Railway Signaling System Market to Grow from $12.8 Billion in 2021 to $21.7 Billion by 2031 at 5.5% CAGR

According to a new report published by Allied Market Research, titled, "Railway Signaling System Market Size, Share, Competitive Landscape and Trend Analysis Report, by Offering, by Technology, by End Use : Global Opportunity Analysis and Industry Forecast, 2021-2031."

The railway signaling system market was valued at $12.8 billion in 2021, and is estimated to reach $21.7 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

Europe dominated the global railway signaling system market in 2021. The European Union (EU) has the largest electrified rail length in the world, and is considered one of the safest railway networks in the world, with around 218,000 km of active rail network. EU commission is committed to make its rail network more convenient for passengers by introducing various laws, along with collaborating with private industry players to advance current networks. Rapid urbanization in developing countries of Europe, increase in investment in development, and surge in fast & reliable railway network are some of the key factors driving the growth of the rail signaling system market in region.

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Rise in investments by government bodies and venture capitalists within the Europe railway signaling system market, coupled with collaborative approach of regional players is expected to support the market competitiveness during the forecast period. For instance, in December 2021, Siemens Mobility signed a contract with NMBS/SNCB, the Belgian National Railways to retrofit 390 trains and steering cars with European Train Control System (ETCS) Level 2 technology. Germany is promoting investment in high-speed railway projects, driving the demand for rail signaling systems in the country. For instance, in October 2020, German railway operator Deutsche Bahn announced to invest around $10 billion in enhancing its high-speed connections and expanding the dedicated train fleet. In addition, in January 2022, Alstom and Deutsche Bahn initiated testing of autonomous freight and passenger trains, which are to be introduced in Germany by 2023.

On the basis of end use, the global railway signaling system market has been segmented into mainline, urban, and freight. The urban segment is expected to experience significant growth during the forecast period. Urban rails and metros are connected with town or cities, which provide easy transportation for individuals. Urban rails require highly sensitive sensors and advanced signaling systems to operate within cities. Various supportive initiatives from government authorities to set up tram and metro infrastructure network is anticipated to create immense opportunities for the market expansion in the future. . In 2021, Siemens Mobility signed a contract to design, install and commission the first communications-based train control (CBTC) technology for the Malaysia and Singapore cross border link.

Significant factors that impact growth of the railway signaling system market comprise increase in government spending on railway projects, growth in demand for safety and compliance in rail transit, and increase in demand for passenger & freight capacity. However, factors such as lack of skilled staff and lack of technology infrastructure in developing countries are expected to hamper the market growth. Furthermore, adoption of autonomous trains and technological advancements in signaling systems are expected to create new growth opportunities for the railway signaling system market during the forecast period.

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Furthermore, governments of many countries are spending on latest technologies to enhance railway signaling systems and safety while decreasing train accidents. For instance, in June 2021, Indian railways planned an investment of $7.06 billion over the next five years in modernization of signaling and telecommunication systems to augment safety and capacity of the national transporter. Modernization will be in the areas of long-term evolution (LTE), optical fiber system, train collision avoidance system (TCAS), automatic block signaling (ABS), electronic interlocking (EI), and centralized traffic control. Thus, these supportive government initiatives offer lucrative opportunities for the market players during the forecast period.

COVID-19 Impact Analysis :

The outbreak of COVID-19 led to reduced demand for passenger and frieght rail services. However, post pandemic, several governments are focused on infrastructural development to enhance their rail efficiency and modernize rail infrastructure. For instance, in March 2022, Alstom SA won a contract to provide its Urbalis CBTC signaling system, along with 20 years of maintenance and 37 Metropolis trains to Santiago, Chile.

Key Findings Of The Study :

By offering, the services segment is anticipated to exhibit significant growth in the near future.

By technology, the communication-based train control system segment is anticipated to exhibit significant growth in the near future.

By end use, the urban segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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Key players operating in the global railway signaling system market include Alstom SA, Angelo Holding SRL (MERMEC S.p.A.), Belden Inc., Cisco Systems Inc., Hitachi Ltd. (Hitachi Rail), IBM Corporation, Huawei Technologies Co. Ltd., Nokia Corporation, Siemens AG, and Wabtec Corporation.

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