LOS ANGELES, Jan. 14, 2019 (GLOBE NEWSWIRE) — According to a new report published by QY Research, the global railway signaling market is projected to attain a valuation of US$ 8,233.86 Mn by the end of 2025, expanding at a moderate CAGR of 5.65% during the forecast period 2017-2025. Titled “Global Railway Signaling Market Insights, Forecast to 2025,” the report mentions that the market was valued at a US$ 5,303.72 Mn in 2017. Rising investments in railway network expansion projects in developing countries such as China and Southeast Asian economies are foreseen to augment the demand in the market.
Global Railway Signaling Market: Drivers and Restraints
The need for safe and efficient railway operations is raising the level of investment in the upgrading of current signal controlling systems in developed countries. This is anticipated to bode well for the global railway signaling market.
In order to support their economic growth, developing countries are investing heavily in the expansion of railway and other transportation systems. Taking into consideration the growing number of commuters, major cities are increasing their investment in the expansion of metro rails. Such factors are predicted to benefit the global railway signaling market vis-à-vis growth.
Increasing standardization of railway signaling solutions is encouraging the development of standards-based, core global architectures. This can allow interoperability to provide a consistent platform for creating local solutions and meeting local safety needs in the railway sector. Vendors are envisaged to cash in on this opportunity to improve their sales in the global railway signaling market.
The demand for railway signaling systems is forecast to see a rise as a result of the increasing number of high-speed railway projects and growing requirement of advanced controlling systems in the railway sector.
However, expensive deployment cost and integration of smart solutions are foretold to challenge the global railway signaling market.
Global Railway Signaling Market: Forecast by Product and Application
On the basis of product, the global railway signaling market is segmented into ATC, PTC, and CBTC.
By application, the global railway signaling market is classified into outside the station and inside the station.
The authors of the report cover the growth rates, market shares, prices, revenues, production, and other factors of all of the segments mentioned above.
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Global Railway Signaling Market: Forecast by Region
The report sheds light on different geographies, viz. the MEA, Central and South America, Southeast Asia, India, Japan, China, Europe, and North America.
Europe and the U.S. are said to provide high-end products to the global railway signaling market. In terms of revenue share, Europe showed dominance in the market in 2017. Its share crossed 31.0% in the same year as North America followed closely.
Global Railway Signaling Market: Key Players
Some of the leading manufacturers of railway signaling products are CAF, Hitachi, Thales Group, Bombardier, and Alstom. As per the findings, Alstom is the largest manufacturer, which accounted for a more than 22.0% share of the global railway signaling market in 2017 on the basis of revenue.
The global railway signaling market shows a significantly concentrated nature. In 2017, the top 13 players of the market secured a close to 71.0% share in terms of revenue.
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