Albany, New York, Nov. 28, 2018 (GLOBE NEWSWIRE) -- Few leading players including Bombardier Inc., Siemens AG, Alstom S.A., and Toshiba Corp. have made the global train control and management systems market highly competitive. In 2015, these players held 45% share in the global market. In the coming years, the market is likely to witness intense competition among the players, as large numbers of new players are entering in the global market. Leading players in the market are focusing on different strategies to expand their geographical reach and to gain larger share in the market.
According to Transparency Market Research, the global train control and management systems market is steady 8.2% CAGR between 2016 and 2024. Rising at this rate, the market is expected to reach a valuation of US$5.01 bn by the end of 2024. In 2015, the market valuation was US$2.5 bn.
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On the basis of train type, the metros and high speed trains segment held maximum share in 2015. The dominance of this segment is based on increasing investments from governments to modernize rail infrastructure and to assist in transit projects. On regional front, Europe is leading the global train control and management systems market due to the presence of leading manufacturers of this market. Over the course of eight years, this region is expected to rise at a growth rate of 7.70%. Asia Pacific is likely to offer lucrative growth opportunities for this market.
Expanding Global Population to Fuel Demand for Train Control and Management Systems
Growing global population is considered as the key factor driving the demand in the train control and management systems market. The rapid growth of rail transit systems across the globe and need for technologically advanced transportation infrastructure have fueled the demand for train control and management systems. In addition, larger use of public transportation helps in reducing traffic congestion, greenhouse gas emission, and unstable fuel prices. This is also likely to augment the train control and management systems. Furthermore, train control systems increase reliability and efficiency of trains and help in reducing their response time due to automating the operations of the train.
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Lack of Interoperability to Hamper Market Growth
High maintenance and infrastructural costs are the key restraining factors deterring the growth of this market. In addition to that, lack of interoperability as various national rail networks have set various technical specifications for the rail infrastructure is also expected to impede the market’s growth. System failure or system malfunction that can lead to derailment and collisions of trains are some of the other factor obstructing the market’s growth. These limitations could be curtailed through high investments in the intercity high-speed rail lines. Moreover, centralized control over a large number of subsystems of trains by deploying train control and management systems is also expected to reduce the above-mentioned restraints.
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The information presented in this review is based on a TMR report, titled “Train Control and Management Systems Market (Train Type - Metros and High Speed Trains, Electric Multiple Units, and Diesel Multiple Units; Component Type - Computer Control Units, Modular Input/output Devices, Mobile Communication Gateway, and Human Machine Interfaces; Train Control Solution Type - Positive Train Control, Integrated Train Control, and Communication Based Train Control) - Global Industry Analysis, Trend, Size, Share and Forecast 2016 - 2024.”
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The Global Train Control and Management Systems Market has been segmented as presented below:
Global Train Control and Management Systems Market: By Train Type
- Metros and High Speed Trains
- Electric Multiple Units
- Diesel Multiple Units
Global Train Control and Management Systems Market: By Component Type
- Computer Control Units
- Modular Input/output Devices
- Mobile Communication Gateway
- Human Machine Interfaces
Global Train Control and Management Systems Market: By Train Control Solution Type
- Positive Train Control
- Integrated Train Control
- Communication Based Train Control
Global Train Control and Management Systems Market: Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Italy
- Spain
- France
- Germany
- Rest Of Europe
- Asia Pacific Excluding Japan
- China
- India
- ASEAN
- Rest Of Asia Pacific
- Japan
- Latin America
- Brazil
- Mexico
- Rest of South America
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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