According to the latest research by P&S Market Research, the global train control and management system (TCMS) market was valued at US$2,031.6 million in 2015, and it is expected to grow at a CAGR of 8.2 per cent during 2016-2022.
Researchers indicate that increasing population and urbanisation, growing demand for safe and comfortable rapid transit solutions in developed as well as developing regions, and stringent emission control norms are expected to drive the demand for TCMS over the forecast period.
The global demand for rail vehicles is fuelled by the increasing population in urban areas, where the current transportation infrastructure is turned out to be insufficient. Increase in the development of the infrastructure network is expected to drive the demand for rail vehicles. Rapid transit vehicles are gaining popularity due to their rapid mobility and high seating capacity. In comparison to developing regions, developed regions such as Europe and North America have well established infrastructure for rapid transit vehicles such as subways, monorails and metros. To reduce traffic congestion on roads, government of developing nations such as China, India, Singapore and Thailand are investing in rapid transport system. The increasing demand for rapid transit vehicles in developing regions is expected to boost the demand for TCMS during the forecast period.
Among the various components of TCMS, the vehicle control unit held the largest share in the global TCMS market in 2015. The market of train control and management system was the largest in metros & high speed train segment in 2015, compared to other train types. Globally, communication-based train control solutions (CBTC) were the largest segment in 2015.
In 2015, Europe accounted for the largest share in the global train control and management system market; whereas the market in North America is expected to grow at the fastest rate, during the forecast period. The major reason for the growth of the market in the North America includes increasing investments in technology upgrades and rapid transit solutions. Moreover, government has started several high speed train projects in US, which are expected to be commissioned by 2020. This in turn, is expected to fuel the market of TCMS in North America during the forecast period.
Asia-Pacific was the second largest market for train control and management system in 2015. Increasing urbanization and increasing trend of automated metros and high speed trains are some of the major factors driving the growth of the Asia-Pacific TCMS market.
Researchers indicate that increasing population and urbanisation, growing demand for safe and comfortable rapid transit solutions in developed as well as developing regions, and stringent emission control norms are expected to drive the demand for TCMS over the forecast period.
The global demand for rail vehicles is fuelled by the increasing population in urban areas, where the current transportation infrastructure is turned out to be insufficient. Increase in the development of the infrastructure network is expected to drive the demand for rail vehicles. Rapid transit vehicles are gaining popularity due to their rapid mobility and high seating capacity. In comparison to developing regions, developed regions such as Europe and North America have well established infrastructure for rapid transit vehicles such as subways, monorails and metros. To reduce traffic congestion on roads, government of developing nations such as China, India, Singapore and Thailand are investing in rapid transport system. The increasing demand for rapid transit vehicles in developing regions is expected to boost the demand for TCMS during the forecast period.
Among the various components of TCMS, the vehicle control unit held the largest share in the global TCMS market in 2015. The market of train control and management system was the largest in metros & high speed train segment in 2015, compared to other train types. Globally, communication-based train control solutions (CBTC) were the largest segment in 2015.
In 2015, Europe accounted for the largest share in the global train control and management system market; whereas the market in North America is expected to grow at the fastest rate, during the forecast period. The major reason for the growth of the market in the North America includes increasing investments in technology upgrades and rapid transit solutions. Moreover, government has started several high speed train projects in US, which are expected to be commissioned by 2020. This in turn, is expected to fuel the market of TCMS in North America during the forecast period.
Asia-Pacific was the second largest market for train control and management system in 2015. Increasing urbanization and increasing trend of automated metros and high speed trains are some of the major factors driving the growth of the Asia-Pacific TCMS market.
