Press release
Railway Wiring Harness Market Expected To Grow At A CAGR Of 8.27% By 2026| Furukawa, Leoni, Hitachi, Nexans, Prysmian, TE Connectivity, Samvardhana Motherson, General Cable, Taihan, NKT, Huber-Suhner, Ls Cables & Systems
Railway Wiring Harness Market 2020
The Global Railway Wiring Harness Market is expected to grow at a CAGR of 8.27% during the forecasting period (2019-2026). Wiring harnesses are the connecting wires and other accessories that are used in automotive industry including Railways for wiring in lighting, HVAC, communication systems and other.
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Some of the standards for wiring harness in railways such as IRIS, ISO 9001, ISO/TS 16949:2002 that focuses on quality management and ISO 14001 certificates for environment management system. This will help in producing high-quality rail cable harnesses and electromechanical modules.
The increase in railway projects in the forecast period will boost the railway wiring harness market in the coming years.
For instance, Dubai plans to undertake a five-stage extension of the Dubai Metro Red Line by 2020. The project cost is estimated to be around USD 2.9 billion. However, issues related to the environment can restrain the market growth.
Market Drivers:
The global Railway wiring harness Market growth is due to the increasing adoption of electronic technology and increasing advanced railway projects across the globe.
The increasing government investments in rail infrastructure and equipment is driving the global railway wiring harness market.
For instance, The Chinese government has planned to expand infrastructure spending by USD 10 billion from the initial budget for 2018 by expanding existing projects, including the planned railway line linking Sichuan Province and the Tibet Autonomous Region.
The rapid growth of the high-speed train network can be a major factor to boost the growth of global railway wiring harness market.
Market Restraints:
The heavy duty transportation for wiring harness depends upon the material and design if not imposed properly may lead to failure during usage and occurs huge repair cost. This can hamper the growth of global Railway wiring harness market.
Market Segmentation
By Material Type
The global Railway wiring harness market is segmented by material type which include aluminum, copper and others. Aluminum has the major market due to its light weight coupled with easy maintenance, thus the demand for aluminum-based harness wiring is expected to grow in the forecasting period globally.
By geography
Europe is dominating the global railway wiring harness market and it is expected to grow in the forecasting period to 2025. Due to its largest production base of rail products, services, and high-tech rolling stock. The European railway industry is advancing its technology and upgrading its total infrastructure with new and advanced connected technology, which will further drive the growth of railway wiring harness market.
Competitive Landscape
The increasing competitiveness and improving industry standards for quality harness is boosting the global railway wiring harness market besides increasing the competition in the market in terms of product offering.
In March 2018, Aurangabad-based Dhoot Transmission, the second largest wiring harness manufacturer in India in the two-wheeler space, and the fourth in overall, has acquired Parkinson Harness Technology, UK, a leading manufacturer, supplying to a wide client-base across commercial vehicles, off-road vehicles, construction vehicles, railways, defense, and utility vehicles.
Key market segments covered
BY HARNESS TYPE
HVAC Harness
Lighting Harness
Brake Harness
Traction System Harness
Engine Harness
Others
BY CABLE TYPE
Power Cable
Transmission Cable
Jumper Cable
Others
BY MATERIAL TYPE
Copper
Aluminum
Others
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BY REGION
Asia Pacific
Europe
North America
South America
Rest of the World
Why purchase the report?
Visualize the composition of the Railway Wiring Harness market across each indication, in terms of by harness type, by cable type, and by material type highlighting the key commercial assets and players.
Identify commercial opportunities in Railway Wiring Harness market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Railway Wiring Harness market - level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for the Railway Wiring Harness products of all major market players
Target Audience
Raw Material Suppliers/ Buyers
Product Suppliers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturer
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