Railway System Market Outlook (2023 to 2033)

The global railway system market is expected to grow forth at a CAGR of 4.8% during the period 2023 to 2033. The market is estimated at US$ 28,278.1 million as of 2023. By 2033, the market is expected to cross a valuation of US$ 45,192.2 million.

Some of the factors which are expected to support the market growth are:

  • Increased traffic on the roads.
  • Rapid urbanization has led to infrastructural development.
  • Introduction of integrated technologies, which reduce the size of the engine.
  • The surge in the demand for a secure transport system.

Surging urbanization worldwide has led to an increase in disposable income. This has led to an increase in the number of people who have started using their own vehicles. Consequently, road congestion has been getting worse, thereby causing a lack of efficiency offered by road infrastructure. This might well increase the demand for railway systems during the forecast period. Moreover, the advancement of the railway infrastructure and increased application of digital solutions are also expected to surge the market share.

Furthermore, massive investments from the ruling authorities and corporates worldwide are also expected to brighten up the prospects for the railway network the world. For example, in June 2022, the USA government announced over US$ 368 million to improve the rail infrastructure. Likewise, the Deutsche Bank, along with the federal and regional governments in Germany announced an investment of US$ 15.4 billion in February 2022.

Moreover, there are a lot of countries that are making use of renewable sources of energy. The intention behind adopting renewable sources of energy is to reduce pollution. Moreover, railway authorities in a lot of nations are set to develop green rail corridors in a bid to preserve the ecosystem. Most importantly, there are countries like India that have pledged to operate ‘Green Railways’ by electrifying all the routes before 2030. Such moves might well surge the sales of railway systems during the forecast period.

With the aviation sector getting massively impacted because of a surge in covid 19 cases, especially those pertaining to overseas, investors have started pouring money into railways. Furthermore, the load-bearing capacity in the case of railways is much higher as compared to airlines. Additionally, the fuel charge associated with the usage of the railway system is much lower as compared to airlines, which could further expand the railway network connection.

However, the development of railways and railway systems is a capital-intensive process. In addition to that, it takes a lot of time for the invested amount to recover. This is owing to the fact that the investment in a lot of cases goes up to billions. Moreover, a natural or man-made disaster may lead to the entire process going for a toss. These factors might challenge the growth of the market during the forecast period.

North America is expected to be the largest market for railway systems during the forecast period. North America also has the best railway system in the world. This can be attributed to the adoption of the latest technologies like IoT, AI, etc. which makes the entire process user-friendly. Apart from that, the presence of key manufacturers in the region is also expected to surge the market growth during the forecast period. Moreover, the massive growth of the E-commerce sector in the region also presents promising prospects. However, the Asia Pacific region is expected to exhibit the highest CAGR. Massive government initiatives and affordable fares are expected to be the major factors surging the growth.

Attributes Value
Railway System Market Value (2022) US$ 26,854.8 million
Railway System Market Value (2023) US$ 28,278.1 million
Railway System Market Forecast Value (2033) US$ 45,192.2 million
Railway System Market Expected CAGR (2023 to 2033) 4.8%

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Numbers Decoded: Historical CAGR (2018 to 2022) vs Anticipated CAGR

The application of the latest technologies and massive investments in Research and Development (R&D) has led to a surge in the market share of railway systems. Cheap fares and reliability are some of the most amazing benefits offered by the application railway systems to name a few. These factors have led to an increase in the CAGR. The historical CAGR for the market was 3%, and the anticipated CAGR is 4.8%. The short-term, medium-term, and long-term impact of various factors on the market can be given as follows:

  • Short-term (2023 to 2026): During this period, we might get to witness a lot of firms experimenting on the basis of R&D. This would certainly be possible through collaborative efforts. Quite recently, Alstom demonstrated fully autonomous driving of a shunting locomotive in the Netherlands.
  • Medium-term (2026 to 2029): At this point in time, the market might reap the benefits of consistent technological upgradation. AI is expected to be a basic necessity instead of being the talk of the town. It would assist the market in asset management, maintenance, and emergency notification. Moreover, the passengers would also benefit from advanced information systems, which would improve transportation services and passenger satisfaction.
  • Long-term (2029 to 2033): The focus would be more on the automation aspect. With the industry experiencing a lot of benefits because of R&D and technology, the key players would take the product/service a notch higher. The companies are expected to make use of robotic systems at a large scale for infrastructure cleaning. The companies are also expected to make use of drone technology for remote inspection.

