The global high speed train signaling systems market was valued at USD 9.4 Billion in 2020 and is expected to expand at a CAGR of 11.4% during the forecast period 2021 to 2028. Increasing establishment of several metro railway route and rising number of high-speed trains, especially in Asia and Middle East represent key positive factors for the market growth.
High speed train signaling system is designed to provide a smooth functioning of the railways using different signal systems to control the speed of trains. The signaling system can be understood as part of speed-controlled approach formulated by standardization measures, which are aimed at improving both railway traffic safety and efficiency. Recently, many new technologies have been implemented in the system such as the arrangement of correspondence-based train control (CBTC) and other progressed signaling techniques to enhance railways operations and its service.
Rising interest in the rapid development of urban transportation particularly in the railways service and wide adoption of the CBTC systems around the world for effective rail traffic management are the key factors driving the market growth. The growing number of travelers globally and rapid growth of the tourism industry are pushing railway operators to modernize the existing railway system.
Market Drivers, Restraints, Trends, and Opportunities
- Rising demand for effective and standard railway systems is a key driver for the market growth.
- Growing concerns from governments and railway operators to ensure passenger safety and comfort is another key factor expected to drive the market growth during the forecast period.
- Technological advancement that helps to develop innovative signaling system, which ensure easy handling of the system present another main factor that boost the market.
- High cost of installation and maintenance cost are key challenges that can hamper the market growth.
- The COVID-19 pandemic and its impact had a major negative impact on the market growth. The total shutdown of transport system due to travel restriction across the globe completely shattered the market.
- Large government spending for the development of the railway infrastructure and rising deployment of high-speed trains such as special or bullet trains to expand connectivity of distant places are presenting immense opportunities for the market expansion.
Scope of High Speed Train Signaling System Market Report
The report on the global high speed train signaling system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
High Speed Train Signaling System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Metros & High-speed Trains, Electric Multiple Units, and Diesel Multiple Units), Applications (Vehicle Control Unit, Versatile Communication Gateway, Human Machine Interface, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Siemens AG, Hitachi Ltd, Alsthom SA, China Railway Signal and Communication Co, Ltd, Ansaldo STS, Thales, Cisco Systems, Inc, Bombardier Inc, and GE
Global High-Speed Train Signaling System Market Segment Insights
In terms of types, the market is divided into metros & high-speed trains, electric multiple units, and diesel multiple units. The electric multiple units (EMU) segment is projected to witness a substantial growth rate in the coming years due to its wide popularity and adoption in the railway system across countries. An EMU can be applicable in all railway systems and that requires no different train network.
Based on applications, the market is segregated into vehicle control unit, versatile communication gateway, human machine interface, and others. The vehicle control unit segment is anticipated to hold a large share of the market during the forecast period owing to the rising demand for train movements and traffic management solutions. On the other hand, the versatile communication gateway segment is anticipated to grow at an impressive rate due to its wide application for the development of train signaling system.
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to register a robust CARG during the forecast period owing to the rapid expanding number of metro rail route and wide installation of high speed trains to needs the demand for easy transport of the growing population in the region. Massive investment in the railway system from the emerging economies such as India, China, and South Korea can be major factor that boosts the regional market growth.
The global high speed train signaling system market has been segmented on the basis of
- Metros & High-speed Trains
- Electric Multiple Units
- Diesel Multiple Units
- Vehicle Control Unit
- Versatile Communication Gateway
- Human Machine Interface
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Siemens AG
- Hitachi Ltd
- Alsthom SA
- China Railway Signal and Communication Co, Ltd
- Ansaldo STS
- Cisco Systems, Inc
- Bombardier Inc
Major companies competing in the global high speed train signaling system market include Siemens AG, Hitachi Ltd, Alsthom SA, China Railway Signal and Communication Co, Ltd, Ansaldo STS, Thales, Cisco Systems, Inc, Bombardier Inc, and GE.
Some of these companies are engaged in adopting several market strategies such as merger, collaboration, product launch, R&D activities, and capacity expansion to increase their market share and global presence.