According to Data Bridge Market Research new Market report, global railway wiring harness market will account to an estimated USD 2.44 billion in 2018 growing at a CAGR of 8.25% during the forecast period of 2019 to 2026.
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Railway wiring harness can be defined as the group of cables that have been combined and formed together so that they can be easily connected to various devices and components. This collection of wires results in decrease in the space occupied by the bunch of wires, and also increases the electrical efficiency of this collection.
Global railway wiring harness market is segmented on the basis of cable type, application, component, voltage, material, train type and geography.
By Cable Type (Transmission Cable, Power Cable, Jumper Cable, Others), Application (Lighting Harness, Brake Harness, Engine Harness, HVAC Harness, Traction System Harness, Infotainment Harness, Others), Component (Connector, Wire, Terminal), Voltage (High, Medium, Low), Train Type (Light Rail, High-Speed Rail/Bullet Train, Metro/Monorail) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN RAILWAY WIRING HARNESS MARKET
Increasing installation of railway lines
With the increasing levels of urbanization globally, there has been a need of cheap and effective mode of transportation which has resulted in an increase in adoption of railways, which has subsequently led to a focus on the development and installation of railway lines on a number of different regions by the authorities. Globally, the distance covered by the railway lines in 2015 was 1,145,923 kilometers, and this number has grown to 1,148,618.
This growing prevalence of railways as a mode of transportation and logistics has resulted in increased demand for railway wiring harness.
Key Market Competitors:
Few of the major competitors currently working in the railway wiring harness market are Samvardhana Motherson Group; NKT A/S; GAON CABLE Co.; Alvern Cables; DECA CABLES; KEI Industries Limited; TE Connectivity; IEWC; Milrail Inc; FURUKAWA ELECTRIC CO., LTD.; HELUKABEL; GPC Electronics; Tecnikabel SpA; Jiangnan Group Limited; Hitachi, Ltd.; General Cable Technologies Corporation; FURUKAWA ELECTRIC CO., LTD.; NEXANS; HUBER+SUHNER; TAIHAN ELECTRIC WIRE CO.LTD. and LS Cable & System Ltd.
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