Internet of Trains: The way ahead

The railway system market is expected to be driven by the increased adoption of the internet of trains. It is known to have a positive impact on reliability and safety. The condition-based monitoring which is offered by the internet of trains prevents delays because of track and train part failures. Additionally, the advanced analytics offered by the internet of trains allows the operators to derive data-based solutions. This would certainly help in fleet control and efficiency.

By making use of sensors, Bluetooth devices, and prediction railway software, the users could determine when to open and close rail crossings. This information is conveyed to the drivers through information systems, like mobile apps. The application of the internet of trains also provides a GPS tracking solution and provides a comprehensive overview of the fleet location. The rail services operators have greatly benefited from the internet of trains as the application has helped in determining early detection of potential failures.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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Automation: Infinite Problems one solution

Automation in the railway system is currently solving a lot of problems. With the evolution of the electronics and the mechanical sector, it is expected that things would get much easier using automation. The automation systems have been instrumental in controlling the speed of the train, thereby preventing accidents. Owing to this, energy consumption is also drastically reduced.

The railway systems can optimize routes and avoid problems through automation. This is done by communicating with other parts of the system. Some of the communication systems which work through automation are Bluetooth-based systems and GPS-based systems.

The automation is reliable to the extent that the railway devices that operate via automation can be used as the control centers for other automated systems as well. All these factors are expected to surge the adoption of the railway system.

Country-wise Insights

The new entrants in the railway system market are developing mobile communication systems, which are enhanced with 5G technology. This would assist in low-latency communication and high performance. Furthermore, they would also assist in the development of span train positioning, control, maintenance, and passenger data collection.

Passenger: This Czech-based A has been developing a platform that provides wi-fi connection and infotainment for railway passengers. The connectivity solution offered by passengers gives travelers access to onboard entertainment, news, as well as travel and accommodation information. Moreover, the connected solution offered by the Start-up support the train’s passenger information and ticketing systems, information pertaining to route, and CCTV.

In September 2022, Passenger presented at the Innotrans event and presented its advanced modular solution for 5G and wi-fi 6 connectivity and PIS controller.

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Passengers realise traveling through Train is better for Planet

Based on the application, the passenger transportation segment has the highest market share at 64.8%. Key players across the globe are on a mission to ensure that the trains they manufacture run on electricity. This is expected to reduce air pollution to a great extent. Furthermore, rail travel is less likely to back up because of adverse weather conditions, which is not the case with air travel. Apart from that, the number of travelers is expected to increase exponentially after the lockdown, which is further expected to surge the market share.

Low-latency communication and high performance is motto of the Start-ups

The new entrants in the railway system market are developing mobile communication systems, which are enhanced with 5G technology. This would assist in low-latency communication and high performance. Furthermore, they would also assist in the development of span train positioning, control, maintenance, and passenger data collection.

Passenger: This Czech-based A has been developing a platform that provides wi-fi connection and infotainment for railway passengers. The connectivity solution offered by passengers gives travelers access to onboard entertainment, news, as well as travel and accommodation information. Moreover, the connected solution offered by the Start-up support the train’s passenger information and ticketing systems, information pertaining to route, and CCTV.

In September 2022, Passenger presented at the Innotrans event and presented its advanced modular solution for 5G and wi-fi 6 connectivity and PIS controller.

Key Players look to develop meaningful partnerships to expand market share

The manufacturers are looking to enter into a strategic collaboration with key players from another niche. The idea is to ensure that the best possible service is provided to travelers through the process of knowledge sharing and technology exchange. In December 2022, Alstom entered into a strategic partnership with Arcada to modernize 66 km of the Romanian Cluj-Oradea railway line. Alstom will provide ERTMS level 2, digital traffic control solutions, and electrification, while Arcada will oversee civil works.

