PUBLISHER: The Business Research Company | PRODUCT CODE: 1465870
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465870
Railway energy management encompasses the strategies and technologies employed to optimize energy consumption and enhance efficiency in railway operations. This involves monitoring and controlling energy usage across trains, stations, and other railway infrastructure to reduce costs and minimize environmental impact. Utilizing smart energy management systems, regenerative braking systems, energy-efficient train designs, and integrating renewable energy sources are key components in achieving reduced energy consumption and greater sustainability in railway operations.
The main types of railway energy management include the rolling stock and systems segment, services segment, and software segment. The rolling stock and systems segment in the railway industry refer to the physical components and systems that constitute the trains themselves. Various technologies, such as insulated rail joints, voltage regulators, and energy storage systems, are utilized across different types of railways, including normal railways, electrified railways, monorail, and magnetic levitation (maglev).
The railways energy management market research report is one of a series of new reports from The Business Research Company that provides railways energy management market statistics, including railways energy management industry global market size, regional shares, competitors with an railways energy management market share, detailed railways energy management market segments, market trends and opportunities, and any further data you may need to thrive in the railways energy management industry. This railways energy management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The railways energy management market size has grown strongly in recent years. It will grow from $3,080.75 billion in 2023 to $3,344.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to factors such as the increasing demand for energy efficiency and sustainability, rising energy costs, urbanization and population growth, the demand for real-time monitoring, and financial incentives.
The railways energy management market size is expected to see strong growth in the next few years. It will grow to $4,423.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to environmental concerns, the need for cost reduction, aging infrastructure, increased rail freight and passenger traffic, and a focus on risk management. Key trends expected in the forecast period encompass technological advancements, the exploration of autonomous trains, the development of high-speed rails, the application of big data analytics, and the consideration of high initial investments.
The anticipated growth in rail freight and passenger traffic is set to drive the expansion of the railway energy management market. Rail freight transport involves the use of trains and railroads to transport cargo, while rail passenger transport entails moving passengers via rail vehicles on a designated rail network. Smart energy management systems, incorporating sensors and data analytics to optimize energy usage and streamline train operations, contribute to the development of energy-efficient railways. This strategic approach aids railways in complying with regulations and showcasing environmental responsibility. For example, in November 2023, the European Commission reported a significant 50.9% increase in rail passenger travel in the EU during 2022 compared to 2021. Consequently, the surge in demand for rail freight and passenger traffic is a key driver behind the growth of the railway energy management market.
Key players in the railway energy management market are at the forefront of developing innovative technologies, exemplified by solutions such as ecoStruxure rail, aimed at establishing a collaborative digital environment for safe, efficient, reliable, and sustainable metro rail operations. EcoStruxure Rail, an end-to-end digital solution, facilitates smart management, enhances electrical safety, and improves energy efficiency by up to 25%. This platform provides planning services for efficiency and safeguards system operations. For instance, Schneider Electric SE, a France-based energy management and automation company, launched EcoStruxure Rail in April 2021. The platform employs IoT technology to optimize energy consumption, integrate renewables, and recover braking energy, addressing critical challenges faced by the Indian metro-rail segment. EcoStruxure Rail encompasses solutions for traction power, signaling power, distribution power, and construction management, contributing to the safety, efficiency, and sustainability of metro rail systems.
In October 2023, Hitachi Rail, a UK-based transport solutions provider, completed the acquisition of Thales' Ground Transportation Systems (GTS) for $1.69 billion. This strategic move is aimed at strengthening Hitachi Rail's core signaling capabilities and expanding its turnkey offerings to new global markets. The acquisition positions Hitachi Rail as a formidable player in rail signaling and mobility, enhancing its global presence and advancing digital and Mobility as a Service (MaaS) capabilities. Thales' Ground Transportation Systems (GTS), a business unit of Thales Group, is a France-based company specializing in railway energy management solutions.
Major companies operating in the railway energy management market are Hitachi Ltd., Siemens AG, General Electric Co., Accenture plc, Deutsche Bahn AG, International Business Machines Corporation, Caterpillar Inc., Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., CRRC Corp. Ltd., ABB Ltd., Toshiba Corp., Mitsubishi Heavy Industries Ltd., Capgemini SE, Thales Group, Alstom SA, CSX Corporation, Knorr-Bremse AG, Wabtec Corp., Bombardier Inc., Cubic Corporation, The MathWorks Inc., Ingeteam Corp. S.A., REMC Limited
Europe was the largest region in the railways energy management market in 2023. The regions covered in the railway energy management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the railway energy management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The railway energy management market consists of revenues earned by entities by providing services such as energy auditing, energy monitoring, energy efficiency solutions, and renewable energy integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The railway energy management market also includes sales of sensors, data loggers, on-board energy management systems, and station energy management systems for managing energy usage in stations. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Railways Energy Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on railways energy management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for railway energy management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The railway energy management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.