Autonomous Trains Market Growth Analysis With Investment Opportunities For 2024-2033
Autonomous Trains Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
LONDON, GREATER LONDON, UK, August 22, 2024 /EINPresswire.com/ -- The global autonomous trains market2 has seen robust growth in recent years and is projected to continue its upward trajectory. The market size increased from $9.79 billion in 2023 to $10.54 billion in 2024, at a compound annual growth rate (CAGR) of 7.7%. This growth during the historic period can be attributed to factors such as enhanced rail safety and efficiency, increased budget allocations for railway expansion, reduced pollution and accidents, higher passenger capacity, and significant improvements in railway infrastructure.
The autonomous trains market is expected to reach $14.62 billion by 2028, growing at a CAGR of 8.5% during the forecast period. This growth will be driven by advancements in automation technology, ongoing global infrastructure projects, urbanization, population growth, and increasing awareness about the rising levels of tailpipe emissions and the scarcity of trained drivers. Major trends expected during this period include enhanced connectivity and communication, improved energy efficiency, interoperability, predictive maintenance, and the expansion of autonomous metro systems.
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Rising Train Accidents Fueling Growth Of Autonomous Trains Market
The increasing frequency of train accidents is expected to propel the growth of the autonomous trains market. Autonomous trains have the capability to prevent accidents caused by driver fatigue or inattention, as they constantly monitor their surroundings and can take evasive actions to avoid obstacles. For example, in July 2023, the National Safety Council reported a 954 railway-related deaths in the US in 2022, an 11% increase from the previous year. As a result, the demand for autonomous trains, which enhance safety by mitigating such risks, is likely to rise.
Geographical Insights: Western Europe Leading the Market
Western Europe was the largest region in the autonomous trains market in 2023, with Asia-Pacific being the second largest. The autonomous trains market covered in this report is segmented into the following categories:
Segments:
• By Train Type: Suburban Trains, Tram, Monorail, Subway/Metro, Long Distance Trains
• By Technology: Automatic Train Control (ATC), Communication-Based Train Control (CBTC), European Railway Traffic Management System (ERTMS), Positive Train Control (PTC)
• By Grade of Automation: GOA1, GOA2, GOA3, GOA4
• By Application: Passenger Train, Freight, Mining
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Autonomous Trains Global Market Report 20243 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Autonomous Trains Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on autonomous trains market size, autonomous trains market drivers and trends, autonomous trains market major players, autonomous trains competitors' revenues, autonomous trains market positioning, and autonomous trains market growth across geographies. The autonomous trains market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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