Chicago, June 29, 2023 (GLOBE NEWSWIRE) — Railway Wiring Harness Market is estimated to be USD 1.5 billion in 2021 and is projected to reach USD 1.9 billion by 2026, at a CAGR of 4.6% during the forecast period, according to a new report by MarketsandMarkets™.
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157 – Tables
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| Report Attributes | Details |
| Market size value in 2021: | USD 1.5 billion |
| Projected to reach 2026: | USD 1.9 billion |
| CAGR: | 4.6% |
| Base Year Considered: | 2020 |
| Forecast Period: | 2021-2026 |
| Largest Market: | Asia Pacific |
| Region Covered: | Asia Pacific, North America, Europe, and RoW |
| Segments Covered: | Train type, application, component, cable type, voltage, Wire Length, end use and Region |
| Companies Covered: | Hitachi Ltd. (Japan), Prysmian Group (Italy), TE Connectivity (Switzerland), Leoni (Germany), and Nexans (France) |
| A total of 25 major company profiles covered and provided |
The market is principally driven by the increasing rail projects, government investment in railways, increase in rail network length, adoption of metro and high-speed rail. For example, in December 2019, Deutsche Bank announced plans to invest USD 12.6 billion for new trains by 2026. In October 2020, Turkey announced the expansion of its railway network to 16,675 km by 2023 from 12,803 km in 2020. In February 2020, the European Investment Bank allocated USD 1,081.3 million for European rail projects for a variety of rail fleets. In 2019, Russia planned to invest USD 2.70 billion in the development of railway infrastructure to increase freight container volume by 2024. Asia Pacific region is estimated to hold the largest market share of 49.7%, by value, in 2021, followed by Europe with 30.3%, and North America with 8.7%.
The Asia Pacific region is the largest and the fastest-growing region due to the increasing…
