Rapid expansion of monorail and metro infrastructure across developed and developing countries is expected to drive demand opportunities in the global autonomous trains market
Rise in adoption of autonomous transit solutions across emerging economies is expected to propel the market growth in Asia Pacific during the forecast period
WILMINGTON, Del., Jan. 10, 2023 /PRNewswire/ — The global autonomous trains market is projected to expand at a CAGR of 15.2% during the forecast period from 2022 to 2031, as per the market forecast presented in the research report by Transparency Market Research (TMR).
Key Findings
Urban population across the globe has increased over the last few years, leading to rise in need for dependable transportation solutions to fulfill the current demands. Moreover, increase in globalization has resulted in a surge in demand for transportation of freight and goods. The rise in adoption of autonomous rail transport solutions across the globe is creating profitable prospects in the global market.
Government and municipal authorities across many developed and developing countries are focusing on developing robust solutions to address the issue of traffic congestion in urban cities. Hence, they are expanding monorail and metro infrastructure in these areas. This factor is likely to increase the sale of autonomous trains which have the ability to provide smooth operations in mass transit rail networks.
Adoption of automation is increasing across a wide range of transportation systems including the rail industry. Technological advancements such as driver assistance systems are gaining impetus as they help regional, tram, and mainline operators to increase the flexibility, energy efficiency, and capacity of overall rail operations. Moreover, automatic obstacle detection technology is anticipated to play a crucial role in the future trends in train automation. Many metro lines from urban cities have incorporated level 4 GoA driverless train operations. These factors are likely to drive the market growth in the near future, as per the TMR study, which offers important insights about current and historical market trends.
The rail industry is anticipated to observe scarcity of trained drivers. This factor is expected to fuel the adoption of autonomous trains in the next few years. Moreover, the global autonomous trains industry is projected to be driven by increase in trend of electrification and awareness about rising tailpipe emission levels.
Adoption of autonomous or driverless technology is anticipated to rise in monorails, trams, and metro rails. Hence, usage of autonomous trains is foreseen to increase for passenger transit instead of freight transport in the upcoming years.
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Growth Drivers
Surge in need for larger mobility solutions due to increased urbanization across the globe is fueling business growth in the autonomous trains market
Rising issues of traffic jams is likely to lead to increase in adoption of autonomous train solutions in the next few years
Regional Analysis
Demand for autonomous trains is anticipated to rise in Asia Pacific during the forecast period due to increasing urbanization and industrialization in emerging economies such as India, South Korea, and China
North America held third-largest share of the autonomous trains market in 2021. The market growth in North America can be attributed to rise in commercial usage of semi-autonomous (GoA 3) and fully automated metro lines in the region.
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Autonomous Trains Market: Competition Landscape
Market players are focusing on incorporation of innovative technologies in order to develop highly advanced autonomous trains
Companies are using the strategies of merger and acquisition in order to maintain their prominent market share
Autonomous Trains Market: Key Players
Alstom
ABB
Beijing Traffic Control Technology
American Equipment Company
Bharat Forge
Belden
CAF
Bombardier
CRRC
Calamp
Deutsche Bahn
Deuta
Hitachi
General Electric
Intesens
Ingeteam
Mitsubishi Heavy Industries
Kawasaki Heavy Industries
Siemens
Thales Group
Tech Mahindra Ltd.
Tvema
Transmashholding
Wabtec Corporation
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Autonomous Trains Market Segmentation
Grade of Automation
GOA 1
GOA 2
GOA 3
GOA 4
Train Type
Metro/Monorail
Light Rail
High-speed Rail/Bullet Train
Technology
CBTC
ERTMS
PTC
ATC
Component
Tachometer
Doppler
Accelerometer
Camera
Antenna
Radio Set
Track Length
Asia Pacific
Europe
North America
Middle East & Africa
South America
Application
Passenger Train
Freight Train
Regions Covered
North America
Europe
Asia Pacific
Middle East & Africa
South America
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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