Future Market Insights, in a new report, says that the market for locomotive pantographs in the United Kingdom is expected to grow at a rate of around 3.8% CAGR throughout the projected period (2023 to 2033). Germany, on the other hand, is poised to generate about 5.2% of the global revenue annually.
The global locomotive pantographs market is anticipated to be worth US$ 712.5 billion in 2033. As per Future Market Insights, Europe is expected to hold lion’s share in the global locomotive pantographs market.
Europe locomotive pantographs market is anticipated to witness substantial growth in the next ten years, as the development of metro trains and tram proposals are increasing across the region. Metro trains and trams are in use since the 19th century, but are currently being used frequently due to their high energy efficiency and cost-effectiveness.
Metro trains and trams further help to reduce the amount of emissions that are released into the atmosphere. This dramatic shift towards development of metro trains and tram proposals is projected to drive demand for locomotive pantographs across Europe.
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Metro train and tram projects require significant investments in terms of infrastructure, as well as innovative technological solutions. Pantographs are integral to these projects as they help operate electric trains and trams with power from overhead electrical lines. Pantographs are also used in diesel-electric locomotives, where they transfer energy from diesel engines to electric motors, and this factor is expected to propel demand.
Increasing focus on sustainability has been a crucial factor driving growth in the Europe locomotive pantographs market. Railways are increasingly investing in eco-friendly solutions that would help reduce their carbon footprint such as hybrid locomotives powered by both diesel and electricity. Pantographs play a vital role in these types of trains as they ensure that the electricity generated is transferred efficiently to electric motors.
Overall, development of metro trains and tram proposals will have a positive effect on Europe locomotive pantographs market. Increasing government investments in infrastructure and rail electrification projects, along with rapid shifts toward sustainable transportation systems, will lead to increased demand for advanced pantographs and other locomotive components.
For instance, in August 2020, in an effort to save operating costs while also aiding in the design optimization of upcoming electrification goods, Ricardo Rail unveiled a new service to boost the dynamic interaction between catenary systems and pantograph units. The company aims to save development costs with the help of this service.
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Key Takeaways from the Europe Locomotive Pantographs Market
- The global locomotive pantographs market is anticipated to be worth US$ 445.8 billion in 2023.
- The locomotive pantographs market is poised to expand at a steady CAGR of 4.8% throughout the forecast period.
- In the base year (2022), the locomotive pantographs market accounted for a valuation of around US$ 423.4 billion.
- High demand for metro trains and tram proposals is likely to boost sales of locomotive pantographs in Europe.
“Development of new technologies in the field of locomotive pantographs across Europe is projected to drive sales. Key companies are set to improvise on their existing product offerings by launching new features such as high alternating current power transmission and robust voltage transmission capacity,” says a lead analyst at Future Market Insights.
Competition Landscape in the Europe Locomotive Pantographs Market
Key companies in the Europe locomotive pantographs market are concentrating on expanding their portfolios to draw customer attention. These companies are also engaging in mergers and acquisitions with local players to introduce improved railway solutions.
Siemens Mobility, Hitachi, and Ricardo Rail are key companies in Europe locomotive pantographs market.
Recent Developments:
- In August 2021, the Ground Transportation Systems division of Thales announced that it will be acquired by Hitachi Rail. The final purchase price will be established following usual modifications necessary for a transaction of this kind. Owing to this collaboration, Hitachi Train anticipates accelerating development through a global expansion of its rail signaling systems business and introduction of an improved turnkey railway solution in new areas.
- In March 2021, Siemens Mobility announced the release of MoComp, a centralized and unified source that will, for initial time, show and make available to all customers a varied Siemens Mobility portfolio of rail vehicle components. For contemporary rail cars, MoComp will provide a full spectrum of electrical, mechanical, and system solutions. This comprises bogies, brakes, pantographs, propulsion systems, and onboard power sources.
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Key Segments
By Arm Type:
- Single Arm Pantograph
- Double Arm Pantograph
By Shape:
- Diamond Shape (For DC rakes)
- Bow Type (For both AC & DC)
By Train Type:
- High Speed Train
- Mainline Train
- Freight Train
- Metro Train
- Others
By Region:
- Europe
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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