Construction Machinery Wiring Harness Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Construction Machinery Wiring Harness Market Analysis
The construction machinery wiring harness market is expected to exhibit a growth rate of more than 5% during the forecast period 2020-2025.
The rise in global construction activities is a major driver of growth for the construction machinery wiring harness market. Spending on infrastructure development is seen in both developed and developing nations. Emerging economies are speeding up their residential and transportation infrastructure development which is leading to the growth in sales of construction machinery.
The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressurizing construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones. This factor is driving the market growth for construction machinery wiring harness.
The construction machinery telematics market is experiencing positive growth owing to the need for increasing efficiency, fleet management and theft management.
Construction Machinery Wiring Harness Market Trends
This section covers the major market trends shaping the Construction Machinery Wiring Harness Market according to our research experts:
Electrification of Construction Equipment
An increase in construction activities across the globe has resulted in increased consumption of diesel. Although diesel has high energy content compared to gasoline its combustion releases dangerous exhausts into the environment. Governments and pollution regulatory bodies across the globe have established norms and regulations that require diesel engines to produce almost negligible NOx and SOx emissions. This has opened the doors for OEMs to switch to hybrid and completely electric vehicles in the future. Electric construction equipment is not only zero-emission machines but also produces very less heat, noise, and vibrations.
Electric construction equipments use fewer parts compared to diesel equipment and use of electricity brings down the total cost of operations both for rental company and customer. Many key construction equipment manufacturers across the globe have launched their electric construction equipments. Pon Equipments and Caterpillar have jointly created a 323F electric excavator that has an operational time of 7 hours in a single battery charge. A 1000-volt charge can fully charge 323F in just 90 minutes.
Telematics in a construction machinery assists in numerous ways such as CO2 emission tracking, geofencing and path tracking that assists driver to stick to pre-determined routes and paths for maximum efficiency, telematics mapping and providing report on the condition of equipment for timely service and maintenance of equipment. OEMs are now providing telematics in small construction machinery as well. The growth in construction machinery telematics market is expected to drive the demand for construction machinery wiring harness.
Asia-Pacific is expected to dominate the Global Market
Asia Pacific countries exhibit the fastest economic growth rates in the entire world. The Asia-Pacific region is expected to be a major market propelling the global construction industry, with augmenting construction activities in countries, such as India, China, and ASEAN countries.
India is investing a huge amount of money in its ambitious smart city project and development of Special Economic Zones and National Investment and Manufacturing zones. India is also investing in setting up renewable energy generation centers like windmill farms and solar parks. This will surely give a boost to the growth and development of the construction industry. India's ambitious programs such as make in India are creating an environment for domestic component manufacturers to ramp up the production and export. This factor is expected to drive the market growth in India.
Ongoing mega projects in China needs a lot of machinery and materials to be displaced from one part of the country to the other. Projects like Tianhuangping hydroelectric project, South North water transfer project, and Beijing airport are some of the many projects that will deploy a large number of construction equipment and thus, it will drive the market growth for construction machinery wiring harness.
Construction Machinery Wiring Harness Industry Overview
The construction machinery wiring harness market is a fragmented market with key players such as Leoni, Furukawa Electric, Motherson Sumi operating the market.
TE Connectivity and Digi-Key collaborated and produced ENTRELEC SNK terminal block assembly solution that offers multiple connect options and provides a 90% reduction in mounting time.
Construction Machinery Wiring Harness Market Leaders
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Furukawa Electric Co. ltd.
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Leoni AG
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Motherson Sumi Systems Limited
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AME Systems Proprietary Limited
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Electronic Technologies International, Inc.
*Disclaimer: Major Players sorted in no particular order
Construction Machinery Wiring Harness Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Wire Type
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5.1.1 Copper
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5.1.2 Aluminum
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5.2 Components
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5.2.1 Wires
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5.2.2 Terminals
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5.2.3 Relays
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5.2.4 Fuses
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5.2.5 Connectors
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5.2.6 Others
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5.3 Application
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5.3.1 Powertrain
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5.3.2 Comfort and Convenience
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5.3.3 Safety and Security
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5.3.4 Body Wiring
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5.3.5 Others
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5.4 Geography
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5.4.1 North America
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5.4.1.1 US
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5.4.1.2 Canada
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 UK
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5.4.2.3 France
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5.4.2.4 Rest of Europe
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5.4.3 Asia Pacific
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5.4.3.1 India
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5.4.3.2 China
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5.4.3.3 Japan
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5.4.3.4 Rest of Asia Pacific
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5.4.4 Rest of the World
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5.4.4.1 Brazil
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5.4.4.2 UAE
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5.4.4.3 Other Countries
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles*
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6.2.1 Furukawa Electric Co., ltd.
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6.2.2 Leoni AG
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6.2.3 Sumitomo Wiring Systems Limited
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6.2.4 Motherson Sumi Systems Limited
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6.2.5 AME Systems Proprietary Limited
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6.2.6 Electronic Technologies International, Inc.
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6.2.7 Amphenol-CTI Industries Inc.
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6.2.8 Cesar Scott Inc.
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6.2.9 KRA International (Patrick Industries, Inc.)
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6.2.10 LeeMAH Electronics Inc.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Construction Machinery Wiring Harness Industry Segmentation
The construction machinery wiring harness market covers the latest trends and technological development in the construction machinery wiring harness market, demand for wire type, application type, components, geography and market share of major construction machinery wiring harness producing companies across the world.
| Wire Type | |
| Copper | |
| Aluminum |
| Components | |
| Wires | |
| Terminals | |
| Relays | |
| Fuses | |
| Connectors | |
| Others |
| Application | |
| Powertrain | |
| Comfort and Convenience | |
| Safety and Security | |
| Body Wiring | |
| Others |
| Geography | ||||||
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Construction Machinery Wiring Harness Market Research FAQs
What is the current Construction Machinery Wiring Harness Market size?
The Construction Machinery Wiring Harness Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Construction Machinery Wiring Harness Market?
Furukawa Electric Co. ltd., Leoni AG, Motherson Sumi Systems Limited, AME Systems Proprietary Limited and Electronic Technologies International, Inc. are the major companies operating in the Construction Machinery Wiring Harness Market.
Which is the fastest growing region in Construction Machinery Wiring Harness Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Construction Machinery Wiring Harness Market?
In 2024, the Asia Pacific accounts for the largest market share in Construction Machinery Wiring Harness Market.
What years does this Construction Machinery Wiring Harness Market cover?
The report covers the Construction Machinery Wiring Harness Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Construction Machinery Wiring Harness Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Heavy Equipment Wiring Harness Industry Report
Statistics for the 2024 Heavy Equipment Wiring Harness market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Heavy Equipment Wiring Harness analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
