Railway Wiring Harness Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Railway Wiring Harness Market is segmented by Insulation(PVC, Vinyl, Thermoplastic Elastomer, and Others), by Wire Material (Copper, Aluminum, Others), by Train Type (High-Speed Rail, Light Rail, Metro/Monorail), by Application (HVAC, Engine, Lighting, Braking System, Infotainment System, Traction System, Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecasts for the Railway Wiring Harness Market in Value (USD billion) for the Above-mentioned Segments.

Market Snapshot

Railway Wiring Harness Market
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 5.13 %

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Market Overview

The railway wiring harness market was valued at USD 1.67 billion in 2021, and it is anticipated to reach USD 2.26 billion by 2027, registering a CAGR of about 5.13% during the forecast period (2022 – 2027).

The unprecedented outbreak of covid-19 tends to hault the passenger railway operations which turns to flatten the annual revenue curve of global railway market. Although, the freight activity was not hindered but due to muted industrial activities the frequency has significantly reduced. Whereas, 2021 was marked as the year of transition and the pace in railway activities are obbseved by the Q3 2021 which is expected to remain in growth trajectory over the assesment period.

The growing need for urban transportation including metro/monorails has increased exponentially over the past two decades and expected to posses the same inclination over the forecast period. The expanding urban population and increasing disposable income has propeled the demand for metro/monoraails, developing countries including China and India are likely to be at focal point over the coming years due to significant potential.

Increasing railways budget allocation would act as an catalyst factor for the growth of market. Railway wiring harness is expected to foray with increase in railways fleet across the world. For instance, In February 2021, Indian government announced INR 1,10,055 crore budget allocation for Indian railways.

Scope of the Report

Railway wiring harness is a collction or bunch of wires and cables which are used in railways, coaches, locomotive engines and elctrical & elctronic parts.

The Railway Wiring Harness Market is segmented by Insulation(PVC, Vinyl, Thermoplastic Elastomer, Polyurethane, Polyethylene), by Wire Material (Copper, Aluminum, Others), by Train Type (High-Speed Rail, Light Rail, Metro/Monorail), by Application (HVAC, Engine, Lighting, Braking System, Infotainment System, Traction System, Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The profiles of major players in the market are also covered in the report along with their market shares. The market size and forecast are provided in value (USD billion).

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Key Market Trends

Automation and Electrification of Railways

Increasing electrification across the transportation industry irrespective of the mode of transport, has led to the development of electrific trains which brings it to the forefront of electric transport after road transport. Electric locomotives are seen as a viable alternative to the existing diesel locomotives in the sectors of mining and heavy-haul for long distances stretching up to 2000kms or more at times.

With the increase in the traffic congestion across the urban centers around the globe, there is a strong need to develop faster, efficient and reliable transportation systems coupled with the advancement in technology and its integration with transportation systems like artificial intelligence and machine learning is expected to aid the market growth during the forecasted period.

Although the railway industry is still in nascent stage of automation, the need for huge investments for R&D of the equipment that can meet international quality and safety standards for automation, makes it difficult for new companies to enter the market and leaves the field to major players. 

Railway Wiring Harness Market_trend1

Asia-Pacific – Fastest Growing Market

Asia-Pacific is characterized by the presence of both developed and developing economies, such as Singapore, Malaysia, Indonesia, and Bangladesh. New rail projects for urban passenger transportation, as well as for the replacement and maintenance of the existing fleet, are expected to drive the market in these countries.

Asia-Pacific has one of the largest rail networks across the world and is expected to show the highest growth in the autonomous train market. Countries, such as India, China, and Japan have among the longest stretch of railways. Moreover, public transportation is also very popular in these countries, such as in India, where people often travel by metro for daily commuting. Due to this, the railway network plays a very significant role in the economic development of countries in Asia-Pacific.

The Indian rail market is witnessing steady growth, The installed base of metro-rail rolling stock in India is expected to increase to 5,458 railcars by 2023, owing to huge demand for commuter transportation in metropolitan cities. A total of 3,343 railcars are planned to be added to the metro-rail network, over a period of five years from 2018 to 2023. Of these, contracts for 1,758 railcars have already been awarded. Such factors can boost the demand for railway wiring harness.

key market trend 2

Competitive Landscape

The railway wirin harness market is dominated by a few players, such as Hitachi Metals Inc., Schleuniger, TE Connectivity, Prysmian Group and Samvardhana Motherson. Further companies including Furkawa Electric, Komachine Co., NAC Corporation, APAR and LECS (Lakshmi Electrical Control System Ltd) are trailing behind the growth of market.    

Recent Development

In May 2021, Motherson has acquired Bombardier electrical wiring business in Huehuetoca, Mexico. Company has announced this acqusition in 2020 september through their subsidary company Motherson Rolling Stocks (MRS) for USD 10 million.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Insulation

      1. 5.1.1 PVC

      2. 5.1.2 Vinyl

      3. 5.1.3 Thermoplastic Elastomer

      4. 5.1.4 Others

    2. 5.2 Wire Material

      1. 5.2.1 Copper

      2. 5.2.2 Alumunium

      3. 5.2.3 Others

    3. 5.3 Train Type

      1. 5.3.1 High-Speed Rail

      2. 5.3.2 Ligh Rail

      3. 5.3.3 Metro/Monorail

    4. 5.4 Application

      1. 5.4.1 HVAC

      2. 5.4.2 Engine

      3. 5.4.3 Lighting

      4. 5.4.4 Braking System

      5. 5.4.5 Infotainment System

      6. 5.4.6 Traction System

      7. 5.4.7 Others

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Russia

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 India

        2. 5.5.3.2 China

        3. 5.5.3.3 Japan

        4. 5.5.3.4 South Korea

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 South America

        2. 5.5.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Hitachi Metals Inc.

      2. 6.2.2 Schleuniger

      3. 6.2.3 TE Connectivity

      4. 6.2.4 Prysmian Group

      5. 6.2.5 Samvardhana Motherson

      6. 6.2.6 Furkawa Electric

      7. 6.2.7 Komachine Co.

      8. 6.2.8 NAC Corporation

      9. 6.2.9 APAR

      10. 6.2.10 LECS (Lakshmi Electrical Control System Ltd)

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Railway Wiring Harness Market market is studied from 2018 - 2027.

The Railway Wiring Harness Market is growing at a CAGR of 5.13% over the next 5 years.

The Railway Wiring Harness Market is valued at 1 Billion USD in 2018.

The Railway Wiring Harness Market is valued at 2 Billion USD in 2027.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Hitachi Metals Inc. , Schleuniger, TE Connectivity, Prysmian Group , Samvardhana Motherson are the major companies operating in Railway Wiring Harness Market .

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