Westford, USA,, March 16, 2023 (GLOBE NEWSWIRE) -- The railway signalling system market is expected to experience sustained growth in North America, primarily due to various factors, such as increasing demand for train protection and automatic train control systems, along with expanding intermodal freight rail networks. The market's positive outlook is due to the increased investment in railway infrastructure development and the rising number of travelers using the rail mode of transportation. In addition, one of the key drivers for the growth is the rising need for train protection. With the increasing number of trains on the tracks, it is essential to ensure the safety of passengers and crew. Train signalling systems play a vital role in ensuring that trains travel safely and avoid collisions with other trains.
According to SkyQuest's research, passenger mobility is projected to increase by 160-180%, while freight activity will see an exponential rise of 110-150% by 2030. Such huge growth can be attributed to the increasing population and globalization of trade, which has increased the demand for transportation services. As the demand for railway transportation continues to grow, the railway signalling system market is expected to see a significant boost in demand. With more trains on the tracks, efficient and reliable signalling systems are paramount.
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- Pages - 264
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- Figures - 85
The railway signalling system is crucial to the safe and efficient operation of railways worldwide. It is a complex network of communication and control devices that manage train movement, track occupancy, and speed. The introduction of the electronic signalling system revolutionized the railway industry, making it safer and more efficient. The signalling system can also control train speed, ensuring that trains travel at safe speeds and preventing collisions.
Prominent Players in Railway Signalling System Market
- Alstom
- Thales Group
- Nippon Signal
- Hitachi Rail Limited
- CISCO Systems Inc.
- Glarun Technology
- Wabtec
- Ansaldo STS
- Angelo Holding SRL
- Chana Railway Signal and Communication Co, Ltd.
- Bombardier
- MER MEC S.p.A.
- Belden Inc.
Communication-Based Train Control (CBTC) Segment to Show Substantial Growth as It Enables Real-Time Train Monitoring and Automatic Train Protection
According to the latest research, the communication-based train control (CBTC) segment dominated the railway signalling system market in 2021, holding a higher share. This is due to the significant advantages that CBTC offers over traditional signalling systems, such as enhanced safety, increased capacity, and improved operational efficiency. In addition, CBTC technology enables trains to communicate with the signalling system and other trains in real-time, allowing for more accurate and precise train movements.
As per the industry research, North America continues to be the primary revenue generator in the railway signalling system market in 2021. The growth trend is likely to continue through 2028 as the region maintains its dominance in the market. North America has a well-developed railway infrastructure that spans the continent. The region's advanced railway signalling systems have played a significant role in maintaining the safety and efficiency of railway operations. These systems are continuously being upgraded and modernized, contributing to the market's overall growth.
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Inside the Station Segment to Garner High Growth as Governments around the World Investing in the Modernization of Railway Infrastructure
In 2021, inside the station segment registered the fastest growth rate of all the segments within the railway signalling system market. This growth is expected to continue from 2022 to 2028, with the inside the station segment maintaining its dominance. This growth is expected to continue from 2022 to 2028, with the inside the station segment maintaining its dominance. Signalling systems that can help detect and prevent accidents or other safety incidents are becoming more important than ever, driving demand for more advanced systems within railway stations.
In 2021, the Asia Pacific emerged as the fastest-growing regional force in the railway signalling system market. This growth trend is expected to continue, making it a promising market by 2028. The Asia Pacific region has witnessed significant investments in railway infrastructure, leading to the adoption of advanced signalling technologies. Several countries in the Asia Pacific, including India, China, and Japan, have been at the forefront of this growth trend.
SkyQuest has recently launched a new research report that delves into the global railway signalling system market. This report is an excellent resource for industry players, investors, and analysts who want better to understand the current market landscape and its growth potential. In addition, the information can help businesses tailor their marketing and sales strategies to capitalize on regional opportunities and overcome regional challenges.
Key Developments in Railway Signalling System Market
- Škoda Group, a Czech multinational corporation primarily focused on manufacturing automobiles, has announced its acquisition of The Signalling Company, a digital rail system safety developer. This move represents Škoda's entry into the railway technology sector and its commitment to expanding its business beyond traditional automotive production.
- The Chinese tech giant Huawei has recently launched its latest smart railway perimeter detection technology. This innovative solution is designed to enhance the security and safety of railway infrastructures by detecting and alerting railway operators of any suspicious activities or intrusions along the tracks or within the surrounding areas.
- Canadian engineering firm SNC-Lavalin has won a significant contract from the U.K.'s Network Rail for rail signaling. This marks another significant milestone for SNC-Lavalin, a company that has made a name for itself globally in the engineering and construction industry.
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Key Questions Answered in Railway Signalling System Market Report
- What are the prominent factors contributing to the growth rate and valuation estimates of the target market, and how do these factors impact the market's overall performance?
- Which sub-segments within the target market are expected to outperform the overall market, and what are the key drivers of this growth?
- How do the top players in the market distinguish themselves from their competitors, and what factors contribute to their success or challenges in the market?
- How do regional differences in demand and supply affect revenue growth across different regions within the target market?
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