Railway Network Cables Market to grow by USD 2.81 billion from 2023 to 2028 | Smart railways gaining popularity to drive the growth- Technavio

NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The railway network cables market is expected to grow by USD 2.81 billion from 2023 to 2028. However, the growth momentum of the market will progress at a CAGR of 5.67% during the forecast period. The market is segmented by application (power cables, signal, and communication cables), installation sites (overhead and underground), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Smart railways gaining popularity is a key factor driving market growth. In both advanced and emerging economies like India and China, the growing air traffic as well as road congestion has made rail transport a viable alternative. Furthermore, passenger information systems, freight information systems, railway traffic management, operational control, security monitoring, communications, ticketing and rail intelligence shall also be part of the Smart Railway.

The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample Report

Key Highlights:

• The report recognizes the following as some of the key players in the railway network cables market: Aberdare Cables, Alma Srl, Baosheng Science and Technology Innovation Co. Ltd., Bhuwal Insulation Cable Pvt. Ltd., Caledonian Cables Ltd., Eaton Corp. Plc, Eland Cables Ltd., Hengtong Group Co. Ltd., Hitachi Ltd., HUBER PLUS SUHNER AG, Lapp Holding SE, Leoni AG, Nexans SA, Prysmian Spa, SAB BROCKSKES GmbH and Co. KG, Schwechater Kabelwerke GmbH, Siechem Technologies Pvt. Ltd., TE Connectivity Ltd., Tecnikabel SpA, and TPC Wire and Cable Corp.
• Railway Network Cables Market is fragmented in nature.
• Market to observe 5.24% YOY growth in 2024.

Market Dynamics:

Major Trend

• The emergence of a high-speed rail network is a major trend in the market.
• In the last twenty years, there has been a significant expansion of demand for high-speed rail due to growing economic and infrastructure development in developing countries such as China.
• Furthermore, the growth of that market is going to have a heavy impact on the demand for generators in these trains because operational efficiency depends heavily upon the provision of continuous power.

Significant Challenge

• The volatile raw materials price is a significant challenge restricting market growth.
• Several factors, like inflation, availability, and production, influence the prices of these raw materials.
• In addition, the cost of inventories increases for manufacturers when they buy raw materials in bulk.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The market share growth of the power cables segment will be significant during the forecast period. Power cables shall constitute an integral network of railway systems, in so far as they have the responsibility for transmitting the required power to the intended places within a coach when it is operated effectively and efficiently. Integrated power supply system (IPS), which makes it easier to provide continuous and reliable AC and DC electricity for individual parts of trains, is gradually being adopted by today's railway systems.

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Related Reports:

The railway wiring harness market size is estimated to grow by USD 443.29 million at a CAGR of 4.82% between 2023 and 2027. 

The light-emitting diode (LED) traffic signs and signals market is estimated to grow by USD 521.78 million at a CAGR of 9.1% between 2022 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Installation Sites

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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