Dublin, June 15, 2021 (GLOBE NEWSWIRE) -- The "Railway Wiring Harness Market by Application (HVAC, Lighting, Traction System, Infotainment), Material, Train (Metro/Monorail, Light Rail, HRS), Component (Wire, Connector), Voltage (High, Low), Cable, Wire Length ,End Use and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The railway wiring harness market, by value, was USD 1.5 billion in 2021. It is projected to grow at a CAGR of 4.6% from 2021 to 2026, to reach USD 1.9 billion by 2026.
Rapid urbanization in emerging countries has increased the demand for public transport such as rail networks. In addition, the increasing demand for a safe and efficient mode of transportation is expected to drive the growth of the market. The high population growth rate, particularly in Asia Pacific countries such as China and India, has intensified the need to increase mass transportation and expand the existing rail infrastructure. China invested USD 50.3 billion in the railway sector during the first half of 2020. Investments in railways are expected to provide growth opportunities for the railway wiring harness market in future.
According to the World Economic Forum, while in 1950, less than 20 percent of Africans lived in cities, that number had increased to 43 percent and 51 percent, respectively, by 2020 South America also increased urban populations majorly during the same time period, arriving at an urban population share of more than 80 percent - higher than that of Europe. Increasing urbanization is expected to drive the growth of rapid transit systems such as metros, subways, light rails, and trams. Various countries are increasingly investing in metro systems to reduce traffic on roads. Emerging countries such as India, China, Egypt, and Brazil are investing significantly in the development of metro infrastructure which in turn will support the growth of railway wiring harness.
According to UIC, the global extension of the high-speed rail network is expected to reach more than 80,000 km by 2030-2035. Countries such as Japan, China, Germany, France, and Spain have successfully installed high-speed rail networks, which have revolutionized transportation in these countries. For instance, the high-speed rail line between the Chinese cities of Xi'an and Chongqing has reduced travel time from 9.5 hours to 5.5 hours. These aspects related to high-speed rail transit drive the growth of high voltage electrified rail tracks, which, in turn, are expected to boost the growth of the railway wiring harness market.
Increased Investments for Introducing Advanced Technologies in Trains is to Drive Wire Segment by Component
The wire segment is expected to be the largest and fastest-growing market due to the increasing number of electronic systems in a train and the rising trend of driverless trains. Increasing urbanization, rising demand for increased connectivity, and the comfort, reliability, and safety offered by rail transport have led to the growth of wire components for rail transportation. Rolling stock plays a vital role in the infrastructure of a city or a country. There is a rising demand for convenient, eco-friendly, and safe modes of transportation from commuters and governments. For instance, in 2020, China announced investments of USD 14 billion for Intercity transportation and high-speed rail projects. In 2020, 24 European countries came together to boost international rail routes and provide international services for passengers who travel in a range of 300 km-800 km such as digital solutions for complex ticketing systems for multiple journeys. This is expected to boost the passenger transportation market in the coming years. Thus, with growing applications of wiring harnesses in railways, wiring with different lengths would witness significant demand.
Increasing Demand for High-End Connected Trains is Driving Railway Wiring Harness Market
OEM is estimated to hold the largest market share during the forecast period. Increasing advanced rolling stock orders and deliveries, economic growth across the regions, and increasing demand for passenger comfort in trains are the factors driving the railway wiring. Most new trains are equipped with advanced features such as enhanced lighting, HVAC and infotainment, leading to higher demand for the wiring harness. As a result, the OEMs segment would continue dominating the market. In 2020, Over 7,000 conventional coaches are expected to be denounced as Indian Railways has begun the massive exercise of replacing the entire fleet with German-designed LHB (Linke Hofmann Bosch) coaches in a phase-wise manner, a move aimed at strengthening safety and increasing the speed of all trains. Aftermarket is estimated to show the highest CAGR growth due to the changing technologies which require regular upgradation in the rolling stocks system.
Improving Safety of The Electrical and Electronic Systems of the Train to Drive the Market
The global demand for rail vehicles is fuelled by the rising population in urban areas, which is placing significant pressure on the existing transportation infrastructure and necessitates the expansion of the network infrastructure. According to UNCTAD (2020 report), 51.1% lived in urban areas ten years ago. The share of the urban population increased to 55.7% in 2019. It is generally higher in the developed (80.5% in 2019) than in the emerging world (51.1%), with transition economies in between the two (65.4%). Over the last ten years, urbanization has been most prominent in emerging economies, especially in Asia, which witnessed the urbanization rate increase from 42.3% in 2009 to 49.1% in 2019.
