PORTLAND, OREGAON, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Railway Signaling System Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Solution, Services), by Technology (Positive Train Control System, Communication-based Train Control System, European Train Control System, Others), by End Use (Mainline, Urban, Freight): Global Opportunity Analysis and Industry Forecast, 2021-2031". The railway signaling system market was valued at $12.8 billion in 2021, and is estimated to reach $21.7 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/9150
Europe dominated the global railway signaling system market demand in 2021. The European Union (EU) has the largest electrified rail length in the world, and is considered one of the safest railway networks in the world, with around 218,000 km of active rail network. EU commission is committed to make its rail network more convenient for passengers by introducing various laws, along with collaborating with private industry players to advance current networks. Rapid urbanization in developing countries of Europe, increase in investment in development, and surge in fast & reliable railway network are some of the key factors driving the growth of the rail signaling system market in region.
Rise in investments by government bodies and venture capitalists within the Europe railway signaling system market, coupled with collaborative approach of regional players is expected to support the market competitiveness during the forecast period. For instance, in December 2021, Siemens Mobility signed a contract with NMBS/SNCB, the Belgian National Railways to retrofit 390 trains and steering cars with European Train Control System (ETCS) Level 2 technology. Germany is promoting investment in high-speed railway projects, driving the demand for rail signaling systems in the country. For instance, in October 2020, German railway operator Deutsche Bahn announced to invest around $10 billion in enhancing its high-speed connections and expanding the dedicated train fleet. In addition, in January 2022, Alstom and Deutsche Bahn initiated testing of autonomous freight and passenger trains, which are to be introduced in Germany by 2023.
On the basis of end use, the global railway signaling system market size has been segmented into mainline, urban, and freight. The urban segment is expected to experience significant growth during the forecast period. Urban rails and metros are connected with town or cities, which provide easy transportation for individuals. Urban rails require highly sensitive sensors and advanced signaling systems to operate within cities. Various supportive initiatives from government authorities to set up tram and metro infrastructure network is anticipated to create immense opportunities for the market expansion in the future. . In 2021, Siemens Mobility signed a contract to design, install and commission the first communications-based train control (CBTC) technology for the Malaysia and Singapore cross border link.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/railway-signaling-system-market/purchase-options
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Alstom SA,
Angelo Holding SRL (MERMEC S.p.A.),
Belden Inc.,
Cisco Systems Inc.,
Hitachi Ltd. (Hitachi Rail),
IBM Corporation,
Huawei Technologies Co. Ltd.,
Nokia Corporation,
Siemens AG,
Wabtec Corporation.
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 :
The outbreak of COVID-19 had a negative impact on the growth of the global railway signaling system market, owing to the presence of lockdowns in various countries across the globe.
Lockdowns resulted in the closure of all sorts of public transportation facilities, including those of trains and buses, which negatively impacted the growth of the market. This resulted in the decreased demand for railway signaling system during the forecast period.
These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
The global railway signaling system market is expected to experience growth in the coming years, due to rise in investments in railway sector to install digital signaling systems on rail routes across several countries.
For instance, in 2020, in UK, government announced investment of $477.7 million to fund the UK's first digital signaling system on a long-distance rail route.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9150
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :
By offering, the services segment is anticipated to exhibit significant growth in the near future.
By technology, the communication-based train control system segment is anticipated to exhibit significant growth in the near future.
By end use, the urban segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
Railway System Market :
https://www.alliedmarketresearch.com/railway-system-market-A05987
Railway Telematics Market :
https://www.alliedmarketresearch.com/railway-telematics-market-A12206
David Correa
Allied Market Research
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