Esteemed global analysts Technavio are predicting strong growth in the international automotive wiring harness market thanks in a large part to higher electric vehicle penetration and increasing demand for more advanced electronics in cars.
The report predicts steady market sector growth for the next four years and an overall CAGR of about six per cent by 2020.
As a trusted partner of some of the largest cable harness manufacturers in Britain, Hilltop Products welcomes the news and looks forward to helping drive growth.
Electric vehicles driving growth
The report is clear about where the market sector growth is coming from. Jumping fuel prices and the constant pressure to reduce carbon emissions are accelerating the world’s demand for electric vehicles.
At the same time, as the on-board experience of driving gets more and more advanced – with parking sensors, driver assists, seat heaters and (sometime soon) self-driving capabilities – the on-board electronics have become more advanced too.
Commenting on the growth of the vehicle electronics sector, Technavio’s lead analyst said: “The increase in adoption of electric vehicles has prompted original equipment manufacturers to invest in R&D to bridge the gap between internal combustion engines and vehicles run on electric energy. This will lead to an increased application of connectors and wiring harnesses in the automotive industry.”
More electronics in cars and commercial vehicles means more wiring harness systems will be required to hold them. And with more electronics to hold, manufacturers are increasingly looking for compact and lightweight harnesses to occupy less space and connect every component.
Britain has proved central to electric vehicle development and it seems likely that British producers will benefit in the future.
A large proportion of Brits drive electric vehicles compared with the rest of the world. The Chief Executive of Jaguar Land Rover also recently signalled his desire to design and build the company’s electric cars in the UK.
The vehicle wire harness market has also received a boost from increased demand for more advanced electronics in cars and commercial vehicles.
Advanced settings and safety systems like advanced driver assistance systems (ADAS), on-board diagnostics equipment to monitor emissions and other electronic components all need hard wiring in to the skeleton of a vehicle.
More advanced technology will also lead to the development of tougher harnesses that are capable of handling 48V. This will require better shielding against electromagnetic interference and more advanced safety systems.
The specialist nature of these requirements and this work will mean that more of the work should be outsourced to independent experts.
Europe to be a hotbed of harness growth
Technavio predict that Europe will be a key geographic region for the automotive wiring harness market. The report highlights Europe as a major hub of the vehicle manufacturing industry.
In countries like the UK, Germany and France the report says: “The introduction of stringent carbon emission norms that drive the demand for next-generation automotive connectors and the demand for advance driving systems such as collision warning and collision control systems, will drive the demand for wiring harness in this region.”
Trust Hilltop to hold up your harness manufacturing
Hilltop Products has built up close relationships with some of the nation’s biggest harness wiring manufacturers. We have worked with vehicle manufacturers and independent harness makers, supplying some of the highest quality fixings, fastenings and materials.
Our stock holding policy, which allows select customers to store purchased stock for up to 16 months, plus our reliable delivery service makes it easier for harness makers to buy in bulk and benefit from additional discounts.
Hilltop Products keeps large quantities of products at all times. This includes lots of branded products that match harness specifications. Our TE Connectivity – Tyco and Raychem heat shrink products are popular with harness partners because they are tough enough to withstand difficult environments.
If you have any further questions about Hilltop Products range or you would like to enquire about additional benefits and discounts available to account holders, then please contact the sales team. Call: 01942 723 101.