Railway System Market worth $35.3 billion by 2025

According to the new market research report "Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, Onboard Vehicle Control, Train Information & Train Safety), Transit Type (Conventional & Rapid), Application (Passenger & Freight Transportation),& Region- Global Forecast to 2025"published by MarketsandMarkets™, The global Baggage Handling System Market is projected to reach USD 13.7 billion by 2025 from USD 8.4 billion in 2018, at a CAGR of 7.28%.

The growing focus on improving air connectivity and the development of intermodal transport will drive the Baggage Handling System Market. Additionally, the rising smart city projects and the growing maritime industry are also expected to drive the demand for baggage handling systems. Factors such as complex architecture and high level of initial investments are restricting the growth of this market. However, an increase in passenger and cargo traffic with a limited airport space provides new growth opportunities for the market players.

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Browse and in-depth TOC on "Railway System Market"
38 - Tables
48 - Figures
139 - Pages

Passenger transportation, by application, is estimated to hold the largest market share during the forecast period

The major passenger transportation markets include countries such as Japan, India, China, and European countries. The increase in rapid transit systems equipped with the advanced train information system, auxiliary power units, and onboard vehicle control is driving railway system market. Moreover, to provide safety systems, the rolling stock vendors are introducing cameras, video recorders, passenger information displays, and public address system. The increase in these functions will boost the passenger transportation segment of the railway system market.

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A train information system is estimated to be the fastest growing segment, by system type, during the forecast period

The train information system market is estimated to be the fastest growing segment. A train information system is a communication system that provides information to passengers and enables two-way communication between passengers and operators. These communication systems are used in connected rails and high-speed trains for their efficient functioning.
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.

Europe to be the largest railway system market

The European railway system market is estimated to be the largest in 2019. The EU represents the biggest absolute market for rail products and services, with the railway system segment representing the largest part of this market. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transportation infrastructure is insufficient. The expansion of these networks is expected to drive the demand for new vehicles, which, in turn, will fuel the railway system market.

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The report analyzes all major players in the railway system market including CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), and ABB (Switzerland).

Browse Related Reports:

Rolling Stock Market by Product Type (Locomotives, Rapid Transit (DMU, EMU, Light Rail, Metro) Wagons, Coaches), Locomotive Propulsion (Diesel and Electric), Application (Passenger & Freight), Components, Technology & Region - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/rolling-stock-market-4380892.html

Autonomous Train Market by Level of Automation (GOA1, GOA2, GOA3, GOA4), Technology (CBTC, ERTMS, ATC, PTC), Application, Component (Antenna, Camera), Train Type (Metro, Light Rail, Bullet Train/HSR), Track Length, and Region - Global Forecast to 2030

https://www.marketsandmarkets.com/Market-Reports/autonomous-train-market-27451077.html

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