Communication-Based Train Control System Demand to Accelerate at 11.5% CAGR as Economies Increasing Funding towards Modernizing Railway Infrastructure

NEW YORK CITY, Oct. 27, 2021 /PRNewswire/ -- As per Fact.MR, the global communication-based train control (CBTC) system market is poised to surpass US$ 3.2 Bn in 2020. Increasing use of railway transportation as a time-saving, low-cost, and safe transportation option is anticipated to drive the market. NEW YORK CITY,Oct. 27, 2021/PRNewswire/ -- As per Fact.MR, theglobal communication-based train control (CBTC) system market  is poised to surpassUS$ 3.2 Bnin 2020. Increasing use of...

NEW YORK CITY, Oct. 27, 2021 /PRNewswire/ -- As per Fact.MR, the global communication-based train control (CBTC) system market is poised to surpass US$ 3.2 Bn in 2020. Increasing use of railway transportation as a time-saving, low-cost, and safe transportation option is anticipated to drive the market.

Sales of CBTC are slated to increase at a robust 11.5% CAGR over the forecast period (2021-2031), totaling US$ 10.4 Bn by 2031-end.

A significant rise in rail accidents has been witnessed over the last few years. According to a report by the National Crime Records Bureau, every day around 70 fatalities were reported across India due to train-related accidents in 2019.

The adoption of advanced technologies such as CBTC systems have surged in order to improve the efficiency of railway transportation and make it safer. Driven by this, sales of CBTC systems are estimated to more than triple through 2031.

Governments of various countries are investing extensively in the expansion of railway infrastructure. For instance, according to the India Brand Equity Foundation, the Government of India allocated US$ 15.19 billion to the Ministry of Railway to develop advanced railway infrastructure. Government funding towards integration of latest technologies in railway infrastructure will aid the overall expansion of the market.

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In terms of train type, the metro trains segment is projected to exhibit the highest growth, expanding at an impressive CAGR of 11.2% through 2031.

"Government emphasis on integrating advanced sensor-based technologies such as CBTC systems to enhance operational efficiency, safeguard cargos from theft, and reduce the number of train accidents is expected to bode well for the market," says a Fact.MR analyst.

Key Takeaways from the Communication-based Train Control System Market Study

Key Drivers

Key Restraints

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Competitive Landscape

As per Fact.MR, the top five companies in the global communication-based train control system market are estimated to account for more than 50% of the overall share by 2031.

Leading companies are focusing on adopting inorganic strategies such as agreement, collaboration, merger, and acquisition to enhance their product portfolio and increase their market share. For instance,

Some of the leading players in the market profiled by Fact.MR are:

More Valuable Insights on Communication-based Train Control System Market

Fact.MR, in its new report, offers insights into the global communication-based train control system market, forecasts sales projection for the assessment period 2021-2031. The study reveals scope of in communication-based train control system market across the segments:

Key Questions Covered in the Communication-Based Train Control System Market Report 

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