The global railway system market size was valued at $ 24.72 billion in 2018 and is projected to reach $37.36 billion by 2026, registering a CAGR of 5.4% from 2019 to 2026. Europe accounted for the highest share in the global railway system market in 2018, in terms of revenue, and Asia-Pacific is anticipated to exhibit remarkable growth rate during the railway system market forecast.
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Key Market Players
- ALSTOM
- Bombardier
- CRRC
- General Electric
- Siemens
- Hitachi
- Stadler Rail AG
- The Greenbrier Companies
- Transmashholding
- Trinity Industries Inc.
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Key Market Segments
- By System Type
- Auxiliary Power
- HVAC
- Propulsion
- On board Vehicle Control
- Train Information
- Train Safety
- BY TYPE
- Locomotive
- Metros
- Monorails
- Trams
- Freight Wagons
- Passenger Coaches
- Others
- By End Use
- Passenger Transit
- Cargo Train
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This is attributed to railway transportation being considered as the safest and economical mode of transportation, which has boosted the demand for railways. Latest trains are equipped with onboard cameras, sensors, and communication devices. Moreover, such trains in most locations run underground or at the ground level and are highly secured by fences or walls to prevent trespassing, which propels the growth of the market. In addition, modern advanced trains consume less energy due to their better acceleration, traction, and breaking system, resulting in reduction of energy consumption by around 30% based on the degree of automation. Furthermore, such trains can provide a flexible way to coordinate in terms of frequency, which results in the improvement of the system performance in all aspects, thereby boosting the growth of the market.
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Key Benefits for Stakeholders
- This study presents the analytical depiction of the global railway system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall railway system market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global railway system market with a detailed impact analysis.
- The current railway system market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
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