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(Wireless-NewsWire.Com, September 24, 2019 ) The Train control systems market is estimated to be USD 2.26 Billion in 2016 and is projected to reach USD 3.58 Billion by 2022, at a CAGR of 8.02%.
Public transportation offers a range of benefits over private conveyance due to rising concerns about greenhouse gas emissions, fluctuating fuel prices, and traffic congestion. The increasing demand for a high-speed rail transit network is expected to boost the market for train control systems. The global market is also driven by the growing population and urbanization in developing countries such as India and China and the increasing availability of high-speed communication systems. Further, train control systems increase the efficiency and reliability of trains and shorten their response time by automating the operations of the train and its subsystem and passenger safety. These factors are expected to drive the global market during the forecast period.
The train control systems market ecosystem consists of manufacturers such as Bombardier Inc. (Canada), Siemens AG (Germany), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Ltd. (Japan), Knorr-Bremse AG (Germany), Alstom SA (France), CAF Group (Spain), ABB (Switzerland), Thales Group (France), ASELSAN A.ª (Turkey), DEUTA-WERKE GmbH (Germany), Rockwell Collins (US), MEN Mikro Elektronik GmbH (Germany), Eke Group (Finland), Strukton Rail (Netherland), CRSC (China), HUBER+SUHNER (Denmark), Wabtec Corporation (US), Quester Tangent (Canada), Medha Servo Drives Private Limited (India), UniControls a.s. (US), Leroy Automation (France), Amaronia Rail Ltd. (Finland), and Tech Mahindra (India).
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The global market is segmented by component into the vehicle control unit, mobile communication gateway, human-machine interface, and others. The mobile communication gateway segment is projected to grow at the fastest rate during the forecast period. The demand for automation and fastest connectivity is increasing in the railway industry, which in turn is expected to drive the market for mobile communication gateway during the forecast period. Furthermore, the mobile communication gateway market is expected to be driven by the growing demand for new communication technologies such as LTE-R and satellite.
The global market is segmented by train type into metros & high-speed trains, EMU, and DMU. The metros & high-speed trains segment is estimated to account for the largest market share in the market during the forecast period. The increasing government activities to enhance the high-speed rail network and fulfill the transportation gap in countries such as the UK, France, India, China, and South Korea are expected to drive the metros & high-speed trains segment in the global market.
The global market is segmented by connectivity into GSM-R, TETRA, Wi-Fi, and others. The GSM-R segment is estimated to be the largest market during the forecast period. Factors such as ease of installation, availability of communication infrastructure, ability to fulfill technical requirements for interoperability and standard communication gateway for systems such as ERTMS Level 2 & Level 3, as well as China Train control systems (CTCS) are expected to drive the global market during the forecast period.
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The study also segments the train control solution market by type into Communication Based Train Control (CBTC), Positive Train Control (PTC), and Integrated Train Control (ITC). The ITC segment is projected to grow at the fastest rate during the forecast period due to its advanced functioning. As ITC solution is in the introduction stage of the product life cycle, it is expected to grow rapidly, which in turn would drive the ITC market during the forecast period.
The US accounts for a major market share of the train control systems. While the installation rate is high, the demand for train control systems is expected to rise with the increasing penetration of metros & high-speed trains. Thus, the North American region is estimated to be the fastest-growing market for train control systems by 2022. The North American market is primarily driven by the demand in the US and Canada. The growing rail networks for freight transport and high-speed passenger transport are expected to support its economic growth as a preferred mode of transport.
Target Audience:
*Equity research firms
*Investment firms
*Private equity firms
*Rail associations
*Rail operators
*Railway signaling specialists
*Rolling stock manufacturers
*Train control system manufacturers
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MarketsandMarkets™
Mr. Shelly Singh
1-888-600-6441
newsletter@marketsandmarkets.com
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