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Driver Assistance Systems For Locomotives Market to Grow at 4.6% CAGR, Reaching $11.17 Billion by 2029
Driver Assistance Systems For Locomotives
Driver Assistance Systems For Locomotives Market Outlook: How is the Market Expected to Grow by 2025?
The market size for driver assistance systems in locomotives has seen robust growth over the past few years. The market, which stands at $9.11 billion in 2024, is predicted to expand to $9.35 billion in 2025, with a compound annual growth rate (CAGR) of 2.6%. The past growth surge can be traced back to factors such as adherence to safety rules, risk reduction and accident prevention measures, demands for operational efficiency, elevated rail traffic, and heightened investments in railway infrastructure.
Driver Assistance Systems For Locomotives Market Forecast: What Size Will It Reach By 2029?
In the upcoming years, the market size of driver assistance systems for locomotives is predicted to witness substantial growth, expanding to $11.17 billion by 2029 at a compound annual growth rate (CAGR) of 4.6%. Factors contributing to this growth during the projected period include improved collision avoidance systems, concerns related to the environment and fuel efficiency, global compatibility and interoperability, evolution of regulatory structures, and autonomous train operation. The forecasted period is also likely to witness key trends such as automated train operation, incorporation of sensor and advanced analytics, train control based on communication, solutions for predictive maintenance, along with integration with positive train control.
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Which Key Market Drivers Will Shape Driver Assistance Systems For Locomotives Industry Trends in 2025-2029?
The anticipated growth of the driver assistance systems market is being stimulated by the increasing establishment of new metro networks in major cities. A metro train, populated by carriages for transporting people or wheeled cargo, has a railway locomotive connected to it. Among other benefits, the locomotive driver assistance system equips the driver with anticipatory information regarding track and terrain specifics. For example, the Australian Railway Association asserts that the construction activity for Australian railways rose by 2.2% to $10.73 billion in 2021-22. Additionally, Chinese railway corporation, the China State Railway Group Co., Ltd., predicts that by 2022, 4,100 kilometers of new railway lines will start operating in China, including 2,082 kilometers specially meant for high-speed tracks. Thus, the burgeoning construction of new metro networks propels the growth of the driver assistance system market for locomotives.
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What Are the High-Growth Segments in the Driver Assistance Systems For Locomotives Market?
The driver assistance systems for locomotives market covered in this report is segmented -
1) By Component: RADAR, LIDAR, Optical Sensor And Camera, Odometer, Infrared Sensor, Antenna, Other Components
2) By Train Type: Long Distance Train, Suburban, Tram, Monorail Subway Or Metro
3) By Application: Emergency Braking, Automatic Door Open And Closure, Switch Detection, Rail Detection, Fog Pilot Assistance System, Rail Signal Detection, Anti Collision System
Subsegments:
1) By RADAR: Short-Range RADAR, Long-Range RADAR
2) By LIDAR: 2D LIDAR, 3D LIDAR
3) By Optical Sensor And Camera: Video Cameras, Imaging Sensors
4) By Odometer: Mechanical Odometer, Electronic Odometer
5) By Infrared Sensor: Active Infrared Sensors, Passive Infrared Sensors
6) By Antenna: GPS Antenna, Communication Antenna
7) By Other Components: Control Units, Communication Interfaces
Which Global Trends Are Driving Driver Assistance Systems For Locomotives Market Expansion?
The key trend gaining traction in the locomotive driver assistance system market is technological innovations. Major firms in this marketplace are pioneering new technologies to fortify their standing. For example, in August 2024, Bosch Engineering, a Germany-based firm specializing in client-specific solutions for electronic systems, introduced the Rail Forward Assist. This initiative from Bosch Engineering aims to enhance safety in railway transport by reducing the risk of accidents. Equipped with a control unit and various sensors for ongoing area monitoring in front of the train, this modular assistance system is tailored to the specific application, including the potential use of camera, radar, LiDAR, and ultrasonic modules.
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Who Are the Fastest-Growing Companies in the Driver Assistance Systems For Locomotives Industry?
Major companies operating in the driver assistance systems for locomotives market include Thales Group, Alstom S A, Hitachi Ltd., Siemens AG, Mitsubishi Electric Corporation, Kawasaki Heavy Industries Ltd., ABB Ltd., Construcciones y Auxiliar de Ferrocarriles S A, Beijing Traffic Control Technology Co. Ltd., Wabtec Corporation, Stadler Rail AG, Robert Bosch GmbH, Knorr-Bremse AG, Johnson Electric Holdings Limited, SHW AG, Pierburg GmbH, The FTE automotive Group, Voith GmbH & Co. KGaA, ZF Friedrichshafen AG, Honeywell International Inc., Continental AG
What Is the Regional Outlook for the Driver Assistance Systems For Locomotives Market by 2029?
North America was the largest region in the driver assistance systems for locomotives market in 2024. The regions covered in the driver assistance systems for locomotives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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