Global Railway Wiring Harness Market is expected to rise from its initial estimated value of USD 2.44 billion in 2018 to a projected value of USD 4.61 billion by 2026, registering a CAGR of 8.25% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing number of railway lines and rail projects being incorporated globally.
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Report Segmentation: –
Global Railway Wiring Harness Market 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, Others), Voltage (High, Medium, Low), Material (Aluminum, Copper, Others), Train Type (Light Rail, High-Speed Rail/Bullet Train, Metro/Monorail), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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.
A wiring harness is an organized set of wires, terminals and connectors that run throughout the entire vehicle and relay information and electric power, thereby playing a critical role in “connecting” a variety of components.
Global railway wiring harness market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of railway wiring harness market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
- Growth in the number of railway projects and smart transportation projects globally; this factor is expected to positively drive the market growth
- Challenges and factors associated with environmental conditions and capabilities of the product to withstand these conditions’, these factors are expected to act as a restraint to the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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