Global Railway Network Cables Market 2018-2022
About this market
Emergence of battery electric locomotives to drive growth in the market. A battery electric locomotive is an electrically driven railcar, which derives power (electricity) for traction from inbuilt rechargeable batteries. An advantage of battery electric locomotive is that it does not need to burn fossil fuel to generate power, thereby eliminating direct emissions, exhaust gases, noise, and fuel storage.
Technavio’s analysts have predicted that the railway network cables market will register a CAGR of close to 6% by 2022.
Smart railways gaining popularity
The rise in air traffic and congestion have made rail transport a feasible alternative, in both advanced and emerging economies such as India and China.
Growing popularity of low-cost airlines
railway operators and systems are facing increasing competition from low-cost airline especially in Europe and Asia, which is rapidly becoming a major challenge for the railway industry.
For the detailed list of factors that will drive and challenge the growth of the railway network cables market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including SAB Bröckskes and Tecnikabel the competitive environment is quite intense. Factors such as the rising popularity of smart railways and the emergence of battery electric locomotives, will provide considerable growth opportunities to railway network cables manufactures. Eland Cables, Hitachi Metals, NEXANS, Prysmian Group, SAB Bröckskes, and Tecnikabel are some of the major companies covered in this report.
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