From 2012 to 2017, China's automobile output has been on the rise. After 2012, China's automobile output has enteredthe stage of fluctuating growth from high-speed growth, and the automobile manufacturing industry has entered the stage of structural upgrading and sustainable development. In 2017, China's automobile output was 29,015,400 units, up 3.19 percent year-on-year, reaching the highest level in recent years. In 2018, influenced by various factors at home and abroad, China's automobile output showed negative growth for the first time in the past 28 years, with a total automobile output of 27.809 million, down 4.2 percent year-on-year. If it is calculated that 65 sets of wiring harnesses are required for each vehicle, the demand for wiring harnesses of vehicles produced in 2018 is about 6216.25 million sets (excluding those needed for maintenance of new and used cars), which is 1.71% lower than that of the previous year.
In 2017, the market size of vehicle wiring harness in China has exceeded 100 billion yuan, including 98.8 billion yuan for traditional vehicle wiring harness market and 4 billion yuan for new energy vehicle wiring harness market. With the replacement of new energy vehicles to traditional vehicles, the traditional vehicle wiring harness market will gradually decrease in the future, while the new energy vehicle wiring harness market will grow at a high speed with a compound annual growth rate of more than 30%. It is estimated that by 2025, the traditional vehicle wiring harness market and the new energy vehicle wiring harness market will be 94.7 billion yuan and 36.7 billion yuan respectively.