DUBLIN--(BUSINESS WIRE)--The "Autonomous Trains Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The autonomous trains market size has grown strongly in recent years. It will grow from $9.79 billion in 2023 to $10.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The autonomous trains market size is expected to see strong growth in the next few years. It will grow to $14.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
The anticipated growth in the forecast period can be attributed to several key factors, including advancements in automation technology, the initiation of global infrastructure projects, the ongoing trend of urbanization and population growth, heightened awareness concerning escalating tailpipe emissions, and the shortage of trained drivers. Notable trends that are expected to shape the market in the forecast period include a focus on connectivity and communication, emphasis on energy efficiency, the drive towards interoperability, the adoption of predictive maintenance practices, and the development of autonomous metro systems.
Western Europe was the largest region in the autonomous trains market in 2023. Asia-Pacific was the second largest region in the autonomous trains market. The regions covered in the autonomous trains market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The global autonomous train market is experiencing growth due to the heightened demand for a safe, efficient, cost-effective, high-speed, and reliable mode of transportation. Rail transport is not only the safest land transport option but also highly attractive to customers. Autonomous trains, capable of reaching speeds of up to 300 km/hour, allow passengers to cover significant distances within a short time frame, typically 5 to 7 hours for a 1000 km journey.
Furthermore, the flexibility to offer different frequencies during peak and off-peak hours improves service quality, consequently increasing passenger numbers. Moreover, intra-modal competition among railway operators and suppliers helps maintain affordable fares, even in regions with lower per capita income. This enhanced safety and competitive pricing drive the growth of the autonomous train market.
The autonomous train market encompasses various train categories, including suburban trains, trams, monorails, subways, and long-distance trains. Trams, specifically, are electric vehicles designed for urban passenger transportation, operating on tracks. Key technologies integrated into autonomous trains comprise automatic train control (ATC), communication-based train control (CBC), the European Railway Traffic Management System (ERTMS), and positive train control (PTC). These technologies contribute to the overall automation levels, categorized as GOA1, GOA2, GOA3, and GOA4. Autonomous trains find applications across different domains, serving passenger trains, freight transportation, and mining operations.
The autonomous train market research report is one of a series of new reports that provides autonomous train market statistics, including global market size, regional shares, competitors with an autonomous train market share, detailed autonomous train market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous train industry. This autonomous train market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in train accidents is anticipated to be a significant driver for the growth of the autonomous trains market. Train accidents, which involve unexpected or unplanned incidents during rail vehicle operation, can have detrimental consequences. Autonomous train systems address this concern by minimizing accidents caused by driver fatigue or inattention. These systems continuously monitor their surroundings and can take evasive actions to avoid obstacles on the tracks, such as people or other vehicles. For instance, data from July 2023 indicates that the US experienced 954 railway-related deaths in 2022, marking an 11% increase from the previous year. Hence, the growing occurrence of train accidents will stimulate the autonomous trains market.
The growth of the autonomous train market may face limitations due to the considerable deployment and operational costs associated with potential security concerns. The initial capital expenditure linked to signaling and control equipment can lead to ongoing maintenance and operational expenses, necessitating substantial capital investments.
Furthermore, there are elevated security risks concerning the transfer of data between a train's safety-critical systems, making it susceptible to cyberattacks. The Automatic Train Operation (ATO) component, which interfaces with other systems, becomes vulnerable to cyber threats, potentially compromising its high-resolution, real-time train status information exchanged between the train, wayside infrastructure, and control center. Ensuring the security of this vital data is paramount.
Autonomous trains are increasingly incorporating LiDAR and artificial intelligence (AI) technologies to enhance their performance. LiDAR, which stands for Light Detection and Ranging, plays a pivotal role in assessing moving train speed and track conditions, allowing for the evaluation of rail track quality. This system employs two pairs of lenses to capture speed signals individually from both train rails. It meticulously determines factors such as track speed, curvature, and variations in lateral and vertical geometry on each side of the rail.
AI, on the other hand, holds the potential to elevate the performance of automated metro lines through predictive maintenance, reducing incidents, and facilitating quicker recovery in case of disruptions. Traditionally, managing incidents at the control center involves time-consuming visual and voice interactions. AI minimizes these interactions, enabling traffic controllers to focus on addressing the core issues efficiently.
Leading companies in the autonomous trains market are dedicated to pioneering innovative products, particularly automatic trains, aimed at delivering reliable services to their customers. Automatic trains are characterized by their operation without human intervention, relying on an array of sensors and communication systems to monitor the train's position, speed, and critical data.
Key Topics Covered:
1. Executive Summary
2. Autonomous Trains Market Characteristics
3. Autonomous Trains Market Trends And Strategies
4. Autonomous Trains Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Autonomous Trains Market Size and Growth
5.1. Global Autonomous Trains Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Autonomous Trains Historic Market Size and Growth, 2018 2023, Value ($ Billion)
5.3. Global Autonomous Trains Forecast Market Size and Growth, 2023 2028, 2033F, Value ($ Billion)
6. Autonomous Trains Market Segmentation
6.1. Global Autonomous Trains Market, Segmentation By Train Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Suburban Trains
- Tram
- Monorail
- Subway/Metro
- Long Distance Trains
6.2. Global Autonomous Trains Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Automatic Train Control (ATC)
- Communication-Based Train Control (CBTC)
- European Railway Traffic Management System (ERTMS)
- Positive Train Control (PTC)
6.3. Global Autonomous Trains Market, Segmentation By Grade Of Automation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- GoA1
- GoA2
- GoA2
- GoA4
6.4. Global Autonomous Trains Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Passenger Train
- Freight
- Mining
7. Autonomous Trains Market Regional And Country Analysis
7.1. Global Autonomous Trains Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Autonomous Trains Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/qhj28u
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