Global Railway Overhead Catenary System Market Overview
The Railway Overhead Catenary System is an overhead wired system used to run electric trains. It is used to supply electricity fed by a transformer to the trains equipped with a pantograph. With the increasing preference towards electrification of railways to replace the conventional diesel engines over the last 10-15 years, there has been an extensive demand for the railway overhead catenary system market.
With growing urbanisation, increase in reliance on railways for passenger and freight activities and the need for eco-friendly energy efficient transport the railway overhead catenary system market is expected to have a promising future.
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Growing consciousness about the environmental impact of diesel engines has led many countries to switch to electrical engines like India who has recently undertaken electric train projects to setup a local transportation network within its major cities.
Hence, resulting in further growth of the railway overhead catenary system market. The economic slowdown currently being observed across the globe has had an impact on the railway overhead catenary system market but there is relative optimism about the future growth of the market.
Asia and North America to be the Major Contributors in the Global Railway Overhead Catenary System Market
The railway overhead catenary system market has a significant presence in the Asia Pacific region. Countries like China, India and Japan appear to be the most influential nations for the railway overhead catenary system market owing to demand for intercity mobility.
The railway overhead catenary system market in North America is expected to witness substantial growth with the introduction of various electrical rail projects like the Amtrak’s Northeast corridor upgrade project which is a fully electrified railway line project stretching from Boston to Washington DC.
Stringent government regulations for emission control in the European region has resulted in the growth of electrified rail transport ultimately impacting the railway overhead catenary system market growth.
Latin America, Middle East and African region also promise to have a substantial growth in the railway overhead catenary system market over the coming years owing to the need for better transport infrastructure. The major manufacturing countries for the railway overhead catenary system market are China, France, Germany, Switzerland, USA and Canada.
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COVID19 to Hamper the Availability of Parts, Affecting the Production
Railway overhead catenary system market manufacturing is prominent in China and European countries. With the emergence of the COVID-19 pandemic, the European manufacturing units of the railway overhead catenary system market are badly hit and hence the supply chain has broken down.
Major components needed to assemble the OCS are scarcely available which in turn, might slow down the railway overhead catenary system market growth concerning technology. The losses incurred during the lockdown period due to the obvious drop in demand for passenger trains may affect the investment in electrification projects further affecting the railway overhead catenary system market. The Chinese manufacturing units although are still functional and have been working on new technologies to be used in the railway overhead catenary system market.
Mergers and Acquisitions to be the Key Strategy for Growth
The railway overhead catenary system market appears to be an oligopolistic market with very few players. These competitors are engaged in manufacturing durable, relatively low-maintenance and cost-effective catenary systems with the use of high-tech cables for gaining competitive advantage over their rivals in the railway overhead catenary system market.
There has been a significant effort to enter into mergers in order to edge past the competitors in the railway overhead catenary system market. The recent merger in the railway overhead catenary system market between Alstom and Bombardier and the NKT cables takeover of ABB high voltage cables is seen as a major step to withstand competition from the Chinese giant CRRC which was also formed as a result of a merger between CSR Corp Ltd. And China CNR. The important players in the railway overhead catenary system market are Alstom, Siemens, NKT, CRRC, Pfisterer, LS Cable and System, TE Connectivity, Kummler Matter, Galland, Sarkuysan, Eland Cables and Lamifil.
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The research report presents a comprehensive assessment of the railway overhead catenary system market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated data.
It also contains projections using a suitable set of assumptions and methodologies. The railway overhead catenary system market report provides analysis and information according to market segments such as product type, size, and end-use industries.
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