Global Subway Vehicle Market to Soar: Sustainability and Technological Innovations Lead the Way

Subway Vehicle Market

Rapid transit or mass rapid transit (MRT), also known as heavy rail, metro, subway, tube, U-Bahn or underground, is a type of high-capacity public transport generally found in urban areas. Unlike buses or trams, rapid transit systems are electric railways that operate on an exclusive right-of-way, which cannot be accessed by pedestrians or other vehicles of any sort,[4] and which is often grade separated in tunnels or on elevated railways.

Modern service on rapid transit systems are provided on designated lines between stations typically using electric multiple units on rail tracks, although some systems use guided rubber tires, magnetic levitation, or monorail. The stations typically have high platforms, without steps inside the trains, requiring custom-made trains in order to minimize gaps between train and platform. They are typically integrated with other public transport and often operated by the same public transport authorities. However, some rapid transit systems have at-grade intersections between a rapid transit line and a road or between two rapid transit lines.

The global Subway Vehicle market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.

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Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.

Major Trends:

Sustainability in Urban Mobility: Cities are emphasizing low-emission solutions, making electric and hybrid subway vehicles increasingly popular.

Technological Innovations: Advancements like AI integration, real-time monitoring, and autonomous driving systems are reshaping subway vehicle design and operations.
Increased Investments in Urban Infrastructure: Governments worldwide are investing heavily in metro rail systems to combat traffic congestion and promote sustainable urban transport.

Customization for Regional Needs: Manufacturers are tailoring designs to suit specific urban requirements, such as capacity, speed, and operational efficiency.

Enhanced Passenger Experience: Focus on features like noise reduction, ergonomic designs, and improved safety systems.

Major Challenges:

High Initial Investment: Developing and deploying advanced subway systems require significant capital, which may deter some regions.

Maintenance Complexity: The integration of sophisticated technologies increases the complexity and costs of maintenance.

By Type
• Capacity: 0-100 People
• Capacity: 100-200 People
• Capacity: 200-300 People
• Capacity: more than 300 People

By Application
• Large City
• Medium-sized City
• Small City

Key Companies
CRRC Corporation Limited, Knorr-Bremse, Bombardier, Alstom, Siemens, Mitsubishi, PKC Group, Progress Rail Services, Promtractor-Vagon CJSC, SCG Solutions, Sinara Transport Machines, Skoda Transportation, Hyundai Rotem, Inekon Trams, US Railcar

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This release was published on openPR.