Automotive Wires & Cables Market Analysis | 2025-2030

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in Automotive Wires and Cables Market 

• The annual demand for automotive wires and cables was USD 14.5 billion in 2024 and is expected to reach USD 15.6 billion in 2025, up 7.6% than the value in 2024.
• During the forecast period (2025-2030), the automotive wires and cables market is expected to grow at a CAGR of 5.0%. The annual demand will reach USD 19.8 billion in 2030.
• During 2025-2030, the automotive wires and cables industry is expected to generate a cumulative sales opportunity of USD 107.5 billion, which is almost 1.5 times the opportunities during 2019-2024.

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High-Growth Market Segments: 

• Asia-Pacific generated the highest demand with the largest market share of more than 55% in 2024, whereas North America is expected to be the fastest-growing region in this market.
• By vehicle type, Light vehicles are the largest demand generator of wires & cables and are also expected to grow faster.
• By voltage type, Low-voltage is estimated to be the most dominant, whereas high-voltage is the most rapidly expanding market.
• By product type, Copper core cables are the dominant product, but aluminium core cables are growing at the fastest rate.
• By propulsion type, EV is estimated to record exceptional growth in the coming years.

Market Statistics 

Have a look at the sales opportunities presented by the automotive wires and cables market in terms of growth and market forecast.

Market Dynamics

Introduction:

Automotive wires & cables make up wiring harness assemblies for a broad spectrum of vehicles, starting from passenger and high-performance automobiles to racing cars. Their application includes light, medium, and heavy-duty trucks, industrial transport vehicles, buses, agricultural machinery, recreational vehicles, and off-road vehicles.

This market is global because its demand originates from the highest requirements placed by large OEMs worldwide, such as General Motors, Ford, Honda, Volkswagen, BMW, Hyundai, Renault, Daimler, and Toyota. These big conglomerates populate the market, which is characterized by oligopolistic structures and an extensive global network. All these major companies create huge demand for wires & cables for their electrical systems within vehicles, such as power distribution, data transmission, and signal communication.

Market Drivers: 

The automotive wires & cables market is projected to grow vigorously owing to the following reasons:

• The continuous rise in population with strong purchasing power for automobiles, particularly in Asia-Pacific and the Rest of the World (RoW), is significantly influencing automotive wires & cables manufacturing.
• Increased adoption of advanced automotive technologies such as EVs, autonomous driving systems, and infotainment systems requires sophisticated cable solutions.
• Changing consumer preferences for high-tech, feature-rich vehicles drives the need for advanced wiring & cable solutions to support new technologies. The need for replacement parts and aftermarket upgrades for existing vehicles also contributes to the demand for automotive wires & cables.
• Modern thin wires & cables, designed with reduced diameter and smaller cross-sectional size, significantly enhance manageability during installation. It also allows for greater ease in manual handling, streamlining the process of moving and positioning cables.
• The future of automotive technology hinges on connectivity and autonomy, which involve numerous sensors and cameras generating vast amounts of data. As traditional wires approach their data transmission limits, specialized wires emerge as the optimal solution.

Market Challenges: 

• The fast-changing nature of the technologies in the automotive business enforces continuous innovation in the wiring solutions for vehicles. These solutions need to adhere to strict industry standards and ensure application compatibility with various models of vehicles.
• The introduction of advanced materials and manufacturing processes may increase production time and cost; moreover, supply chain disruption can affect availability and pricing. 

Segments Analysis

By Vehicle Type

“Light vehicles are likely to be the biggest and the most rapidly rising vehicle during the time of this prediction.”

• The growth in demand from the automotive world for advanced connectivity, infotainment systems, and telematics will see automotive wires & cables surge rapidly in the market within the forecast period.
• The growing use of electrical systems and components in light vehicles demands advanced automotive cables. Light vehicle applications demand durable and efficiently performing cables.
• Light vehicles have a more pronounced demand for electronic features like ADAS, cruise control, regenerative braking, lane departure warning, etc.

By Voltage Type

“While the low-voltage cable is expected to be foreseen as the most dominant, high-voltage cable is expected to be the most rapidly expanding market where voltage type cable is concerned.”

