This global market research report presents a comprehensive segmentation of the energy management in railways by application (rolling stock and systems, services, and software) and by geography (APAC, Americas, and EMEA). The key vendors analyzed in this report are Alstom Transport, Bombardier, Toshiba, and Hitachi Railway.
Technavio has released a new market research report on the global energy management in railways, which is expected to grow at a CAGR of 12% between 2016 and 2020. The energy management in railways is gaining popularity with increasing awareness among consumers regarding energy efficiency. Since many railway companies across the world are adopting energy management systems and increasing the level of automation for the efficient management of railway infrastructures, the market for energy management in railways will grow rapidly during the forecast period. EMEA leads the global energy management market in railways, accounting for 45% of the total market share. The augmented demand for advanced rolling stock and energy-efficient components owing to increase in rail infrastructure projects, is the main reason for this region’s growth.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the railway vehicles are equipped with energy storage system (ESS) such as rechargeable batteries, electric double layer capacitors (EDLC), fuel cells, or flywheels, for better energy efficiency. Onboard energy storage system provides around 30% energy saving effects by restoring regenerative energy during braking and preventing regeneration cancelation problem of conventional railway vehicles. This has led to the introduction of several energy efficient light rail vehicles (LRVs) with onboard energy storage system, which will help effective energy management in the railways,” says Vishu Rai, Lead Analyst, Energy, Technavio Research.
Currently, the rolling stock and systems segment dominates this market and is estimated to account for more than 47% of the total market share by 2020. Factors like the advent of advanced technologies, such as train safety systems and power management systems, and development of new low-energy consuming devices will spur growth in this market segment during the forecast period.
The leading vendors in the global energy management in railways are Alstom Transport, Bombardier, Toshiba, and Hitachi Railway. This market is moderately competitive as there are only a few vendors that provide all components and services together in a package. The competitive business environment in the market is expected to intensify with an increase in product extensions and technological innovations. To survive and succeed in this market, it is imperative for vendors to distinguish their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Energy Management in Railways 2016-2020.
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