Some of the recent developments are:

  • In December 2022, Alstom and Air Products signed an MoU to introduce hydrogen trains in the Czech Republic.
  • In December 2022, ABB partnered with Boliden to reduce the carbon footprints of its industrial projects.
Company Description
ABB ABB is a technology leader in electrification and automation and enables a sustainable and resource-efficient future. The solutions offered by ABB connect the company’s know-how to optimize how things are manufactured, moved, and powered. By serving the market for more than a century, the company is committed to driving innovations that accelerate industrial transformation. ABB has been working in the areas of electrification, smart motion, process automation, robotics, and discrete automation. ABB’s purpose has been to enable a more sustainable and resource-efficient future with technology leadership in electrification and automation.
Alstom From high-speed trains, metros, and monorails, to turnkey systems, services, and infrastructure, Alstom has been providing the broadest portfolio. In 2021, the company was included in the Dow Jones Sustainability Indices, World and Europe, for the 11th consecutive time. The company has taken up the responsibility to support the transition to sustainable mobility solutions which is accessible. Alstom has been striving to develop efficient and sustainable solutions. Moreover, the company has been thriving by adopting a culture of diversity and integrity.
Hyundai Rotem Hyundai Rotem has been specializing in manufacturing rolling stock, military equipment, and plant engineering. The company has been into electric multiple units, high-speed trains, engine locomotives, wireless trams, and magnetic levitation trains. The company also specializes in developing trains powered by hydrogen fuel. Industrial wearable robot technology assists field workers at sites like automobile production lines and steel mills. Apart from that, Hyundai Rotem has also been developing smart unmanned weapon systems along with tanks and armored vehicles.

Other companies profiled: CRRC, Siemens, Thermo King, Knorr Bremese, Mitsubishi Heavy Industries, Toshiba, and Hitachi.

Railway System Market Segmentation

By Transit Type:

  • Conventional (Diesel Locomotive, Electric Locomotive, Electro-diesel Locomotive, Coaches),
  • Rapid (Diesel Multiple Unit, Electric Multiple Unit, Light Rail/Tram)

By Application:

  • Passenger Transportation,
  • Freight Transportation

By System Type:

  • Auxiliary Power System
  • Train Information System
  • Propulsion System
  • Train Safety System
  • HVAC System
  • On-board Vehicle Control

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

Frequently Asked Questions

What is the Market Size in 2023?

The market is valued at US$ 28,278.1 million in 2023.

What is the Primary Driver of the Railway System Market?

Increased traffic on the roads is the primary driver of the market.

What is the Expected Forecast Size of the Railway System Market in 2033?

The market is expected to reach US$ 45,192.2 million in 2033.

What was the Market Size in 2022?

The market was valued at US$ 26,854.8 million in 2022.

Who are the Key Railway System Market Players?

CRRC, Siemens, Thermo King, and Knorr Bremese are the key market players.

