“The increasing demand for advanced technology and increasing railway projects are expected to drive the railway wiring harness market.”
The railway wiring harness market, in terms of value, is projected to grow at a CAGR of 8.61% from 2018 to 2025.The market is estimated to be USD 2.36 billion in 2018 and is projected to reach USD 4.21billionby 2025.Market growth can be attributed to the increasing adoption of electronic technology and increasing railway projects across the globe. 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 USD 2.9bn. However, issues related to the environment can restrain the growth of the market.
“Increasing number of high-speed rail/bullet train projects to drive
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