Bharat Book Bureau Provides the Trending Market Research Report on “Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, On-board Vehicle Control, Train Information & Train Safety), Transit Type, Application (Passenger & Freight Transportation), & Region - Global Forecast to 2027” under the Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The global Railway System Market is estimated to grow at a CAGR of 4.2%, from USD 25.1 billion in 2022 to USD 30.9 billion by 2027. High-speed trains are premium trains equipped with advanced features and connectivity solutions such as advanced electronic train control systems, video surveillance, passenger information display, and network video recorders. The adoption of these systems in high-speed trains will drive the market for railway systems. Thus, the increasing network of high-speed rail in emerging countries, as well as developed countries, provides an opportunity for the growth of the railway system market.
The world railway market has grown significantly in the last decade. Globally, the railway industry has witnessed incremental growth in the recent past. Several countries in Europe, Asia Pacific, and the Middle East have introduced high-speed rail projects to encourage rapid mass transit. The government authorities of countries such as France, Germany, China, India, and Saudi Arabia are pushing the growth of rail infrastructure to ease the increasing stress on current transportation. This development of the rail market and railway infrastructure will directly foster the growth of the railway system market
“Europe is expected to be the largest Railway system market for Passenger Train transportation during the forecast period.”
Most European rails are equipped with high-end technologies that include wireless radio connection, wireless data transmission, eco-friendly cars, and comfort features. However, the adoption of high-end technologies is lower in Eastern Europe compared to Western Europe countries such as the UK, Germany, France, and Spain. This offers railway system vendors an opportunity to increase their presence in Eastern Europe. The EU Railway’s target is to build 31,000 km of high-speed rail track by 2030. Furthermore, projects such as the European Rail Research Advisory Council (ERRAC), FP7 projects, Horizon 2020, and SHIFT2RAIL will boost the growth of the European railway system market.
“The train information system is expected to grow at a significant rate for the forecasted year.”
Train Information System (TIS) is a communication system used for providing information to passengers and enables two-way communication between passengers and operators. It is an electronically operated device that provides visual and acoustic information about the route, which is operated automatically and programmed manually. TIS can provide real-time tracking, route information on the go, travel planning, real-time arrival prediction systems, online connectivity solution. The onboard resources needed to host a variety of applications, including entertainment, passenger information, and passenger counting, are provided through edge computing (decentralized data management). The growing demand for connected and high-speed trains is propelling the demand for train information systems. Moreover, the advent of autonomous trains will act as a catalyst in the growth of the train information system market in the future.
“Japan is estimated to have significant market share in railway system market during the forecast period.”
Japan is a technology leader in the railway system market. The country is continuously investing in the development of innovative technologies in the railway system market. The Japanese railway system market is primarily driven by Shinkansen trains (high-speed trains). These trains are equipped with advanced systems for their operations. Japanese manufacturers offer one of the best train safety and train information systems. For instance, Toshiba provides train information control systems that incorporate extremely dependable CPUs and fast transmission technologies. These systems functionally combine high efficiency rolling stock equipment control, secure operation, and adequate passenger notification services. Furthermore, Toshiba offers integrated systems that communicate between rolling stock and the ground to provide information about operation and maintenance.
The study contains insights from various industry experts, ranging from component suppliers to tier I companies and OEMs.
The break-up of the primaries is as follows:
•By Company Type: Tier I: 27%, Tier II: 27%, OEM: 46%
•By Designation: C level: 32%, D level: 38%, Others: 30%
•By Region: Asia Pacific: 50%, Europe: 27%, North America: 15%, Rest of the World: 8%
Major players profiled in the report are:
•Thermo King (US)
•Knorr Bremse (Germany)
•Hyundai Rotem (South Korea)
•Mitsubishi Heavy Industries (Japan)
•Hitachi (South Korea)
The report segments the railway system market, by value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World), application (passenger transportation and freight transportation), system type (auxiliary power system, HVAC, propulsion system, onboard vehicle control, train information system, train safety system), and transit type (conventional and rapid). The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the railway system market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
•The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall railway system market and its subsegments.
•This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
•The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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