Increased Budget Allocations to Boost Development in Global Autonomous Trains Market
Transparency Market Research (TMR) observes that players in the global autonomous trains market are engaged in cutthroat competition. As the autonomous trains market have huge growth potential, players are trying their hands in getting higher share in the market. Leading players are focusing on research and development activities and are coming up with innovative solutions to attract large customers. Moreover, growing emphasis by authorities to automate railways, and the bright future of the automation has encouraged players to invest substantial amount in this market.
Additionally, players are extensively focusing on mergers and acquisition, partnership, collaboration, and expansion. Currently, some of the prominent players in the global autonomous trains market are Ansaldo STS, Thales Group, Mitsubishi Electric, Hitachi, Alstom, Siemens, Bombardier Transportation, and CRRC Corp. Ltd.
According to TMR’s report, the global autonomous trains market is anticipated to progress at staggering CAGR of 12.70% during the forecast period between 2017 and 2025. If the market rises at the given growth rate, the market valuation will reach US$
On the basis of train type, highest demand is seen in subway/metros segment as compared to the other train types. Subways/ metros are considered reliable, efficient, and affordable mode of transport. Benefits of subways/metros are that it has high capacity and short travel time, which has increased its demand at a significant rate. However, demand for suburban trains is also increasing at a high rate. With respect to geography, Asia Pacific is expected to hold largest share in the global autonomous trains market. Rapid economic development, increasing use of advanced technologies through government support, and larger number of laying train track are some of the major factors that made Asia Pacific a prominent region in this market.
Growing Demand for Metros and Monorails to Bolster Market Performance
Increased budget allocations for the development of railways and growing focus on safety and service benefits for onboard passengers are the key reasons driving growth in the global autonomous trains market. Moreover, government across nations are emphasizing on using advanced techniques to provide best of facilities, reduce travel time, and ensure safety of travelers these factors have also augmented demand in the global autonomous trains market.
Railways are considered least polluting mode of transport that is why governments and various private companies are also making significant efforts to improve and advance trains. Rising preference to travel in metros and monorails has gained traction especially in urban areas. In addition, development of autonomous freight trains and low operational cost and energy consumption are other contributing factor augmenting growth in the global autonomous trains market.
Lack of Proper Railway Infrastructure to Challenge Growth for Autonomous Trains
Despite high demand for autonomous train, factors like lack of proper railway infrastructure, long stopping distance and time required by autonomous train might challenge growth in the global autonomous trains market. Moreover, instability of DTO systems to carry out required protection functions during emergencies is also expected to hinder growth in this market. Lack of human intervention and failure of systems to carry out door operations in autonomous trains are also projected to impede development of autonomous trains.
But with increasing investments in autonomous trains and use of advanced technologies, the impact of these factors might be reduced. Moreover, growing demand for means of transportation that are cost-effective, eco-friendly, and minimal travel time are likely to provide a fillip in the global autonomous trains market.
The study presented here 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 based on:
- GoA1 + GoA2
- Long Distance Trains
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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