New York, June 09, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Railway Wiring Harness Market by Application, Material, Train, Component, Tension, Cable, Wire Length, End Use and Region – Forecast world to 2026 “- https://www.reportlinker.com/p05479723/?utm_source=GNW
The high population growth rate, especially in Asia-Pacific countries such as China and India, has intensified the need to increase public transport and expand existing rail infrastructure. China invested USD 50.3 billion in the railway sector in the first half of 2020. Investments in railways are expected to provide growth opportunities for the railway wire harness market in the future.
According to the World Economic Forum, while in 1950 less than 20 percent of Africans and sns lived in cities, that number had risen to 43 percent and 51 percent, respectively, by 2020 America The South also increased the urban population significantly over the same period, reaching an urban population share of over 80 percent – higher than that of Europe. Growing urbanization is expected to lead to the growth of rapid transport systems such as subways, subways, streetcars and streetcars.
Various countries are investing more and more in metro systems to reduce traffic on the roads. Emerging countries such as India, China, Egypt and Brazil are investing heavily in the development of metro infrastructure which in turn will support the growth of railway wire harnesses.
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 like Japan, China, Germany, France and Spain have successfully installed high-speed rail networks, which have revolutionized transportation in these countries.
For example, the high-speed rail line between the Chinese cities of Xi’an and Chongqing reduced the journey time from 9.5 hours to 5.5 hours. These aspects related to high-speed rail transit are driving the growth of electrified high-voltage rail tracks, which in turn is expected to drive the growth of the railway wire harnesses market.
INCREASING INVESTMENT FOR THE INTRODUCTION OF ADVANCED TECHNOLOGIES IN TRAINS IS TO DIRECT THE WIRE SEGMENT BY COMPONENT
The cable segment is expected to be the largest and most dynamic market due to the increasing number of electronic systems in a train and the growing trend of driverless trains. Growing urbanization, increasing demand for increased connectivity and the comfort, reliability and safety offered by rail transport have led to the growth of wire components for rail transport.
Rolling stock plays an essential role in the infrastructure of a city or country. There is a growing demand for convenient, environmentally friendly and safe modes of transportation from commuters and governments.
For example, in 2020, China announced investments of $ 14 billion for intercity transport and high-speed rail projects. In 2020, 24 European countries came together to boost international rail routes and provide international services to passengers traveling within 300 km. -800 km as digital solutions for complex ticketing systems for multiple journeys.
This should stimulate the passenger transport market in the years to come. Thus, with the increasing applications of wire harnesses in railways, cables of different lengths would experience significant demand.
THE GROWING DEMAND FOR PREMIUM CONNECTED TRAIN IS THE RAIL WIRING HARNESS MARKET
OEM is estimated to hold the largest market share during the forecast period. The increase in orders and deliveries of advanced rolling stock, economic growth in the regions and the increasing demand for passenger comfort on trains are the factors determining railway cabling.
Most of the new trains are equipped with advanced features like improved lighting, HVAC and infotainment resulting in higher demand for the wire harness. As a result, the OEM segment would continue to dominate the market.
In 2020, more than 7,000 conventional cars are expected to be denounced as Indian railways have started the massive exercise of replacing the entire fleet with German-designed LHB (Linke Hofmann Bosch) cars on a gradual basis, a measure to strengthen safety and increase the speed of all trains. The aftermarket is estimated to show the highest growth in CAGR due to evolving technologies that require regular upgrading of the rolling stock system.
Improve the safety of the train’s electrical and electronic systems to drive the market
Global demand for rail vehicles is fueled by increasing population in urban areas, which places significant pressure on existing transport infrastructure and necessitates expansion of network infrastructure. According to UNCTAD (2020 report), 51.1% lived in urban areas ten years ago. The share of the urban population rose to 55.7% in 2019. It is generally higher in developed countries (80.5% in 2019) than in emerging countries (51.1%), economies in transition are between the two (65.4%). Over the past decade, urbanization has been highest in emerging economies, particularly in Asia, where the rate of urbanization increased from 42.3% in 2009 to 49.1% in 2019. increasing urban population should force governments to increase urban transport facilities. like subways, streetcars, monorails and subways. This is expected to stimulate demand for new rail vehicles, including locomotives, multiple units, wagons and cars. The increase in railway projects will have a direct impact on the demand for railway cabling as they transport and supply electrical power for systems through the train. Currently, trains have more wiring due to the inclusion of more electrical systems such as surveillance cameras, sensors, visual panels, and chargers. A wire harness is compact and insulated with plastic, which improves the safety of the train’s electrical and electronic systems. It has become vital for manufacturers of wire harnesses to meet global demand and comply with safety standards in order to become more agile and adapt to constant technological improvements.
The study contains information from various industry experts ranging from component suppliers to Tier 1 companies and OEMs. The distribution of the primaries is as follows:
â¢ By type of business: level 1 – 52%, level 2 – 27%, others – 21%
â¢ By designation: level C – 47%, level D – 37%, others – 16%
â¢ By region: Asia-Pacific – 28%, North America – 22%, Europe – 26%, Middle East and Africa -14%, RDM-10%
The major players presented in the report are Hitachi Ltd. (Japan), Prysmian Group (Italy), TE Connectivity (Switzerland), Leoni (Germany) and Nexans (France).
The report segments the Railway Wiring Harness market and forecast its size, by value, based on the type of train (metro / monorail, light rail and bullet train / bullet train), application (HVAC, lighting, brake, traction system, engine, infotainment and others), component (wire, connector, terminal and others), type of cable (power cable, transmission cable, jumper cable and others), voltage (low voltage , medium voltage and high voltage), Wiring harness length (less than 5 feet, 5 to 15 feet, more than 15 feet), end use (OEM and aftermarket) and region. It also covers the competitive landscape and company profiles for key players in the Railway Wiring Harness market ecosystem.
Main advantages of purchasing the report:
â¢ The report will help the market leaders / new entrants in this market with information about the closest approximations to revenue and value for the Railway Wiring Harness market and its sub-segments.
â¢ This report will help stakeholders understand the competitive landscape and gain more information to better position their businesses and plan appropriate go-to-market strategies.
â¢ The report will also help market players understand the impact of COVID-19 on the Railway Wiring Harness market.
â¢ The report also helps stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05479723/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.