Pune, India, June 10, 2021 (GLOBE NEWSWIRE) -- The global railway signalling system market size is expected to reach USD 11273.2 million by 2027, exhibiting a CAGR of 5.2% during the forecast period. The growing number of rail commuters coupled with the adoption of data analytics, internet of things, and cloud computing technologies will boost the market during the forecast period, states Fortune Business Insights, in a report, titled “Railway Signalling System Market Size, Share & COVID-19 Impact Analysis, By Technology Type (Automatic Train Protection System, Positive Train Control System, Communication-Based Train Control System, and Automatic Train Operation System), By Application Type (Inside the Station and Outside the Station), and Regional Forecast, 2020-2027.” The market size stood at USD 7493.0 million in 2019.
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COVID-19 Impact:
Restrictions on Travel to Dampen Business Amid Coronavirus
The coronavirus outbreak had an adverse impact on the transportation sector, which, in turn, hampered the railway signalling system market growth. The policies implemented by the governments and other guidelines to maintain social distancing and sanitation regulations have dramatically affected the production and consumption activities for many businesses. The halt on cross-border trades and travel restrictions during the lockdown has harshly affected the rail services industry. The temporary stop on rail services in several other countries has restricted the market growth. However, the high investment in railway infrastructure, new tracks, and freight corridors will create market opportunities. The need for proper maintenance, remote monitoring, and predictive maintenance technologies will enhance the global market's development in the forthcoming years.
Communication-based Train Control (CBTC) to Account for the Largest Share
Based on technology type, the market is classified into automatic train protection system (ATP), positive train control (PTC) system, communication-based train control (CBTC) system, and automatic train operation (ATO) system. The communication-based train control (CBTC) system segment is expected to hold the largest share in the global market. Communication-based train control (CBTC) is a railway signalling system that uses telecommunications between trains and track devices for infrastructure control and traffic management.
Based on the application type, the market is categorized into inside the station and outside the station. The inside the station segment holds the largest share in the global market. The signalling system is widely utilized inside the station as the station is where every train halts and departs.
Geographically, the market is divided into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
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The Report Includes?
This market research report precisely states minute and significant global market improvements in recent times. The report also offers a wide-ranging study fixated on emerging trends and new innovative products. Also, the robust research methodology involving primary interviews and desk research is all covered in the report. Besides, delivering a noteworthy overview to support emerging companies and strengthen their position.
High-Speed Railway Projects to Boost Market
The increasing railway passenger traffic, especially in high-speed railways, will have a tremendous impact on the market. The development of railway transportation safety is likely to spur opportunities for the market. The need for innovative solutions in the railway transportation ecosystem to meet the requirements for advanced services will spur demand for railway signalling systems in the foreseeable future. Advanced train control and signalling systems offer all the gears for monitoring and allowing safe operation of the rail network and use infrastructure capacity efficiently. Besides, the growing need to improve transportation infrastructure in developing countries will augur well for the market.
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Robust High-Speed Rails to Aid Growth in North America
The market size in North America stood at USD 3234.5 million in 2019. The growth is attributed to the well-established high-speed rails in the region. The advanced signal controlling systems in the US and Canada will foster growth in North America. The shift from traditional systems to advanced techniques will further aid expansion in the region. Europe is expected to hold the largest railway signalling system market share during the forecast period. The presence of prominent players, including Bombardier, Alstom, Siemens, Hitachi, and Thales will spur lucrative opportunities for the market. The expansion of railway networks in India will foster growth in Asia Pacific. The renovation of existing railway networks can further bolster the healthy development of the market in the region. China is one of the major contributors due to the Chinese companies such as CRCC, CRSC, and CREC.
Notable Development:
June 2020: Thales signed three urban signalling contracts to provide its SelTrac CBTC solution to the metro stations in China, South Korea, and Turkey.
The Report Lists the Key Companies in this Market:
- Alstom (Saint-Ouen, France)
- Hitachi Rail Limited (Tokyo, Japan)
- Thales Group (La Defense, France)
- Siemens Mobility (Munich, Germany)
- China Railway Signal and Communication Co, Ltd. (Beijing, China)
- Nippon Signal (Japan)
- MER MEC S.p.A. (Monopoli, Italy)
- Glarun Technology (China)
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Table Of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Railway Signalling System Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology Type
- Automatic Train Protection System
- Positive Train Control System
- Communication-Based Train Control System
- Automatic Train Operation System
- Market Analysis, Insights and Forecast – By Application Type
- Inside the Station
- Outside the Station
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Railway Signalling System Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Technology Type
- Automatic Train Protection System
- Positive Train Control System
- Communication-Based Train Control System
- Automatic Train Operation System
- Market Analysis – By Application Type
- Inside the Station
- Outside the Station
- Market Analysis – By Country
- U.S.
- Canada
- Mexico
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