Global Railway wiring harness Market to reach USD 1.96 billion by 2027.Global Railway wiring harness Market is valued approximately USD 1.43 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.6 % over the forecast period 2021-2027. Railway wiring harness is defined as the connection of electrical wires / cables with the use of various materials as vinyl, rubber etc. The wiring harness of any system is used for the transmission of electronic signals and electrical power. The increasing railway projects and rising smart city projects has led the adoption of Railway wiring harness across the forecast period. Increasing railway projects are for the better connectivity to connect remote areas to the mainstream. For instance, As per IBEF, India Railways announced that 40% of dedicated freight corridor (DFC) will be opened for traffic by end-FY21, and 2,800 km route will be completed by June 2022 and passenger traffic was valued at 8.10 billion and is estimated to reach 12 million by 2031. However, environmental challenge impedes the growth of the market over the forecast period of 2021-2027. Also, with rise in metro train and bullet train projects, the adoption & demand for Railway wiring harness is likely to create demand for Railway wiring harness Market during the forecast period.

Global Railway wiring harness Market is segmented on the basis of geographical region as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technological advancement and increase in better fastest means of communication as projects of mono rail, and bullet train. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as increase in population, rising bullet train projects and rise in FDI would create profitable growth prospects for the Railway wiring harness Market across Asia-Pacific region.

Major market player included in this report are:
LEONI
Hitachi ltd.
Nexans
Te connectivity
Prysmian group
Samvardhana Motherson International Limited
Furukawa electric co., ltd.
Taihan wire co, ltd.
Ls cable & system ltd
Hubersuhner
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service:
Operational data
Wire
Connector
Terminal
Others
By Ownership:
OPERATIONAL DATA
HVAC
LIGHTING
BRAKES
TRACTION SYSTEM
ENGINE
INFOTAINMENT
OTHERS
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Railway wiring harness Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors