According to a new market report published by Acute Market Reports “Railway Signaling Systems Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2018 - 2028,” the global market for railway signaling systems expected to witness considerable growth with increasing investments particularly in railway network expansion projects in emerging markets such as India, China, Southeast Asia, and other countries across the world. Developed markets are increasingly investing in upgrading their existing signal controlling systems for more efficient and safe railway operations. Emerging countries are investing in the expansion of their railway and other transportation networks in order to support their economic growth. In addition, major cities are also investing in metro rail expansion due to rising numbers of commuters. All these factors are expected to increase the demand for railway signaling systems throughout the forecast period from 2020 to 2028. The global railway signaling systems market was valued at US$ 9.68 Bn in 2019 and is expected to grow at a CAGR of 9.5% over the forecast period from 2020 to 2028. 

In 2019, the communication-based train control system accounted for the largest revenue share in the global railway signaling systems market. However, European Train Controlling System (ETCS) is steadily gaining popularity in the global market and is expected to witness the fastest growth throughout the forecast period. As of 2019, more than 20 countries across the world have deployed European Train Controlling System (ETCS) for their major railway networks in the country. Some major countries which are currently using this technology include Australia, Germany, France, United Kingdom, China, and Italy among others. India has recently announced to deploy European Train Controlling System (level II) over 60,000 Km broad-gauge railway network in the country. This advanced signaling system will use wireless technology to continuously update the controlling authority in a loco cab.

Browse the full report at https://www.acutemarketreports.com/report/railway-signalling-systems-market

North America and Europe represent established markets for advanced railway signaling systems and most of the railway routes in major countries in these regions are already equipped with advanced signal controlling systems. The market for railway signaling systems in these regions expected to witness the steady growth of new railway network expansion projects. The Asia Pacific and the Middle East are expected to witness significant growth with both expansions of railway network projects and deployment of advanced signaling systems on existing railway networks. China is the most attractive individual market for railway signaling systems as it has planned to expand its railway network to 150,000 Km by 2020 which is a 24% increase in its railway network in 2015. Around 58% of this total expansion is expected in the high-speed rail network. 

The global railway signaling systems market is dominated by established players in the market such as SIEMENS AG, Hitachi Ltd, Thales Group, and other players. Global manufacturers are feeling the heat from Chinese manufacturers with the introduction of advanced solutions and consistent recognition by end-users on the global platform. Recently, China’s state-owned company, China Railway Signal, and Communication Co, Ltd awarded projects in the Gulf and Africa to develop high-speed railway networks in these regions. 

The Global Railway Signaling Systems Market is Segmented into:

*Complete segmentation list is on a report page