A study on the Global Rail System Market has been conducted to understand the landscape in 2022.
Survey period: October 20-28, 2022
Researcher: SDKI Inc.
Survey Base: We surveyed 542 market players of all sizes.
Number of valid answers: 542
Survey method: 220 field surveys, 322 internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Survey results:
Question: What is the size of the global Rail Systems market? What is the projected revenue growth rate by the end of the forecast period? The global rail system market will reach a value of USD 26 billion in 2022. The market is expected to reach USD 40 billion by 2035, exhibiting a CAGR of 5% during the forecast period of 2023-2035. Question: Why is there global demand in the rail systems market? Factors driving the growth of the rail system market-
Growing preference for rail transport – Rail is seen as a safer, safer and more energy efficient transport system.
Increased Rail Development Budgets – Governments of various countries are allocating premium budgets for the development of rail systems. Growing awareness of traffic congestion – Local and metro train services are being adopted as a solution to minimize traffic congestion, which is expected to drive market growth.
Increasing urbanization – The emergence of smart cities is
accelerating the growth of rapid transit systems such as subways, light rail, electric multiple units, and diesel multiple units. Efficient rail management – Advanced rail systems use digital communications, big data, and intelligent rail monitoring for disaster management and in-train processing to track the speed and location of other trains.
Question: What are the challenges associated with the rail systems market? The challenges restraining the rail system market are:
High cost of infrastructure implementation – High technology implementation and continuous innovation make railway systems very complex and costly.
High maintenance costs – Routine repairs and maintenance to ensure the efficiency and reliability of rail systems can be cumbersome and costly.
Q: What tools and services are used in rail systems?
The rail system market includes numerous tools and services for efficiently managing the rail industry. A railway system contains several activities that must be managed effectively to avoid all kinds of technical and other obstacles. They include power supply and infrastructure management, transportation planning, maintenance and support, station control and communication networks, operational management, and information management for railway facilities. In addition to the above, several tools are used, such as data analysis and asset management systems, railway operation management systems, railway maintenance management systems, and railway control systems. Learn more https://bit.ly/3jtjteR
Q: How is the rail systems market segmented?
The rail system market is segmented as follows:
By transit type – conventional, diesel locomotive, electric
locomotive, diesel electric locomotive, coach, express, diesel multiple unit (DMU) or electric multiple unit (EMU), and light rail/tram.
Among them all, Electric Multiple Unit (EMU) or Diesel Multiple Unit (DMU) are the major categories with a prominent market share. Electric Multiple Unit (EMU) or Diesel Multiple Unit (DMU) refers to
coaches/cars used in most suburban areas. These trains have multiple self-propelled coaches/bogies with either electric motors or diesel in each car.
By System Type – Auxiliary Power Systems, Train Information Systems, Propulsion Systems, Train Safety Systems, HVAC Systems, Onboard Vehicle Controls.
Propulsion systems are expected to lead the segment. It includes a series of interconnected components of a diesel or electric locomotive along with an alternator that converts mechanical energy into electrical energy. A traction motor is used to transfer electrical energy to the vehicle’s wheels using an axle and drive gear unit to achieve linear motion. The motor improves reliability and performance and reduces emissions.
By Application – Freight Transportation, Passenger Transportation Passenger transportation is a major category of application segment. Passenger trains accelerate much faster than freight trains and break much faster. Also, a passenger train full of equipment weighs about the same as an empty freight train, so it is much lighter.
Technological advances such as mechatronic switches, active
suspension, and virtual coupling are estimated to drive significant growth in this segment.
Q: Who are the key players in the Rail Systems market and what are some of their recent developments?
Major players in the railway system market are ABB Ltd., Alstom, American Equipment Company, Bombardier Inc., Calamp Corporation, Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Fuji Electric, General Electric Company, Hitachi Ltd., Hyundai Rotem Company, These include Ingeteam Power Technology, Medcom, Mitsubishi Heavy Industries Ltd., Siemens Aktiengesellschaft, Škoda
Transportation and Strukton Groep N.V..
The latest developments of Rail Systems are:
ABB acquires PowerTech Converter (PTC), expanding its strong presence in the rail segment and improving its position in sustainable transport solutions. PTC is a German supplier of auxiliary power converters and aftermarket services for the rail industry.
Alstom and SMRT Trains have signed a Memorandum of Understanding (MoU) to explore the use of 3D printed spare parts and innovations to enhance railway operations and maintenance.
Q: Which regions offer lucrative growth opportunities in the rail systems market?
Asia-Pacific is the leading region in terms of global rail system market share. This is related to factors such as the growing demand for safe and efficient transportation systems and the presence of numerous market vendors in the region. Here, rail transport is the preferred medium due to cost efficiency considerations. Countries such as India and China allocate large sums of money to rail
infrastructure. India allocated a budget of US$18.8 billion to the railway sector in 2017, increasing to US$21.2 billion in 2018, highlighting an increase of 13%. The trend toward high-speed rail in Japan, China, and India is expected to create favorable growth prospects for the rail systems market across the Asia-Pacific region. [Image 4
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