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.

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

• Charng Min Electronic Co., Ltd
• Hypermotive Wiring Systems
• Raffenday Ltd
• THN Corporation 
• Sinbon Electronics Co., ltd
• Hu Lane
• Cypress Industries
• Netcon Enterprises
• Fujikura Ltd
• Furukawa Electric Co., Ltd
• THB Group
• Yazaki Corporation

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

1. What is the average cost perSaudi Arabia EV Wiring Harness Marketright now and how will it change in the next 5-6 years?
2. Average cost to set up anEV Wiring Harness MarketinSaudi Arabia?
3. How manySaudi Arabia EV Wiring Harness Marketare 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 aSaudi Arabia EV Wiring Harness Marketand key vendor selection criteria
6. Where is theSaudi Arabia EV Wiring Harness Market manufactured? What is the average margin per equipment?
7. Market share ofSaudi Arabia EV Wiring Harness Marketmanufacturers and their upcoming products
8. The most important plannedSaudi Arabia EV Wiring Harness Marketin next 2 years
9. Details on network of majorSaudi Arabia EV Wiring Harness Marketand pricing plans
10. Cost advantage for OEMs who manufactureSaudi Arabia EV Wiring Harness Marketin-house
11. 5 key predictions for next 5 years inSaudi Arabia EV Wiring Harness Market
12. Average B-2-BSaudi Arabia EV Wiring Harness Marketprice in all segments
13. Latest trends inSaudi Arabia EV Wiring Harness Market, by every market segment
14. The market size (both volume and value) ofSaudi Arabia EV Wiring Harness Marketin 2024-2030 and every year in between?
15. Global production breakup ofSaudi Arabia EV Wiring Harness Market, by suppliers and their OEM relationship