The Overhead Catenary System Market was valued at USD 21.85 billion in 2017 and is projected to reach USD 46.94 billion by 2025, 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.
The overhead catenary system acts as the contact line technique for the transmission of electrical power to the trains. It is also called overhead lines equipment, overhead contact system, and overhead wiring in the rail industry. Thus, the combination of pantograph and catenary system is responsible for transferring electrical power to the train for its operation at varying speeds. The major characteristics of the system are its reliability and safety for the transmission of power supply. The overhead catenary system market is expanding with the development of the rail industry worldwide. In this study, 2017 has been considered the base year, and 2018 to 2025, the forecast period for estimating the market size of the overhead catenary system market.
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Expansion of high-speed rail network and adoption of electric rapid rail transit would drive the global overhead catenary system demand to approximately USD 46.94 billion by 2025
Several countries of Europe, Asia Pacific, and the Middle East have introduced high-speed rail projects to encourage mass rapid transit. The rail authorities of countries have developed high-speed train projects just after its introduction in the rail industry. The development of rail infrastructure indirectly fosters the growth of the overhead catenary system market. The acceptance of high-speed trains is anticipated to rise in the near future due to the prospects of economic growth created by the development of high-speed rails. As the high-speed rail is operated purely with electric propulsion, the overhead catenary system market is anticipated to grow in the coming years.
Many emerging countries as well as developed countries are focusing on expanding their rail network for a better standard of living and economic growth. Moreover, urban rail transit such as metro and trams have emerged as reliable modes of city transport. Many urban rail projects are currently in the pipeline and are due for completion in the coming years. Several major rail companies are working on the enhancement of the power transmission technology across the globe. The respective rail authorities of the countries have implemented the use of the overhead catenary systems for the operation of the metro rail transit.
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Critical questions the report answers:
Where will the urban rail transit developments take the overhead catenary system industry in the mid to long term?
How does hydrogen power pose a threat to the overhead catenary system in the coming years?
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