NEWARK, Del, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The railway interior lighting market is expected to be worth US$ 263.1 million in 2023 and is predicted to be worth US$ 364.1 million by 2033, growing at a CAGR of 3.30% between 2023 and 2033.
The growing population in metropolitan centers, increasing urbanization, and increasing government requirements in creating public transportation infrastructure such as metro trains, high-speed trains, and restored trains, which are drivers driving the market.
The market is being driven by technological advancements and the expansion of rail networks around the world. High-speed rail technology advancements such as magnetic levitation and Hyperloop, as well as hydrogen fuel cell technology for zero-emission, are likely to drive global market growth.
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Factors such as increased funding for railway expansion and rising demand for safe, dependable, and efficient transportation systems are propelling this target market forward. Furthermore, increased use of public transportation services as a solution to traffic congestion is likely to boost growth in the market.
Increasing investment in analytics systems by network operators in developed nations, as well as improvements aimed at enhancing customer experience, are important driving factors for the growth of the global industry.
Smart technologies such as advanced vehicle control systems, advanced PIS, and other systems give real-time location information for cars, which can be used to monitor schedule compliance and provide passengers with information on the whereabouts of vehicles in transit. It is predicted that providing precise real-time information on the status and location of in-transit cars will boost passenger satisfaction. Furthermore, improvements in infrastructure in developing nations, as well as increased mining and industrial activity, create considerable potential opportunities for worldwide market participants.
Railway Interior Lighting Market Key Points
- The market is expected to grow highest by 2033, worth US$ 364.1 million.
- The demand for LED remains high among the other categories.
- North America is the key region that is dominating the market with a share of 17.90%.
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Recent Developments
- In February 2022, The CRRC-developed 3000 hp permanent magnet hybrid shunting locomotive just completed 2,000 kilometers of safe operation. Consumers praised the locomotive for its extraordinarily low energy consumption and environmental protection when compared to a traditional shunting diesel locomotive.
- In May 2022, Hitachi Rail introduced many new automation and digitalization advancements, including PTC (Positive Train Control), railcar telematics, and dispatching systems.
- In January 2022, Siemens created the new air-free brake system, also known as an electronic friction brake system, which is the first completely electronically controlled friction brake to be deployed in rail vehicles (brake-by-wire). The braking system operates without the need for compressed air. In addition to several technological advantages, the new brake reduces vehicle weight and increases vehicle speed.
- In December 2021, Alstom, in collaboration with Cylus, deployed an advanced rail cybersecurity solution on the Tel Aviv Red line to increase the protection of the line's signaling and train control systems. CylusOne is a multi-layered rail-specific cybersecurity solution powered by sophisticated Al and ML technologies.
Market Key Segments for Railway Interior Lighting -
By Technology:
- Halogen
- Xenon/HID
- Fluorescent
- LED
By Rolling Stock Type:
- Diesel Locomotive
- DMU
- Electric Locomotive
- EMU
- Metro
- Light Rail/Trams/Monorail
- Passenger Coaches
- Freight Wagon
By Position:
- Interior Train Lighting
- Exterior Train Lighting
By Application:
- Cabin Lights
- Train Headlights
- Train Indicator Lights
- Train LED Spotlights
- Others
By Region:
- North America
- Europe
- Asia Pacific
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand to side Trends
1.3. Supply to side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
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Explore Wide-ranging Coverage of FMI’s Automotive Landscape
Aircraft Cabin Interior Market Size : is forecast to grow at a CAGR of 2.70% by year 2031-end.
Automotive Lighting Market Share : is expected to grow at a CAGR of 6.3% by year 2031-end.
Global Automotive Interior Ambient Lighting System Market Demand : reaching a value of about US$ 4,660.0 Million by 2030-end.
Railway Coupler Market Growth : to grow from US$ 3,954.7 Million in 2023 to over US$ 5,687.2 Million by 2033.
Railway Rolling Stock Market Outlook : estimated to be around US$ 61,504.8 Million for the current year 2023.
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