Global Autonomous Trains Market Size/Share Envisaged To Reach USD 19.33 Billion By 2032, at 5.2% CAGR Growth: Polaris Market Research

New York, NY, March 07, 2024 (GLOBE NEWSWIRE) -- The latest research report [115+] pages with 360-degree visibility, titled “Autonomous Train Market Share, Size, Trends, Industry Analysis Report, By Level of Automation (GoA 1, GoA 2, GoA3 & GoA 4); By Technology; By Component; By Train Type; By Application; By Region; Segment Forecast, 2024 - 2032" published by Polaris Market.

The global autonomous train market size and share is currently valued at USD 12.44 billion in 2023. It is anticipated to generate an estimated revenue of USD 19.33 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.2% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.

Market Definition

• What is an Autonomous Train? What is the Expected Size & Share of Autonomous Trains Market?

Autonomous trains, also known as driverless trains, operate without human interference and are watched from a control station. They are equipped with Automatic Train Protection (ATP), a train safety system that may stop at signals and regulate speed. The most advanced technology in the railway transport system is found in autonomous trains. These trains have on-board computer systems, GPS data, powerful cameras, and the newest sensors.

Moreover, compared to highways, railroads are the most effective and secure mode of transportation because there are fewer accidents reported. Train automation is shown to be more beneficial in terms of lowering the number of accidents and pollution, lessening the demand for fossil fuels, and improving efficiency, boosting the autonomous train market size. Because autonomous trains have train-to-train and train-to-server connections, which allows the trains to calculate the distance between each other precisely, they travel great distances in a lot less time.

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Autonomous Trains Market Key Companies

• ABB Ltd.
• Alstom SA
• American Equipment Company
• Beijing Traffic Control Technology
• Bombardier Transportation
• CRCC Corporation Limited
• General Electric
• Hitachi Rail STS
• Ingeteam Corporation SA
• Kawasaki Heavy Industries
• Mitsubishi Heavy Industries Ltd.
• Siemens AG
• Thales Group
• Wabtec Corporation

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Key Highlights

• The primary growth factor for the autonomous train industry is the increased demand for security, safety, and effective transportation.
• The autonomous train market analysis is mainly based on technology, level of automation, train type, component, application, and region.
• Asia Pacific region dominated the market with the largest market share in 2023.

Market Developments

Growth Drivers:

• Autonomous Technologies: With the increasing number of railways worldwide, there is a growing anticipation for autonomous technologies to enter the market, further fueling the autonomous train market growth. Furthermore, there should be plenty of opportunity for market expansion within the projected term. This is attributable to continuous advancements in railway infrastructure, especially in developing nations, which raise the general effectiveness and security of rail travel. The trend toward using trains for freight movement is also apparent, and this is anticipated to increase demand for autonomous train systems.

Industry Trends:

• Eco-Friendly Transportation: The market is expanding due to the growing demand for environmentally friendly transportation. Reducing reliance on fossil fuels, creating autonomous trains powered by renewable energy sources, and fostering a more sustainable and eco-friendly future are ways to meet this criteria.
• Robust Safety Systems: Strong safety mechanisms are always needed as train traffic continues to grow in the worldwide railway business. This trend is predicted to raise global railway expenditures, assisting in the growth of the autonomous train market share.

Restraints:

• Alternative Transportation Modes: In most cities, there is competition between different forms of transportation, like ride-hailing, bus transportation, ride-sharing, and rail transportation, as well as personal commuting. In order to improve capacity and dependability over conventional buses, the bus rapid transit (BRT) system prioritizes buses at intersections and has bus-only lanes on public roadways. This system also decreases delays and increases efficiency. The market for rail transportation is under pressure from this competitive environment.

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Segmentation Overview

• The CBTC Sector Grows at the Fastest CAGR

In contrast to conventional signaling systems, communication-based train control (CBTC) provides a more accurate train position by using telecommunications between track equipment and trains for traffic management and infrastructure regulation. This raises the efficiency and safety of railway traffic management, enabling metros and other rail systems to increase headways without compromising safety.

Also, trains equipped with contemporary CBTC systems compute and broadcast their position, speed, direction of travel, and stopping distance to wayside equipment continually throughout their path. This information can be used to calculate the potential occupancy area of the train on the track.

• The Camera Sector Holds the Largest Market Size

Trains must keep their tracks free in order to guarantee safety. Train operators can ensure clean entry to prevent accidents by using external cameras installed on the vehicles.

Additionally, they support pantograph monitoring, which is essential for trains that rely on overhead wires for power. This enables operators to pinpoint the origin and timing of any malfunctions. The demand for autonomous trains is growing in the camera category as a result of improvements in lens technology that improve safety and reduce accidents.

Autonomous Trains Market: Report Scope & Dynamics

Regional Insights

Asia Pacific: With some of the longest train lines found in nations like China, Japan, and India, Asia-Pacific is home to one of the greatest rail networks in the world. The popularity of public transit, particularly the metro system in India, for everyday commuting underscores the importance of the railway network to the region's economic growth.

Europe: Europe has one of the greatest rail networks in the world, and planned railway developments and advances are driving the opportunity for an autonomous train market. Many European nations, like Germany, have extensive networks of railway stations connecting cities and towns, demonstrating the popularity of trains over other forms of transportation, such as buses.

Browse the Detail Report “Autonomous Train Market Share, Size, Trends, Industry Analysis Report, By Level of Automation (GoA 1, GoA 2, GoA3 & GoA 4); By Technology; By Component; By Train Type; By Application; By Region; Segment Forecast, 2024 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/autonomous-train-market

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Key Questions Addressed in the Report:

• What are the projected size and growth rate of the autonomous train industry?

Ans: The global market size and share are currently valued at USD 12.44 billion in 2023 and are anticipated to generate an estimated revenue of USD 19.33 billion by 2032 at a robust 5.2% CAGR over the forecasted timeframe, 2024-2032.

• Which aspects are driving the market demand?

Ans: The primary factors driving the autonomous train market demand are the increased demand for security, safety, and effective transportation.

• Which region is expected to dominate the market?

Ans: The Asia Pacific region dominated the market with the largest market share in 2023.

• Who are the prominent players in the market?

Ans: The key players in the autonomous train market are ABB Ltd., Beijing Traffic Control Technology, Hitachi Rail STS, Mitsubishi Heavy Industries Ltd., and CRCC Corporation Limited.

Polaris Market Research has segmented the Autonomous Train market report based on level of automation, technology, component, train type, application, and region:

By Level of Automation Outlook

• GoA 1
• GoA 2
• GoA 3
• GoA 4

By Technology Outlook

• ATC
• CBTC
• PTC
• ERTMS

By Component Outlook

• Camera
• LiDAR
• RADAR
• Tachometer
• Doppler
• Antenna
• Accelerometer
• Radio Set
• Odometer

By Train Type Outlook

• Light Rail
• High-Speed Rail
• Monorail

By Application Outlook

• Passenger Train
• Freight Train

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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