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(I-AutoNewsWire.com, November 26, 2019 ) 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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The overhead catenary system is primarily used for energizing the trains. Thus, the growth of the rail industry would ultimately govern the growth of the overhead catenary system market.
Metros are primarily a part of the Mass Rapid Transit System (MRTS) and widely accepted across the globe as a transport channel. It is a more convenient, fast, comfortable, and an affordable mode of urban transport. It is known for its high capacity carriers and short travel duration, which are the key factors for the global implementation of the metro rail. Many metro projects are operating globally and successfully delivering transport services. In the developing countries, an increase in urbanization has led to the rise in the demand for transportation systems. This has led the governments to develop an infrastructure for MRTS. Thus, the development of MRTS would ultimately drive the growth of the overhead catenary system market.
Light rail comprises conventional intercity train fleet and trams that are presently being operated in many countries. The need for energy efficient transport has forced the urban planners to implement the electric operation of train fleet without affecting efficiency and reliability. Thus, the rail authorities of several countries have started expanding the electrification of rail tracks through overhead lines. This factor is contributing to the growth of the overhead catenary system market.
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.
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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?
The increasing acceptance of the third rail system for urban rail transit is a major factor restraining the growth of the market. Third rail has been developed to overcome the disadvantages associated with the overhead catenary system to electrify the rail track. A third rail system is an additional rail that is placed in between or alongside the rails of a railway track. The additional rail, which is also called as conductor rail, is a cost-effective method of rapid transit system with a high traffic density. Unlike overhead catenary system, the third rail system does not require structures to carry wires and over-bridge for clearances.
The key players in the market include CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), NKT (Denmark), ABB (Switzerland), Strukton (The Netherlands), TE Connectivity (Switzerland), Wabtec (US), and Lamifil (Belgium). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
Get Detail Insight @ https://www.marketsandmarkets.com/Market-Reports/overhead-catenary-system-market-264109804.html
Mr. Shelly Singh