Worldwide Rail Systems Industry Expected to Reach $30.9 Billion by 2027 - ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–“Global Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, Onboard Vehicle Control, Train Information and Train Safety), Transit Type, Application (Passenger & Freight) and Region – Forecast to 2027” report added ResearchAndMarkets.com’s Offering.

The global rail systems market is projected to grow at a CAGR of 4.2%, from USD 25.1 billion in 2022 to USD 30.9 billion by 2027.

Europe is expected to be the largest rail system market for passenger train transportation during the forecast period

Most European rails are equipped with advanced technologies that include wireless radio connectivity, wireless data transmission, environmentally friendly cars and comfort features. However, the use of advanced technologies is lower in Eastern Europe compared to countries in Western Europe such as the UK, Germany, France and Spain.

This gives rail system providers an opportunity to increase their presence in Eastern Europe. EU Railways’ goal is to build 31,000 km of high-speed rail by 2030. Furthermore, projects such as the European Rail Research Advisory Council (ERRAC), FP7 projects, Horizon 2020 and SHIFT2RAIL will increase the growth of the European rail system market.

The Train Information System is expected to grow at a significant rate for the forecast year

Train Information System (TIS) is a communication system used to provide information to passengers and enables two-way communication between passengers and operators. It is an electronically operated device that provides visual and acoustic information about the route, which is operated automatically and programmed manually. TIS can provide real-time tracking, on-the-go route information, travel planning, real-time arrival prediction systems, online connectivity solution.

The onboard resources needed to host a variety of applications, including entertainment, passenger information and passenger counting, are provided through edge computing. The growing demand for connected trains and high-speed trains is driving the demand for train information systems. Furthermore, the advent of autonomous trains will act as a catalyst in the growth of the train information system market in the future.

Japan is estimated to hold significant market share in the rail system market during the forecast period

Japan is a technology leader in the rail system market. The country continuously invests in the development of innovative technologies in the rail system market. The Japanese rail system market is driven primarily by Shinkansen (high-speed rail) trains. These trains are equipped with advanced systems for their operations. Japanese manufacturers offer one of the best train safety and train information systems.

For example, Toshiba supplies train information control systems that include extremely reliable CPUs and high-speed transmission technologies. These systems functionally combine highly efficient equipment control for rolling stock, safe operation and adequate passenger notification services. Furthermore, Toshiba offers integrated systems that communicate between rolling stock and the ground to provide information on operation and maintenance.

Market dynamics

Drivers

Increasing preference for public rail transport to reduce traffic congestion

Increasing demand for energy-efficient transport

Increasing penetration of emus

Refurbishment of existing rolling stock

Limitations

Capital intensive and high development complexes

Possibilities

Increasing railway projects worldwide

Public support for alternative fuel-powered rail operations

Emerging countries towards high-speed rail for rapid transit

Increased use of railways for industrial and mining activities

Challenges

High overhaul and maintenance costs

Companies mentioned

CRRC

Alstom

ABB

Knorr-Bremse

The thermo king

Siemens

Mitsubishi Heavy Industries

Toshiba

Hitachi

Construcciones Y Auxiliar De Ferrocarriles (Caf)

Structure

Woojin Industrial Systems

American Equipment Company

Ingeteam

Calamp

Sinara transport machines

Fuji Electric

Skoda Transport

Medcom

For more information on this report visit https://www.researchandmarkets.com/r/r1z1t2