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Autonomous Train Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

·6-min read
ReportLinker
ReportLinker

The Autonomous Train Market was valued at USD 7. 89 billion in 2021 and is expected to reach USD 11. 09 billion by 2027 by registering a CAGR of 5. 85% during the forecast period (2022 - 2027).

New York, June 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Autonomous Train Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)" - https://www.reportlinker.com/p06177361/?utm_source=GNW
The COVID-19 pandemic have adversly affect on the railway industry. Major construction of railway project were stopped due to the pandemic, which is likely to be a challenge for autonomous train market. Due to wide spread of pandemic, personal transportation witnessing major growth. However, with the rising concerns over emissions, the need for using public transportation and pooling is expected to help the trains market grow.

Growing electrification in the transportation sector is likely to witness major growth for the autonomous train market. Introduction to internet of things (IOT) in transportation is a major driver for the autonomous train market. For an instance, In October 2021, German Rail Corporation and Siemens mobility have developed the world’s first train that operates by itself in rail traffic. The train is controlled by digital technology and is fully automated. The driver remains on the train to supervise the journey with passengers on board.

Major government across the developed countries including China, United State, and Japan are investing on the connected mobility which is likely to witness significant growth for the autonomous train market. Asia-Pacific and North America is dominating the autonomous train market during the forecast period. Asia-Pacific has one of the largest rail networks across the world and is expected to show the major growth in the autonomous train market.

Key Market Trends

Metro/Monorail is dominating the global autonomous train market

Metro/Monorail is dominating the global autononous train market owing to increase in a efficient, safe, and affordable mode of transport. Rise in penetration of GoA 4 technology in metro rail is likely to witness major growth for the market. GoA 4 is unattended train operation (UTO) where starting and stopping, operation of doors, and handling of emergencies are fully automated without any on-train staff. Rail is considered as one of the safest modes of land transport and more attractive to the customer as this offers a much better service to potential passengers and drives an increase in passenger numbers. The demand for safer and efficient transport is increasing from consumers across the world highlighting importance of adoption of advanced technology-based transport i.e., autonomous trains for commuting purpose.

Growing electrification of metro/monorail due to an enactment of stringent emission norms across the globe is also witnessing major growth for the market. Introduction to connected metrorail is also create a challenge for autonomous train market across the globe. Currently, rail has been identified as one of the most energy-efficient transport modes, accounting for 8% of global motorized passenger movements and 7% of freight but consuming only 2% of transport energy.

Major industries are jointly working on the rail projects to develop advanced technology for autonnous metrorail. In addition, latest developments like testing driverless passenger cars to further propel the growth of the market. For instance,

In September 2021, Mitsubishi Heavy Industries Engineering partnered in new concession of Dubai Metro and Dubai Tram in joint venture with Keolis and Mitsubishi Corp.
In March 2021 by SNCF and its partners, a prototype has been put for the test in northern region of Hauts-de-France. The company has set goal to provide fully automated prototypes running by 2023 and to fully expand the train operation by the year 2025.

Asia-Pacific Region Expected to Witness Significant Growth During the Forecast Period

Asia-Pacific has one of the largest rail network across the globe which is likely to dominate the autonomous train market across the globe. Growing investment by the government across the major country including China, India and Japan for rail infrastructure development is likely to witness major growth for autonomous train market. Growing popularity of metro travel as public transportation in India is also witnessing major growth for the market. Due to this, the railway network plays a very significant role in the economic development of countries in Asia-Pacific. For instance, In February 2022, Hangzhou metro opened two new lines and an extension adding more than 59 route-km to the network. The installed base of metro-rail rolling stock in India is expected to increase to 5,458 railcars by 2023, owing to huge demand for commuter transportation in metropolitan cities. A total of 3,343 railcars are planned to be added to the metro-rail network, over a period of five years from 2018 to 2023.

Asia-Pacific is also characterized by the presence of both developed and developing economies, such as Singapore, Malaysia, Indonesia, and Bangladesh. For an instance, The Malaysian Industry Government Group for High Technology (MIGHT) signed a memorandum of understanding with Bombardier Transportation, outlining their collaboration on developing home-grown rail industry expertise over the coming years. The Malaysian government ordered 252 driverless vehicles for the Kuala Lumpur metro Line LRT3 from a consortium of Siemens China, CRRC Zhuzhou, and a Malaysian partner, Tegap Dinamik. The government also ordered 108 Innovia Metro 300 vehicles from a consortium of Hartasuma and Bombardier that are likely to be used for Kuala Lumpur’s Kelana Jaya Line.

Major industries are planning to establish rail projects in Asia-Pacific which is wintessing a significant growth for the market. For instance, CRCC also entered into an MoU with the government of Maharashtra, India for setting up a manufacturing facility in the Multimodal International Cargo Hub and Airport at Nagpur (MIHAN). With these players, expansion into the country is likely to boost the autonomous trains’ developments at a fast pace over the coming years.

Competitive Landscape

The Autonomous Train market is a highly consolidated market owing to the presence of few major players such as Bombardier, Mitsubishi Heavy Industries, Alstom, Thales, Siemens AG, and some others. Major players are investing on R&D of the equipment to meet international standards, which is likely to witness significant growth for the market.

Some of the major players in the market are adopting various growth strategies such as mergers, acquisitions, collaborations, and agreements to strengthen their position in the market. For instance,

In August 2021, Hitachi Rail STS (Ansaldo) entered an agreement with the Thales Group to acquire the Ground Transportation System business of the Thales Group company. As a result of this agreement, Hitachi Rail is expected to drive growth by expanding the scale of its rail signaling systems business and further advance its rail automation systems business globally.
In March 2021, Mitsubishi Heavy Industries Engineering, Ltd. (MHI-ENG) and KEOLIS S.A. announced that they have formed a consortium (“the Consortium”) and signed a 15-year contract to operate and maintain Dubai’s world class driverless metro in Dubai and tram networks with the Roads & Transport Authority of Dubai (”RTA”).
In January 2021, Alstom completed the acquisition of Bombardier Transportation, thereby, creating a competitive manufacturer on a global scale in mobility and rail transport, moving toward greener transportation globally.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06177361/?utm_source=GNW

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