Train Control and Management Systems Market to Reach US$ 5.78 Billion by 2031 With a 2.1% CAGR

The global train control and management systems market (列車制御および管理システム市場) is expected to see significant growth, creating an incremental opportunity of US$ 5.78 billion by 2031. This growth is driven by governments worldwide investing in railway infrastructure to improve travel times and reduce the cost of goods transit. For example, the U.S. is undertaking various rail infrastructure projects like the California High-speed Rail and the Second Avenue Subway. Train control and management systems are crucial for monitoring and controlling train sub-systems and functions, making them essential for modern rail infrastructures. Sales of these systems are projected to reach US$ 4.82 billion in 2022, with a CAGR of 2.1% during 2022-2031. The market is also benefiting from the introduction of novel trains such as vacuum tube trains and maglev trains, with countries like India planning to procure 400 new Vande Bharat trains between 2022 and 2023. Stringent regulations on passenger safety are also driving market growth.

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Key Takeaways:

The U.S. is expected to dominate the North America market due to increased railway construction projects.
The U.K. is anticipated to show strong growth in the Europe market, driven by a focus on safety and transportation system optimization.
India is poised to become a lucrative market, driven by investments in new train procurement.
The metros & high-speed trains segment is expected to hold the largest market share due to increased demand for fast railways.
The communication-based train control segment is projected to grow significantly due to its deployment in modern railway infrastructures.

Growth Drivers:

Increasing old railways infrastructure refurbishment activities across numerous countries and growing deployment of advanced train management systems are favoring the demand in the market.

Rising trend of electrification across the transportation sector and growing adoption of electric trains is expected to bolster the train control and management systems sales.

Restraints:

Extravagant cost of installation, high deployment complexities, and cost of maintenance are impeding sales of train control and management systems in the market.

Rising stringent regulations on the carbon emission will restrict the growth in the market.

Key Players:

ABB
General Electric
Hitachi Ltd.
Mitsubishi Electric Corporation
Alstom SA
Bombardier Inc.
MEN Mikro Elektronik GmbH
Siemens AG
DEUTA-WERKE GmbH
EKE Group
Strukton Rail
Toshiba Corporation
Thales Group

Competitive Landscape:

Major players in the train control and management systems market (열차 제어 및 관리 시스템 시장) are enhancing their offerings and employing new strategies to expand globally. For example:

In May 2021, Railinc, a provider of rail messaging and data services for freight railways in North America, rebranded its new business unit as TransmetriQ.

In January 2021, QuEST Global, a Singapore-based engineering and lifecycle services company, launched a new train control and management system laboratory in Hyderabad, India, to bolster its presence and revenue share in the Indian market.

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Key Segments of Train Control and Management Systems (Markt für Zugsteuerungs- und -managementsysteme) Industry Research

TCMS Market by Train Type :
Metros & High Speed Trains
Electric Multiple Units
Diesel Multiple Units

TCMS Market by Component :
Computer Control Units
Modular Input/output Devices
Mobile Communication Gateways
Human Machine Interfaces
Others

TCMS Market by Connectivity :
GSM-R
Wi-Fi
TETRA
Others

TCMS Market by Solution Type :
PTC (Positive Train Control) Systems
Communication-based Train Control (CBTC)
Integrated Train Control

TCMS Market by Region :
North America Train Control and Management Systems Market
Latin America Train Control and Management Systems Market
Europe Train Control and Management Systems Market
East Asia Train Control and Management Systems Market
South Asia & Oceania Train Control and Management Systems Market
MEA Train Control and Management Systems Market

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This release was published on openPR.