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According to a recent report published by Allied Market Research, titled, “Train Control Management System Market by Component, Solution, Network Type, and Train Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global train control management system market was valued at $3.13 billion in 2019, and is projected to reach $5.09 billion by 2027, registering a CAGR of 8.7% from 2020 to 2027.Browse Full Report with TOC @
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By region, Europe dominated the market, followed by Asia-Pacific, North America, and LAMEA in 2019. China dominated the Asia-Pacific train control management system market share in 2019, however, Africa is anticipated to exhibit a remarkable growth during the forecast period.
Vehicle control unit is one of the important subsystems of the propulsion system in train, as it is responsible for controlling the complete safety and characteristics of the locomotive. In addition, vehicle control unit can be used for physical controls such as opening & closing of doors and diagnostics control such as monitoring of brake temperature, and checking proper closing of doors. Vehicle control units are used for various applications such as crew human–machine interface (HMIs) management, SIL & safety applications, fleet management, lighting management, battery charge monitoring, and other crucial applications, which propel the growth of vehicle control unit segment.
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A mobile communication gateway can be defined as the network node used in telecommunication that connects two networks with different transmission protocols together. In addition, gateway serves as the entry and exit point for a network as all the data must pass through gateway prior to being routed. The adoption of mobile communication gateway provides simplified internet connectivity into one device and offers advantages such as enhanced communication quality, improved communication, and easy implementation communication device, which boost the market for mobile communication gateway segment
Leading train operating companies and equipment & systems manufacturers are signing contract for installation of advanced system in the vehicle control units systems. For instance, on June 2020, Virgin Trains USA, a train operating company, signed contract with Wabtec, an equipment and system company, for the implementation of train control and signaling systems on the rail corridors between Miami and West Palm Beach and from Palm Beach to Orlando. In addition, supportive government initiatives for the development of vehicle control unit sector in Mexico are driving the adoption of vehicle control units, thereby propelling the growth of market. For instance, the 90bn-peso (US$4bn) Mexico City-Toluca line, on which the government started working in 2014, will go from Observatorio metro station and run to Toluca, by crossing the Santa Fe business district.
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Leading rolling stock companies are announcing the plants to accelerate the development and adoption of hydrogen-based trains in the UK. For instance, in July 22, 2020, Eversholt Rail and Alstom, leading rolling stock companies, announced to invest around $1 million in British hydrogen trains, developing an entire new class of trains, which is anticipated to propel the growth of the market. In addition, German Rail, a member of the International Union of Railways (UIC), planned for the installation and deployment of European train control system (ETCS) across the rail network in Germany, including the full complete rollout of the technology. In addition, the federal government has authorized a feasibility study for the rollout of ETCS and introduction of digital interlocking in Germany.
Factors such as increase in allocation of budget for development of railways and surge in demand for secure, safer, and efficient transport system are driving the growth of train control management system market. However, high capital requirement is hindering the growth of market. Furthermore, improvement in railway infrastructure in developing countries is anticipated to provide remarkable growth opportunities for the players operating in the train control management system market.
COVID-19 impact analysis
Rapid disruption in the supply chain in railway sector due to the COVID-19 outbreak, the hard hit countries such as France, Italy, Spain, has led to the operational disturbance that delayed the ability of companies operating in the railway sector to finalize financial statements. In addition, unavailability of skilled workforce due to lockdown impacted the train control management system market significantly.
Key Findings Of The Study
On the basis of component, the human–machine interface segment is anticipated to exhibit a remarkable growth during the forecast period.
By solution, the positive train control segment is the highest contributor to the global market, in terms of revenue.
Region wise, LAMEA registers the highest growth , followed by North America, Asia-Pacific, and Europe.
The key players analyzed in this report are Bombardier, Hitachi, Ltd., Siemens, Toshiba Corporation, ABB, Mitsubishi Electric Corporation, Knorr-Bremse, Alstom, Thales Group, and EKE Group.
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Organization: Allied Market Research
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Phone: 1-800-792-5285
Website: https://www.alliedmarketresearch.com/
Release ID: 89032488
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