As per MRFR analysis, the bus and truck wiring harness market size was estimated at 27.12 (USD Billion) in 2022. The bus and truck wiring harness market industry is expected to grow from 28.57(USD Billion) in 2023 to 45.6 (USD Billion) by 2032. The bus and truck wiring harness market CAGR (growth rate) is expected to be around 5.34% during the forecast period (2024-2032).
Advancements in autonomous vehicles and electric vehicles are transforming the bus and truck wiring harness market. Autonomous vehicles require more complex wiring systems to support numerous sensors and cameras.
Electric vehicles, on the other hand, necessitate specialized harnesses to manage high-voltage power. The growing demand for safety features, such as advanced driver-assistance systems (ADAS) and airbags, also drives market growth.
Additionally, the trend toward lightweight vehicles to enhance fuel efficiency further fuels the need for advanced wiring solutions. OEMs and tier suppliers are investing in research and development to optimize harness designs for improved performance, reliability, and cost-effectiveness.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The increasing incorporation of advanced technologies, such as automated driving systems, infotainment systems, and safety features, is driving the demand for more sophisticated and complex wiring harnesses. These systems require a high number of sensors, actuators, and other electronic components, which need to be interconnected seamlessly.
The growing adoption of electric and hybrid vehicles is also contributing to the demand for specialized wiring harnesses that can handle the unique requirements of these powertrains. Furthermore, the integration of advanced driver-assistance systems (ADAS) and autonomous driving technologies is expected to further drive the demand for more capable and reliable wiring harnesses.
The increasing globalization of trade and e-commerce is leading to a surge in demand for commercial vehicles, including buses and trucks. The growth in online shopping and the expansion of logistics and transportation networks are driving the need for more efficient and reliable commercial vehicles.
This, in turn, is increasing the demand for high-quality wiring harnesses that can meet the specific requirements of these vehicles. Moreover, the growing popularity of electric and hybrid commercial vehicles is creating new opportunities for manufacturers of wiring harnesses.
Stringent government regulations and safety standards related to vehicle safety and emissions are also driving the growth of the global bus and truck wiring harness market. Governments worldwide are implementing stricter fuel efficiency and emission reduction targets, which is leading to the adoption of advanced technologies and materials in wiring harnesses. Additionally, regulations aimed at improving vehicle safety are driving the demand for wiring harnesses with enhanced durability, reliability, and fire resistance.
The global bus and truck wiring harness market is divided by vehicle type which includes buses and trucks. The bus segment holds a larger share in 2023 and is anticipated to grow in a decent manner during the forecast period. The growth is driven by the increasing demand for public transport in urban areas on which the population is relying and by the growing inclination towards electric and hybrid buses.
The truck segment is also expected to grow during the forecast period. The growth is expected to be driven by the growing demand for buses and trucks and by the growing adoption of advanced technologies in the automotive industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The wires segment is a crucial component of the global bus and truck wiring harness market, contributing significantly to its overall growth. The segment encompasses two primary types: single core and multi core.
Single core wires are characterized by a single electrical conductor surrounded by insulation, while Multi Core wires comprise multiple insulated conductors bundled together. The single core wire segment holds a substantial market share due to its widespread use in low-voltage applications and cost-effectiveness. These wires are commonly employed in lighting, control circuits, and sensors.
The multi core wire segment, on the other hand, is gaining traction in high-voltage and data transmission applications. Its ability to transmit multiple signals simultaneously makes it suitable for complex electrical systems in modern buses and trucks.
In 2023, the global bus and truck wiring harness market revenue for wires is projected to reach USD 12.5 billion. The segment is anticipated to grow at a steady pace, driven by the increasing demand for advanced wiring solutions in the automotive industry. The growing adoption of electric and hybrid vehicles, coupled with the integration of sophisticated electronics, is fueling the demand for high-quality and reliable wiring harnesses.
Key market players are focusing on developing innovative wire technologies to meet the specific requirements of bus and truck manufacturers. The use of lightweight materials, improved insulation, and advanced manufacturing techniques are contributing to the overall growth of the Wires segment.
The global bus and truck wiring harness market segmentation by harness type such as engine wiring harness, body wiring harness, and trailer wiring. Harness offers valuable insights into the industry's growth dynamics.
Engine wiring harness holds the largest market share due to its critical role in managing engine operations and ensuring optimal vehicle performance. With the increasing demand for advanced engine systems and electrification, the Engine Wiring Harness segment is projected to maintain its dominance throughout the forecast period.
Body wiring harness, responsible for connecting electrical components within the vehicle's body, is also witnessing significant growth due to the rising demand for comfort and convenience features in buses and trucks. Trailer Wiring Harness, used for connecting the electrical systems of the truck to the trailer, is expected to grow steadily as the transportation industry expands and logistics operations become more efficient.
The global bus and truck wiring harness market is segmented by application into passenger transportation, logistics and transportation, construction and mining. The passenger transportation segment is the largest segment and is expected to continue to grow at a steady pace in the coming years.
The growth of this segment is attributed to the increasing demand for buses and trucks for public transportation, tourism, and private use. The Logistics and Transportation segment is the second largest segment and is expected to grow at a significant rate in the coming years.
The growth of this segment is attributed to the increasing demand for trucks for the transportation of goods and materials. The construction and mining segment is the third largest segment and is expected to grow at a moderate rate in the coming years. The growth of this segment is attributed to the increasing demand for trucks for construction and mining activities.
