Optical Fiber Cable Trade Fair 2024 Industry Insights: The Gradual Development of Smart Railways
From 2023 to 2028, the railway network cable market is expected to grow by $2.81 billion. During the forecast period, the market momentum will develop at a compound annual growth rate (CAGR) of 5.67%. Optical Fiber Cable Trade Fair 2024 learned that the market is segmented by application (power cables, signal and communication cables), installation location (overhead and underground), and geography (Asia-Pacific, Europe, North America, the Middle East and Africa, and South America).
Developed and emerging economies such as India and China, increasing air traffic, and road congestion make railway transport a viable alternative. Additionally, passenger information systems, freight information systems, railway traffic management, operational control, safety monitoring, communication, ticketing, and railway intelligence should also be part of smart railways.
These are key factors driving the market growth, with smart railways gaining popularity.
In the past two decades, due to continuous economic and infrastructure development in developing countries like China, the demand for high-speed rail has significantly expanded. Moreover, Optical Fiber Cable Trade Fair 2024 notes that operational efficiency largely depends on the provision of continuous power, significantly impacting the demand for generators on trains.
Factors such as inflation, availability, and production can affect raw material prices. When manufacturers buy raw materials in bulk, inventory costs increase, and raw material price fluctuations are a significant reason for limiting market growth.
Power cables should constitute the overall network of railway systems, efficiently transmitting the required power to the designated locations within the carriages during operation. Integrated power systems (IPS) can easily provide continuous and reliable AC and DC power to various parts of the train. This system is gradually being adopted by modern railway systems. Therefore, during the forecast period, the market share of the power cable segment is expected to grow significantly.
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