LegalLaw247.com, September 06, 2019 ) Market Overview
• Some of the standards for wiring harness in railways such as IRIS, ISO 9001, ISO/TS 16949:2002 that focuses on quality management and ISO 14001 certificates for environment management system. This will help in producing high-quality rail cable harnesses and electromechanical modules.
• The increase in railway projects in the forecast period will boost the railway wiring harness market in the coming years.
• For instance, Dubai plans to undertake a five-stage extension of the Dubai Metro Red Line by 2020. The project cost is estimated to be around USD 2.9 billion. However, issues related to the environment can restrain the market growth.
• The global Railway wiring harness Market growth is due to the increasing adoption of electronic technology and increasing advanced railway projects across the globe.
• The increasing government investments in rail infrastructure and equipment is driving the global railway wiring harness market.
• For instance, The Chinese government has planned to expand infrastructure spending by USD 10 billion from the initial budget for 2018 by expanding existing projects, including the proposed railway line linking Sichuan Province and the Tibet Autonomous Region.
• By Material Type, the global Railway wiring harness market is segmented into aluminum, copper, and others. Aluminum has the dominant market due to its light weight coupled with easy maintenance. Thus the demand for aluminum-based harness wiring is expected to grow in the forecasting period globally.
• By Geography, Europe is dominating the global railway wiring harness market, and it is expected to grow in the forecasting period to 2026. Due to its largest production base of rail products, services, and high-tech rolling stock.
• The European railway industry is advancing its technology and upgrading its entire infrastructure with new and advanced connected technology, which will further drive the growth of railway wiring harness market.
By Harness Type
• HVAC Harness
• Lighting Harness
• Brake Harness
• Traction System Harness
• Engine Harness
By Cable Type
• Power Cable
• Transmission Cable
• Jumper Cable
By Material Type
• The increasing competitiveness and improving industry standards for the quality harness is boosting the global railway wiring harness market besides increasing the competition in the market regarding product offering.
• In March 2018, Aurangabad-based Dhoot Transmission, the second largest wiring harness manufacturer in India in the two-wheeler space, and the fourth in overall, has acquired Parkinson Harness Technology, UK, a leading manufacturer, supplying to a broad client-base across commercial vehicles, off-road vehicles, construction vehicles, railways, defense, and utility vehicles.
• Asia Pacific
• North America
• South America
• Rest of the World
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September 6, 2019 Posted By: admin
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