USD 1.84 billion
Train Wire Harness Market Size, Share, Growth Analysis, By Component(Wire, Connector, Terminal, Others), By Material(Aluminum, Copper, Others), By Voltage(Low Voltage (Up to 1000V), Medium Voltage (1000V to 25kV), High Voltage (25kV to 230 kV)), By Train Type(Metro Rail Transit/Monorail, Light Rail Transit, High-Speed Rail/Bullet Rail, Others), By Application(HVAC Harness, Lighting Harness, Brake Harness, Engine Harness), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2068 |
Region:
Global |
Published Date: July, 2024
Pages:
223
|Tables:
150
|Figures:
74
Train Wire Harness Market Insights
Train Wire Harness market size was valued at USD 1.84 billion in 2022 and is poised to grow from USD 1.94 billion in 2023 to USD 2.92 billion by 2031, at a CAGR of 5.28% during the forecast period (2024-2031).
Train wiring outfit is assortment and association of wires or electrical links that are used in rail routes, train motors, intruders and in a few hardware and electrical gadgets. The purpose of this wiring harness is to limit and control the transmission of vibrations and shocks. The demand for train wiring harness is rising as a result of the rapid adoption of internet services through LAN for communication purposes. To simplify the Train industry, Train manufacturing companies are developing cutting-edge technological wiring harnesses. In addition, the growth of the market is fueled by advancements in the Train electronics system, such as high-quality lights, sound systems, touch screens, HVAC, and high-speed internet services. New rail projects are being proposed by the governments of various regions to improve rail connectivity and expand and upgrade the existing infrastructure. Worldwide, the use of high-speed rail transportation is rapidly expanding. The government's smart city initiatives are also contributing to the market's expansion for Train wiring harnesses.
The demand for the Train wiring harness is ultimately rising as a result of the ongoing expansion of urbanization, the expansion of the rail network system, rising demand for public transportation, and rapid commuting. The market's expansion is also being fueled by commuters' rising expectations for superior rail infrastructure, internet services, and other safety features. The market is also expanding due to the increasing use of metros, high-speed or bullet trains, and government initiatives like smart city projects. On the other hand, changes in the environment may result in corrosion, short circuits, and other damages. In addition, the market expansion during the forecast period may be hampered by the high risk of wiring complexity and the absence of maintenance.
US Train Wire Harness Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Wire
Fastest Growth
Wire
Growth Rate
5.28% CAGR
Global Train Wire Harness Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
To get more reports on the above market click here to Buy The Report
Train Wire Harness Market Segmental Analysis
Global Train Wire Harness Market is segmented based on Component, Voltage, Material, Train Type, Application and region. Based on Component the market is segmented into Wire, Connector, Terminal, Others. Based on Material the Train Wire Harness Market is segmented into Aluminum, Copper, Others. Based on Voltage the Train Wire Harness Market is segmented into Low Voltage (Up to 1000V), Medium Voltage (1000V to 25kV), and High Voltage (25kV to 230 kV). Based on Train Type the Train Wire Harness Market is segmented into Metro Rail Transit/Monorail, Light Rail Transit, High-Speed Rail/Bullet Rail, Others. Based on Application the Train Wire Harness Market is segmented into HVAC Harness, Lighting Harness, Brake Harness, Engine Harness, Infotainment Harness, Transaction System Harness, Others. Based on region the global Train Wire Harness Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Train Wire Harness Market Analysis by Component
During the projected period, the Wire segment dominated global Train Wire Harness market in 2022. This is because a wider range of applications, like rail signal transmission and felicitating power supplies, are increasingly relying on wires. However, significant growth is anticipated for the terminal segment over the forecast period. Vehicles that are integrated with advanced safety systems, such as braking systems and immobilizers, utilize connectors that are found in Train wiring harnesses. The increasing development of cutting-edge technologies, such as safety features and driver assistance systems, is a major driver of rail terminal sales.
Global Train Wire Harness Market By Component, 2022 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Train Wire Harness Market Regional Insights
The Asia-Pacific region is anticipated to dominate the global market. Singapore, Malaysia, Indonesia, and Bangladesh are examples of developed and developing economies in the Asia-Pacific region. The market in these nations is anticipated to be driven by new rail projects for urban passenger transportation as well as the replacement and upkeep of the existing fleet.
The autonomous train market is anticipated to expand the most in Asia-Pacific, which has one of the world's largest rail networks. India, China, and Japan have some of the longest Train lines in the world. In addition, public transportation is very popular in these nations, such as India, where daily commuters frequently use the metro. As a result, the Train system has a significant impact on the economic growth of Asia-Pacific nations.
Global Train Wire Harness Market By Geography, 2022-2030
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Train Wire Harness Market Dynamics
Train Wire Harness Market Drivers
- In order to raise the standard of public transportation, more money is being put into the rail and transit sectors as a result of global urbanization and economic expansion. To improve their overall rail connectivity, the governments of a number of countries in the Asia-Pacific region, including China, Singapore, Malaysia, Thailand, and China, are implementing new rail projects and upgrading and expanding their existing rail infrastructures. Ridership in countries that operate high-speed rail (HSR) is rising in order to take advantage of improved transportation options, which is driving a significant increase in the use of HSR. The global HSR line is anticipated to reach more than 41,000 kilometers by 2025, according to the International Union of Trains (UIC). This growth rate is expected to be sped up in the coming years.
