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), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Railway System Market
Global railway system market is expected to rise to an estimated value of USD 37.86 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the significant rise in the number of rail projects undergoing globally along with the development of high-speed railway systems from the developing regions of the world.
Market Definition: Global Railway System Market
Railway system can be defined as the collective services associated with the operations of a particular railway network. The system is responsible for the transportation of railways and carrying the passengers or freight. This system is also responsible for the safekeeping of the freight and improving the comfort levels of passengers travelling inside the coaches of railways.
- Rise in the adoption of population travelling from public transport; this factor is expected to drive the growth of the market
- Increased need for efficient transportation systems is expected to drive the growth of the market
- Increasing applications of railway networks for more than just passenger and freight transportation; this factor is expected to drive the growth of the market
- Increasing levels of restoration activities for the existing rolling stock currently available globally; this factor is expected to restrain the growth of the market
- Significant investments associated with establishment and operations of railway networks; this factor is expected to restrain the market growth
Segmentation: Global Railway System Market
By Transit Type
- Diesel Locomotive
- Electric Locomotive
- Electro-Diesel Locomotive
- Diesel Multiple Unit (DMU)
- Electric Multiple Unit (EMU)
- Light Rail/Train
By System Type
- Propulsion System
- Auxiliary Power System
- Train Information System
- Train Safety System
- Heating, Ventilation & Air Conditioning (HVAC) System
- On-Board Vehicle Control
- Freight Transportation
- Passenger Transportation
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2018, Thales Group announced that they had completed the acquisition of Cubris. This acquisition is expected to expand the capabilities of Thales in providing better digital services to their customers, as Cubris are a leader of “Driver Advisory Systems” for main line rail customers. Their digital capabilities also pave the way for the development of an autonomous train and further enhanced efficiency of railway networks.
- In March 2018, Alstom announced that they had agreed to acquire 21net. This acquisition is expected to further expand the digital offerings of Alstom providing better connectivity solutions to passengers inside due to the capabilities of 21net which is based on satellite, cellular and trackside antennas.
Competitive Analysis: Global Railway System Market
Global railway system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of railway system market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Railway System Market
Few of the major competitors currently working in the global railway system market are ŠKODA TRANSPORTATION a.s.; Siemens; Bombardier; Ramboll; CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.; HYUNDAI ROTEM COMPANY; CRRC; American Equipment Company; Sinara Transport Machinery; ABB; The MathWorks, Inc.; Thales Group; Fuji Electric Co., Ltd.; MITSUBISHI HEAVY INDUSTRIES, LTD.; Lohr; Alstom; Modern Railway Systems; TOSHIBA CORPORATION; Wabtec Corporation; Hitachi, Ltd.; Ingeteam; voestalpine VAE GmbH; MEDCOM Sp. z o.o. and CalAmp.
Research Methodology: Global Railway System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved