Report Overview
[195 Pages Report] The Railway Wiring Harness Market report analyzes the global market shares, size, recent trends, future market outlook, and competitive intelligence. Railway wiring harnesses play a crucial role in the smooth functioning of trains by providing power and signals to various components. The market is driven by increasing demand for modernization of railway infrastructure, rising need for safety and security, and growing urbanization in America is booming. Key players in the Railway Wiring Harness Market include Lear Corporation, Furukawa Electric Co., Ltd., Nexans, and other prominent players operating in the market.
- Some of the standards for wiring harnesses in railways such as IRIS, ISO 9001, and ISO/TS 16949:2002 focuses on quality management and ISO 14001 certificates for the environmental 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.
Railway Wiring Harness Market Summary
| Metrics | Details |
| Market CAGR | 8.5% |
| Segments Covered | By Harness Type, By Cable Type, By Material Type, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Railway Wiring Harness Market Dynamics
- 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 are 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 proposed railway line linking Sichuan Province and the Tibet Autonomous Region.
- The rapid growth of the high-speed train network can be a significant factor to boost the growth of the global railway wiring harness market.
- The heavy-duty transportation for wiring harnesses depends upon the material and design if not appropriately imposed may lead to failure during usage and occurs enormous repair costs. This can hamper the growth of the global Railway wiring harness market.
Railway Wiring Harness Market Segmentation
- By Material Type, the global Railway wiring harness market is segmented into aluminum, copper, and others. Aluminum has the dominant market due to its lightweight 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 2026. 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 entire infrastructure with new and advanced connected technology, which will further drive the growth of the railway wiring harness market.
Railway Wiring Harness Companies and Competitive Landscape
- The increasing competitiveness and improving industry standards for the quality harness are boosting the global railway wiring harness market besides increasing the competition in the market regarding product offerings.
- In March 2018, Aurangabad-based Dhoot Transmission, the second-largest wiring harness manufacturer in India in the two-wheeler space, and the fourth overall acquired Parkinson Harness Technology, UK, a leading manufacturer, supplying a broad client base across commercial vehicles, off-road vehicles, construction vehicles, railways, defense, and utility vehicles.
