The autonomous train market is projected to grow at a CAGR of 5.1% from 2022 to 2030, to reach 12.3 USD billion by 2030. The need for rapid mass transit to reduce traffic congestion and journey time with enhanced safety has increased the demand for the autonomous train market globally.
By train type the metro/monorail train segment of the market is projected to grow at the highest CAGR of 5.8% during the forecast period. Metro/monorail train segment is expected to be the fastest growing market because of the rising concerns in terms of the safety of passengers and trains. As the train runs at high speeds compared to conventional trains, the requirement for safety is high. The added advantage of the reduction of operating costs is expected to propel the growth of the Autonomous high-speed rail/bullet train autonomous train market. The light rail segment is estimated to demonstrate a healthy growth during the forecast period. The demand for this segment is estimated to grow on account of rise in demand for various urban transit alternatives such as tram systems.
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The growth of the camera can be attributed to the increasing need to monitor systems to increase the safety of passengers. The camera is estimated to grow significantly due to the requirement of safety in the train, as it monitors and sends live feed to the server. It also helps in monitoring other rail components such as the pantograph. The advanced camera in the autonomous train is capable of monitoring passenger, and heat signals, which is a unique camera technology. The rise in the adoption rate of the autonomous train due to increase in safety requirements is expected to boost the market for the camera segment.
By technology, the Communication/Computer-based Train Control (CBTC) segment is estimated to lead the autonomous train market during the forecast period due to benefits such as real-time train control information which increases the line capacity improving the volume trains that operate on the same line. Automatic Train Control (ATC) automatically translates the calculated energy-optimized trip profile into precise control commands to the train’s propulsion and braking systems and improves the traffic flow and energy consumption which will be a major factor in its rising demand over the forecast period. It can be used to automate normal operations so that all trains move at the exact same speed and follow an optimized speed profile to avoid delays.
Asia Pacific is the largest and the fastest growing region in the global autonomous train market because of the development of rail infrastructure, increase in government spending on the transportation sector, and ongoing/upcoming projects in various countries of this region. China announced investments worth USD 50.3 billion in the railway sector during the first half of 2020. In December 2021, China launched a new high-speed railway line in Shandong province and launched two new high-speed railway lines in its Central and North-East regions.
In 2020, the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) announced that 40% of its freight train services were expected to run on the dedicated freight corridor in 2021. It also announced that by June 2022, the construction of the Eastern and Western corridors is expected to be completed. Metro systems are available in 12 cities in India, while approximately 500 km metro lines are under construction in 15 other cities. The Indian government has allocated a fund of USD 340.4 million to Regional Rapid Transit System (RRTS) projects in the budget for 2020-21. In 2022, the government has increased allocation for Mass Rapid Transit Systems (MRTS) and metro projects and allocated a total of USD 3.2 billion. These developments are expected to fuel the growth of the market.
Key Market Players
The global autonomous train market is dominated by major players Alstom (France), Siemens (Germany), Hitachi (Japan), Wabtec Corporation (US), and Thales Group (France). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies have adopted strategies such as new product developments, deals and others to sustain their market position.
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