Middle East & Africa Automotive Wiring Harness Market Size & Outlook
Middle East & Africa automotive wiring harness market, 2018-2030 (US$M)
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MEA automotive wiring harness market highlights
- The MEA automotive wiring harness market generated a revenue of USD 2,449.6 million in 2023.
- The market is expected to grow at a CAGR of 2.2% from 2024 to 2030.
- In terms of segment, terminals was the largest revenue generating component in 2023.
- Terminals is the most lucrative component segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 2,449.6 million |
| Market revenue in 2030 | USD 2,861.0 million |
| Growth rate | 2.2% (CAGR from 2023 to 2030) |
| Largest segment | Terminals |
| Fastest growing segment | Terminals |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric Wires, Connectors, Terminals |
| Key market players worldwide | THB Group, BorgWarner Inc, Furukawa Electric Co Ltd, Kromberg & Schubert Gmbh & Co. Kg Kabel-automobiltechnik, Lear Corporation, Lear Corp, Leoni AG ADR, PKC Group, Spark Minda, Sumitomo Electric Industries Ltd, Yazaki |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.9% of the global automotive wiring harness market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 30,601.4 million by 2030.
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Automotive Wiring Harness Market Scope
Automotive Wiring Harness Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa automotive wiring harness market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive wiring harness market will help companies and investors design strategic landscapes.
Terminals was the largest segment with a revenue share of 41.25% in 2023. Horizon Databook has segmented the Middle East & Africa automotive wiring harness market based on electric wires, connectors, terminals covering the revenue growth of each sub-segment from 2018 to 2030.
The region is expected to witness considerable growth over the forecast period owing to the rising establishment of manufacturing plants for light and heavy vehicles along with the assembly lines for manufacturing and remanufacturing of spare parts and accessories.
In 2017, the Ministry of Energy in the Middle East introduced an incentive program that encourages individuals to buy zero carbon-emission electric vehicles owing to the availability of green bank loans, attractive EV prices, and green insurance plans, among others.
Egypt is expected to foresee expansion plans that aim to boost the annual local production to 500,000 units by 2020 in order to match the imports. Global manufacturers have established manufacturing facilities in various African countries owing to cost-effective labor and rising adoption of e-mobility in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa automotive wiring harness market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa automotive wiring harness market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa automotive wiring harness market
Middle East & Africa Automotive Wiring Harness Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa automotive wiring harness market
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