Global Train Control and Management Systems Market Report, published by Variant Market Research, forecast that the global market is expected to reach $4 billion by 2024 from $2 billion in 2016; growing at a CAGR of 7.6% from 2016 to 2024. By geography, North America and Asia-Pacific are expected to grow at a CAGR of 9.1% and 8.3 %, respectively, during the forecast period.
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Rise in demand for energy efficient rail systems to drive the Global Train Control and Management Systems Market
Key driving factors of global train control and management systems market arerise in demand for energy efficient rail systems,rapid urbanization, and increasing demand for safe and comfortable transit solutions. Though, fluctuating fuel prices and risks associated with train control systems may hamper the market growth in the coming years. Increasingglobal demand for high speed metros, and train traffic control systems would provide numerous growth opportunities in the market.
Market Segmentations
The global train control and management system isclassified into train type, component, and train control solution. Train type segment compriseselectric multiple units,metros & high speed trains, and diesel multiple units. Component segment includes computer control units, mobile communication gateway,modular input/output devices, and human machine interfaces. Train control solution is further segmented intointegrated train control, positive train control, and communication based train control. The market by geography is categorised into North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Metros & high speed trains dominated the market with highest market share in 2016
Metros & high speed trains typeheld the largest market share in 2016, and is expected to remain the leading segment over the forecast period, driven by growing urban population androad traffic congestion.
Europe held the highest market share in 2016
Europe dominated the largest market share in 2016, driven bygrowing development of trains equipped with TCMS systems in United Kingdom. Asia-Pacific held for the second largest market share, owning torise in demand for high speed trains in Japan, Australia, and India. North America is expected to grow at a fastest CAGR of 9.1% from 2016 to 2024, driven by growing investments in rapid rail transit projects in United States, and Canada.
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Competitive Landscape
Major companies operating in this market are Toshiba Corporation,Bombardier Inc., Mitsubishi Electric Corporation, Siemens AG, Alstom SA, Hitachi Ltd., Strukton Rail, EKE-Electronics, and Thales Group, among others.
Scope of Train Control and Management Systems Market
Train Type Segment
• Electric Multiple Units
• Metros & High Speed Trains
• Diesel Multiple Units
Component Segment
• Modular Input/output Devices
• Computer Control Units
• Human Machine Interfaces
• Mobile Communication Gateway
Train Control Solution Segment
• Communication Based Train Control
• Integrated Train Control
• Positive Train Control
Geographical Segments
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o United Kingdom
o Spain
o Others
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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