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The Global autonomous train market is estimated at USD 8.3 billion in 2022 and is projected to grow at a CAGR of 5.1% from 2022 to 2030, to reach USD 12.3 billion by 2030
The rail industry across the globe is undergoing continuous changes in terms of technologies to become highly efficient and provide improved services to commuters/passengers. The high grade of automation in trains enables increased control over the speed and formulation of effective traffic management strategies.
New York, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Autonomous Train Market by Level of Automation, Technology, Application, Component, Train Type, Track Length, GOA 4 Systems and Region - Global Forecast to 2030" - https://www.reportlinker.com/p05402898/?utm_source=GNW
It also reduces the chances of mishaps caused by human error. Lawsuits resulting due to mishaps caused by negligence or incompetence of train drivers are expensive. Autonomous or driverless trains ensure smoother acceleration as compared to trains operated manually, thereby resulting in increased lifespan of wheelsets and traction/braking equipment of trains. These trains also offer improved passenger comfort. Developed regions, such as North America and Europe, are improving the safety of railways by retrofitting trains and replacing existing systems with new and advanced systems. For instance, in the European region, a new initiative known as the 4th railway package, has been undertaken to create a single European rail area with structural and technical reforms. The initiative aims at providing a high level of safety, interoperability, and reliability to the European rail network. Automated Train Operation is an operational safety enhancement device used to help automate the operation of trains. The degree of automation is indicated by the Grade of Automation (GoA), up to GoA level 4 (where the train is automatically controlled without any staff on board). ATO is primarily used on automated guideway transits and rapid transit systems where it is easier to ensure the safety of humans. On most systems, there is a driver present to mitigate risks associated with failures or emergencies. In November 2021 Alstom introduced its new monorail in China which will be equipped with automatic train operation (ATO) grade of operation 4 (GoA4). Similarly, Technologies such as Positive Train Control (PTC), Communication/Computer-based Train Control (CBTC), (ERTMS) European Railway Traffic Management System and Automated Train Control (ATC) provide ease in operating rail and increase safety & security for trains.
Asia Pacific to be the fastest growing region in the autonomous train market globally.
The growing population in the region, along with better-organized transit systems and a need for safety, has triggered the demand for rails, which directly drives the market for autonomous train technology. Global rail manufacturers and technology manufacturers, such as Alstom and Bombardier, Inc. among others, cater to the Asian market through supply contracts with governments. The Chinese market will be large in Asia Pacific as there has been a significant increase in demand for high technology rails in the country. The markets in other countries in Asia Pacific are also growing, though not as fast as the major economies like China, Japan, and India. In March 2021, Hitachi Rail was awarded a supply contract for integrated logistics support for the Frecciarossa high-speed fleet. The contract worth USD 18 billion will be for a duration of six years.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: OEMs - 57%, Tier I - 29%, and Tier II - 14%
• By Designation: CXOs - 54%, Directors - 32%, and Others - 14%
• By Region: North America - 14%, Europe - 12%, Asia Pacific - 57%, Rest of the World- 10% and Middle East & Africa- 7%
Alstom (France), Siemens (Germany), Hitachi (Japan), Wabtec Corporation (US), and Thales Group (France) are the leading players operating in the autonomous train market.
Research Coverage:
The market study covers the autonomous train market across segments. It aims at estimating the market size and future growth potential of this market across different segments such as by Level of Automation, Train Type, Technology, Application, Track Length, Component, GOA 4 Systems and Region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume numbers for the overall autonomous train market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05402898/?utm_source=GNW
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