According to the new market research report "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", published by MarketsandMarkets™, 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.
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The continuous expansion of the rail network across the train type is a principal factor driving the growth of the overhead catenary system market. Countries like China, Japan, Germany, UK, France, and Canada among others have rigorously focused on improving rail transport to reduce the increasing strain on roadways and airways. As electric traction for the railways is proved to be the most energy efficient operation, the electrification of rail tracks is expected to expand exponentially in the coming years. Thus, the development of the rail industry and the expansion of electrified rail tracks would act as a catalyst to the growth of the overhead catenary system market.
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The overhead catenary system market for high-speed rail segment, by train type, is estimated to grow at the highest rate during the forecast period. It is projected to grow at a promising CAGR from 2018 to 2025. The high-velocity mobility of the high-speed trains with mass transit characteristics has provided a better and rapid public transport channel. The leading market players such as CRRC (China), Alstom (France), Siemens (Germany), and Bombardier (Canada) have come up with an advanced technology, which is highly capable of providing efficient transport services. Thus, the rail authorities of several countries are emphasizing on increasing high-speed rail transit.
The high voltage segment is expected to be the largest as well as the fastest growing segment of the overhead catenary system market, by voltage. The increase in the conventional intercity train fleet and the high-speed rail transit is the key factor driving the growth of the segment. The scarcity of fuel resulted in shifting toward electrified rail operation and getting rid of the diesel locomotives. The intercity train fleet and bullet trains operate on high voltage power transmission. Thus, the growth of train types would ultimately boost the growth of the high voltage overhead catenary system.
The simple catenary type segment is expected to be the largest growing segment of the overhead catenary system market, by catenary type. Presently, the largest market share of the operational train fleet is functioning over the simple type catenary system. This scenario is likely to remain the same during the forecast period. This is attributed to the fact that the majority of the proposed rail projects worldwide are expected to be operated on the simple catenary system because of fewer complications and an easy built-up structure.
The Asia Pacific region is projected to be the largest growing market for the overhead catenary system during the forecast period. The market growth in the region can be attributed to the rapid growth of the rail sector in countries such as China, Japan, South Korea, and India. Moreover, the mass rapid urban rail transit is gaining pace over the years, which, in turn, is boosting the growth of the overhead catenary system market. Many countries have started expanding the electrification of rail tracks to increase the electrified rail transport, which would trigger the growth of the overhead catenary system market in the region.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the in Overhead Catenary System Market. The key players in the market CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), and NKT (Denmark), ABB (Switzerland), Strukton (The Netherlands), TE Connectivity (Switzerland), Wabtec (US), and Lamifil (Belgium).
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