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Shangpu Consulting: Overall Development and Trend Analysis of Wire Harness Industry Market in 2023

2024-07-18 09:52:52 Source: Champ Consulting Visits:0

The wiring harness industry is an important part of the automotive electrical system. It is mainly composed of wires, terminals, connectors and sheaths. It connects the central control components with the automotive control unit, electronic and electrical execution units, and electrical devices to form the automotive electronic control system. The wiring harness industry is the carrier of automobile energy and various signal transportation, and is the blood vessel and nervous system of the automobile.

1. market background

2023With the support of national policies, the improvement of consumer demand and the enhancement of product power of automobile enterprises, the production and sales volume and penetration rate of new energy vehicles have reached a record high. According to data from the Champ Consulting Group, 2023China's new energy vehicle market completed a total of 260 in the first halfRetail sales of 10,000, up 120 percent year-on-year. As of 2023Year 6At the end of the month, the newEnergy Vehicle Ownership Reach 100110,000 vehicles, of which the number of pure electric vehicles is 810.4.Ten thousand vehicles, accounting for 81% of the total number of new energy vehicles. In terms of penetration rate, China's new energy vehicles from 20207% of the yearRise to 2023Year 726.7 percent of the monthIt accounts for more than 1/4 of the car market.。

The rapid growth of new energy vehicles has brought huge demand for the wiring harness industry. Because of new energyThe structural characteristics of the car use the battery as the main energy source, so there is a demand for more high-voltage wiring harnesses. As the main carrier of power output on electric vehicles, high-voltage wiring harness is one of the key components for vehicle performance and safety. The high-voltage wiring harness is mainly used to provide high-voltage and high-voltage power supply for new energy vehicles. It is a high-safety part in new energy vehicles and has a large voltage/Compared with the traditional low-voltage use in the car, the characteristics of large current and large number of wires。

2. market size

According to data from Shangpu Consulting Group, the scale of China's new energy vehicle market has increased from 2017Year to 2021Year by year, 2021China's new energy vehicle market size was 6.0100 billion yuan, up 76.5 percent year-on-year，2022In, China's new energy vehicle market maintained rapid growth, with a scale of more than 10trillion yuan. To 2023At the end of the year, with the implementation of the new energy vehicle industry development plan, China's new energy vehiclesThe market will further expand, the scale or more than 15trillion yuan.The scale of China's new energy vehicle market will always show a rapid upward trend.。

With the replacement of traditional vehicles by new energy vehicles, the traditional vehicle wiring harness market will gradually decrease in the future, while the new energy vehicle wiring harness market will be 30%.The above compound annual growth rate is growing at a high rate. According to data from the Champ Consulting Group, 2022China's automotive wiring harness market size of 623.5Billion yuan, of which the traditional car wiring harness market size of 589.5Billion yuan, new energy automotive wiring harness market size of 34Billions of dollars. Expected to 2025In 2012, the traditional vehicle wiring harness market and the new energy vehicle wiring harness market were 947.Billions of dollars and 367Billions of dollars。

3. cost split

From the cost split point of view, the wiring harness required labor costs are higher. The wiring harness needs to be designed differently according to different models and different parts of the car, so more manpower is required to bundle the wiring harness. Therefore, the operating cost of the wire harness, labor costs accounted for a higher proportion of the cable industry,According to the 2022 ofAnnual Report The direct labor cost of the harness is 12.76 per cent.Slightly below 2021.13.43 percent of the year. According to the 2023 of Shanghai Guang shares.Semi-annual report The direct labor cost of the harness is 11.85 per cent.continues to decline. This may be related to the increased level of automation in the wire harness industry. And according to Syngenta's 2022Annual ReportThe percentage of direct labor costs for cables is1.67%, higher2021of the year1.43%. This may be related to the labor market supply and demand in the cable industry.

In terms of the proportion of raw material costs, the main raw materials for wire harnesses are wires, sheaths and terminals, with copper accounting for the highest proportion of wires. According to the data in the prospectus of Shanghai Guang shares, the proportion of wires, sheaths and terminals in wire harness raw materials is 32.54.、20.53%and 19.90 percent. The main raw materials in the conductors are copper rods and copper wires, which account for 77.95 percent of the conductors, respectively, according to the data in the Carbillion prospectus.and 12.59 percent。

4. industry chain

The relationship between the upstream and downstream of the industrial chain of the wire harness industry is relatively simple: midstream cable manufacturers purchase copper and other metals for wire drawing, cable and other processes to make cables, downstream harness manufacturers will be connectors and cables crimping, bundling, etc., to form a wire harness. Downstream wiring harness industry concentration is high, domestic substitution space is large. Automobile manufacturers, especially global automobile brands, usually implement high standards and strict requirements of supplier management.The supplier system is more closed. A small number of foreign capital and joint venture automotive wiring harness enterprises have occupied the vast majority of the market share for a long time, forming a situation of oligopoly competition in the automotive wiring harness industry. 2022Wire Harness Industry CR3is 66.8 percent，CR5is 77.5 percent, higher concentration. With the rise of domestic independent brands, domestic host plants gradually switch suppliers to local brands, the harness industry's domestic substitution space is larger.