Table of Content
1. Executive Summary | Railway System Market
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Investment Feasibility Matrix
    3.5. PESTLE and Porter’s Analysis
    3.6. Regulatory Landscape
        3.6.1. By Key Regions
        3.6.2. By Key Countries
    3.7. Regional Parent Market Outlook
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ million) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ million) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Transit Type
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ million) Analysis By Transit Type, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Transit Type, 2023 to 2033
        5.3.1. Conventional
            5.3.1.1. Diesel Locomotive
            5.3.1.2. Electric Locomotive
            5.3.1.3. Electro-Diesel Locomotive
            5.3.1.4. Coaches
        5.3.2. Rapid
            5.3.2.1. Diesel Multiple Unit
            5.3.2.2. Electric Multiple Unit
            5.3.2.3. Light Rail/Tram
    5.4. Y-o-Y Growth Trend Analysis By Transit Type, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Transit Type, 2023 to 2033
6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By System Type
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ million) Analysis By System Type, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By System Type, 2023 to 2033
        6.3.1. Auxiliary Power System
        6.3.2. Train Information System
        6.3.3. Propulsion System
        6.3.4. Train Safety System
        6.3.5. HVAC System
        6.3.6. On-Board Vehicle Control
    6.4. Y-o-Y Growth Trend Analysis By System Type, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By System Type, 2023 to 2033
7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ million) Analysis By Application, 2018 to 2022
    7.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Application, 2023 to 2033
        7.3.1. Freight Transportation
        7.3.2. Passenger Transportation
    7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
    7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    8.1. Introduction
    8.2. Historical Market Size Value (US$ million) Analysis By Region, 2018 to 2022
    8.3. Current Market Size Value (US$ million) Analysis and Forecast By Region, 2023 to 2033
        8.3.1. North America
        8.3.2. Latin America
        8.3.3. Europe
        8.3.4. South Asia
        8.3.5. East Asia
        8.3.6. Oceania
        8.3.7. MEA
    8.4. Market Attractiveness Analysis By Region
9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    9.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    9.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        9.2.1. By Country
            9.2.1.1. The USA
            9.2.1.2. Canada
        9.2.2. By Transit Type
        9.2.3. By System Type
        9.2.4. By Application
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Transit Type
        9.3.3. By System Type
        9.3.4. By Application
    9.4. Key Takeaways
10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    10.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    10.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        10.2.1. By Country
            10.2.1.1. Brazil
            10.2.1.2. Mexico
            10.2.1.3. Rest of Latin America
        10.2.2. By Transit Type
        10.2.3. By System Type
        10.2.4. By Application
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Transit Type
        10.3.3. By System Type
        10.3.4. By Application
    10.4. Key Takeaways
11. Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    11.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Country
            11.2.1.1. Germany
            11.2.1.2. The United Kingdom
            11.2.1.3. France
            11.2.1.4. Spain
            11.2.1.5. Italy
            11.2.1.6. Rest of Europe
        11.2.2. By Transit Type
        11.2.3. By System Type
        11.2.4. By Application
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Transit Type
        11.3.3. By System Type
        11.3.4. By Application
    11.4. Key Takeaways
12. South Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1. India
            12.2.1.2. Malaysia
            12.2.1.3. Singapore
            12.2.1.4. Thailand
            12.2.1.5. Rest of South Asia
        12.2.2. By Transit Type
        12.2.3. By System Type
        12.2.4. By Application
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Transit Type
        12.3.3. By System Type
        12.3.4. By Application
    12.4. Key Takeaways
13. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. China
            13.2.1.2. Japan
            13.2.1.3. South Korea
        13.2.2. By Transit Type
        13.2.3. By System Type
        13.2.4. By Application
