Acumen Research and Consulting recently published report titled “Train Control Management Systems Market, Analysis Report and Region Forecast, 2022 - 2030”
TOKYO, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The Global Train Control Management Systems Market Size accounted for USD 3,527 Million in 2021 and is estimated to achieve a market size of USD 7,362 Million by 2030 growing at a CAGR of 8.7% from 2022 to 2030.
Train Control Management Systems Market Statistics
- Global train control management systems market revenue was worth USD 3,527 million in 2021, with a 8.7% CAGR from 2022 to 2030
- North America region has leads the market with more than 35% share in 2021
- Asia-Pacific market is expected to reach at a CAGR of 9.2% from 2022 to 2030
- By train type, metros & high-speed trains segment is expected to register the highest growth rate over the forecasting years
- Ongoing trend of IoT and digitalization in rail infrastructure, drives the train control management systems market share
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Train Control Management Systems Market Report Coverage:
| Market | Train Control Management Systems Market | |
| Train Control Management Systems Market Size 2021 | USD 3,527 Million | |
| Train Control Management Systems Market Forecast 2030 | USD 7,362 Million | |
| Train Control Management Systems Market CAGR During 2022 - 2030 | 8.7% | |
| Train Control Management Systems Market Analysis Period | 2018 - 2030 | |
| Train Control Management Systems Market Base Year | 2021 | |
| Train Control Management Systems Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Train Type, By Revenue, By Connectivity, By Train Control Solutions, And By Geography | |
| Train Control Management Systems Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | By Train Type, By Revenue, By Connectivity, By Train Control Solutions, And By Geography | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Train Control Management Systems Market Overview
The train control management system (TCMS) is a central management system that manages the flow of information between railways and subsystems. It is made up of a variety of computer-based technologies, including programming, human-machine interfaces, electronic and analog input/output (I/O) systems, as well as data networks.
Train Control Management Systems Market Growth Factors
- Increasing adoption of AI & cloud-based facilities
- Growing the federal government's investment in rail transportation
- Increasing prefer for a more secure, safer, & efficient transportation network
- Train Control Management Systems Market Dynamics
Growing Demand for Safe, Secure, and Convenient Transportation Networks Drives the TCMS Market Trend
According to World Health Organization (WHO) reports, injuries caused by vehicles are the most common cause of death among those aged 15 to 29, contributing to 1.25 million premature deaths each and every year. In addition, road accidents cause huge financial losses for victims, their families, and even governments. As a result, the rising demand for reliable, secure, and effective transportation infrastructure contributes considerably to the growth of the global train control management systems market trend. Railways are recognized as the safest and also most cost-effective form of transportation, which has raised demands for railways.
The most recent trains have sensors, cameras, as well as communication equipment. However, such trains travel underground or at the ground surface in most regions and are strongly secured by gates or fences to prevent trespassing, boosting the TCMS market growth.
High Maintenance and Infrastructure Costs Associated With the System Restrict the Train Control Management Systems Market
Rail infrastructure costs include capital and maintenance expenditures for the tracks, architectural structures like bridges or tunnels, railway signaling, telecommunication networks, the power source in electrified portions, and terminal infrastructure. These infrastructural expenditures, in addition to the price of equipment, land development, and capital, act as a restriction on rail infrastructure.
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Train Control Management Systems Market Segmentation
The global train control management systems market has been segmented by Acumen Research and Consulting based on train type, component, connectivity, and train control solutions. By train type, the segment is separated into metros & high-speed trains, diesel multiple units, and electric multiple units. According to the train control management systems market forecast, the metros & high-speed trains segment is predicted to develop significantly in the next years. By component, the market is categorized into vehicle control unit, human machine interface, mobile communication gateway, and others. By connectivity, the market is classified into GSM-R, TETRA, Wi-Fi, and others. By train control solutions, the market is split into positive train control, integrated train control, and communication-based train control.
Train Control Management Systems Market Regional Overview
The global train control management systems market is separated into several geographic regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. According To a Train Control Management Systems Industry Analysis, the European Region Will Take the Lead in the Global Market
The European market represents considerable revenue growth for train control and management system market participants as rail lines in major European countries are being furnished with cutting-edge technologies such as train control and management systems. On the Hungarian railway line, for example, Siemens train control and management technologies will be deployed. By the end of 2020, this new signaling technique is expected to be operational. In addition, Bombardier Transportation, another industry player in train control and management systems, built a new high-tech laboratory for railway technology and demonstrated ideas for battery-powered trains in Mannheim, Germany.
Asia-Pacific Will Register the Highest CAGR in the Train Control Management Systems Market
The Asia-Pacific rail industry is one of the world's fastest-growing emerging economies, with almost 40,000 km of rail projects in the planned or development stages. This is due to the region's rising development as well as rail modernization. Passengers are strongly favoring sophisticated rail transportation options that may give increased mobility while also delivering safety, convenience, as well as environmental sustainability. In response to increased customer demand, government authorities are collaborating to digitally change and upgrade the regional train network.
For instance, the Government of India declared in 2015 that it would invest US$ 137 billion in rail infrastructure and railway assets over the following five years. Similarly, China has allocated $456 billion in developing urban train transportation by 6,000 kilometers by 2020. These enormous initiatives are positively affecting the commercial world.
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Train Control Management Systems Market Players
Some of the prominent Train Control Management Systems market companies are Bombardier Inc., Knorr-Bremse AG, Toshiba Corporation, Hitachi Ltd., Siemens AG, Mitsubishi Electric Corporation, and ALSTOM SA.
Train Control Management Systems Market Strategies
Some of the key strategies in market:
- In 2015, Hitachi Ltd. announced a merger with AnsaldoBreda S.p.A. (Italy). Hitachi was able to improve its presence in the signaling and traffic management system markets as a result of this strategic acquisition.
- In January 2016, Alstom SA announced an agreement of a consent form with Kochi Metro Rail (KMRL) in India for the sale of 25 Made in India coaches. Alstom is supplying KMRL with an initial fleet of 25 three-car metropolitan trainsets under a USD 90 million deal won in October 2014, with options for up to 25 more trainsets.
Questions Answered By This Report
- What was the market size of Train Control Management Systems Market in 2021?
- What will be the CAGR of Train Control Management Systems Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Train Control Management Systems Market?
- Which region held the largest share in Train Control Management Systems Market in 2021?
- What are the key market drivers of Train Control Management Systems Market?
- Who is the largest end user Train Control Management Systems Market?
- What will be the Train Control Management Systems Market value in 2030?
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