The indoor railway lighting market is valued at US$364.1 million
NEWARK, Del. Jan. 23, 2023 (GLOBE NEWSWIRE) — The Indoor railway lighting market It is expected to be worth $263.1 million in 2023 and is expected to be worth $364.1 million by 2033, at a compound annual growth rate of 3.30% between 2023 and 2033.
Growing population in urban centers, increasing urbanization, and increasing government requirements in establishing public transportation infrastructure such as metro trains, high-speed trains, and restored trains are some of the drivers driving the market.
The market is driven by technological advances and the expansion of rail networks around the world. Advancements in high-speed rail technology such as magnetic levitation and Hyperloop, as well as zero-emission hydrogen fuel cell technology are likely to drive the growth of the global market.
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Factors such as increased funding for railway expansion and growing demand for safe, reliable and efficient transportation systems are driving this target market forward. Moreover, increased use of public transportation services as a solution to traffic congestion is likely to boost growth in the market.
Increased investment in analytics systems by network operators in developed countries, as well as improvements aimed at enhancing the customer experience, are important drivers for the growth of the global industry.
Intelligent technologies such as advanced vehicle control systems, advanced PIS systems, and other systems provide real-time location information for vehicles, which can be used to monitor schedule compliance and provide passengers with information about the whereabouts of vehicles during transit. Providing accurate, real-time information on the status and location of passing vehicles is expected to enhance passenger satisfaction. Moreover, improvements in infrastructure in developing nations, as well as increased mining and industrial activity, create significant potential opportunities for market participants around the world.
Indoor railway lighting market the main points
- The market is expected to grow at the highest level by 2033, with a value of $364.1 million.
- LED is still in high demand among other categories.
- North America is the main region dominating the market with a share of 17.90%.
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- In February 2022, the 3000hp permanent magnet hybrid shunt locomotive developed by CRRC just completed 2000km of safe operation. The locomotive has been praised by consumers for its extremely low energy consumption and environmental protection when compared to a conventional diesel locomotive.
- In May 2022, Hitachi Railways introduced several new developments in automation and digitization, including PTC (Positive Train Control), telematics for rolling stock, and dispatch systems.
- In January 2022, Siemens created the new airless brake system, also known as the electronic friction brake system, which is the first fully electronically controlled friction brake to be deployed on railway cars (brake by wire). The braking system operates without the need for compressed air. In addition to many technological advantages, the new brakes reduce vehicle weight and increase vehicle speed.
- In December 2021, Alstom, in collaboration with Cylus, deployed an advanced railway cybersecurity solution on the Tel Aviv Red Line to further protect train signaling and control systems. CylusOne is a multi-layered railway cybersecurity solution powered by cutting-edge Al and ML technologies.
Major segments of the market for indoor railway lighting are:
By type of inventory:
- diesel locomotive
- electric locomotive
- Light rail / tram / monorail
- Passenger coaches
- freight cart
- Train interior lighting
- Exterior lighting for the train
- Cab lights
- Headlight training
- Train indicator lights
- LED spotlight train
- North Amarica
- Asia Pacific
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1. Executive summary
1.1 Global Market Outlook
1.2 Demand along with directions
1.3 Display along with directions
1.4 Technology Roadmap Analysis
1.5 Analysis and recommendations
2. Market overview
2.1. Market coverage/classification
2.2. Market definition/scope/constraints
3. Market background
3.1. Market dynamics
3.2 Scenario Predictions
3.2.1. demand in the optimistic scenario
3.2.2. demand in the likely scenario
3.2.3. demand in the conservative scenario
3.3 Opportunity Map Analysis
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