Expansion of the modern train fleet to increase the demand for train control and management systems by 1.9 times by 2031
NEW YORK, May 18, 2022 /PRNewswire/ — In the latest study, Fact.MR provides an in-depth analysis of the train control and management systems market from 2022 to 2031. The survey also reveals key factors such as recent developments, opportunities, drivers influencing market growth across several segments including train type, component, connectivity and solution type .
Fact.MR – A market research and competitive intelligence provider: Sales in the global train control and management systems market are expected to create additional opportunity for US$5.78 billion by the end of 2031.
Governments of various countries are emphasizing on strengthening their rail infrastructure to reduce the travel time and cost of transiting goods. For example, many railway infrastructure development projects are under construction in the United States, such as California High-speed Rail, Second Avenue Subway, and Red and Purple Line Modernization.
As train control and management systems are widely used in railway infrastructure to enable virtual monitoring and control of train subsystems and functions, such developments are expected to drive the market growth.
Thanks to this, sales of train control and management systems are expected to reach US$4.82 billion in 2022, increasing at a CAGR of 2.1% over the forecast period 2022-2031.
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Increasing introduction of new trains, such as vacuum tube trains and maglev trains across the world. Many countries buy and procure new trains to increase their railway fleet. For example, India announced its intention to acquire 400 new Vande Bharat trains between 2022 and 2023.
This, in addition to the growing implementation of stringent passenger safety regulations, is expected to drive the growth of the global train control and management systems market.
Estimated annual value (2022E)
Projected annual value (2031F)
World growth rate (2022-2031)
Key points to remember:
- It is estimated that the United States represents the dominant share in the North America market, due to the growing number of railway construction projects in the country.
- The UK is expected to record robust growth in the Europe market, due to the growing importance attached to the safety and optimization of transport systems.
- India should emerge as a very profitable market for train control and management systems, favored by increasing investments for the acquisition of new trains.
- Based on the type of train, the metro and high-speed train segment is expected to account for the maximum share, owing to the growing demand for rapid railways globally.
- In terms of solution type, the communication-based train control segment is expected to show robust growth, driven by increasing deployment in modern rail infrastructure.
- The increase in the renovation activities of old railway infrastructure in many countries and the increasing deployment of advanced train management systems are driving the demand in the market.
- The rising trend of electrification in the transport sector and the growing adoption of electric trains are expected to drive the sales of train control and management systems.
- Extravagant installation costs, high deployment complexities, and maintenance costs are hampering the sales of train control and management systems in the market.
- Increasing stringent carbon emission regulations will limit the market growth.
For in-depth information on Train control and management systems Market, Demand Methodology
The major players in the train control and management system market are focusing on providing better products and services and adopting new strategies to expand their business scope in the global market. For example:
- In May 2021Railinc, a provider of rail freight messaging and data services in North Americaannounced the renaming of the company’s new business unit to TransmetriQ.
- In January 2021QuEST Global, a SingaporeA New York-based lifecycle engineering and services company announced the launch of a new train management and control systems lab in Hyderabad, India. This will help the company increase its revenue share through the India market.
Top Companies Featured by Fact.MR
- General Electric
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- Alstom S.A.
- Bombardier Inc.
- MEN Mikro Elektronik GmbH
- Siemens AG
- DEUTA-WERKE GmbH
- EKE Group
- Strukton rail
- Toshiba Company
- Thales Group
More valuable information about Train control and management systems Market
In the latest study, Fact.MR offers a detailed study on the Global Train Control and Management Systems Market for the forecast period 2022 to 2031. This study also highlights the key driving forces behind the sales promotion of train control and management systems through detailed segmentation as follows:
- TCMS market by type of train:
- Subways and 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
- TCMS Market by Connectivity:
- TCMS market by type of solution:
- PTC systems (positive train control)
- 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 Management and Control Systems Market
Key questions addressed in the Train control and management systems Market report
- What is the projected value of the Train Control and Management Systems market in 2021?
- At what rate will the global train control and management systems market grow up to 2031?
- What are the factors hindering the growth of the Train Control and Management Systems market?
- Which region is expected to lead the global train control and management systems market during the period 2022-2031?
- What are the factors driving the Train Control and Management Systems market during the forecast period?
- What is the expected market value of the Train Control and Management Systems market during the forecast period?
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