• Low-voltage wires & cables with 8V to 12V that are very useful for car lighting, entertainment, safety, power accessories, climate control, and many other applications in use in today's vehicles.
• Low-voltage systems are essential to so many of the important functions in today's modern vehicles.
• High-voltage wires represent a growth factor in the future of the automotive industry. The more electrification and features are put into vehicles, the more robust and efficient high-voltage wiring systems will be required.

By Product Type

“Aluminum core is anticipated to demonstrate the most rapid growth during the forecast period driven by low cost and easy installation.”

• Aluminum core cables are lightweight; hence, cheap compared to copper core cables. They resist corrosion and are flexible, hence, their installation is easy.
• Aluminum is highly recyclable and, therefore, more eco-friendly than other materials. It can also work excellently under high-voltage applications, like those found in EVs supporting the latest automotive technologies.
• Though copper is still the best material considering its various advantages, thus, with the growing demand for high-voltage wires & cables, the requirement for copper core wires will also increase.

Regional Analysis

“Asia-Pacific is the most dominant region in the automotive wires & cables market. North America is forecasted to exhibit the most accelerated expansion during the mentioned period.”

• It is further expected that Asia-Pacific will continue to lead in electric vehicle penetration, a huge number of global wires & cables manufacturing plants, and China as a major vehicle manufacturing country with hundreds of associated OEM plants.
• North America, particularly the USA, has one of the biggest and most solid industries for automobiles, representing many leading automobile manufacturers and suppliers that bring demand for wires & cables used in the automotive industry.
• Within the region are the most advanced R&D and manufacturing facilities in the world, backed by a solid supply chain and a first-class modern logistics facility. It is the large demand for EVs, coupled with a skilled pool of human resources, that largely contributes towards accelerated growth within this region.

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Competitive Landscape

It would be fair to say that the market is moderately consolidated with several players contributing significantly to the market. The leading players in the industry contend with several critical factors including pricing strategies, service portfolios, regional presence, and other governing parameters. The following are the key players in the Automotive Wires & Cables Market. These big players often engage in mergers and acquisition activities as a key strategy to enhance their portfolios and regional presence.

Here is the list of the Top Players (Based on Dominance)

• Coficab Group (Tunisia)
• Beijing Force Group (China)
• Leoni AG (Germany)
• Prysmian Group (Italy)
• Helukabel (Germany)
• Xinhongye Wires & cables (China)
• Southwire Company LLC (USA)
• Gebauer & Griller (Austria)
• Condumex Inc (USA)
• Sumitomo Electric Industries Ltd. (Japan)

Note: The above list does not necessarily include all the top players in the market.

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Recent Market JVs and Acquisitions:

The automotive wires & cables market has undergone a few mergers and acquisitions in recent years as enterprises strive to augment their market presence and leverage synergies to refine their product offerings and optimize their fiscal outcomes. Some M&A and JVs are:

• In 2024, Prysmian Group announced that it had reached an agreement to acquire Encore Wire, as part of a leading global player in the energy and telecom cable systems business to enhance its North American footprint and further develop its market position in the automotive sector.
• In 2019, Leoni AG announced a strategic partnership with the French automotive supplier, Valeo SA, in the development and manufacturing of complex high-voltage wiring systems for e-vehicles and hybrids.

Recent Product Development:

• In 2024, a new cable was introduced by Leoni AG – LIMEVERSE. What makes LIMEVERSE outstanding is its special insulation material, developed by the engineers of Leoni. This material increasingly utilizes bio-based materials made from sustainable or regenerative resources instead of crude oil. The result is that the CO₂ footprint will be decreased by 50%.
• In 2022, Southwire launched an innovation: the LC3 liquid-cooled charging cable. This technology handles the heat that is built up during the process of fast EV charging to enable higher current flow.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation 

This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive wires and cables market is segmented into the following categories:

Automotive Wires and Cables ?Market, by Vehicle Type

• Light Vehicles
• Commercial Vehicles

Automotive Wires and Cables ?Market, by Voltage Type

• Low-Voltage
• High-Voltage

Automotive Wires and Cables ?Market, by Product Type

• Copper Core
• Aluminium Core
• Others

Automotive Wires and Cables ?Market, by Propulsion Type

• ICE
• EV

Automotive Wires and Cables ?Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Australia, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Africa, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s automotive wires & cables market realities and future market possibilities for the forecast period. 
• The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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