The global — railway system market is estimated to grow at a CAGR of 5.2%, from USD 26.0 billion in 2019 to USD 35.3 billion by 2025. The propulsion system segment is estimated to hold the largest market share. The propulsion system is a standard component in railways. Several countries in Europe, Asia Pacific, and the Middle East have introduced various rail projects to encourage mass rapid transit.
Asia Pacific railway system market is estimated to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific region is due to increased production and capacity expansions by rolling stock manufacturers. This is to cope with rising consumer demand and comply with fuel-efficiency norms and regulations.
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Rising income levels have increased the demand for personal mobility and led to a rise in road traffic in major cities across the globe, which has increased the demand for public transportation such as metros and high-speed trains. The increasing demand for these rolling stocks will fuel the growth of the railway system market.
“Increase in user preference for public transportation and growing demand for energy-efficient transport to drive the railway system market.”
The current limitations of transport infrastructure in developed as well as developing economies have fueled the development for new and existing rail lines. Increasing traffic and growing population in urban areas have boosted the demand for ecofriendly transit options from commuters and governments. In metropolises, expansion of existing urban transit networks has generated demand for new vehicles which is fueling the demand for rapid transit.
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The propulsion system segment is estimated to hold the largest market share. The propulsion system is a standard component in railways. Several countries in Europe, Asia Pacific, and the Middle East have introduced various rail projects to encourage mass rapid transit. The market for propulsion systems is expected to grow in line with the increased demand for rail transit systems.
The study contains insights from various industry experts, ranging from component suppliers to tier I companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier I:27%, Tier II:27%, OEM:46%
• By Designation: C level:32%,D level:38%,Others:30%
• By Region: North America:15%, Europe:27%, Asia Pacific:50%, Rest of the World: 8%
The report offers comprehensive information about the railway system market and the top players in the market. The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the railway system market. The report offers comprehensive information about the railway system market. The report analyzes the railway system market across regions and provides comprehensive information about lucrative emerging markets.
Order the Report on Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, On-board Vehicle Control, Train Information & Train Safety), Transit Type (Conventional & Rapid), Application (Passenger & Freight Transportation),& Region- Global Forecast to 2025 at http://www.rnrmarketresearch.com/contacts/purchase?rname=2121746 .
The report segments the railway system market, by value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World),application (passenger transportation and freight transportation), system type (auxiliary power system, HVAC, propulsion system, onboard vehicle control, train information system, train safety system), and transit type (conventional and rapid).
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