CHICAGO, October 16, 2018
CHICAGO, October 16, 2018 /PRNewswire/ --
According to a 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 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 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 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.
Some prominent players of Overhead Catenary System Market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), and NKT (Denmark).
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