Published On: Jan 31, 2018
The business landscape prevailing in the global autonomous trains market is marked by the intense rivalry among several established players, looking to gain a competitive edge over their rivals, states Transparency Market Research (TMR) in a new research report. Thales Group, Hitachi, Alstom, Bombardier Transportation, Siemens, Ansaldo STS, CRRC Corp. Ltd., and Mitsubishi Electric are some of the prominent players in this market. Encouraged by the benefits offered by train transportation, increasing emphasis of authorities on automation in railways, and the bright future of the automation, these participants are focusing actively on manufacturing technologically advanced railway vehicles. They are also involving increasingly into mergers, acquisitions, and strategic collaborations with governing bodies in various countries to strengthen their position across the world, states the research report.
As per the estimation of the research study, the global market for autonomous trains had total track length of 7538.8 Km in 2016. Expanding at a CAGR of 12.70% over the period from 2017 to 2025, the market is expected to reach a global track length of 22108.7 Km by the end of the forecast period. Long distance trains, monorail, tram, suburban, and subway/metro are the prime type of autonomous trains available across the world. Of late, the subway/metro segment has emerged as the most lucrative one and the scenario is anticipated to remain so over the few years. North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America are considered as the prominent geographical segments of the worldwide market for autonomous trains. Among these, Asia Pacific is projected to surface as the most promising regional market for autonomous train in the near future, thanks to the increasing government support and the rising uptake rate, reports the market study.
Increasing Demand for Faster and Safer Mode of Transportation to Drive Growth
“Since trains are the least polluting mode of transportation, various governments across the world are keen on advancing the train transport systems, of which autonomous trains are an important part,” says the author of the report. The increasing government support, in terms of funds, for the manufacturing of technologically advanced trains, is aiding this market substantially. The augmenting demand for safety and rising need for pollution reduction are some of the other important factors that have been driving the global market for autonomous trains substantially.
Going forward, the market is anticipated to gain from the demand for faster yet safer mode of transportation from urban population over the coming years. The rising number of metros and monorails is also projected to boost the growth of this market in the near future, states the research report.
High Initial Investments to Hamper Market
With technological advancements, the future of the global market for autonomous trains looks bright. However, the high initial investments and need for regular maintenance may limit the growth of this to some extent in the years to come. Nonetheless, the increasing uptake of autonomous trains in densely populated Asian economies, such as India and China, is anticipated to keep the market’s run smooth over the forthcoming years, notes the market study.
The review is based on a report by Transparency Market Research (TMR), titled “Autonomous Trains Market (Grade - GoA1, GoA2, GoA3, and GoA4; Train Type - Long Distance Train, Suburban, Tram, Monorail, and Subway/Metro; Region - North America, Europe, Latin America, Asia Pacific, and Middle East and Africa) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025.”
The global autonomous trains market is segmented into:
- GoA1 + GoA2
By Train Type
- Long Distance Trains
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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