Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Autonomous Train Market Report (2023-2028)," the market is estimated at USD 8.74 billion in 2023. It is expected to register a CAGR of 5.78% during the forecast period.
Autonomous trains are driverless trains operating with human assistance. These trains are equipped with advanced technologies like AI and sensors. Autonomous trains help navigate, control speeds, and make decisions without dependence. They provide efficiency, safety, and capacity. However, safety standards are essential for public integration.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 8.74 billion |
| Market Size (2028) | USD 11.57 billion |
| CAGR (2023-2028) | 5.78% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growth of electrification in the transportation sector. |
| The increasing investments in connected mobility by various governments. |
Who are the Top Companies in the Autonomous Train Market?
The autonomous train market is highly consolidated in nature. It consists of various market players that are investing in the R&D of equipment to meet international standards. Some of the players are also adopting mergers and acquisitions, collaborations, and agreements to strengthen their market position.
Significant players in the autonomous train market are,
- Siemens AG
- Alstom SA
- Thales Group
- Hitachi Rail STS (Ansaldo STS)
- Mitsubishi Heavy Industries Ltd
- Kawasaki Heavy Industries
- Construcciones y Auxiliar de Ferrocarriles (CAF)
- CRRC Corporation Limited
- Wabtec Corporation
- Ingeteam Corporation SA
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Key Highlights from the Autonomous Train Market Report:
Metro/Monorail to Drive the Market
- Metro/monorail segment is driving the market as it is efficient, safe, and affordable. The rising penetration of GoA 4 technology in metro rail is expected to propel the market’s growth.
- The growing electrification of metro/monorail due to stringent emission regulations worldwide is increasing the growth of the market.
Asia-Pacific to Witness Steady Market Growth
- Increasing investments by governments in Asia-Pacific countries like Japan, India, and China for the development of rail infrastructure is likely to drive the market.
- The growing popularity of the metro as a means of transport in India is also leading to major market growth. Because of this, the railway network is essential in the economic development of Asia-Pacific countries.
What are the Latest Developments in the Autonomous Train Market?
- In June 2022, the German Aerospace Centre and the TU Berlin, Alstom, developed technical solutions to digitize rail passenger transport in Germany.
- In September 2021, Mitsubishi Heavy Industries Engineering partnered with Dubai Metro and Dubai Tram in a JV with Keolis.
Mordor Intelligence has Segmented the Autonomous Train Market Based on Automation Grade, Application, Technology, Train Type, and Geography:
- By Automation Grade (Market Size and Forecast based on Value (USD billion), 2018-2028)
- GoA 1
- GoA 2
- GoA 3
- GoA 4
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Passenger
- Freight
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- CBTC
- ERTMS
- ATC
- PTC
- By Train Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Metro/Monorail
- Light Rail
- High-speed Rail
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
-
- North America
- Europe
- Asia-Pacific
- Rest of the World
-
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Autonomous Train Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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