Global Train Control and Management System Market: Full Year 2019 Results | Estimated to be Worth USD 2,730.39 Million in 2019 and is Projected to Reach USD 4,720.61 Million by 2027
The “Global Train Control and Management System Market by Product Type (Communication-Based Train Control, Positive Train Control and Integrated Train Control) and by End-Users/Application (Metros & High-Speed Trains, Electric Multiple Units and Diesel Multiple Units) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 – 2027” report has been added to ProficientMarket.com’s offering.
In terms of revenue, global train control and management system market in 2019 stood at USD 2,730.39 million and is expected to reach USD 4,720.61 million by 2026 growing at a CAGR of 8.14% from 2019 to 2026.
Some of the global major players operating in the train control and management system market include: Bombardier Inc., Alstom SA, Siemens AG, Toshiba Corporation, Mitsubishi Electric Corporation, Hitachi Ltd., Knorr-Bremse AG and Others.
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Drivers for the Global Train Control and Management System Market: According to current market situation, the train control and management system market is driven by the factors such as growing urbanization and population in developing countries such as India and China and increasing availability of high-speed communication systems. Public transportation offers a range of benefits over private conveyance such as fluctuating fuel prices, traffic congestion, and greenhouse gas emissions. This leads to the increasing demand for high-speed rail transit network which is estimated to boost the market for TCMS. Furthermore, TCMS increases the efficiency and reliability of trains and shortens their response time by automating the operations of the train & its subsystem and passenger safety. These factors are estimated to drive the global train control and management system market.
Opportunities for the Global Train Control and Management System Market: Increasing railway infrastructure investments across the globe are set to drive the demand for metros & high-speed trains. The demand for metros is also rising in developing countries such as China and India.
Restrains for the Global Train Control and Management System Market: Generally, the implementation of the train control management system is hard and it needs integration of several hardware components as per their technological compatibility. A potential malfunction or system failure, the high infrastructure are restraining the TCMS market growth at global level. Also, high maintenance cost is the another factor which acting as a negative force to the train control and management system market. Moreover, due to the lack of interoperability train system facing the problems like lack of electronic data, poor quality of data, inconsistent standard in systems and complexity of interoperability which hampers the growth of the Train Control and Management System market.
Region Wise, Global Train Control and Management System Market Analysis: Global train control and management system market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global train control and management system market share due to the rapid development in the emerging countries of the region and the growing demand for train control management system in countries such as china and India. Asia Pacific region is followed by the North America and Europe.
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Global Train Control and Management System Market: Product analysis
Communication-Based Train Control
Positive Train Control
Integrated Train Control
On the basis of type, Communication-Based Train Control accounted for largest share of total revenue generated. Because, of higher performance, better scalability and reduced lifecycle costs.
Global Train Control and Management System Market: Application analysis
Metros & High-Speed Trains
Electric Multiple Units
Diesel Multiple Units
The demand of Global Train Control and Management System Market is highest from Metros & High-Speed Trains, due to standard control, communication and train management system for all vehicle platforms.
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Global Train Control and Management System Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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