Autonomous Train Market Overview
The autonomous train market is expected to reach USD 10,222.75 million by 2026 registering a CAGR of 5.61% during the forecast period (2021-2026). The rising concerns over emissions and the need for using public transportation and pooling is expected to help the trains market grow. Increasing electrification across the global transportation industry irrespective of the mode of transport has led to the development of automated transport methods and trains have been at the forefront of transport automation after road transport. In addition, the increasing need for efficiency and safety can drive the existing railway operators towards automation. Technology advancement is expected to accelerate rail mobility gradually in improving the adoption rate of autonomous trains in North America.
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Autonomous Train Market – Geographical Overview
Asia-Pacific region is likely to witness significant growth during the forecast period
Asia-Pacific region has one of the largest rail networks across the world owing to the presence of major countries, such as India, China, and Japan. In addition, public transportation is also very popular in these countries, such as in India, where people often travel by metro for daily commuting. Due to this, the railway network plays a very significant role in the economic development of countries in Asia-Pacific. For instance, the installed base of metro-rail rolling stock in India is expected to increase to 5,458 railcars by 2023, owing to huge demand for commuter transportation in metropolitan cities. A total of 3,343 railcars are planned to be added to the metro-rail network, over a period of five years from 2018 to 2023. New rail projects for urban passenger transportation, as well as for the replacement and maintenance of the existing fleet, are expected to drive the market in these countries.
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Mordor Intelligence has segmented the global autonomous train market on the basis of automation grade, technology, application, and geography:
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