The global bus and truck wiring harness market is segmented into North America, Europe, APAC, South America, and MEA. The market in North America is expected to reach a valuation of USD 12.3 billion by 2024, owing to the increasing demand for buses and trucks in the region. Europe is another key market for bus and truck wiring harnesses, with a projected valuation of USD 10.1 billion by 2024.
The APAC region is expected to witness significant growth in the bus and truck wiring harness market, with a projected valuation of USD 8.9 billion by 2024. The market in South America is expected to reach a valuation of USD 2.6 billion by 2024, while the MEA market is projected to reach a valuation of USD 2.1 billion by 2024.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the bus and truck wiring harness market are continuously developing new and innovative products to cater to the changing needs of customers. Leading market players are also focusing on expanding their global reach and establishing strategic partnerships with other companies in the bus and truck wiring harness market ecosystem.
The market is expected to witness significant growth in the coming years, driven by factors such as increasing demand for new vehicles, rising demand for advanced safety features, and growing popularity of electric vehicles. The ecosystem is highly competitive, with several major players vying for market share. Some of the key players in the market include Sumitomo Wiring Systems, Yazaki Corporation, Aptiv PLC, TE Connectivity Ltd., and Leoni AG.
Yazaki Corporation is a leading provider of wiring harnesses and other electrical components for the automotive industry. The company has a strong presence in the bus and truck wiring harness market, and it supplies wiring harnesses to a wide range of bus and truck manufacturers.
Yazaki Corporation is known for its high-quality products and its commitment to innovation. The company is continuously developing new and innovative wiring harness solutions to meet the changing needs of its customers. Yazaki Corporation is also focusing on expanding its global reach, and it has established strategic partnerships with several companies in this ecosystem.
Aptiv PLC is another leading player. The company is a global provider of electrical and electronic components for the automotive industry. Aptiv PLC has a strong presence in the market, and it supplies wiring harnesses to a wide range of bus and truck manufacturers.
Aptiv PLC is known for its high-quality products and its commitment to innovation. The company is continuously developing new and innovative wiring harness solutions to meet the changing needs of its customers.
Yazaki Corporation
Leoni
Calsonic Kansei
Visteon
Aptiv
Draka
Hella
Furukawa Electric
Autoliv
Nexans
Sumitomo Wiring Systems
Motherson Sumi Systems
Kostal
Delphi Technologies
TE Connectivity
The global bus and truck wiring harness market is expected to exhibit significant growth, reaching an estimated valuation of USD 45.6 billion by 2032, expanding at a robust CAGR of 5.34% over the forecast period (2024-2032). The market growth is driven by increasing production of commercial vehicles, particularly in emerging economies, coupled with rising demand for advanced safety features and enhanced connectivity.
Recent developments include collaborations and strategic partnerships among key players to expand market presence and enhance product offerings. Ongoing technological advancements, such as the adoption of lightweight materials and smart wiring systems, are also expected to shape the industry landscape in the coming years.
Buses
Trucks
Single Core
Multi Core
Engine Wiring Harness
Body Wiring Harness
Trailer Wiring Harness
Passenger Transportation
Logistics and Transportation
Construction and Mining
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 27.12 (USD Billion) |
| Market Size 2023 | 28.57 (USD Billion) |
| Market Size 2032 | 45.6 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.34% (2024-2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Yazaki Corporation, Leoni, Calsonic Kansei, Visteon, Aptiv, Draka, Hella, Furukawa Electric, Autoliv, Nexans, Sumitomo Wiring Systems, Motherson Sumi Systems, Kostal, Delphi Technologies, TE Connectivity |
| Segments Covered | Vehicle Type, Wires, Harness Type, Application, Region |
| Key Market Opportunities | Electric Vehicle Proliferation Autonomous Driving Advanced Safety Features Demand for Lightweight Materials Growing Bus and Truck Fleet |
| Key Market Dynamics | Increased Electric Vehicle Adoption Growing Demand for Safety Features Stringent Emission Regulations Technological Advancements Rising Demand for Commercial Vehicles |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global bus and truck wiring harness market is expected to reach USD 45.6 billion by 2032, growing at a CAGR of 5.34% from 2024 to 2032.
Asia Pacific is expected to hold the largest market share in the bus and truck wiring harness market, accounting for over 40% of the market in 2023.
Key growth drivers of the market include increasing demand for commercial vehicles, rising adoption of advanced driver assistance systems (ADAS), and growing focus on safety and efficiency.
The electric vehicles segment is expected to witness the highest growth in the global bus and truck wiring harness market, driven by increasing adoption of electric vehicles and government regulations promoting their use.
Key competitors in the global bus and truck wiring harness market include Aptiv, Leoni, Sumitomo Electric Industries, Yazaki, and Delphi Technologies.
The global bus and truck wiring harness market is expected to grow at a CAGR of 5.34% from 2024 to 2032.
Major challenges faced by the global bus and truck wiring harness market include rising raw material costs, intense competition, and technological advancements.
Key trends shaping the market include the adoption of lightweight materials, the integration of sensors and electronics, and the growing demand for customized wiring harnesses.
Government regulations, such as those related to safety and emissions, have a significant impact on the global bus and truck wiring harness market.
Opportunities for growth in the market include the increasing demand for electric vehicles, the adoption of advanced technologies, and the expansion of the aftermarket.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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