Europe Catenary Maintenance Vehicles Market

Europe Catenary Maintenance Vehicles Market Forecast (2024 to 2029)

The growth of the Europe Catenary Maintenance Vehicles Market is anticipated to reach USD 273 Million in 2024 and USD 354 Million by 2029, growing at a CAGR of 5.2% from 2024 to 2029.

The catenary maintenance vehicles have been designed as multipurpose self-propelled units that are designed to perform catenary maintenance, refurbishment, and installation of new catenary lines with the help of the special tools that are installed on board. There can be either a bogie or axle configuration of the vehicle, as well as the main frame consisting of two cabins, whereas the equipment used varies according to the model: crane basket, crane with hook, or working platform.

Europe Catenary Maintenance Vehicles Market Drivers:

The rapid industrialization and advancement in technology in the European region are driving the growth of the Catenary Maintenance Vehicles market. The countries plan on reducing the emissions of various modes of transport and on moving towards a more electrified form of transport in the near future. Aside from that, to provide safe and comfortable travel to the people, it is essential that the catenary wires are inspected regularly, maintained, repaired, and overhauled in order to ensure that they are in good shape. This leads to the need for maintenance vehicles for the safety of workers.

Among the ten measures that Europe is using to showcase its mobility strategy, five of them are related to the rail industry in any way, shape, or form. It was the President of the European Commission who presented the road map for the Green Deal for Europe at the conference. There was an investment plan worth at least 750 billion euros planned for this green pact as part of its implementation. Public investment will be promoted, and private assets will be able to be released with the help of European financial instruments. As a result, the government also laid the groundwork for the electrification of railways, with the objective of completing the project by 2030.

Europe Catenary Maintenance Vehicles Market Restraints:

As a major component of the Catenary System of electrified lines, as well as the maintenance of railway infrastructure, which includes the primary component of Catenary system itself, railway infrastructure maintenance, involves very large budgets, and is difficult to coordinate among the different departments, and has various difficult planning challenges. These are key factors that are restraining the growth of the Catenary maintenance vehicles market.

Impact of COVID-19 on Europe Catenary Maintenance Vehicles Market:

Throughout the world, COVID-19 has caused a halt in manufacturing industries due to the pandemic. To curtail the spread of Coronavirus, some countries in the European region have issued stay-at-home instructions as a precaution. There were travel restrictions in place within the region as well as outside the region. There was a direct impact on the demand for Catenary Maintenance Vehicles as a result of this. Due to the fact that the railway industry is emerging from a challenging period, demand from them is essential for the market's growth to accelerate

This research report on the Europe catenary maintenance vehicles market has been segmented and sub-segmented into the following categories.

Europe Catenary Maintenance Vehicles Market - By Electric Line:

• Tramway Lines
• Electric Railway Lines

Electric Railway Lines is leading the Electric line segment in 2021 and is expected to grow at a high rate during the forecast period. Railway lines in the Europe region are approximately 60% electrified, and the region is rapidly working on expanding its electrification programs. The increase in Electric railway lines is driving the growth of the Catenary Maintenance Vehicles Market in the Europe region.

Tramway lines are also predicted to grow at a significant rate during the forecast period. The majority of the tramways and light rail systems in Europe are powered by electricity delivered via catenary or overhead contact wires. The regular inspection and maintenance of these catenary wires are driving the growth of this segment in the Catenary Maintenance Vehicles Market.

Europe Catenary Maintenance Vehicles Market - By Usage:

• Single Purpose Catenary Maintenance Vehicle
• Multi-purpose Catenary Maintenance Vehicle

Multipurpose catenary maintenance vehicles are leading the Electric line segment in 2021 and are expected to grow at a high rate during the forecast period. They are highly versatile vehicles and can be used by technicians to perform a wide variety of tasks. For example, maintaining and repairing catenary wires and electric wires on railways and tramways. In order to perform various tasks, such as adjusting, repairing, installing, and replacing the components of the catenary system, these vehicles are equipped with tools, storage areas, and other facilities.

Europe Catenary Maintenance Vehicles Market - By Application:

• Inspection
• Maintenance and Repair
• Overhaul

The application segment is further sub-segmented into inspection, maintenance and repair, and overhaul. In terms of market share, maintenance and repair topped the application segment in 2021. During the forecast period, maintenance and repair are forecast to grow rapidly. Catenary maintenance vehicles are mostly used by workers to safely repair any faults in the catenary wires. Because electrification on the European railways is increasing every year, there is an urgent need for the maintenance and repair of these catenary wires as soon as possible. This is in order to avoid accidents.

The inspection sub-segment is also expected to grow at a significant rate. A number of governments in the region have committed to investing in ensuring that the railway network operates in a safe manner. In addition to the regular inspections of the catenary wires, there will be a growing need to use Catenary Maintenance Vehicles to maintain them. This will contribute to the growth of this industry.

Europe Catenary Maintenance Vehicles Market - By Country Analysis:

• Germany
• France
• The U.K
• Italy
• Spain
• Ukraine
• Poland
• Switzerland
• Luxembourg

Based on the country segment, Germany is predicted to grow at a high rate during the forecast period. The growth in the railway industry in the country can be attributed to the large railway network and to the government's initiative to expand the rail system. This will enable the government to achieve the target of 100% electrification in the coming years. Due to the presence of several manufacturing units in the country, coupled with the factors mentioned above, the catenary maintenance vehicles market is expected to grow in the forecast period.

Switzerland is also expected to grow at a significant rate during the forecast period. This country was the first in Europe to achieve 100% electrification of railways. In order to maintain and repair the electric railway lines, the railway department has increased the consumption of catenary maintenance vehicles..

KEY MARKET PLAYERS:

Major Key Players in the Europe Catenary Maintenance Vehicles Market are Zwiehoff gmbh, Socofer, Hilton Kommunal GmbH, New Sorema Ferroviaria SPA, ZWEIWEG, Plasser & Theurer, Ferrovias Astur, S.A., TESMEC S.p.A, Harsco, and others.

RECENT HAPPENINGS IN THE MARKET:

• In September 2019, a seven-year framework agreement for the provision of up to 56 catenary maintenance vehicles to infrastructure manager DB Netz was signed by US-based rail manufacturer Harsco Rail for €250 million ($276 million). To provide industry-leading technology with superior execution capabilities and to build a strong supply chain, Harsco Rail has made substantial investments in Europe. These investments will allow the company to provide the most cutting-edge utility-track vehicles on the market. A contract worth $8 million has been signed between Elzel Elektrizace Zeleznic Praha and TESMEC Rail in Italy for the purchase of four rail cars for multipurpose catenary maintenance. There is no doubt that this will be an asset for the company in helping it develop a larger market for the high-quality maintenance vehicles for which it is famous.