According to a new market report published by Credence Research Inc “Railway Signalling Systems Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the global market for railway signalling systems expected to witness considerable growth with increasing investments particularly in railway network expansion projects in emerging markets such as India, China, Southeast Asia, and other countries across the world. Developed markets are increasingly investing in upgrading their existing signal controlling systems for more efficient and safe railway operations. Emerging countries are investing in expansion of their railway and other transportation networks in order to support their economic growth. In addition, major cities are also investing in metro rail expansion due to rising numbers of commuters. All these factors are expected to increase the demand for railway signaling systems throughout the forecast period from 2018 to 2026. The global railway signalling systems market was valued at US$ 8.0 Bn in 2017 and is expected to grow at a CAGR of 10.5% over the forecast period from 2018 to 2026.
In 2017, communication based train control system accounted for the largest revenue share in the global railway signalling systems market. However, European Train Controlling System (ETCS) is steadily gaining popularity in the global market and is expected to witness the fastest growth throughout the forecast period. As of 2017, more than 20 countries across the world have deployed European Train Controlling System (ETCS) for their major railway networks in the country. Some major countries which are currently using this technology include Australia, Germany, France, United Kingdom, China and Italy among others. India has recently announced to deploy European Train Controlling System (level II) over 60,000 Km broad-gauge railway network in the country. This advanced signalling system will use wireless technology to continuously update controlling authority in loco cab.
North America and Europe represents established markets for advanced railway signalling systems and most of the railway routes in major countries in these regions are already equipped with advanced signal controlling systems. The market for railway signalling systems in these regions expected to witness the steady growth new railway network expansion projects. Asia Pacific and Middle East is expected to witness significant growth with both expansion of railway network projects and deployment of advanced signalling system on existing railway networks. China is the most attractive individual market for railway signalling systems as it has planned to expand its railway network to 150,000 Km by 2020 which is 24% increase in its railway network in 2015. Around 58% of this total expansion is expected in high speed rail network.
Browse the full report at https://www.credenceresearch.com/report/railway-signalling-systems-market
The global railway signalling systems market is dominated by established players in the market such as SIEMENS AG, Hitachi Ltd, Thales Group and other players. Global manufacturers are feeling heat from Chinese manufacturers with introduction of advance solutions and consistent recognition by end-users on the global platform. Recently, China’s state owned company, China Railway Signal and Communication Co, Ltd awarded projects in Gulf and Africa to develop high speed railway networks in these regions.