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Transit Type
        13.3.3. By System Type
        13.3.4. By Application
    13.4. Key Takeaways
14. Oceania Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    14.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    14.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Country
            14.2.1.1. Australia
            14.2.1.2. New Zealand
        14.2.2. By Transit Type
        14.2.3. By System Type
        14.2.4. By Application
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Transit Type
        14.3.3. By System Type
        14.3.4. By Application
    14.4. Key Takeaways
15. MEA Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    15.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
    15.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
        15.2.1. By Country
            15.2.1.1. GCC Countries
            15.2.1.2. South Africa
            15.2.1.3. Israel
            15.2.1.4. Rest of MEA
        15.2.2. By Transit Type
        15.2.3. By System Type
        15.2.4. By Application
    15.3. Market Attractiveness Analysis
        15.3.1. By Country
        15.3.2. By Transit Type
        15.3.3. By System Type
        15.3.4. By Application
    15.4. Key Takeaways
16. Key Countries Analysis
    16.1. The USA
        16.1.1. Pricing Analysis
        16.1.2. Market Share Analysis, 2022
            16.1.2.1. By Transit Type
            16.1.2.2. By System Type
            16.1.2.3. By Application
    16.2. Canada
        16.2.1. Pricing Analysis
        16.2.2. Market Share Analysis, 2022
            16.2.2.1. By Transit Type
            16.2.2.2. By System Type
            16.2.2.3. By Application
    16.3. Brazil
        16.3.1. Pricing Analysis
        16.3.2. Market Share Analysis, 2022
            16.3.2.1. By Transit Type
            16.3.2.2. By System Type
            16.3.2.3. By Application
    16.4. Mexico
        16.4.1. Pricing Analysis
        16.4.2. Market Share Analysis, 2022
            16.4.2.1. By Transit Type
            16.4.2.2. By System Type
            16.4.2.3. By Application
    16.5. Germany
        16.5.1. Pricing Analysis
        16.5.2. Market Share Analysis, 2022
            16.5.2.1. By Transit Type
            16.5.2.2. By System Type
            16.5.2.3. By Application
    16.6. The United Kingdom
        16.6.1. Pricing Analysis
        16.6.2. Market Share Analysis, 2022
            16.6.2.1. By Transit Type
            16.6.2.2. By System Type
            16.6.2.3. By Application
    16.7. France
        16.7.1. Pricing Analysis
        16.7.2. Market Share Analysis, 2022
            16.7.2.1. By Transit Type
            16.7.2.2. By System Type
            16.7.2.3. By Application
    16.8. Spain
        16.8.1. Pricing Analysis
        16.8.2. Market Share Analysis, 2022
            16.8.2.1. By Transit Type
            16.8.2.2. By System Type
            16.8.2.3. By Application
    16.9. Italy
        16.9.1. Pricing Analysis
        16.9.2. Market Share Analysis, 2022
            16.9.2.1. By Transit Type
            16.9.2.2. By System Type
            16.9.2.3. By Application
    16.10. India
        16.10.1. Pricing Analysis
        16.10.2. Market Share Analysis, 2022
            16.10.2.1. By Transit Type
            16.10.2.2. By System Type
            16.10.2.3. By Application
    16.11. Malaysia
        16.11.1. Pricing Analysis
        16.11.2. Market Share Analysis, 2022
            16.11.2.1. By Transit Type
            16.11.2.2. By System Type
            16.11.2.3. By Application
    16.12. Singapore
        16.12.1. Pricing Analysis
        16.12.2. Market Share Analysis, 2022
            16.12.2.1. By Transit Type
            16.12.2.2. By System Type
            16.12.2.3. By Application
    16.13. Thailand
        16.13.1. Pricing Analysis
        16.13.2. Market Share Analysis, 2022
            16.13.2.1. By Transit Type
            16.13.2.2. By System Type
            16.13.2.3. By Application
    16.14. China
        16.14.1. Pricing Analysis
        16.14.2. Market Share Analysis, 2022
            16.14.2.1. By Transit Type
            16.14.2.2. By System Type
            16.14.2.3. By Application
    16.15. Japan
        16.15.1. Pricing Analysis
        16.15.2. Market Share Analysis, 2022
            16.15.2.1. By Transit Type
            16.15.2.2. By System Type
            16.15.2.3. By Application
    16.16. South Korea
        16.16.1. Pricing Analysis
        16.16.2. Market Share Analysis, 2022
            16.16.2.1. By Transit Type
            16.16.2.2. By System Type
            16.16.2.3. By Application
    16.17. Australia
        16.17.1. Pricing Analysis
        16.17.2. Market Share Analysis, 2022
            16.17.2.1. By Transit Type