The increasing urban population is expected to require governments to increase urban transportation facilities such as metros, light rails, monorails, and subways. This is expected to drive the demand for new rail vehicles including locomotives, multiple units, wagons, and coaches. The increase in rail projects will directly impact the demand for railway wirings as they carry and provide electric energy for the systems across the train. Presently, trains have a greater number of wiring due to the inclusion of a larger number of electric systems such as surveillance cameras, sensors, visual boards, and chargers. A wire harness is compact and is insulated with plastic, which improves the safety of the electrical and electronic systems of the train. It has become vital for wiring harness manufacturers to meet the global demand and comply with safety standards in order to become more agile and adapt to consistent technological enhancements.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Railway Wiring Harness Market
4.2 Railway Wiring Harness Market, by Region
4.3 Railway Wiring Harness Market, by Cable Type
4.4 Railway Wiring Harness Market, by Voltage
4.5 Railway Wiring Harness Market, by Material
4.6 Railway Wiring Harness Market, by Application
4.7 Railway Wiring Harness Market, by Train Type
4.8 Railway Wiring Harness Market, by Component
4.9 Railway Wiring Harness Market, by Wire Length
4.10 Railway Wiring Harness Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Railway-Related Projects
5.2.1.2 Increasing Demand for Safety and Security Concerns
5.2.1.3 Rising Smart City Projects
5.2.2 Restraints
5.2.2.1 Environmental Challenge for Wiring Harness
5.2.3 Opportunities
5.2.3.1 Growing Trend of Driverless Trains
5.2.3.2 Development of Energy-Efficient Wiring System
5.2.4 Challenges
5.2.4.1 Fluctuating Prices of Copper
5.2.4.2 Durability Issues
5.2.4.3 Lack of Proper Railway Infrastructure
5.3 Porter's Five Forces
5.3.1 Competitive Rivalry
5.3.1.1 a Large Number of Players in the Market Leads to Medium Competition in the Railway Wiring Harness Market
5.3.2 Threat of New Entrants
5.3.2.1 Stringent Government Regulations Offer Hindrance in Entering the Market
5.3.3 Threat of Substitutes
5.3.3.1 Availability of Limited or No Substitutes Makes the Threat Low
5.3.4 Bargaining Power of Buyers
5.3.4.1 Specific Buyer Requirement and a Large Number of Suppliers Makes the Bargaining Power of Buyers High
5.3.5 Bargaining Power of Suppliers
5.3.5.1 a Large Number of Component Suppliers of Tier 1 Companies Makes the Bargaining Power of Suppliers Low
5.4 Railway Wiring Harness Market Ecosystem
5.5 Value Chain Analysis
5.6 Average Selling Price Trend
5.7 Patent Analysis
5.8 Tariff and Regulatory Overview
5.9 Case Study
5.9.1 Elecworks Brings an Advanced Method That Accelerates and Enhances the Electrical Design at China Zhuzhou South Railway Institute - Wind Power Business Unit 78
5.9.2 Cable Management Specific Standard Under Railway Category in China
5.10 Import and Export Data
5.11 Railway Wiring Harness Market: COVID-19 Impact
5.11.1 Impact on Raw Material Supply
5.11.2 COVID-19 Impact on Railway Wiring Harness
5.12 Railway Wiring Harness Market, Scenarios (2021-2026)
5.12.1 Railway Wiring Harness Market, Most Likely Scenario
5.12.2 Railway Wiring Harness Market, Optimistic Scenario
5.12.3 Railway Wiring Harness Market, Pessimistic Scenario
5.13 Revenue Shift for Railway Wiring Harness Manufacturers
5.14 Technology Analysis for Railway
5.14.1 IoT in Railways
5.14.2 Big Data Analytics and Cloud Computing in Railways
5.14.3 Connected Trains
5.14.3.1 Positive Train Control (Ptc)
5.14.3.2 Communication/Computer-Based Train Control (Cbtc)
5.14.3.3 Passenger Information System (Pis)
5.14.4 Autonomous Train
5.14.5 European Network and Information Security Agency (Enisa)
5.15 Technology Analysis for Railway Wiring Harness
5.15.1 Drag Chain and Torsion Railway Wiring Harness
5.15.2 Wiring Harness with Dual Temperature
6 Railway Wiring Harness Market, by Application
7 Railway Wiring Harness Market, by Cable Type
8 Railway Wiring Harness Market, by Component
9 Railway Wiring Harness Market, by Material
10 Railway Wiring Harness Market, by Train Type
11 Railway Wiring Harness Market, by Voltage
12 Railway Wiring Harness Market, by Wire Length
13 Railway Wiring Harness Market, by End Use
14 Railway Wiring Harness Market, by Region
15 Competitive Landscape
16 Company Profiles
16.1 Key Players
16.1.1 Leoni
16.1.2 Hitachi Ltd.
16.1.3 Nexans
16.1.4 TE Connectivity
16.1.5 Prysmian Group
16.1.6 Samvardhana Motherson International Limited
16.1.7 Furukawa Electric Co., Ltd.
16.1.8 Taihan Wire Co, Ltd.
16.1.9 LS Cable & System Ltd
16.1.10 Huber+Suhner
16.1.11 Elcowire Group
16.2 Other Players
16.2.1 KEI Industries
16.2.2 CMI
16.2.3 Gaon Cable
16.2.4 Jiangnan Group
16.2.5 Helukabel
16.2.6 AQ Group
16.2.7 Tecnikabel
16.2.8 IEWC
16.2.9 GPC
16.2.10 Deca Cables
16.2.11 Milrail
16.2.12 UMMC
16.2.13 Alvern Cables
16.2.14 Advanced Transit Manufacturing and Fortitude Industries, Inc.
17 Appendix
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