Railway Wiring Harnesses Command Heavy Market Share

According to the report, “Railway Wiring Harness Market by Application, Material, Train Type, Component, Voltage, Cable Type, and Region - Global Forecast to 2025” by MarketsandMarkets, the market is estimated to be $2.36 billion in 2018 and is projected to reach $4.21 billion by 2025, growing at a CAGR of 8.61% during the forecast period. Growth is driven by increasing adoption of electronics systems and increasing railway projects across the globe. For instance, Dubai plans to undertake a five-stage extension of the Dubai Metro Red Line by 2020 and the project costs around $2.9 Billion.

 

Report Takeaways

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  • Traction system is estimated to be the largest segment in the Railway Wiring Harness Market, by application
  • The light rail is estimated to be the largest segment in the Railway Wiring Harness Market during the forecast period, by train type
  • The Middle East & Africa (MEA) region is the fastest growing market for railway wiring harness
  • The ecosystem of the Railway Wiring Harness Market consists of manufacturers such as Furukawa (Japan), Leoni (Germany), Hitachi (Japan), Nexans (France), and Prysmian (Italy). 

Need to acquire greater railway harness enlightenment? Then browse “Railway Wiring Harness Market” report.

 

MarketsandMarkets Inc.

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