Railway System Market by System Type (Train Information & Train Safety, HVAC, Propulsion, On-board Vehicle Control), Application, Transit Type & Region

The global Railway System Market is projected to reach $35.3 billion by 2025, at a CAGR of 5.2%.

The growing demand for public transport and the increasing need for energy-efficient transport are some of the key drivers for the growth of the railway system market.

Opportunities:

1. Increasing Railway Projects Across the Globe
2. the Inclination of Emerging Countries Toward High-Speed Rail for Rapid Transit
3. Increase in the Use of Railways for Industrial and Mining Activities

The key players in the railway system market are CRRC (China), Bombardier (Canada), Alstom (France), ABB (Switzerland), Siemens (Germany), General Electric (US), Hyundai Rotem (South Korea), Mitsubishi Heavy Industries (Japan), and Toshiba (Japan).

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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 future.

The rapid transit segment is expected to be the largest contributor to the railway system market, by transit type, during the forecast period.

The current limitations of transport infrastructure in developed as well as developing economies have fueled the development of new and existing rail lines. Increasing traffic and growing population in urban areas have boosted the demand for eco-friendly transit options from commuters and governments. In metropolises, the expansion of existing urban transit networks has generated demand for new vehicles which is fueling the demand for rapid transit. The vehicle fleet is larger in developed countries of Western Europe, while demand is expected to be higher in emerging economies such as China, Brazil, and India, where new infrastructure projects are being launched. These rapid transit vehicles are modern vehicles equipped with advanced safety and information systems. Moreover, the majority of these transit vehicles have HVAC systems as well.

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Freight transportation is expected to be the fastest-growing segment in the railway system market, by application, during the forecast period.

The freight transportation segment is expected to be the fastest-growing market during the forecast period. The main factors driving the market include globalization and rapid changes in the rolling stock manufacturing industry. Moreover, increasing cargo turnover between China and Europe is fueling the market.

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.

Key questions addressed in the report:

1. Where will all the development in the field of railway systems take the railway industry in the mid-to long term?
2. How will the increasing adoption of high-speed trains and government safety norms impact the railway system market?
3. What are the new application areas of railway systems?
4. Which are the key players in the market and how intense is the competition?
5. How will the advent of autonomous and connected trains impact the market?

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