Railway Wiring Harness Market by Application (HVAC, Lighting, Traction System, Infotainment), Material, Train Type (Metro/Monorail, Light Rail, HRS), Component (Wire, Connector), Voltage (High, Low), Cable Type, and Region - Global Forecast to 2025
“The increasing demand for advanced technology and increasing railway projects are expected to drive the railway wiring harness market.”
The railway wiring harness market, in terms of value, is projected to grow at a CAGR of 8.61% from 2018 to 2025. The market is estimated to be USD 2.36 billion in 2018 and is projected to reach USD 4.21 billion by 2025. Market growth can be attributed to the increasing adoption of electronic technology and increasing railway projects across the globe. 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 USD 2.9 bn. However, issues related to the environment can restrain the growth of the market.
“Increasing number of high-speed rail/bullet train projects to drive the railway wiring harness market”
The increased focus on high-speed rail programs in Asia Pacific, Europe, and North America and increasing government investments in rail infrastructure and equipment are expected to drive the market for railway wiring harness. The rapid growth of the high-speed train network can be attributed to the numerous benefits of the high-speed train technology, which includes freight transport too. The increase in the adoption rate of high-speed trains has raised the demand for railway wiring harness across the globe.
“European region is the largest market in the railway wiring harness market globally.”
Europe is estimated to be the largest market for railway wiring harness during the forecast period. The European rail industry is known for its largest rail products, services, and high-tech rolling stock. The European railway industry is technologically advanced and is witnessing fast progress in upgrading its total infrastructure with connected technology.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier 1 - 52 %, Tier 2 - 27%, Tier 3 - 21%
By Designation: C level - 47%, D level - 37%, Others - 16%
By Region: Asia Pacific - 28%, North America - 22%, Europe - 26%, RoW - 14%, Middle East & Africa- 10%
The report provides detailed profiles of the following companies:
TE Connectivity (Switzerland)
Samvardhana Motherson (India)
General Cable (US)
Taihan (South Korea)
LS Cable & System (South Korea)
The report explains the drivers, restraints, challenges, and opportunities in the railway wiring harness market. The report also gives a qualitative and quantitative description of different segments considered for the railway wiring harness market. The report segments the railway wiring harness market based on the application (brake, engine wiring, HVAC), components (wires, connectors, terminals, others), material, voltage, train type, cable type, and region.
Reasons to Buy the Report:
The report provides insights into the following points:
Market Penetration: The report provides comprehensive information on the railway wiring harness market and the top players in the industry.
Market Development: The report provides comprehensive information about various applications of railway wiring harness. The report analyzes the market for various railway wiring harness applications across different countries.
Market Diversification: The report provides exhaustive information about emerging technologies, recent developments, and investments in the global railway wiring harness market.
Competitive Assessment: The report offers an in-depth assessment of strategies, services, and manufacturing capabilities of leading players in the global railway wiring harness market.