- For instance, China is building a high-speed rail network that will open in 2019 and span 420 kilometers between Nanchang and Guangzhou. The demand for wiring for locomotives and coaches will rise as a result of these rail projects, which is expected to drive the market for Train wiring harnesses directly.
- The median household income level in the United States increased by 6.8% in 2019 over 2018 as reported in the 2020 census report. The demand for personal mobility has increased, which has resulted in an increase in road traffic in major global cities. However, the inadequate infrastructure of the road network has resulted in an increase in traffic congestion and increased travel times in urban areas. In major urban areas around the world, the average time spent driving in traffic congestion in 2019 was 102 hours, with 21% of that time spent at peak times. To alleviate this issue, urban planners and local governments are integrating tramways and rapid transit networks with the existing city infrastructure.
Train Wire Harness Market Restraints
- Some of the factors that hinder the expansion of the market include the unpredictability of the prices of raw materials like copper, aluminum, and plastic. Additionally, the wiring system is susceptible to corrosion as a result of changes in the weather, and they are subjected to heavy loads, which may compromise their durability. This may result in numerous train system failures, causing downtime or delays that are anticipated to impede industry expansion.
Request Free Customization of this report to help us to meet your business objectives.
Train Wire Harness Market Competitive Landscape
The Furukawa Electric Co., Ltd., Leoni AG, Hitachi, Nexans, Prysmian Group, TE Connectivity Ltd., Samvardhana Motherson Automotive Systems Group B.V., General Cable, Taihan, NKT A/S, Huber-Suhner, LS Cable & System Ltd., and other market players are prominent players in the global Train wiring harness market globally. Due to the large number of players in the market, the global market for Train wiring harness is fragmented. New entrants will be able to take advantage of lucrative opportunities in the global market for Train wiring harnesses, which will help keep product offerings competitive and reduce prices. By providing loyalty programs and offering prices that are competitive, the global players are anticipated to improve their positions in the market. The Train wiring harness market is also populated by a number of relatively insignificant players.
Train Wire Harness Market Top Player’s Company Profiles
- Hitachi Metals Inc.
- Schleuniger
- Prysmian Group
- Samvardhana Motherson
- Furkawa Electric
- Komachine Co.
- APAR
- LECS (Lakshmi Electrical Control System Ltd)
- HUBER+SUHNER
- LEONI AG
- LS Cable & System Ltd.
- NKT A/S
- Taihan Electric Wire Co. Ltd.
- The Prysmian Group
Train Wire Harness Market Recent Developments
- In October 2023, UKB Electronics, India's leading electrical and electronics manufacturing company, received accreditation from the Research Design and Standards Organisation (RDSO) and Railway coach factories to supply several products to the Indian railways.
- In September 2022, the President Cyril Ramaphosa hailed the launch of a new harness wiring facility in KwaDukuza, northern KwaZulu-Natal, which has seen 4,000 jobs created, 70% of which are held by women
- In May 2021, The Bombardier electrical wiring business in Huehuetoca, Mexico, has been purchased by Motherson.
- In January 2022, BizLink purchased a significant portion of Leoni AG, a global provider of energy and data management solutions, services, and products. Consequently, Leoni AG's financial situation will greatly benefit from the concluded transaction.
- In September 2021, TE Connectivity, a market leader in sensors and connectivity, bought ERNI Group AG, a market leader in electronic connectivity. TE's capabilities in a wide range of connectivity will be enhanced by this acquisition, as will the company's customer base and market presence.
Train Wire Harness Key Market Trends
- The development of electrified trains has resulted in the development of the transportation industry as a whole, regardless of the mode of transportation, putting it ahead of road transport in terms of electric transportation. In the mining and heavy-haul industries, electric locomotives are seen as an alternative to diesel locomotives for long distances of up to 2000 kilometers or more.
- The growth of the market is anticipated to be aided by technological advancements and their integration with transportation systems, such as artificial intelligence and machine learning, during the forecasted period. This is due to the growing problem of traffic congestion in urban centers all over the world.
- Even though automation in the Train industry is still in its infancy, it is difficult for new businesses to enter the market and leaves major players in the field due to the large investments required for research and development of automation-capable equipment.
Train Wire Harness Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global tire wire harness market analysis, rising technological developments, energy efficiency, effectiveness, reliability, and quality of Train infrastructure and transport, the market is anticipated to experience significant growth over the forecast period. Additionally, the market expansion is anticipated to be aided by advancements in Train electrical and mechanical systems.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.84 billion |
| Market size value in 2031 | USD 2.92 billion |
| Growth Rate | 5.28% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Train Wire Harness Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Train Wire Harness Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Train Wire Harness Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Train Wire Harness Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Train Wire Harness Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Train Wire Harness Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
