Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Railway Energy Management Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global railways energy management market has grown strongly in recent years. It will grow from $3.08 trillion in 2023 to $3.34 trillion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to factors such as the increasing demand for energy efficiency and sustainability, rising energy costs, urbanization and population growth, the demand for real-time monitoring, and financial incentives.
The railways energy management market is expected to see strong growth in the next few years. It will grow to $4.42 trillion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to environmental concerns, the need for cost reduction, aging infrastructure, increased rail freight and passenger traffic, and a focus on risk management.
Key trends expected in the forecast period encompass technological advancements, the exploration of autonomous trains, the development of high-speed rails, the application of big data analytics, and the consideration of high initial investments.
The anticipated growth in rail freight and passenger traffic is set to drive the expansion of the railway energy management market. For example, in November 2023, the European Commission reported a significant 50.9% increase in rail passenger travel in the EU during 2022 compared to 2021. Consequently, the surge in demand for rail freight and passenger traffic is a key driver behind the growth of the railway energy management market.
Key players in the railway energy management market are at the forefront of developing innovative technologies, exemplified by solutions such as ecoStruxure rail, aimed at establishing a collaborative digital environment for safe, efficient, reliable, and sustainable metro rail operations. EcoStruxure Rail, an end-to-end digital solution, facilitates smart management, enhances electrical safety, and improves energy efficiency by up to 25%. This platform provides planning services for efficiency and safeguards system operations. For instance, Schneider Electric SE, a France-based energy management and automation company, launched EcoStruxure Rail in April 2021. The platform employs IoT technology to optimize energy consumption, integrate renewables, and recover braking energy, addressing critical challenges faced by the Indian metro-rail segment. EcoStruxure Rail encompasses solutions for traction power, signaling power, distribution power, and construction management, contributing to the safety, efficiency, and sustainability of metro rail systems.
In October 2023, Hitachi Rail, a UK-based transport solutions provider, completed the acquisition of Thales' Ground Transportation Systems (GTS) for $1.69 billion. This strategic move is aimed at strengthening Hitachi Rail's core signaling capabilities and expanding its turnkey offerings to new global markets. The acquisition positions Hitachi Rail as a formidable player in rail signaling and mobility, enhancing its global presence and advancing digital and Mobility as a Service (MaaS) capabilities. Thales' Ground Transportation Systems (GTS), a business unit of Thales Group, is a France-based company specializing in railway energy management solutions.
Europe was the largest region in the railways energy management market in 2023. The regions covered in the railway energy management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the railway energy management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
Markets Covered:
1) By Type: Rolling Stock And Systems Segment; Services Segment; Software Segment
2) By Technology: Insulated Rail Joints; Voltage Regulators; Energy Storage Systems
3) By Application: Normal Railways; Electrified Railways; Monorail; Magnetic Levitation (MagLev)
Key Companies Mentioned: Hitachi Ltd.; Siemens AG; General Electric Co.; Accenture plc; Deutsche Bahn AG
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $3.34 Trillion |
| Forecasted Market Value (USD) by 2028 | $4.42 Trillion |
| Compound Annual Growth Rate | 7.2% |
A selection of companies mentioned in this report includes, but is not limited to:
- Hitachi Ltd.
- Siemens AG
- General Electric Co.
- Accenture plc
- Deutsche Bahn AG
- International Business Machines Corporation
- Caterpillar Inc.
- Cisco Systems Inc.
- Schneider Electric SE
- Honeywell International Inc.
- CRRC Corp. Ltd.
- ABB Ltd.
- Toshiba Corp.
- Mitsubishi Heavy Industries Ltd.
- Capgemini SE
- Thales Group
- Alstom SA
- CSX Corporation
- Knorr-Bremse AG
- Wabtec Corp.
- Bombardier Inc.
- Cubic Corporation
- The MathWorks Inc.
- Ingeteam Corp. SA
- REMC Limited
For more information about this report visit https://www.researchandmarkets.com/r/ldlpuj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
