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Overhead Catenary Sytem Market Set To Grow With Cagr Of 9.09%
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The overhead catenary system market, by catenary type, is estimated to be USD 25.53 billion in 2018 and is projected to reach a market size of USD 46.94 billion by 2025, growing at a CAGR of 9.09% during the forecast period. The overhead catenary system market for electrified track length in operation is projected to grow at a CAGR of 6.55% during the forecast period, from an estimated market size of 232.6 thousand miles in 2018 to 326.7 thousand miles by 2025.
Browse 37 market data Tables and 58 Figures spread through 153 Pages and in-depth TOC on "Overhead Catenary System Market by Catenary Wire (Simple, Stitched, Compound), Train (Metro, Light Rail, High-Speed Rail), Voltage (Low, High), Component (Catenary Wire, Dropper, Insulator, Cantilever), Material, Track & Region - Global Forecast to 2025"
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The major factors driving the growth of the overhead catenary system market are the expansion of high-speed rail network and electrified rail tracks for urban rail transit. The high voltage segment is estimated to hold the largest market share during the forecast period. The increasing development of high-speed rail transit in the Asia Pacific and European region is contributing to the growth of the overhead catenary system market. Also, the growing focus of urban planners to develop rail transport over other transportation mediums is majorly boosting the overhead catenary system market.
The simple catenary segment is estimated to be the largest growing market in the overhead catenary system market during the forecast period, by catenary type
The simple catenary segment is estimated to be the largest growing segment, by value as well as volume, of the overhead catenary system market during the forecast period. The development of a high number of proposed rail projects worldwide are likely to be electrified through the simple catenary system due to which the segment is governing the growth of the overhead catenary system market.
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The high voltage segment is estimated to be the fastest growing market in the overhead catenary market during the forecast period, by voltage
The high voltage segment is estimated to be the fastest growing because of the incremental expansion of conventional intercity train fleet as well as high-speed trains transit. This is attributed to the need for a reliable and safe mode of transport channel, which is gaining pace over the years. The high-speed train operates at a high voltage power due to its high-velocity mobility. Supplying the high voltage power to the train overhead lines is the most suitable method of electrification with utmost safety and reliability. Thus, the anticipated growth of high-speed train lines across the world would lead to the growth of the catenary system market.
The Middle East & Africa region is estimated to be the fastest growing overhead catenary system market
The Middle East & Africa region is projected to be the fastest growing overhead catenary system market during the forecast period. The market growth in the region can be attributed to the rapid growth of the rail transport in the countries such as Saudi Arabia and Egypt. Moreover, the growing need for energy efficient rail transport and safe electrification method for railways have boosted the demand for overhead lines, thus, driving the growth of the overhead catenary system market in the region.
The key players in the overhead catenary system market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), and NKT (Denmark).
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