Urban Rail Transit Signaling Market: Introduction
The signaling system provide the means to efficiently
control train services, ensuring safety in train movements. It assists in
optimization of metro infrastructure investment and running of efficient train
services on the network.
Key Drivers of Urban Rail Transit Signaling Market
- Presently,
national urban public transport authorities and PPP policymakers of
several countries, especially developing countries in the world, are
trying to develop comprehensive PPP policy systems for urban public
transport, while the World Bank and the Asia Development Bank have also
been actively advocating the construction of public transportation such as
urban rail transit systems. This standard is estimated to provide the
policy framework and PPP model principles applied in the urban rail
transit sector, in line with the requirements of international
organizations and governments. The standard would try to standardize the
operation of urban rail transit PPP projects, reduce transaction costs,
and attract more private capital involvement in the construction of urban
rail transit projects. Therefore, this scenario is likely to boost new
urban rail transit project developments in the coming years; subsequently,
drive the demand for urban rail transit systems and consequently, propel
the urban
rail transit signaling market.
- In
the signaling segment, future investments in Western Europe to upgrade and
modernize signaling systems through the European Train Control System
(ETCS) national implementation plans across different countries are
estimated to propel the segment and boost the overall rail market
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Challenges in Urban Rail Transit Signaling Market
- A
significant proportion of urban rail transit business, at any given
period, relies on government agencies and other public institutions, which
have historically represented the vast majority of the value of the orders
that urban rail transit project handling company book annually. The amount
public institutions are able to invest and spend depends on complex
political and economic factors, which could vary from one fiscal year to
the next. Economic slowdown and public budgetary restrictions can cause a
decrease in infrastructure investments, delays in placing orders, and
delays in execution of contracts or payments, as well as a decrease in
fiscal and other incentive-based measures to impact research and
development expenses of the companies. Therefore, these factors hamper the
urban rail transit signaling market.
Opportunities in Urban Rail Transit Signaling Market
- The
rail industry is expecting positive change in the next few years due to
the digital industry revolution, especially in signaling and maintenance
services. Using disruptive technologies, such as Internet of things,
automated trains, and big data analytics, new business models are expected
to evolve especially toward more service-oriented approach. Consequently,
original equipment manufacturers are closely monitoring the eco-systems to
meet their future needs.
Asia Pacific to Dominate Urban Rail Transit Signaling
Market
- Based
on region, the global urban rail transit signaling market has been
segregated into North America, Asia Pacific, Europe, Latin America, and
Middle East & Africa
- Asia
Pacific is projected to be highly lucrative region of the global urban
rail transit market during the forecast period. This is primarily owing to
high urban transport infrastructure project investments by rapidly
developing countries in the region. Governments in the region are
committed to promoting public transport systems. Public transportation
infrastructure in India needs high levels of investment and massive
upgrading to spur a modal shift from private vehicles. It is estimated
that over 50% people in India would be residing in urban areas by 2050.
Metro rail is seen as a necessary solution for developing mass rapid
transit systems in India’s large cities. Therefore, these prospects offer
significant opportunity for the urban rail transit signaling market in the
region.
Key Players Operating in Urban Rail Transit Signaling
Market
The global urban rail transit signaling market is moderately
consolidated. A few of the key players operating in the global urban rail
transit signaling market are:
- Alstrom
- Siemens
- MER
MEC S.p.A
- Hitachi
- CRRC
Corp Ltd
- LARSEN
& TOUBRO LIMITED
- Kawasaki
Heavy industries
- Mitsubishi
Electric
- General
Electric
- Wabtec
Corporation
Global Urban Rail Transit Signaling Market: Research
Scope
Global Urban Rail Transit Signaling Market, by Component
- Continuous
Automatic Train Control
- communications-based
train control (CBTC)
- Interlocking
System
- Train
Depot Signaling
- Others
Global Urban Rail Transit Signaling Market, by Rail Type
- Metro
Rail
- Monorail
- Suburban
- Trams
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