The global Railway Wiring Harness market gathered revenue around USD 1.0 Billion in 2020 and market is set to grow USD 2.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.9% during the prediction period 2021 to 2027. The increasing number of projects such as light rail and metro in various regions are expected to drive the market for railway wiring harness. Electrification of existing track length is expected to drive the market. Various governments plan to electrify existing railway networks. For instance, the Indian Railways completed the electrification of 40,000 km of which, 18,606 km was completed during the period from 2014 to 2020. A target has been set to complete the electrification of an additional 7,000 km by 2021. India plans to electrify all broad-gauge networks by 2023. Spain has proposed a 37% increase in suburban investments in its railway budget for 2021 presented in October 2020. All this is supporting the growth of railway wiring harness demand across various countries.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Railway Wiring Harness market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Railway Wiring Harness market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Railway Wiring Harness market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Challenge:
Copper is used in multiple industries such as infrastructure and electricity. Hence, the cost of copper keeps fluctuating. These fluctuations tend to increase due to the supply and demand gap. The demand for copper is extensive, which primarily governs its global pricing. With the growing economies, the demand for copper is anticipated to increase, thereby inflating the prices worldwide. The railway industry procures a large quantity of copper to manufacture wiring harness for trains. Various factors are considered while manufacturing wiring harness, which controls the pricing of the wiring harness. These factors include price of material, transport cost, and labor cost. Manufacturing of wiring harnesses is labor-intensive.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Railway Wiring Harness Market are:
Hitachi Ltd. (Japan), Prysmian Group (Italy), TE Connectivity (Switzerland), Leoni (Germany), and Nexans (France)
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Train Type
- Metro/Monorail
- Light Rail
- High-Speed Rail/Bullet Train
By Application
- HVAC
- Lighting
- Brake
- Traction System
- Engine
- Infotainment
- Others
By Component
- Wire
- Connector
- Terminal
- Others
By Cable Type
- Power Cable
- Transmission Cable
- Jumper Cable
- Others
By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
By Material Type
By Wire Length
- Less Than 5 Feet
- Less than 15 Feet
- More Than 15 Feet
By End Use
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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