Market Size of Railway Pantograph Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Railway Pantograph Market Analysis
The Railway Pantograph market was valued at USD 417 million in 2021 and is expected to reach USD 609 million in 2027 by registering a CAGR of around 4% during the forecast period (2022 - 2027).
The COVID-19 pandemic hindered the growth of market as shutdown of manufacturing units and lockdowns resulted in supply chain disruptions and reduced demand for rolling stock for the year 2020. However, post-pandemic as restrictions eased market anticipated to pick up pace during the forecast period.
Over the medium term, factors like rising urbanization and growing demand for electric locomotives coupled with ongoing rail infrastructure projects for effective short-distance commuting in congested and traffic roadways are anticipated to contribute to the overall development of the market over the forecast period. For instance, China plans to invest around CNY 2.2. trillion in its express and urban railway infrastructure by 2025 and has furthermore reported progress made in both investments and the overall expansion of its national rail infrastructure.
Further, with growing key players focus on designing new strategies especially by investing into latest technology and launching new products to increase their presence in the market. In addition, railway electrification likely to offer new opportunities for players operating in rail pantograph market over the forecast period as governments across the globe are pushing for more rail electrification to improve their energy security and clamp down on harmful emissions by Diesel engines.
Asia-Pacific region expected to hold significant share in the market owing to its vast railway network and favorable government initiatives to promote continuous upgradation of railinfrastructure across the country. Europe also likely to have notable growth during forecast period and its growth is expected to be supported by EU railway electrification targets and wider customer base ranging from intercity trains to freight trains.
