Global Railway Signalling System Market Size, Share and forecast 2028
The Global Railway Signalling System Market was valued at USD
7.3 billion in 2021, and it is expected to reach a value of USD 11.2 billion by
2028, at a CAGR of 5.2 % over the forecast period (2022 - 2028).
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One of the most important parts of
the various systems that make up the overall railway system is the signal. In
order to decrease the number of accidents, this technique is employed to
maintain rail traffic and keep the rail lines clean for other trains. Due to
the growing number of rail commuters, the adoption of data analytics, the
internet of things, cloud computing, and other cutting-edge technologies that
bring digital transformation to the railway industry, numerous signalling and
train control communication systems have been evolving over time.
To update the signalling systems
all throughout India, for instance, the Indian Railways aims to install a new
signalling system project. The Automatic Train Protection (ATP) system, which
assists in maintaining the permitted speed limits without the driver's
intervention, and a 4G-based mobile train radio communication system (MTRC),
which is used for emergency communications, are just two examples of
cutting-edge technologies that have been implemented as part of the signalling
system's modernization.
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Global Railway
Signalling System Market Dynamics
Driver
Increasing Automation of Urban Rail Infrastructure to Boost Growth
- In order to control rail traffic,
communication-based train control, or CBTC, is used by autonomous trains.
CBTC enables the communication between trains and devices on the tracks.
This technology guarantees increased safety and higher efficiency of the
device as well as the passengers by enabling a comprehensive identification
of bogey alignments, train positions, and track stability. Compared to
road transportation, autonomous trains operate more often and can carry
more people and more cargo at a quicker pace. Additionally, since
autonomous technology might take the place of both the train drivers and
the control officers, automation in trains can significantly increase the
cost-efficiency of railway operations.
Restraint
High Initial Cost and Unavailability of Skilled Professionals
- Due to the reasonable fare costs, speedier
method of transportation, and increased use of cutting-edge technology in
the rail infrastructure, the demand for rail transportation has been
steadily rising over the past several years. As a result, in order to meet
this constantly growing demand, the rail authorities will need to invest
heavily in developing the rail infrastructure, introducing high-speed
trains, expanding the rail networks, and adopting cutting-edge technology.
Due to the government's constrained budget, all of these investments could
not materialize. The additional costs associated with maintaining,
replacing, and managing both new and current systems inside railroad
facilities may also serve as a significant barrier to the expansion of the
market for railway signalling systems.
Global Railway
Signalling System Market Competitive Landscape
The global
railway signalling system market is relatively fragmented, with a high level of
competition. Companies are working on new product launches and other
initiatives to provide better equipment to their customers and expand their
companies globally. These industry leaders are expanding their client base in a
variety of ways, and many organizations are forming strategic and creative
partnerships with other start-up businesses in order to increase market share
and profitability.
Top Player's Company Profiles
- Siemens Mobility (Munich, Germany)
- China Railway Signal and Communication Co,
Ltd. (Beijing, China)
- Nippon Signal (Japan)
- MER MEC S.p.A. (Monopoli, Italy)
- Glarun Technology (China)
Recent Developments
- In January 2021, the National Capital Region Transport Corporation
Ltd. (NCRTC) awarded a contract to the Indian company Alstom for the
development of a product for an advanced rail system. This money will be
used to purchase, test, and install signalling along the
Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor.
Additionally, this constructed route will be the first to use the hybrid
Level 3 signalling system of the European Train Control System (ETCS).
- In August 2021, Hitachi Rail agreed to pay 1660 million euros to
acquire Thale's Ground Transportation Systems division. Additionally, by
expanding its mobility as a service (MAAS) offering, this plan will assist
Hitachi Rail in reaching $9.2 billion in revenue by 2026.
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