Global Railway Wiring Harness Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Railway Wiring Harness Market Overview:

"The Railway Wiring Harness Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

A railway 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.

Dynamics:

Various technological advancements in both mechanical and electrical systems implemented in railways are expected to boost future revenue growth opportunities for the global railway wiring harness market. Additionally, due to the growing developments and robust changes with the aim of improving energy efficiency, reliability, effectiveness and quality of railway transport and infrastructure are expected to significantly impact the revenue growth of the global railway wiring harness market in the years to come.

Other factors that are slated to influence the revenue growth of this global market in the coming years are the rapid urbanization of various regions across the globe, booming population figures, and rising concerns about environmental sustenance.

Furthermore, the implementation of driverless trains to improve the quality of railways is expected to be a substantial source of revenue generation in the coming years. This can be chalked up to the fact that new wiring systems are to be included in new vehicles, and older trains are to be retrofitted with contemporary designs.

Segmentation of the global railway wiring harness market is as follows:

In terms of component, the wires segment accounted for the majority revenue share of the global railway wiring harness market in 2019, and is expected to continue to do so in the future. This is due to the rising use of wires across various applications. The terminal segment is also expected to index considerable revenue growth in the foreseeable future.

On the basis of material, the aluminum segment accounted for the highest number of revenue shares in 2019 due to the favorable properties of aluminum such as lightweight, increased durability and a good conductor of electricity.

With respect to voltage, the low voltage segment accounted for the majority revenue share of this global market, and is expected to continue to do so over the next 10 years. This can be accredited to increasing investments towards upgrading rolling stock technology. Concerning train type, the bullet train/high-speed rail segment accounted for the highest number of revenue shares in 2019, and is expected to continue to do so over the next decade.

About application, the HVAC harness segment is expected to account for the largest number of revenue shares in the years to come. However, the infotainment harness segment is slated to register the fastest rate of revenue growth in the foreseeable future.

Regional Segmentation and Analysis:

Europe accounted for the majority revenue share of the global railway wiring harness market in 2019. Although, the APAC region is expected to become the fastest growing region on account of their increasing population figures, as well as the need for improved railway systems in this region.

Segmentation of the Global Railway Wiring Harness Market:

Segmentation by Component:

• Wire
• Connector
• Terminal
• Others

Segmentation by Material:

• Aluminum
• Copper
• Others

Segmentation by Voltage:

• Low Voltage (Up to 1000V)
• Medium Voltage (1000V to 25kV)
• High Voltage (25kV to 230 kV)

Segmentation by Train Type:

• Metro Rail Transit/Monorail
• Light Rail Transit
• High-Speed Rail/Bullet Rail
• Others

Segmentation by Application:

• HVAC Harness
• Lighting Harness
• Brake Harness
• Engine Harness
• Infotainment Harness
• Transaction System Harness
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa