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The train collision avoidance system market size is estimated to grow at a CAGR of 17.74% between 2023 and 2028. The market size is forecast to increase by USD 14,045.44 million. The growth of the market depends on several factors, including the growing adoption of high-speed rail by emerging economies, the rising need for safety in railways, and an increase in government initiatives and long-term projects. The train collision avoidance system (TCAS) offers a warning or situational awareness that is specifically designed to prevent train collisions. Such systems are also extensively used in the mining and automotive sectors, apart from the railways sector, to avoid accidents caused by collisions. These are not specific to train mounting and can be deployed on railway tracks, crossings, and track-changing junctions.
This train collision avoidance system market report extensively covers market segmentation by Application (freight trains and passenger trains), Technology (radar-based systems, sensor-based systems, and camera-based systems), and Geography (Europe, North America, APAC, Middle East and Africa, and South America) and geography Europe, North America, APAC, Middle East and Africa, and South America. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The growing adoption of high-speed rail by emerging economies is the key factor driving market growth. Countries across the world are developing high-speed trains to deliver lower-cost and safe transportation. One of the main factors for this is the growth in the disposable income of the lower-middle-class population across emerging economies such as India, which is estimated to prompt these consumers to increasingly spend on convenient and high-speed rail transportation.
Furthermore, the demand for TCAS is expected to be greater in China and India because of huge investments in the development of high-speed rail networks. Consequently, the initiative toward the development of high-speed rail networks in emerging economies, mainly in South Asian countries, is expected to drive the demand for TCAS during the forecast period.
A rise in key consolidation activities is the primary trend shaping market growth. Strategic alliances in the smart railways system market have been increasing, which is anticipated to be an essential trend in the train collision avoidance system market. These strategic partnerships are primarily driven by consolidation activities in the railway transportation sector.
Moreover, several coalition activities are based on gaining economies of scale, in which players with similar product portfolios seek to find synergies. In the other consolidation activities, players are aiming to strengthen their product portfolio or find new geographic markets, which will drive the growth of the market during the forecast period.
Issues related to data management are a challenge that affects market growth. The transfer of large volumes of information is required in the adoption of sensors and other technologies. In order to gain valuable information, such data will be processed. Continuous monitoring is carried out on the main train components, e.g. braking and switching systems, to identify those element that produces abnormal patterns. These trains are then sent for inspection to avoid future failure.
Furthermore, big data is the latest technology of data management in the transportation industry and has a huge potential for data collection and information extraction. However, the use of big data may lead to data inconsistency and management issues in railways. Hence, data management-related issues may impede the growth of the global market in focus during the forecast period.
The market share growth by the freight trains segment will be significant during the forecast period. Freight trains are, for the purpose of transporting nonhuman cargo, a type of railroad car or vehicle. Freight trains are commonly used for mass transportation of goods and raw materials inland as they are a cost-effective alternative to road transportation. Some of the common forms of freight cars include boxcars, open wagons, refrigerated cars, hoppers, mineral wagons, tank cars, and flatcars.
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The freight trains segment showed a gradual increase in the market share of USD 5,737.81 million in 2018. Furthermore, the European Union (EU) has been trying to raise the share of the railways in the overall regional freight transport but has been mostly unsuccessful owing to the poor economics of rail freight in Europe, fierce competition from the well-developed road transportation industry, and lower flexibility in delivery. These problems can be traced back to factors such as the fragmentation of railway networks across different countries, limited competition in industry, and other structural inefficiencies. Thus, such factors will drive the growth of the market segment during the forecast period.
The demand for radar-based systems in TCAS has been growing owing to the demand to improve railway safety, prevent collisions, and enhance the efficiency of rail transportation. Radar systems can deliver accurate and real-time detection of objects and trains in the area, allowing to identification of potential collisions well in advance. Moreover, radar systems can be used in conjunction with other collision avoidance technologies, such as Global Positioning System (GPS), radio communication, and onboard sensors, to provide a redundant and comprehensive safety system. Hence, due to all such features of radar-based systems, the global TCAS market is expected to witness significant growth during the forecast period.
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APAC is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to players is Europe. In Europe, rail transport is an important mode of transport where a number of countries are interconnected through railway networks. The European rail transport sector is characterized by several large companies like Alstom, Siemens, and Thales Group.
In addition, the demand for transportation has continued to grow, especially in terms of the quality of service. Moreover, the growing traffic congestion has added to the need for a more efficient transportation mode. Furthermore, from the aspect of technology, the railway industry in Europe has evolved significantly due to the growing adoption of IoT, which enables improved communications, such as the deployment of 5G services and better control of railway systems.
The outbreak of COVID-19 in 2020 had a negative impact on the TCAS market in Europe. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Furthermore, several railway projects are expected to commence during 2021-2024. For instance, Russian Railways announced its plan to rebuild and modernize the infrastructure at the Valjevo-Vrbnica border in 2022. Hence, despite a plunge in the growth of the regional railway industry in 2020, such developments are expected to drive the growth of the regional TCAS market during the forecast period.
The Train Collision Avoidance System Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Train Collision Avoidance System Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 13 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The train collision avoidance system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Train Collision Avoidance System Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.74% |
Market Growth 2024-2028 |
USD 14,045.44 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
15.38 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 28% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALSTOM SA, Becker Mining Systems AG, Harsco Corp., HBL Power Systems Ltd., Intelligence on Wheels IoW, Kernex Microsystems India Ltd., Medha Servo Drives Pvt. Ltd., Rail Vision Ltd., Robert Bosch GmbH, Selectrail Australia Pty Ltd., Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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