Global Railway Wiring Harness Market 2019-2023 | Rising Investment in Urban Rail Transit Drives Growth | Technavio

Technavio’s global railway wiring harness market research report forecasts the market to grow at a CAGR of over 6% during the forecast period.

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The growing interest in high-speed railways will be one of the major trends in the global railway wiring harness market during 2019-2023. Rail transport provides high energy-efficiency over other forms of transport as it operates on mass-produced electricity and has been slowly shifting toward renewable energy sources. This has led to an increase in the deployment of high-speed rail networks, particularly in countries such as China, Japan, and in many countries across Europe.

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According to Technavio analysts, one of the key drivers for the global railway wiring harness market is the growing investment in urban rail transit:

Global railway wiring harness market: Growing investment in urban rail transit

Governments across the globe are focusing on investing in urban rail transit systems owing to the rising focus on easing congestion in cities and urban areas and the need for efficient public urban transportation systems. These short-distance passenger rail systems cater to efficient transportation in urban and suburban regions. The urban rail transit includes systems such as tram, light rail, rapid transit rail, monorail, and commuter rail.

According to a senior analyst at Technavio for research on transportation and distribution, “China has the largest combined length of the urban mass transit rail network. It has commissioned metro systems in 26 cities with 39 more projects approved for development. To support domestic investment-led growth, counter pollution levels, and dissuade the use of private transportation, the country has been building urban rail transit systems in major cities.”

Global railway wiring harness market: Segmentation analysis

This global railway wiring harness market analysis report provides market segmentation by application (HVAC, lighting, brake system, traction system, engine harness, and infotainment) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the six major applications, the HVAC segment held the largest railway wiring harness market share in 2018, contributing to over 21% of the market. The lighting segment will surpass this segment to become the largest share contributor to the market by 2022.

The EMEA region held the largest share of the market in 2018, accounting for more than 38% share. It was followed by APAC and the Americas respectively. EMEA is expected to dominate the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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