The overhead catenary system market, by catenary type, is projected to grow at a CAGR of 9.09% during the forecast period, from an estimated market size of USD 25.53 billion in 2018 to USD 46.94 billion by 2025. 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 expansion of high-speed rail network across the globe is driving the overhead catenary system market. Along with this, the leading rail infrastructure developers are also adopting collaboration strategies with local rail authorities to install overhead lines for the electrification of railways. These factors are driving the growth of the overhead catenary system market globally.
Asia Pacific accounts for the largest market share in the overhead catenary system market, followed by Europe and the MEA region. The high reliability and safe power transmission through overhead lines makes it a more suitable transmission technique for the railways. China holds the maximum share of the Asia Pacific region for the overhead catenary system. Factors such as increasing high-speed rail network coupled with the expansion of electrified rail tracks have collectively boosted the demand for the overhead catenary system market.
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The leading players in the overhead catenary system market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), NKT (Denmark), Strukton (The Netherlands), and TE Connectivity (Switzerland). NKT is one of the major overhead catenary system suppliers and is engaged in providing services related to overhead lines for railway applications. In March 2017, the company acquired the ABB HV cables, which is likely to be a strong move to cater to the demands of the rail industry and gain a strong foothold in the overhead catenary system market.
Another important player in the overhead catenary system market is Lamifil (Belgium). The company is engaged in the development and production of components of the overhead catenary system. Primarily, this company operates in the manufacturing of overhead conductors, which includes catenary and contact wire for high & low voltage. It offers a complete range of high-quality overhead wires to energise the trains. It offers high capacity, increased efficiency, and environmentally friendly products for rail applications. In April 2018, the company had developed new High-Temperature Low-Sag (HTLS) conductors that address ice loading and capacity challenges at the same time. With this development, the company would gain a competitive advantage over its competitors in the overhead catenary system market.
The other major players in the overhead catenary system market are focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from the several collaborations and joint venture projects undertaken by these companies in recent years.
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
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