Autonomous train market to reach 106,290 units by 2030
The autonomous train market is estimated to be 60,078 units in 2018 and is projected to reach a size of 106,290 units by 2030, growing at a compound annual growth rate (CAGR) of 4.87% during the forecast period. According to MarketsandMarkets’ new market research report, "Autonomous Train Market by Level of Automation (GOA1, GOA2, GOA3, GOA4), Technology (CBTC, ERTMS, ATC, PTC), Application, Component (Antenna, Camera), Train Type (Metro, Light Rail, Bullet Train/HSR), Track Length, and Region - Global Forecast to 2030," the market growth is driven by factors such as the rise in demand for safety, security, and an efficient mode of transport.
Communication-based train control (CBTC) technology is estimated to account for the largest market share. CBTC is a widely used signaling technology in all metros and light rails across the globe. Almost 68% of the world's automated metro lines are operated with the help of CBTC systems. This is close to three-quarters of the newly built fully automated metro infrastructure in the last decade.
The passenger segment is estimated to be the largest market segment, by volume, of the autonomous train market during the forecast period. Increasing road traffic congestion has created an opportunity for alternate modes of transportation such as trains. However, the increasing number of rail accidents across the globe has raised safety concerns. This has expanded the demand for autonomous technology to increase the safety and security of trains and passengers.
The Asia Pacific region is the largest and fastest-growing market in the global autonomous train market. The market growth in the region can be attributed to the increasing infrastructural development, expanding government budget allocation on the transportation sector, and ongoing/upcoming projects in various countries. The Asia Pacific market is led by emerging countries, including China and India, where the installation of metro lines is growing at a faster pace than for other countries in the region. The increased levels of automation and demand for an efficient and safe mode of transportation are major factors expected to drive the market for autonomous trains.
The market is dominated by a few global players and is comprised of several regional players. Some of the key manufacturers operating in the market are Alstom (France), Siemens (Germany), Bombardier (Canada), Hitachi (Japan), and Kawasaki Heavy Industries (Japan).
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