Saudi Arabia EV Wiring Harness Market Size and Forecasts 2030

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    Published Date - October 2024 Number of Pages - 92  

    SAUDI ARABIA EV WIRING HARNESS MARKET

     

    KEY FINDINGS

    • The Saudi Arabia  EV Wiring Harness Market Will Grow From $1.85 Billion In 2024 To $229.22 Billion By 2030 at a CAGR of 123% from 2024-2030. ​
    • The wiring harness market is projected to grow substantially by 2030, with increasing local production capacity for EVs being a primary driver. Lucid Motors plans to expand its manufacturing capacity in Saudi Arabia by 150,000 units per year, which will contribute significantly to the demand for locally manufactured wiring harnesses.​
    • Over 432,800 EVs are expected on Saudi road increasing the use of EV Wiring Harness in both OEMs and also the aftermarket for repairs and replacements.​
    • Vision 2030 promotes the growth of the EV sector through investment incentives, tax breaks, and infrastructure development making manufacturing in Saudi Arabia lucrative​
    • Local EV manufacturing capacity, led by Lucid Motors, Ceer, and Hyundai, will drive demand for wiring harnesses.​
    • Partnerships with global suppliers and the development of local manufacturing capabilities for harness components, such as insulation and connectors, will ensure a self-sustaining supply chain.​
    • As Lucid Motors is the only manufacturer in Saudi Arabia, We Wire is the only EV Wiring Harness supplier which occupies the entire market share currently in OEMs​
    • While Ceer and Hyundai start their manufacturing by 2026, new companies and suppliers will target these opportunities to establish a relationship and supply chain in the country with OEMs​
    • Strategic partnerships between global companies and the Saudi government will increase the scalability of production and quality in Saudi Arabia, enabling an increase in manufacturing and different players being involved in the market​

     

    INTRODUCTION TO SAUDI ARABIA EV WIRING HARNESS MARKET

    Wire harnesses are incredibly adaptable components that can be used in almost every industry. For instance, they are essential to the efficient running of the aerospace, automotive, medical, telecommunication, and commercial building industries.

    Saudi Arabia EV Wiring Harness Market Size

     

    Home electronics, audio and visual gear, and household appliances all need wire harnesses.

     

    Traditional wiring harnesses have thick insulators and large copper cores, which make them incredibly heavy and unwieldy. Similar to other bulky items, printed circuit boards need strong bracketing for attachment and stability.

     

    Chipmakers and OEMs are therefore investigating alternate substrate materials, various forms of sensor fusion, and fresh approaches to wire minimization.

     

    SAUDI ARABIA  EV WIRING HARNESS MARKET SIZE AND FORECAST

     

    The Saudi Arabia EV Wiring Harness Market accounted for $1.8 Billion in 2024 and is anticipated to reach $230 Billion by 2030, registering a CAGR of 12.3% from 2024 to 2030.

     

    SAUDI ARABIA EV WIRING HARNESS MARKET DYNAMICS

    The King Abdullah Economic City in Saudi Arabia will house Lucid’s next production plant, and the Saudi Arabian government is doing all in its power to speed up the process by promising the EV maker some sweet loans and incentives.

     

    The facility will be dubbed as AMP-2 to denote its position as the following development in Lucid’s international growth. Lucid is honoured to contribute so significantly to Saudi Arabia’s efforts to diversify its economy and move toward sustainability.

     

    All new East BST, BST II, MMX, and narrow-neck flatbed trailers will come standard with the Truck-Lite 99 Series wiring harness, according to the trailer manufacturer East Manufacturing Corp.

     

    A moulded plug with two sealing surfaces, as opposed to one, has been included into the Truck-Lite 99 Series to create a closed system. The redesigned two-seal plug prevents corrosion by keeping moisture and debris out of the plug.

     

    COMPANY PROFILES

     

    THIS SAUDI ARABIA EV WIRING HARNESS MARKET REPORT WILL ANSWER THE FOLLOWING QUESTIONS

    1. What is the average cost per Saudi Arabia EV Wiring Harness Market right now and how will it change in the next 5-6 years?
    2. Average cost to set up an EV Wiring Harness Market in Saudi Arabia ?
    3. How many Saudi Arabia EV Wiring Harness Market are manufactured per annum globally? Who are the sub-component suppliers in different regions?
    4. What is happening in the overall public, globally?
    5. Cost breakup of a Saudi Arabia EV Wiring Harness Market and key vendor selection criteria
    6. Where is the Saudi Arabia EV Wiring Harness Market  manufactured? What is the average margin per equipment?
    7. Market share of Saudi Arabia EV Wiring Harness Market manufacturers and their upcoming products
    8. The most important planned Saudi Arabia EV Wiring Harness Market in next 2 years
    9. Details on network of major Saudi Arabia EV Wiring Harness Market and pricing plans
    10. Cost advantage for OEMs who manufacture Saudi Arabia EV Wiring Harness Market in-house
    11. 5 key predictions for next 5 years in Saudi Arabia EV Wiring Harness Market
    12. Average B-2-B Saudi Arabia EV Wiring Harness Market price in all segments
    13. Latest trends in Saudi Arabia EV Wiring Harness Market, by every market segment
    14. The market size (both volume and value) of Saudi Arabia EV Wiring Harness Market in 2024-2030 and every year in between?
    15. Global production breakup of Saudi Arabia EV Wiring Harness Market, by suppliers and their OEM relationship
    Sl. No​​ Topic​​
    1​​ Market Segmentation​​
    2​​ Research Methodology​​
    3​​ Executive summary​​
    4​​ Key Predictions of Saudi Arabia EV Wiring Harness Market​
    5​​ Average B-2-B Prices in Saudi Arabia EV Wiring Harness Market​
    6​​ Major Drivers of Saudi Arabia EV Wiring Harness Market​
    7​​ Technology Developments in EV Wiring Harness Market​
    8​​ New Product Development In EV Wiring Harness Market​
    9​​ Research focus areas in EV Wiring Harness Market​
    10​​ Key Trends in Saudi Arabia EV Wiring Harness Market​
    11​​ Role of Public-Private Partnerships in Manufacturing Growth​
    12​​ Government incentives and policies for using EV Vehicles in Saudi Arabia and Impact on EV Wiring Harness Market​
    13​​ Upcoming EV manufacturing plants and Investments in EV Infrastructure in Saudi Arabia​
    14​​ Growing EV Adoption in Saudi Arabia and its Impact on market​
    15​​ Cost Breakdown of EV Wiring Harness​
    16​​ Export potential and planned automotive exports​
    17​​ Manufacturing capacity of OEMs in Saudi Arabia by 2030​
    18​​ Electric Vehicles on road in Saudi Arabia by 2030​
    19​​ Supply Chain Analysis in Saudi Arabia EV Market​
    20​​ Scope of Manufacturing of EV's Wiring Harness in Saudi Arabia ​
    21​​ Comparative Analysis of Raw Material Suppliers for EV Wiring Harness Market​
    22​​ Market Size, Dynamics and Forecast by Material, 2024-2030​
    23​​ Market Size, Dynamics and Forecast by Voltage, 2024-2030​
    24​​ Market Size, Dynamics and Forecast by End User, 2024-2030​
    25​​ Market share of Major Vendors-2023​​
    26​​ M&A activity in Past 5 years​​
    27​​ Growth Strategies of Major Companies​
    28​​ Company Profiles​​
    29​​ Conclusion​
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