In a recently published report, Global Railway System Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Railway System Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Railway System Market is valued at approximately USD 26 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2020-2027. The railway system is vital driver of social and economic expansion that generates lucrative opportunities for the economic facilitates that improve competitiveness. Railway system market mainly include numerous tools and services that provide better managing the rail industry. Several activities, such as power supply & infrastructure management, traffic planning, maintenance & support, station control & communication network, operation management, rail-facility information management, and others, are involved in the railway systems.
Furthermore, the rail asset management system, rail operation management system, rail traffic management system, rail maintenance management system, and rail control system are some other tools utilized in railway system market. These systems enable better energy and asset management, improve operation & control, traffic planning, staff & passenger information management data analytics, and others. The rise in number of railway projects in developing and developed countries, along with the growing demand for energy-efficient transportation are the few factors responsible for the CAGR of the market during the forecast period. For instance, the French government has announced in 2018 an initial budget of USD 15 billion (13.4 billion euro) for transportation covering the period to 2022. In this budget, about USD 8 billion (6.8 billion euro) will be allocated to the renovation and construction of railways.
Similarly, in 2016, Austria’s federal government has approved Austrian Federal Railways infrastructure investment plan for the period of 2017-2022, that undertakes to spend USD 18.5 billion (15.2 billion euro) on the rail network over the next five years. Also, in 2020, Canadian National Railway Company (CN) planned an investment of USD 2.9 billion to enhance the railway infrastructure in the province of Saskatchewan. This, in turn, is expected to strengthen the market growth all over the world. However, the high overall and maintenance cost, coupled with capital-intensive nature of rolling stock are the few major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Railway System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rise in demand for safe and efficient transportation systems, and the significant presence of large number of market vendors in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing railway infrastructure, along with the inclination towards high-speed rail for rapid transit in developing countries, such as China and India, would create lucrative growth prospects for the Railway System market across the Asia-Pacific region.
Major market player included in this report are:
Alstom SA
Bombardier Inc.
CRRC Corporation Limited
General Electric
Hitachi, Ltd.
Siemens AG
Stadler Rail AG
The Greenbrier Companies
CJSC Transmashholding
Trinity Industries, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By System Type:
Auxiliary Power
HVAC
Propulsion
On board Vehicle Control
Others
By Rolling Stock Type:
Locomotives
Metros
Monorails
Passenger Coaches
Others
By End-Use:
Passenger Transit
Cargo Train
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Railway System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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