Train door systems market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio
NEW YORK, Feb. 7, 2023 /PRNewswire/ -- According to Technavio, the global train door systems market size is estimated to grow by USD 2,183.95 million from 2023 to 2027. The market is estimated to grow at a CAGR of almost 4.9% during the forecast period. APAC will account for the largest share of the global market during the forecast period.
Global train door systems market - Five Forces The global cloud data warehouse market is fragmented, and the five forces analysis covers?
Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
Interpretation of porter's five models helps to strategize the business, for entire details ? buy the report!
Global train door systems market ? Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global train door systems market - Segmentation Assessment
Segment Overview Technavio has segmented the market based on products (Electrical train door systems, Pneumatic train door systems, and Manual train door systems), and applications (Entrance doors and Internal doors).
The electrical train door systems segment will account for a significant share of the global market during the forecast period. Some of the advantages of adopting an electrical train door system include advanced power electronics and software technology to provide safety, accurate obstruction detection, and simplified installation as well as easy maintenance and inspection. Therefore, factors like these are expected to boost segment growth during the forecast period.
Geography Overview By geography, the global train door systems market is segmented into Europe, APAC, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global train door systems market.
APAC is estimated to account for 38% of the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors in Europe. Several countries in Europe are upgrading their railway infrastructure with new advanced safety systems and more efficient monitoring systems. The investments are aimed at introducing new railway networks and developing existing ones. In Western Europe, where railway infrastructure is highly developed, most of the investment is aimed at improving the old railway infrastructure. Therefore, this will raise the demand for train door systems in Europe during the forecast period.
Global train door systems market ? Market Dynamics Key factor driving market growth
The need for upgradation and modernization of railway infrastructure is notably driving the market growth.
The continuous use of railways and the demand for improved services by customers have increased the need for new infrastructure. Hence, many railway operators are undertaking upgrade and modernization activities for their railway infrastructure.
These activities are not only aimed at replacing old assets with new ones but also adding new systems with improved safety features and monitoring facilities.
Therefore, the modernization of the railway network offers opportunities to the vendors in the market as end-users involved in modernization and upgrades are aiming to install more advanced systems.
Such investments will raise the demand for rolling stock and the components of rolling stock, such as train seating, train doors, and train control system solutions which in turn will boost the growth of the global market in focus during the forecast period.
Leading trends influencing the market
The rise in the use of automation and IoT in railways is an emerging trend in the market.
Railway systems are adopting automation and IoT to control and manage technology and communications systems. Smart railway systems give trains the ability to sense their environment and react accordingly.
The railway industry of the future is expected to rely on these smart transportation systems that leverage a combination of technology, planning, and greater intelligence to harness data, which will be used to provide better service and safer travel.
As technologies such as IoT are becoming mainstream, it is getting easier and more inexpensive to provide efficient services such as asset utilization, reduced costs, better experience, and better operations.
Along with the information technology (IT) sector, engineering, maintenance, door system, signaling, communications, and ticketing sectors are also using this technology. Hence, such factors will boost the growth of the global market during the forecast period.
Major challenges hindering the market growth
The high entry barriers are major challenges impeding the market.
Train door systems have a life cycle of around 17-25 years. Once a system is installed in a rail vehicle, it cannot be replaced until or unless there is a fault in the system.
Therefore, initial investment and maintenance costs for train door systems will be high, and this will restrict customers from switching to or experimenting with products offered by new players.
When big players go for long-term contracts with suppliers, it makes them reduces the bargaining power of the suppliers, but this is not the case for small vendors.
Moreover, the payment by the customer happens only after the installation of the system, so vendors are required to bear the complete capital investment and operating expenses.
This makes it difficult for a new vendor to invest such huge capital without any immediate returns, which may restrain the growth of the global market in focus during the forecast period.
The bullet train and high-speed rail market size are expected to increase to 1106.31 actual units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.26%. This report extensively covers market segmentation by application (Passenger and freight), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The size of the automatic doors marketis expected to increase by USD 1.24 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.46%. This report extensively covers market segmentation by product (sliding doors, swing doors, folding doors, revolving doors, and others) and geography (Middle East and Africa, Europe, North America, APAC, and South America).
Train Door Systems Market Scope
Report Coverage
Details
Page number
159
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 4.9%
Market growth 2023-2027
USD 2,183.95 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
4.7
Regional analysis
Europe, APAC, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 38%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Allegion Access Technologies, Doorspec Inc., EKE Electronics Ltd., Elmesy Ltd., Fuji Electric Co. Ltd., igus GmbH, Imfuyo, IMI Norgren Herion Pvt. Ltd., Kalsi Automatic Door System, Knorr Bremse AG, Meiller Aufzugturen GmbH, Nabtesco Corp, Pars Komponenty, Polarteknik Oy, Schaltbau Holding AG, Siemens AG, Tamware Oy AB, Ultimate Europe Transportation Equipment GmbH, Westinghouse Air Brake, and PSI Technologies Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global train door systems market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global train door systems market 2017 - 2021 ($ million)
Exhibit 153: Schaltbau Holding AG - Business segments
Exhibit 154: Schaltbau Holding AG - Key offerings
Exhibit 155: Schaltbau Holding AG - Segment focus
12.16 Ultimate Europe Transportation Equipment GmbH
Exhibit 156: Ultimate Europe Transportation Equipment GmbH - Overview
Exhibit 157: Ultimate Europe Transportation Equipment GmbH - Product / Service
Exhibit 158: Ultimate Europe Transportation Equipment GmbH - Key offerings
12.17 Westinghouse Air Brake
Exhibit 159: Westinghouse Air Brake - Overview
Exhibit 160: Westinghouse Air Brake - Business segments
Exhibit 161: Westinghouse Air Brake - Key news
Exhibit 162: Westinghouse Air Brake - Key offerings
Exhibit 163: Westinghouse Air Brake - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 164: Inclusions checklist
Exhibit 165: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 166: Currency conversion rates for US$
13.4 Research methodology
Exhibit 167: Research methodology
Exhibit 168: Validation techniques employed for market sizing
Exhibit 169: Information sources
13.5 List of abbreviations
Exhibit 170: List of abbreviations
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