Anticipated Growth in Railway Electrification in Europe

Consulting company SCI Verkehr has presented a forecast for the development of the global railway electrification market until 2027, this is reported by the railway transport news portal, Railway Supply.

SCI Verkehr’s forecast indicates an expected growth in railway electrification in Europe. Experts predict an annual growth rate of up to 5% by 2027.

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Underfunding and delays in electrification projects provide a basis for accelerating the work.

The average level of electrification in Europe is approaching 50%, whereas in major railway networks in Asia, it exceeds 70%.

High costs and lengthy planning timelines hinder the expansion of railway networks in Europe.

Asia leads the global market due to the construction of new lines and investments in electrification.

However, a decrease in electrification rates is expected in India and China in the near future.

The global electrification market is currently estimated at a relatively low value, approximately 10 billion euros (2021-2023 on average), but its growth will continue due to activities in Asia and Europe.

This forecast underscores the importance of developing railway electrification in Europe, especially considering ambitious goals for decarbonizing transportation.

Railway Transport of Semi-Trailers

Accelerating electrification rates can contribute to carbon emission reduction and promote a more eco-friendly and sustainable transportation system.

However, successful implementation of these plans requires addressing financial and organizational challenges and expediting the planning and approval processes.

European countries, including Germany and the United Kingdom, need to focus on railway electrification to achieve their climate and environmental objectives in transportation.

Research and investments in electrification play a vital role in the development of sustainable transportation infrastructure, and this forecast highlights the necessity of accelerating these efforts in Europe.

Source: SCI Verkehr.

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