North America EV Wiring Harness Market Research Report Forecast to 2027


Market Overview
Strategic initiatives by major players and development of aluminum wiring harness will spur market growth. The North America EV Wiring Harness Market is projected to grow at a CAGR of 30.21% over the forecast period, 2021 – 2027.
A wiring harness is a structured set of wires, terminals and connectors which run throughout the vehicle and relay information and electric power. The wiring harness plays a major role in connecting a wide variety of components in an automotive. It is used for transmitting power and information throughout the vehicle. A harness secures wires and cables against the adverse effects caused by abrasions, moisture, and vibrations in the car.
The North America EV wiring harness market is driven by factors such as strategic initiatives by major players and development of aluminum wiring harness. However, over-heating or short circuit of the wiring harness is expected to restrain market growth. Growing use of vehicle electronic systems are expected to create opportunities for the market players.
Market Segmentation
This section analyses the market size and growth of the EV wiring harness market in North America, along with a split between high voltage and low voltage cables. Besides, EV wiring harness analysis by material and type of flame retardants are covered in this section.
The rapidly growing EV market is reliant upon a network of cables to support charging. High voltage cables find applications in charging EVs, battery harness and traction harness. Domestic and global players would look to the EV charge connectors and cables of high voltages for vehicle connections.
Low voltage cables include automotive cables for the electric vehicle itself, such as cables for low-tension electrical wiring in starting, lighting, signalling, and instrument panel circuits. The low voltage EV wiring harnesses are suitable for the connections inside the vehicle. The applications involved lighting, motor control, audio harness, HVAC, and door harness. Such low voltage EV cables are engineered to meet UL and SAE standards and offer superior durability for wiring inside the vehicle. The XLPE segment accounted for the largest market share in 2020, with a market value of USD 654.9 million; it is expected to register a CAGR of 27.9% during the forecast period. The Silicone Rubber segment was valued at USD 229.0 million; it is projected to exhibit a CAGR of 35.6%.
Regional Analysis
The North America EV Wiring Harness Market has been segmented, based on country, into US, Canada, Mexico.
Major Players
Sumitomo Electric Industries Ltd (Japan), Furukawa Electric Co. Ltd (Japan), Yazaki Corporation (Japan), and LEONI AG Germany (Germany).