Global Train Control and Management Systems Market is Estimated to Reach $5 Billion by 2025, Says Accurize Market Research
Global Train Control and Management Systems Market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2025; growing at a CAGR of 7.6% from 2017 to 2025. By geography, North America and Asia Pacific are expected to grow at a CAGR of 9.1% and 8.3%, respectively, during the forecast period.
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Rising demand for energy efficient rail systems to drive the market
Rapid urbanization, rise in demand for energy efficient rail systems, and increased demand for safe and comfortable transit solutions are the major factors driving the global train control and management systems market. However, unstable fuel prices and threats associated with train control systems would hamper the market growth in the coming years. Rising worldwide demand for high speed metros would provide several growth opportunities in the market during the forecast period.
The global train control and management system is split on the basis of train type, component, and train control solution. The train type segment is divided into metros & high speed trains, electric multiple units, and diesel multiple units. Component segment of train control and management market is further bifurcated into computer control units, modular input/output devices, mobile communication gateway, and human machine interfaces. By train control solution the market is segregated into positive train control, integrated train control, and communication based train control. On the basis of geography, the market is categorised into North America, Europe, Asia-Pacific and Rest of the World (RoW).
"Metro & high speed trains accounted for the largest market share in the train type segment", says Accurize
By train type, metros & high speed trains accounted for the largest market share in 2017, and are anticipated to continue its dominance during the forecast period, due to the increase inurban population and road traffic congestion which have increased the demand for rapid rail transit systems globally.
"Europe dominated the global market with the highest market share over the forecast period", says Accurize
Europe accounted for the largest market share of 35% in 2017, owing to increased development of trains equipped with TCMS systems.Following North America, Asia-Pacific is second largest market share of 27%. North America is expected to attain the fastest CAGR of 9% during the forecast period 2017-2025. The growth would be primarily driven by increasing investments in rapid rail transit projects in countries such as the U.S.
Top players in the market
Prominent companies active in this market include Bombardier Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Alstom SA, Siemens AG, Hitachi Ltd., EKE-Electronics, Strukton Rail, and Thales Group, among others.
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