The Pantographs Market in North America is being driven by Growing number of contracts
The Pantographs Market in North America is expected to grow at a CAGR of 4.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 25.4 million. The pantographs market in North America is experiencing significant growth, driven by the increasing focus on high-speed rail development. Notably, the Biden-Harris Administration's USD6 billion investment in California's high-speed rail system, announced on December 5, 2023, is a testament to this trend. This investment, part of the Infrastructure Investment and Jobs Act, underscores the administration's commitment to modernizing transportation infrastructure. The California High-Speed Rail Authority will receive approximately USD3.1 billion for Central Valley construction, a crucial segment linking San Francisco and Los Angeles. This substantial funding injection is expected to boost the demand for pantographs in North America.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Single-arm pantographs, Double-arm pantographs) Application (Railways, Trams and light rail systems, Others) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Pantographs Market in North America Research Report
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The Pantographs Market in North America is witnessing significant growth due to the increasing adoption of rail networks and railway electrification. Overhead wires facilitate electrical power transfer to electric trains, contributing to emissions reduction and improved fuel economy. Capital-intensive electrification projects using Sic and IGBT modules in auxiliary power units are prioritized for eco-friendly transportation and railway infrastructure projects. Urbanization and short-distance commuting necessitate the development of lightweight pantographs for electric rolling stock. Infrastructure limitations and maintenance requirements are key challenges, while emissions reduction, energy security, and sustainable transportation remain key drivers. Electric locomotives and pantograph designs continue to evolve, addressing infrastructure limitations and reducing harmful emissions.
The Pantographs Market in North America is a segment of the larger electrical components and equipment market, which encompasses companies specializing in the production of rail networks, rail electrification, overhead wires, electric trains, and public transportation. This market size is determined by Technavio based on the consolidated revenue generated from the manufacturing of Sic modules, auxiliary power units, and various electrical components, including encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors are also taken into account in calculating the market size.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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