Global Railway System Market, By Transit Type (Conventional, Rapid), System Type (Propulsion System, Auxiliary Power System, Train Information System, Train Safety System, HVAC System, On-Board Vehicle Control), Application (Freight Transportation, Passenger Transportation), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The railway system market is expected to witness market growth at a rate of 5.40% in the forecast period of 2021 to 2028 and is expected to reach USD 40,413.91 million by 2028. Data Bridge Market Research report on railway system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the use of public transportation is escalating the growth of railway system market.
Railway system refers to the collective services that facilitate the operations of a particular railway network. The system enables the transportation of railways and carrying the passengers or freight. The system also assists in enhancing the comfort levels of passengers travelling inside the coaches of railways and safekeeping of the freight.
The rise in the preference for public transportation among consumers across the globe acts as one of the major factors driving the growth of railway system market. The rise in need for tools that assist in maximization of intervals between certain maintenance events including replacing the wheel-and-axle sets or turning wheels on the trains with the purpose of reducing maintenance costs and increase in demand for energy-efficient transport accelerate the railway system market growth. The advent of metro and high-speed rail projects, smart transportation and smart cities and growing government support for railways further influence the railway system market. Additionally, rapid urbanization, growth in population, government initiatives for smart cities and PPP working models and adoption of IoT as along with automation technologies to improve optimization positively affects the railway system market. Furthermore, increase in demand for high-speed rail for rapid transit especially in emerging nations and use of railways for industrial and mining activities extend profitable opportunities to the railway system market players in the forecast period of 2021 to 2028.
On the other hand, high overhaul and maintenance costs and capital-intensive nature of rolling stock are the factors expected to obstruct the railway system market growth. The unfavorable refurbishment scenarios of existing rolling stock are projected to challenge the railway system market in the forecast period of 2021-2028.
This railway system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on railway system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Railway System Market Scope and Market Size
The railway system market is segmented on the basis of transit type, system type and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of transit type, the railway system market is segmented into conventional and rapid. Conventional is further segmented into diesel locomotive, electric locomotive, electro-diesel locomotive and coaches. Rapid is further segmented into diesel multiple unit (DMU), electric multiple unit (EMU), light rail/train and metro/subways.
- On the basis of system type, the railway system market is segmented into propulsion system, auxiliary power system, train information system, train safety system, HVAC system and on-board vehicle control.
- On the basis of application, the railway system market is segmented into freight transportation and passenger transportation.
Global Railway System Market Country Level Analysis
The railway system market is analyzed and market size, volume information is provided by country, transit type, system type and application as referenced above.
The countries covered in the global railway system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America and Western Europe dominate the railway system market because of the adoption of IoT technology, research and innovation program for smart railways, presence of high-end train manufacturers, investments in smart railways and government initiatives.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Railway System Market Share Analysis
The railway system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to railway system market.
The major players covered in the railway system market report are GENERAL ELECTRIC, Cisco, ABB, Huawei Technologies Co. Ltd., Hitachi Rail STS Ltd., Bombardier, Alstom, ALE International, ALE USA Inc., DXC Technology Company, EKE-Electronics Ltd., Moxa Inc., Advantech Co. Ltd., OEM Technology Solutions, Televic, Thales Group, Tata Consultancy Services Limited, Nokia, Siemens, INDRA SISTEMAS, S.A., IBM Corporation, Capgemini, TOSHIBA CORPORATION, Cyient, Telangana State Technology Services, ZTE Corporation, CGI Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.