Railway System Market

CRRC (China) and Bombardier (Canada) are the Leading player in the Railway System Market

The railway system market is projected to grow from USD 26.0 billion in 2019 to USD 35.3 billion by 2025, at a CAGR of 5.2%. Increase in user preference for public transportation and growing demand for energy-efficient transport are driving the railway system market.

Some of the key players in the railway system market are CRRC (China), Bombardier (Canada), Alstom (France), ABB (Switzerland), Siemens (Germany), General Electric (US), Hyundai Rotem (South Korea), Mitsubishi Heavy Industries (Japan), Toshiba (Japan), Hitachi (South Korea). New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the railway system market.

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CRRC (China) is a leading player in the railway system market. In January 2019, CRRC signed contracts with China Railway Corporation, Costa Rica National Railway Administration, Chile’s National operator EFE, Chengdu Jiaotou Railway Investment Group Co., Ltd., SBS Transit, and Singapore and Hunan Intercity Co., Ltd. for EMUs, locomotives, power-concentrated EMUs, and metro vehicle renovation.

In February 2018, CRRC introduced the latest generation of small- and medium-capacity straddle-type monorail trains. The straddle-type monorail won the favor of many cities for its small floor area, high climbing capacity, and energy-saving and environmental protection features. In April 2017, CRRC acquired a metro car order from Nagpur, India. A total of 69 metro cars would be produced by CRRC Dalian for subway operations in Nagpur, India, according to an agreement signed by the company and the local subway company Nagpur Metro Rail Corporation Ltd (NMRCL).

Bombardier (Canada) adopted the strategy of supply contract to strengthen its market position. In December 2018, Bombardier received an order for 47 Francilien train sets (334 cars) from the French national railway corporation, Société nationale des chemins de fer français (SNCF) on behalf of the Greater Paris public transport authority, Île-de-France Mobilités. The order, a call-off from a contract signed in 2006 with SNCF for a maximum of 372 trains, is valued at approximately EUR 330 million (USD 378 million). In August 2017, Bombardier signed a contract with London Underground (LU) to supply new motors and traction control equipment for its fleet of central line trains. This contract will commence and run until 2024 and is valued by Bombardier at approximately USD 148.89 million (GBP 112.1 million).

Related Reports:

Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, On-board Vehicle Control, Train Information & Train Safety), Transit Type (Conventional & Rapid), Application (Passenger & Freight Transportation),& Region- Global Forecast to 2025

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Report Code
AT 7019
RI Published ON
4/4/2019
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