Market value of train control management systems expected to
LOS ANGELES, July 5, 2021 (GLOBE NEWSWIRE) – The Global Automotive Switch Market is expected to grow at a CAGR of approximately 8.8% from 2020 to 2027 and reach a market value of over $ 5,623.5 million by 2027.
European region takes the lead in train control management systems
Since the railways of major European countries are equipped with advanced solutions such as train control and management systems, the European market represents significant revenue growth for players in the control and management systems market. trains. Siemens train control and management systems, for example, will be installed on the Hungarian railway line. This new signaling technology is expected to be operational by the end of 2020. In addition, another player in the train control and management systems market, Bombardier Transportation, has opened a new high-tech laboratory for rail technology and presented solutions for battery-powered trains in Mannheim. , Germany.
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Asia-Pacific to Record Fastest Growing CAGR for Train Control Management Systems Market
With nearly 40,000 km of rail projects under planning or development, the Asia-Pacific rail industry is one of the fastest growing markets in the world. This can be attributed to the rapid urbanization of the region as well as the digitization of rail. Passengers show a strong preference for advanced rail transport solutions that can deliver improved mobility while providing safety, comfort and environmental sustainability. Faced with growing consumer demand, government officials are making concerted efforts to digitally transform and modernize the regional rail network.
For example, the Indian government announced in 2015 that it would invest US $ 137 billion over the next five years in rail infrastructure and rail assets. Likewise, China has invested 456 billion dollars in extending its urban rail transport by 6,000 kilometers by 2020. These important efforts are having a positive impact on the business world.
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The global train control and management systems market is segmented into the type, component, connectivity and train control solutions market. The train type is segmented into subways and high speed trains, electric multiple units and diesel multiple units. Based on the component, the market is separated into vehicle control unit, mobile communication gateway, human machine interface and others. Additionally, connectivity is segmented into GSM-R, Wi-Fi, TETRA and others. The train control solutions segment is segmented into positive train control, communication based train control and integrated train control.
Growing demand for safe, more secure and efficient transport systems
According to statistics from the World Health Organization (WHO), road accidents are the leading cause of death among people aged 15 to 29, accounting for 1.25 million deaths each year due to road accidents. road. In addition, traffic accidents cause significant economic losses for individuals, their families and nations. As a result, the increased demand for safe, secure and efficient transportation systems contributes significantly to the growth of the global market. Rail transport is considered the safest and most cost-effective mode of transport, which has increased the demand for railways.
The most recent trains are equipped with cameras, sensors and communication devices. Additionally, in most places, these trains run underground or at ground level and are heavily secured by fences or walls to prevent intrusion, propelling market growth.
High infrastructure and maintenance cost associated with train control management systems market
The investment and maintenance costs of tracks, engineering structures such as bridges and tunnels, railway signaling, communication systems, power supply to electrified sections and terminal infrastructure are all important factors. significant costs for rail infrastructure. These infrastructure costs, combined with the costs of equipment, land acquisition and financing, act as a constraint on rolling stock.
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Key companies described in this report include Bombardier Inc., Siemens AG, Toshiba Corporation, Mitsubishi Electric Corporation, Hitachi Ltd., Knorr-Bremse AG, ALSTOM SA, and among others.
Some of the major observations regarding the Train Control Management Systems industry include:
- In 2015, Hitachi Ltd. announced its acquisition with AnsaldoBreda SpA (Italy). This strategic acquisition enabled Hitachi to strengthen its position in the signaling and traffic management systems markets.
- In January 2016, Alstom SA announced the signing of a supply agreement with the Indian company Kochi Metro Rail (KMRL) for the supply of 25 Made in India coaches. Alstom is supplying an initial fleet of 25 three-car Metropolis trainsets to KMRL under a $ 90 million contract awarded in October 2014, which also includes options for up to 25 additional trainsets.
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