Global Railway Wiring Harness Market 2019-2023
- Published: Oct 2018
- Pages: 123
- SKU: IRTNTR30007
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The railway wiring harness market size will grow by USD 884.07 million during 2019-2023. This report offers an analysis of the market based on application (HVAC, lighting, brake system, traction system, engine harness, and infotainment) and geography (the Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including FURUKAWA ELECTRIC, Hitachi Metals, LEONI, Nexans, and Prysmian Group.
Below are some of the key findings from the railway wiring harness market research report\
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Global railway wiring harness industry overview
The introduction of new railway projects across the globe is one of the primary factors that will drive the railway wiring harness market growth in the coming years. There is rising demand for wiring harnesses in new locomotives, signaling, and stations, especially in the APAC region. This is driven by the numerous national and international railway projects in planning, development, and construction stages in this region. India, China, Thailand, and various European and the Middle Eastern countries are planning to make significant investments in the railway industry in the next few years, to enhance domestic and international connectivity and logistics channels. The Indian government approved six new railway projects across four states with an approximate cumulative value of USD 1.8 billion in February 2018, which is expected to be completed by 2022-2023. Similarly, as part of the “Belt and Road” initiative, China has made considerable investments in developing rail-freight networks between Asian and European countries. These types of projects will significantly drive the demand for railway wiring harness in the coming years.
The growing interest in high-speed railways is one of the key trends that is expected to propel railway wiring harness market growth. The interest in high-speed railways is rising due to its ability to mitigate CO2 emissions in the transportation sector, to compete for head-on with short-haul airlines. This has enhanced the deployment of high-speed rail networks, particularly in China, Japan, and European countries. As the adoption of high-speed railways increases, it will open up new opportunities for railway wiring harness and augment their demand. The railway wiring harness market forecast report predicts that fueled by these factors, the market will grow at a CAGR of over 6% during the forecast period.
Top railway wiring harness companies covered in this market research report
The railway wiring harness market is moderately fragmented with the market share distributed between multiple players. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this railway wiring harness industry analysis report is designed to aid clients identify and build new growth strategies.
The report offers a complete analysis of various companies including:
- FURUKAWA ELECTRIC
- Hitachi Metals
- Prysmian Group
Railway wiring harness market segmentation based on geographic regions
According to global railway wiring harness market analysis, the EMEA region will account for the largest railway wiring harness market share. The highest incremental growth will also originate from EMEA during the forecast period.
Railway wiring harness market segmentation based on application
- Brake system
- Traction system
- Engine harness
The HVAC segment led the railway wiring harness market share in 2018. However, the lighting segment will register the highest market growth and by 2023, overtake the HVAC segment and become the railway wiring harness market share leader. Additionally, the report will also provide an accurate prediction of the contribution of the various application segments to the growth of the railway wiring harness market size.
Key highlights of the global railway wiring harness market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the railway wiring harness market during the next five years
- Precise estimation of the global railway wiring harness market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the railway wiring harness industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the railway wiring harness companies
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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