Due to the increasingly severe global energy shortage and environmental pollution problems, countries around the world in order to ease the energy shortage, reduce the pressure of environmental pollution, began to vigorously develop the new energy vehicle market, the Chinese market is currently the largest incremental market for new energy vehicles, from Tesla to BYD, ideal, NiO, Xiaopeng and many other brands bloom. According to the passenger car sales data released by the Passenger Car Federation in May 2024, everyone is more concerned about the development of new energy vehicles, especially pure electric vehicles in the post-subsidy era (although the subsidies have not yet faded). The overall trend is undoubtedly good, so much so that in April and June, the Passenger Association twice raised the sales forecast of new energy vehicles this year: From 2 million to 2.2 million, and then to 2.4 million, according to the latest new car data released in the current market, the next few months, the new energy market at home and abroad will usher in a large number of new cars, especially more and more joint venture car companies began to enter the pure electric field. Bloomberg New Energy Finance's latest "New energy vehicle Market Long-term Outlook" report points out that by 2040, new energy vehicles are expected to account for 58% of global passenger vehicle sales and 31% of passenger vehicle ownership. In addition to passenger cars, the proportion of new energy vehicles in the number of buses will reach 67%, the proportion of two-wheeled motorcycles will reach 47%, and the proportion of light special vehicles will reach 24%.
As the country attaches great importance to the new energy vehicle market, the future proportion of China's new energy vehicle wiring harness market will be increased, which will further increase the demand for high-quality automotive wiring harnesses, thereby promoting the further development of the domestic automotive wiring harness market. Automotive wiring harnesses mainly include high-voltage wiring harnesses and high-voltage connectors as well as accessories attached to fixing and protection.
According to Bishop&Associates data show that at present, China's connector industry from 2017, has occupied nearly 30% of the global connector market market share, according to customs data, in 2020, China's connector manufacturing imports and exports of 4.739 billion US dollars, including exports of 3.592 billion US dollars, An increase of 14.78% year-on-year; The value of imports was US $1.147 billion, down 13.89% year-on-year; We achieved a trade surplus of 2.445 billion US dollars. From 2017 to 2020, the trade balance of China's connector manufacturing industry continues to expand, mainly because the electronics manufacturing industry continues to transfer to China, domestic large connector manufacturers have introduced sophisticated research and development, production equipment, set up a high-level research and development team, narrow the technological gap with international leading enterprises, competitive strength has been greatly strengthened, according to the calculation, 2025 is expected to reach 27 billion US dollars, the incremental part will be mainly contributed by new energy vehicles, is expected to reach 3.4 billion US dollars this year, by 2025 will be up to 11 billion US dollars, automotive wiring harness of high-voltage cables this year will also have 2.2 billion US dollars market size, by 2025 will also reach 7.3 billion US dollars.