Portland, OR, Sept. 10, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global railway system market garnered $24.72 billion in 2018 globally, and is projected to reach $37.36 billion by 2026, registering a CAGR of 5.4% from 2019 to 2026. The report provides a comprehensive analysis of current market trends, future scenarios, key winning strategies, value chain, major segments, and competitive landscape.
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Increase in budget for railways development, rise in demand for safe, secure, and efficient transport system, and surge in use of public transport service as a solution to minimize traffic congestion augment the growth of the global railway system market. Whereas, the high capital requirement restrains the market growth. On the other hand, infrastructural improvement of railways in developing countries and rise in mining and industrial activities are anticipated to create innumerable opportunities in the near future.
COVID-19 Impact on Railway System Market:
- The lockdown measures in different regions have impacted the global railway system market significantly. In certain regions, the transportation facilities including railways have been curtailed down.
- Whereas, in countries such as India, the train compartments were utilized as isolation wards to treat corona patients, which aided the market to be stabilized.
- The relaxation of restrictions in recovering regions have initiated special trains.
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The railway system market is segmented on the basis of system type, rolling stock type, end use, and region. Based on system type, the propulsion segment held the largest share in 2018, accounting for nearly one-fourth of the global railway system market, and is anticipated to maintain its dominance throughout the forecast period. On the other hand, the train safety segment is expected to register the fastest CAGR of 6.7% during the forecast period.
Based on end use, the cargo train segment held the largest share in 2018, contributing to nearly three-fifths of the global railway system market. Furthermore, the segment is anticipated to maintain its leadership throughout the forecast period. On the other hand, the passenger transit segment is expected to manifest the highest CAGR of 4.9% during the forecast period.
Based on region, the market across Europe accounted for the largest share in 2018, contributing to more than one-third of the market, and is anticipated to rule the roost. Moreover, the global railway system market across Asia-Pacific is expected to manifest the fastest CAGR of 6.9% through 2026. The report also analyzes regions including LAMEA and North America.
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The key market players in the report include ALSTOM, CRRC, Bombardier, Siemens, General Electric, Stadler Rail AG, Hitachi, Transmashholding, The Greenbrier Companies, and Trinity Industries, Inc.
Similar Reports We Have on Railway Industry:
Rolling Stock Market: The major companies profiled in the rolling stock market share include Alstom, Bombardier, CRRC Corporation Limited, General Electric, Hitachi Ltd., Siemens, Stadler Rail AG, The Greenbrier Companies, Inc., TRANSMASHHOLDING, and TrinityRail.
Rolling Stock Power Conversion System Market: The key players include AEG Power Solutions, Alstom SA, Bombardier Inc., CRRC Corporation Ltd., Hitachi Ltd., Siemens AG, Strukton, Toshiba Corporation, Turbo Power Systems, Wabtec Corporation, and others that account for a major rolling stock power conversion system market share.
Railway Traction Motor Market: The key players profiled in the railway traction motor market report are ABB Group, Saini Group, Sulzer Ltd., ALSTOM, Bombardier, BHEL, Hyundai Rotem Company, Mitsubishi Electric Corporation, Siemens, and VEM Group.
Autonomous Train Technology Market: The major companies profiled in the autonomous train technology market share include Alstom S.A., ABB, Bombardier Transportation, CRRC Transportation, General Electric, Hitachi Ltd., Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Siemens AG., and Thales Group.
Rail Logistics Market: Key players identified across the value chain of this rail logistics market report include, DB Schenker, SBB Cargo, Canadian National Railway, GeoMetrix Rail Logistics, CTL Logistics, VTG Rail Logistics, Kuehen+Nagel Logistics, Union Pacific, RSI Logistics, and others.
Rail Infrastructure Market: The major companies profiled for the rail infrastructure market in the report include GE Company, Bombardier Transportation, Alstom, Siemens, Kawasaki Heavy Industries, National Railroad Passenger Corporation, BNSF Railway Company, Norfolk Southern Corp, The Kansas City Southern Railway Company, and Union Pacific Railroad Company.
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