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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Train Market Growth
The global rail industry accounted for around 1.1 billion tons of carbon emissions in 2022. As concerns for environmental protection intensify, the sector is boosting its commitment to sustainable practices. In 2023, over 10,000 electric trains were globally in operation. Multiple stakeholders are enhancing their investments to produce emissions-free trains. For instance, as a part of its commitment to reduce carbon emissions by 50% by 2030, the European Investment Bank is investing EUR 39 trillion towards the development of its railways.
The United Kingdom’s watchdog for British transport users, Transport Focus, suggests that over 80% of passengers feel safe when travelling by train. However, the mounting incidences of train accidents in 2022 have necessitated investments in the development of cutting-edge safety technologies like automatic train protection systems to minimise the risk of loss of human lives and enhance the safety of travelling.
Digitalisation is reshaping the future of the railway industry by providing opportunities for various data-driven enhancements. This includes the use of AI-powered cameras for detecting anomalies in railway tracks and promptly notifying railway operators to bolster their security measures to prevent train accidents. Moreover, AI tools can be used to analyse passenger behaviour and optimise train schedules, thereby boosting the travelling experience of passengers.
Train Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached nearly USD 71.82 billion in 2023.
The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 98.74 billion in 2032.
The different distribution channels in the market are online and offline.
The different regions covered in the market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are Amtrak Corporation, Deutsche Bahn AG, SNCF Group, East Japan Railway Company, Italian State Railways, ÖBB Group, Via Rail Canada Inc., Korea Railroad Corporation, Central Japan Railway Company, and Greater Anglia, among others.
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