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Railway Braking System Market worth US$ 10,515.7 Million by 2027 – Exclusive Research by The Insight Partners

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Railway Braking System Market worth US$ 10,515.7 Million by 2027 – Exclusive Research by The Insight Partners

December 07
22:02 2021
Railway Braking System Market worth US$ 10,515.7 Million by 2027 - Exclusive Research by The Insight Partners
The Insight Partners
The Railway projects are also getting resumed. With business re-commencing, the Railway Braking System Market would be benefited gradually.

According to our latest market study on “Railway Braking System Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Pneumatic Brake, electrodynamics Brake, Mechanical Brake, and Electromagnetic Brake) and Train Type (Metros, Monorail, High-Speed Train, Light Rail/Trams, and Freight Train),” the market was valued at US$ 8,909.9 million in 2019 and is projected to reach US$ 10,515.7 million by 2027; it is expected to grow at a CAGR of 3.7% from 2019 to 2027.

Strategic Insights        

Report Coverage

Details

Market Size Value in

 US$ 8,909.9 Million in 2019

Market Size Value by

 US$ 10,515.7 Million by 2027

Growth rate

 CAGR of 3.7% from 2020-2027

Forecast Period

 2020-2027

Base Year

 2020

No. of Pages

 154

No. Tables

 56

No. of Charts & Figures

 74

Historical data available

 Yes

Segments covered

 Type and Train Type

Regional scope

 North America; Europe; Asia Pacific; Latin America; MEA

Country scope

 US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

 Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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In North America, companies offering railway braking system and manufacturing rail vehicles, such as Webtac Corporation, Bombardier Inc., are contributing toward strengthening the regional railway sector, which, in turn, would drive the market. Any product development or R&D for the future development of rail transit would contribute toward the adoption of complementary systems including braking systems in the region. Also, growing significance of high-speed rail is other aspect projected to contribute toward the adoption of railway braking system and thus, influencing the market growth.

Furthermore, the concept of automated and driverless vehicle is consistently making a huge transition in transport systems. The idea of autonomous driving is making its entry in the railway sector. In Europe, automatic train operation is becoming a latest trend impacting the railway sector of the region. In October 2019, six German companies, led by Siemens Mobility, started a joint project named “AStriD” – Autonome Straßenbahn im Depot” (Autonomous Tram in Depot). In this project, the participants would examine autonomous tram in automated depot. Such projects in the field of automation would help in boosting the integration of systems, such as railway braking systems. CLEARSY is engaged in offering automatic train braking systems which work without having train localization system and train location information. In this new system, only one beacon connected to a signal is installed for detecting train speed. 

Impact of COVID-19 Pandemic on Railway Braking System Market

The COVID-19 virus outbreak has been affecting every business globally since December 2019. Globally, the railway system market has a significant numbers of players. The technology and transportation industries are adversely affected due to COVID-19, and since the start of 2020, these industries have been reflecting declining trend. The pandemic has impacted supply of raw material, system/equipment, labor availability, working capital, and manufacturing. Building new rails, expansion projects of existing rail lines and constructing new rail lines, development of new rail systems as per newer technologies, station modernization, and procuring new rolling stock have witnessed decline during lockdown. 

Download the Latest COVID-19 Analysis on Railway Braking System Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00013125

Provision Environment Standards for Environment Safety

The railway transportation is majorly considered as a secure, safe, and economical mode of transportation when compared with road transportation. Pertaining to the factors, such as high precision and capability to cover maximum geographic area, the demand for trains among travelers is growing. Various systems are used in rails to ensure the safety of train, freight, and passengers; braking systems is one of these systems. Moreover, government projects—such as Dubai Route 2020 Metro—for building new rail infrastructure and increasing investments to expand train connectivity, are contributing toward the growth of the railway sector. There is a rise in demand of railways for freight transport. With increasing volume of packages and goods transported through railways, the number of trains is increasing. 

Railway Braking System Market: Type

Based on type, the pneumatic brake is expected to be the leading segment in the global railway braking system market during the forecast period. Pneumatic brakes were designed for metros or subways; however, with continuous technological developments, the pneumatic braking systems are getting familiar among specialized freight operations and main line passenger railways.

Railway Braking System Market: Competitive Landscape and Key Developments

ABB Ltd.; akebono brake industry Co., Ltd; Alstom SA; Amsted Rail; DAKO-CZ, A.S; Frenoplast; Knorr-Bremse AG; NABTESCO CORPORATION; SABRE RAIL SERVICES LTD.; and Wabtec Corporation are among the key players in the global Railway Braking System market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2019, Amsted Rail and Amsted Digital Solutions Exhibited at Railway Interchange 2019 to showcase IBEX truck mounted brake system and learn what makes it the most versatile, innovative, and cost-effective brake system.

In 2019, Sabre Rail Services Ltd won a contract to date by Network Rail for the overhaul of the brake systems on its fleet of 555 JNA ‘Falcon’ open box wagons.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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