Rockville, April 05, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: Sales in the global train control and management systems market are expected to create an incremental opportunity of US$ 5.78 Bn by the end of 2031.
Governments in various countries are emphasizing on strengthening their railway infrastructure to reduce the travel time and cost of goods transit. For instance, numerous rail infrastructure development projects are being constructed in the U.S. such as California High-speed Rail, Second Avenue Subway, and Red and Purple Line Modernization.
As train control and management systems are extensively used in rail infrastructures for enabling virtually monitoring and controlling train sub-systems & functions, such developments are estimated to favor the growth in the market.
Driven by this, sales of train control and management systems are projected to reach US$ 4.82 Bn in 2022, rising at a CAGR of 2.1% during the forecast period 2022-2031.
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Increasing introduction of novel trains, such as vacuum tube trains, and maglev trains across the globe. Many countries are purchasing and procuring new trains to increase their train fleet. For instance, India announced its plan of procuring 400 new Vande Bharat trains between 2022 and 2023.
This, in addition to growing implementation of stringent regulations regarding passenger safety is estimated to favor the growth in the global train control and management systems market.
Key Takeaways:
- The U.S. is estimated to account for the dominant share in the North America market, owing to the increasing number of railway construction projects in the country.
- The U.K. is anticipated to register robust growth in the Europe market, on account of growing emphasis on safety and optimization of transportation systems.
- India is forecast to emerge as a highly remunerative train control and management systems market, favored by growing investment for the procurement of new trains.
- On the basis of train type, the metros & high-speed trains segment is expected to account for the maximum share, on the back of surging demand for the fast railways worldwide.
- In terms of solution type, the communication-based train control segment is projected to exhibit robust growth, driven by rising deployment across modern railway infrastructures.
Growth Drivers:
- Increasing old railways infrastructure refurbishment activities across numerous countries and growing deployment of advanced train management systems are favoring the demand in the market.
- Rising trend of electrification across the transportation sector and growing adoption of electric trains is expected to bolster the train control and management systems sales.
Restraints:
- Extravagant cost of installation, high deployment complexities, and cost of maintenance are impeding sales of train control and management systems in the market.
- Rising stringent regulations on the carbon emission will restrict the growth in the market.
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| Report Attributes | Details |
| Train Control and Management Systems Market Size (2022) | US$ 4.82 Bn |
| Projected Year Value (2031F) | US$ 5.78 Bn |
| Global Market Growth Rate (2022-2031) | 2.1% CAGR |
| No. of Pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 227 Figures |
Competitive Landscape:
Key train control and management systems market players are focusing on providing better products & services and adopting new strategies to expand their business scope across the global market. For instance:
- In May 2021, Railinc, a rail messaging and data services provider for freight railway in North America, announced the rebranding of the companies new business unit as TransmetriQ.
- In January 2021, QuEST Global, a Singapore-based engineering and lifecycle services company announced launching a new a train control and management system laboratory in Hyderabad, India. This will assist the company to increase its revenue share across the India market.
Key Companies Profiled by Fact.MR
- ABB
- General Electric
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- Alstom SA
- Bombardier Inc.
- MEN Mikro Elektronik GmbH
- Siemens AG
- DEUTA-WERKE GmbH
- EKE Group
- Strukton Rail
- Toshiba Corporation
- Thales Group
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More Valuable Insights on Train Control and Management Systems Market
In the latest study, Fact.MR offers a detailed study on global train control and management systems market for the forecast period of 2022 to 2031. This study also highlights key drivers promoting the sales of train control and management systems through detailed segmentation as follows:
- TCMS Market by Train Type :
- Metros & High Speed Trains
- Electric Multiple Units
- Diesel Multiple Units
- TCMS Market by Component :
- Computer Control Units
- Modular Input/output Devices
- Mobile Communication Gateways
- Human Machine Interfaces
- Others
- TCMS Market by Connectivity :
- GSM-R
- Wi-Fi
- TETRA
- Others
- TCMS Market by Solution Type:
- PTC (Positive Train Control) Systems
- Communication-based Train Control (CBTC)
- Integrated Train Control
- TCMS Market by Region:
- North America Train Control and Management Systems Market
- Latin America Train Control and Management Systems Market
- Europe Train Control and Management Systems Market
- East Asia Train Control and Management Systems Market
- South Asia & Oceania Train Control and Management Systems Market
- MEA Train Control and Management Systems Market
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