PUBLISHER: The Business Research Company | PRODUCT CODE: 1546575
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546575
A railway wiring harness consists of organized wires, cables, and connectors that efficiently transmit electrical power and signals throughout railway vehicles or systems. These harnesses play a crucial role in the operation of diverse electrical and electronic systems within trains, encompassing lighting, signaling, communication, control systems, and power distribution.
Types of railway wiring harnesses include power and signal, data and communication, control, lighting, heating, ventilation, air conditioning, and others. Power and signal harnesses facilitate the transmission of electrical power and control signals across railway systems, ensuring dependable operation and communication among components. Materials commonly used in these harnesses include copper, aluminum, fiber optics, and polymers, with cable types ranging from transmission cables and jumper cables to power cables and others. They find application in a variety of settings such as high-speed rail, urban transit systems, freight rail, passenger rail, and more.
The railway wiring harness market research report is one of a series of new reports from The Business Research Company that provides railway wiring harness market statistics, including railway wiring harness industry global market size, regional shares, competitors with a railway wiring harness market share, detailed railway wiring harness market segments, market trends and opportunities, and any further data you may need to thrive in the railway wiring harness industry. This railway wiring harness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The railway wiring harness market size has grown strongly in recent years. It will grow from $1.72 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth during the historical period stemmed from enhanced cross-border connectivity, the introduction of disaster prevention and recovery systems, the transition from diesel to electric trains, investments in durable wiring solutions for long-term use, and the incorporation of modern amenities in passenger railcars.
The railway wiring harness market size is expected to see strong growth in the next few years. It will grow to $2.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. Anticipated growth in the forecast period will be driven by the replacement of aging wiring harnesses in existing systems, increasing demand for efficient freight rail solutions, investments in rail infrastructure development and upgrades, urban population growth, and expansion of high-speed rail networks. Key trends expected in this period include the adoption of Internet of Things applications, advanced signaling and control systems, and the development of smart cities and connected transport networks.
The railway wiring harness market is poised for growth with the expansion of railway networks. These networks, comprising interconnected lines, stations, and infrastructure, facilitate the transport of passengers and goods across defined geographic areas by train. This expansion aims to meet rising demands for efficient, sustainable, and high-capacity transportation solutions in urban and intercity settings. Railway wiring harnesses play a crucial role in ensuring reliable transmission of electrical power and signals throughout trains and infrastructure. For example, in November 2023, Eurostat reported a 50.9% increase in rail passenger transport in the EU in 2022 compared to 2021, and a 75.9% increase compared to 2020. Additionally, in June 2023, the Centraal Bureau voor de Statistiek noted a 4.3% rise in Dutch railway goods transport in 2022 compared to 2021, totaling 44.5 million metric tons. Thus, the expansion of railway networks is a key driver of the railway wiring harness market's growth.
Leading companies in the railway wiring harness market are actively pursuing strategic partnerships to bolster their technological capabilities, expand market presence, and enhance competitiveness. These partnerships typically involve collaborations among companies, suppliers, manufacturers, and other stakeholders to leverage combined strengths, resources, and expertise. For instance, in April 2021, Nexans S.A. extended its partnership with RATP to supply specialized railway cables for the Paris metro and tram networks. This two-year agreement includes various cable types such as control, medium voltage, signaling, and K20 safety cables, designed to enhance cable life and safety in tunnels with halogen-free, flame-retardant properties.
In September 2021, Motherson Sumi Systems Ltd. acquired Bombardier's electrical wiring interconnection systems (EWIS) business in Huehuetoca, Mexico, for $10 million. This acquisition strengthened Motherson Sumi's position in the rail sector by expanding its capabilities to provide comprehensive electrical solutions for rail vehicles. Bombardier Inc., a Canadian company, specializes in manufacturing railway wiring harnesses and electrical components for the rail industry.
Major companies operating in the railway wiring harness market are Hitachi Ltd., Sumitomo Electric Industries, Prysmian Group, TE Connectivity, Samvardhana Motherson, Nexans S.A., Furukawa Electric Co. Ltd., Leoni AG, Fujikura Ltd., Taihan Cable & Solution Co. Ltd., NKT A/S, General Cable, HELUKABEL GmbH, Huber+Suhner AG, KEI Industries Limited, Schleuniger Inc., IEWC, Lakshmi Electrical Control Systems Limited, Milrail Inc., Alvern Cables, Allied Connectors, GAON CABLE Co. Ltd.
Europe was the largest region in the railway wiring harness market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the railway wiring harness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the railway wiring harness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The railway wiring harness market consists of sales of insulated wires and cables, electrical connectors and terminals, protective sheathing, sleeves, and components for distributing electrical signals. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Railway Wiring Harness Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on railway wiring harness market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for railway wiring harness ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The railway wiring harness market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.