According to a new report from Future Market Insights (FMI), the value of the global wire harness tape market is likely to increase from US $249.1 million in 2023 to US $417.4 million by the end of 2033.

It is expected to grow at a compound annual growth rate of 5.3% over the above time frame.

Wire harness tape supports many industries.

Cable is often exposed to high temperatures in the engine compartment and exhaust system.

Therefore, many manufacturers choose expensive heat-resistant insulation materials to protect these cables.

Use tape to reduce the temperature in these cable harnesses by up to 60%.

This precise thermal control system is especially suitable for short components subjected to thermal stress.

In the affected wire harness, the same thing can be done without higher temperature-resistant insulation, thereby reducing costs.

The manufacturer also provides heat-resistant tape to successfully bind the cable harness in narrow installation locations with little airflow.

Overall, the thermal control capability of wire harness tape will drive market demand.

Main points of the wire harness tape market report:

① Based on materials, the plastic wire harness portion is expected to increase by 1.5 times its current market value between 2023 and 2033.

② During the forecast period from 2023 to 2033, the market value of rubber adhesives by adhesive type will increase by 1.6 times.

③ In terms of applications, the power cable sector is expected to grow at a CAGR of 5.6% between 2023 and 2033.

④ Sales of wire harness tapes in India are expected to grow at a compound annual growth rate of 6.0% from 2023 to 2033.

⑤ During the evaluation period, the Chinese wire harness tape market is expected to generate about 63% of the market in eastern Asia.

“The increased demand for bundled solutions that can withstand extreme temperatures and environmental conditions in the automotive and other industries will boost sales of wire harness tapes. In addition, the wire harness tape has good wear resistance, moisture resistance and corrosion resistance and will be popular in a variety of end-use industries. “Said one FMI analyst.

The expansion of the automotive sector has created new growth opportunities for wire harness tape manufacturers.

Wire harness tape is used for automobile interior and engine compartment.

The automotive industry uses wiring harness tape to ensure the protection and best wire harness of engine cabins and car interiors.

Because of the excellent flexibility of the wire harness tape, the wire harness can be easily and quickly applied to any part of the body.

The steel wire tape used in the engine compartment needs to be highly wear-resistant, while the tape used in the car interior needs to reduce noise and vibration.

These factors can be ensured by using wire harness tape.

The increase in production of cars and required parts will boost demand for wire harness tape.

According to OICA, about 80 million motor vehicles were produced worldwide in 2021.

This indicates that the demand for wire harness tape in the automotive industry is expected to grow.