Global Autonomous Train Market to Reach US$ 14.3 Billion by 2032, Propelled by Increasing Automation in Transportation Industry

March 10, 2022 | Automotive Industry

The latest report by IMARC Group, titled “Autonomous Train Market Report by Component (Camera, Accelerometer, Odometer, Tachometer, Radio set, and Others), Train Type (Metro/Monorail, Light Rail, High-Speed Rail/Bullet Train), Automation Grade (GoA 1, GoA 2, GoA 3, GoA 4), Technology (CBTC, ERTMS, ATC, PTC), Application (Passenger Train, Freight Train), and Region 2024-2032,” finds that the global autonomous train market size reached US$ 9.0 Billion in 2023. Autonomous trains, also known as driverless trains, are locomotives operated automatically without any human intervention. They are monitored from a control station that manages the arrival, departure, movement, and automatic halting of the trains. These trains are equipped with advanced technology, such as artificial intelligence, sensors, and software, that state the exact position and speed, detect obstacles on the track and monitor the surroundings. Compared to manually controlled trains, autonomous trains provide enhanced system efficiency, improved acceleration capabilities, and reduced ongoing operational costs while providing consistent train speed and safety. 

Global Autonomous Train Market Trends:

The market is primarily driven by the increasing electrification and automation in the transportation industry. In addition, the growing need for safe, secure, and efficient transport systems is escalating the demand for autonomous trains. These trains run on ground and underground levels, and are secured by walls and fences to prevent trespassing and fatalities. Besides this, key players are integrating advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI) solutions, with railway systems to improve the overall efficiency of various systems. This, coupled with the rising budget for the development of railways, is positively influencing the market growth. Moreover, there has been widespread adoption of communications-based train control (CBTC) technology to reduce the time intervals between trains. Furthermore, a significant development in railway infrastructure, the implementation of various government initiatives to improve public transportation systems, and the rising environmental consciousness among the masses are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 14.3 Billion by 2032, expanding at a CAGR of 5.16% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the component, the market has been segmented into camera, accelerometer, odometer, tachometer, radio set, and others. 
  • Based on the train type, the market has been classified into metro/monorail, light rail, and high-speed rail/bullet train.
  • On the basis of the automation grade, the market has been categorized into GoA 1 GoA 2, GoA 3, and GoA 4. 
  • Based on technology, the market has been segregated into CBTC, ERTMS, ATC, and PTC. 
  • On the basis of the application, the market has been bifurcated into passenger and freight trains. 
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being ABB Ltd., Alstom SA, Belden Inc., Bombardier Inc., CAF Construcciones y Auxiliar de Ferrocarriles S.A., CRRC Corporation Limited, General Electric Company, Hitachi Ltd., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, and Thales Group.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Autonomous Train Market to Reach US$ 14.3 Billion by 2032, Propelled by Increasing Automation in Transportation Industry
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