lines for AC-DC charging, high-voltage batteries, and traction, as well as special wiring for the main battery and the battery management system. The low voltage harnesses are usually used in the sensory framework of the car and doors. These low voltage harnesses also make up the dashboard and infotainment system of the vehicle.

Considering the effect of COVID-19 on the North America market, several businesses, such as Volkswagen, Honda, Ford, Daimler, Mercedes, and Nissan, around the globe concentrated on manufacturing accessories to bolster the global health care systems. Therefore, there was a shortage of funds for companies to invest in their R&Ds. This led to the decline in the sales of electric vehicles in general. Consequently, the supply chain of wiring harnesses and connectors manufacturers got disrupted, and it inadvertently affected their growth. However, as the COVID-19 is normalizing and the electric car sales are picking pace, wiring harness manufacturers will also witness a surge in demand in the coming years.

Passenger Electric Vehicles will be dominating the market throughout the forecast period. It can be directly attributed to the larger number of passenger vehicles when compared to commercial vehicles currently. However, it is to be noted that commercial vehicles use more of wiring harnesses and connectors owing to their larger size and complex functions. It will also grow at a faster rate over time as electric commercial vehicles are readily being introduced in the EV domain.

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Wiring Harnesses and Connectors for HEVs generated the most value in 2020 owing to the large number of HEV production in Asia-Pacific and Japan. Countries such as Japan relies on HEVs for their share in the electric vehicle industry and is one of the largest producers of HEVs through leading companies such as Mitsubishi, Nissan Motor Company, and Honda, among others. However, the market will shift towards BEVs over the forecast period as BEVs use larger number of wires than HEV. Also, BEV deploys larger and thicker high voltage wires when compared with HEVs owing to the bigger battery.

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