Cables belong to automotive safety parts, qualification barriers are high. As a result, the vehicle factory is more stringent in the procurement of automotive cables, forming a more closed supply system. At present, there are two main types of automotive cable manufacturers: the first category is the cable manufacturer of the wiring harness company; the second category is an independent company specializing in the production of cables. At present, Japanese wiring harness manufacturers such as Yazaki, Daidian, Guhe, etc., and European and American wiring harness manufacturers such as Anbofu, Lenny, etc. are "self-produced."Outsourcing "model; U.S. wiring harness manufacturer Lear, German wiring harness manufacturer Decosmere, domesticWiring harness manufacturers Shanghai Light, Jinting, etc. are outsourcing mode。

5. development trend

With the complexity of automotive electrical architecture, the use of single-vehicle wiring harness is growing rapidly. In the past 40 years, the automotive electronic technology has exploded, and the use of automotive wiring harness bicycles has increased rapidly.20 Century 50 In the 1990 s, cars such as the Chevrolet Bel-El had very few electrical components and relied on the most basic ring terminal connections;70 In the 1990 s, automobiles began to introduce electronic components, and emission requirements and electronic modules also appeared, and wiring harnesses began to put forward professional requirements for electrical systems;2000~2010 In 2010, automotive electronics technology is increasing day by day, consumer electronics products integrated to increase the amount of wiring harness, automotive wiring harness bicycle usage from 2000 of the year 1.5 Kilometers increased 2010 of the year3kilometers;2010 After the year, the automotive electrical architecture into the intelligent, networked, electric era, harness bicycle usage will continue to grow, is expected. 2025 In the year, the amount of harness bicycles will reach 4.5 Kilometers.

High-voltage wiring harnesses for new energy vehicles are in high demand and technically difficult. The high-voltage wiring harness of new energy vehicles mainly includes the connection wiring harness between the power battery pack and the motor and the electric controller, the connection wiring harness between the charging interface and the power battery pack, and the connection wiring harness inside the power battery pack. The technical difficulty of high-voltage wiring harnesses is an order of magnitude higher than that of low-voltage wiring harnesses, and needs to meet higher safety, reliability and durability requirements. The design and manufacture of high-voltage wiring harnesses need to consider many factors, such as electrical properties, mechanical properties, thermal stability, corrosion resistance, aging resistance, waterproof and dustproof.

Domestic wire harness enterprises are accelerating to catch up with the international advanced level and enhance the ability of independent innovation. At present, there is still a certain gap in the technical level, product quality and brand influence of domestic wire harness enterprises. However, with the rise of domestic independent brand cars and the promotion of domestic substitution, domestic wire harness enterprises are accelerating to catch up with the international advanced level and enhance the ability of independent innovation. On the one hand, domestic wire harness enterprises through cooperation with international well-known enterprises or acquisition, the introduction of advanced technology and management experience, improve product quality and market competitiveness. For example, Huguang Co., Ltd. cooperated with Japan's Furukawa Electric to produce high-voltage wire harnesses and acquired Decosmir Automotive Systems Co., Ltd (DAS), becomes its wholly-owned subsidiary. On the other hand, domestic wire harness enterprises by increasing investment in research and development, the development of new products in line with market demand and technology trends, enhance the ability of independent innovation. For example, Kintin shares in2021A new type of high-voltage wire harness connector was developed in, which has anti-misplugging function and waterproof function, and obtained a national invention patent.

6. Summary

according to champ consulting,2023The year was the year of the outbreak of China's new energy vehicle market, which brought huge demand for the wiring harness industry. The wiring harness industry is an important part of the automotive electrical system, which is the blood vessel and nervous system of the car. With the complexity of automotive electrical architecture, the use of single-vehicle wiring harness is growing rapidly. High-voltage wiring harnesses for new energy vehicles are in high demand and technically difficult. Domestic wire harness enterprises are accelerating to catch up with the international advanced level and enhance the ability of independent innovation. In the future, the wire harness industry will face both opportunities and challenges.

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