Railway Wiring Harness Market

Market Leaders - Railway Wiring Harness Market

The railway wiring harness market is projected to grow at a CAGR of 8.61% during the forecast period, from an estimated value of USD 2.36 billion in 2018 to USD 4.21 billion by 2025. The key growth drivers for the market are the rising demand for a safe and efficient mode of mass transportation, increasing government investments in transport sector, and increase in driverless trains.

The increasing demand for passenger comfort in the present generation rolling stock and profitability for operators has enhanced the use of power supply and distribution networks. The power applications, which are spread across the train underfloor and roof, include power converters/inverters as well as power storage and miscellaneous distributed sub systems. Various rail OEMs and railway wiring manufacturers are working together to reduce energy consumption of systems in a train through energy-efficient cables and wirings.

Expansion and new product development are the key strategies adopted by major players to gain traction in the railway wiring harness market. In November 2017, Prysmian Group announced a planned expansion of the company’s facility in Claremont, North Carolina. The USD 54 million investment will increase the plant’s capacity by 60% and support the production of optical fiber for the telecom industry. With this investment, Prysmian Group has approved a capital expenditure of more than USD 79 million for its Claremont facility since 2014.

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Furukawa (Japan) is one of the key players in the railway wiring harness market. The company is primarily engaged in the manufacturing of cables for rail vehicles, signal cables for railway, and cab-tire cables. Furukawa has a strong global presence with 120 facilities worldwide. Furukawa integrates its electronics components and mechatronics technologies to develop various products. In May 2018, Furukawa set up a new optical fiber cable manufacturing plant in Morocco as a part of its initiative to strengthen its business activities in the EMEA (Europe, Middle East, and Africa) market. The plant will serve as a manufacturing center for Furukawa Electric, and is the company’s first such center in Africa.

Another important player in the railway wiring harness market is Leoni, a German-based wire & cable manufacturer. Leoni manufactures cables & systems, customized roof jumper assemblies, and high-tech cables & systems under the transportation product category. Leoni has established itself as a prominent player in the transportation industry, particularly in the wiring harness segment, and offers an innovative and efficient product portfolio. In 2017, the company inaugurated an electron beam accelerator at its cable manufacturing facility in Pune, India, which allows to provide high performance cables for various industries such as railway and solar.

In addition to Furukawa (Japan) and Leoni (Germany), Hitachi (Japan), Nexans (France), Prysmian (Italy), TE Connectivity (Switzerland), Samvardhana Motherson (India), General Cable (US), Taihan (South Korea), NKT (Denmark), Huber-Suhner (Switzerland), and LS Cable & System (South Korea) are the prominent players in the railway wiring harness market.

Related Reports:

Railway Wiring Harness Market by Application (HVAC, Lighting, Traction System, Infotainment), Material, Train Type (Metro/Monorail, Light Rail, HRS), Component (Wire, Connector), Voltage (High, Low), Cable Type, and Region - Global Forecast to 2025

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Report Code
AT 6472
RI Published ON
7/19/2018
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