            16.17.2.2. By System Type
            16.17.2.3. By Application
    16.18. New Zealand
        16.18.1. Pricing Analysis
        16.18.2. Market Share Analysis, 2022
            16.18.2.1. By Transit Type
            16.18.2.2. By System Type
            16.18.2.3. By Application
    16.19. GCC Countries
        16.19.1. Pricing Analysis
        16.19.2. Market Share Analysis, 2022
            16.19.2.1. By Transit Type
            16.19.2.2. By System Type
            16.19.2.3. By Application
    16.20. South Africa
        16.20.1. Pricing Analysis
        16.20.2. Market Share Analysis, 2022
            16.20.2.1. By Transit Type
            16.20.2.2. By System Type
            16.20.2.3. By Application
    16.21. Israel
        16.21.1. Pricing Analysis
        16.21.2. Market Share Analysis, 2022
            16.21.2.1. By Transit Type
            16.21.2.2. By System Type
            16.21.2.3. By Application
17. Market Structure Analysis
    17.1. Competition Dashboard
    17.2. Competition Benchmarking
    17.3. Market Share Analysis of Top Players
        17.3.1. By Regional
        17.3.2. By Transit Type
        17.3.3. By System Type
        17.3.4. By Application
18. Competition Analysis
    18.1. Competition Deep Dive
        18.1.1. ABB Ltd.
            18.1.1.1. Overview
            18.1.1.2. Product Portfolio
            18.1.1.3. Profitability by Market Segments
            18.1.1.4. Sales Footprint
            18.1.1.5. Strategy Overview
                18.1.1.5.1. Marketing Strategy
        18.1.2. Alstom
            18.1.2.1. Overview
            18.1.2.2. Product Portfolio
            18.1.2.3. Profitability by Market Segments
            18.1.2.4. Sales Footprint
            18.1.2.5. Strategy Overview
                18.1.2.5.1. Marketing Strategy
        18.1.3. American Equipment Company
            18.1.3.1. Overview
            18.1.3.2. Product Portfolio
            18.1.3.3. Profitability by Market Segments
            18.1.3.4. Sales Footprint
            18.1.3.5. Strategy Overview
                18.1.3.5.1. Marketing Strategy
        18.1.4. Bombardier Inc.
            18.1.4.1. Overview
            18.1.4.2. Product Portfolio
            18.1.4.3. Profitability by Market Segments
            18.1.4.4. Sales Footprint
            18.1.4.5. Strategy Overview
                18.1.4.5.1. Marketing Strategy
        18.1.5. Calamp Corporation
            18.1.5.1. Overview
            18.1.5.2. Product Portfolio
            18.1.5.3. Profitability by Market Segments
            18.1.5.4. Sales Footprint
            18.1.5.5. Strategy Overview
                18.1.5.5.1. Marketing Strategy
        18.1.6. Construcciones y Auxiliar de Ferrocarriles
            18.1.6.1. Overview
            18.1.6.2. Product Portfolio
            18.1.6.3. Profitability by Market Segments
            18.1.6.4. Sales Footprint
            18.1.6.5. Strategy Overview
                18.1.6.5.1. Marketing Strategy
        18.1.7. CRRC Corporation Limited
            18.1.7.1. Overview
            18.1.7.2. Product Portfolio
            18.1.7.3. Profitability by Market Segments
            18.1.7.4. Sales Footprint
            18.1.7.5. Strategy Overview
                18.1.7.5.1. Marketing Strategy
        18.1.8. Fuji Electric
            18.1.8.1. Overview
            18.1.8.2. Product Portfolio
            18.1.8.3. Profitability by Market Segments
            18.1.8.4. Sales Footprint
            18.1.8.5. Strategy Overview
                18.1.8.5.1. Marketing Strategy
        18.1.9. General Electric Company
            18.1.9.1. Overview
            18.1.9.2. Product Portfolio
            18.1.9.3. Profitability by Market Segments
            18.1.9.4. Sales Footprint
            18.1.9.5. Strategy Overview
                18.1.9.5.1. Marketing Strategy
        18.1.10. Hitachi Ltd.
            18.1.10.1. Overview
            18.1.10.2. Product Portfolio
            18.1.10.3. Profitability by Market Segments
            18.1.10.4. Sales Footprint
            18.1.10.5. Strategy Overview
                18.1.10.5.1. Marketing Strategy
        18.1.11. Hyundai Rotem Company
            18.1.11.1. Overview
            18.1.11.2. Product Portfolio
            18.1.11.3. Profitability by Market Segments
            18.1.11.4. Sales Footprint
            18.1.11.5. Strategy Overview
                18.1.11.5.1. Marketing Strategy
        18.1.12. Ingeteam Power Technology
            18.1.12.1. Overview
            18.1.12.2. Product Portfolio
            18.1.12.3. Profitability by Market Segments
            18.1.12.4. Sales Footprint
            18.1.12.5. Strategy Overview
                18.1.12.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology

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