Global Railway Couplers Market 2019-2023 | Adoption of IoT Boosts Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 27, 2018--The global railway couplers market research report by predicts the market to post a CAGR of more than 3% during the period 2019-2023.
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Technavio has released a new market research report on the global railway couplers market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global railway couplers market is the increasing demand for rail logistics due to the rise in trade activities. The factors promoting global trade through rail transport are the increased efficiency of rail transport, less traffic congestion when compared with highways, and growth of intermodal transport. Moreover, rail freight transport is about 4.5 to 6 times more fuel-efficient than road transport. The fuel efficiency of rail freight ranges between 150-520 ton-miles per gallon whereas the fuel efficiency of road freight ranges between 70-140 ton-miles per gallon.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the adoption of IoT in railways as one of the key trends in the global railway couplers market:
Global railway couplers market: Adoption of IoT in railways
Modern railway systems are widely adopting IoT technologies to control and manage technology and communications systems. The smart railway systems give trains the ability to sense their environment and provide the capability to react accordingly. These smart trains are a combination of geospatial mapping, smart vision systems, and network-centric reporting, which makes them fully autonomous in their operations.
“The railway industry will use these smart transportation systems that leverage a combination of technology, planning, and greater intelligence to harness data to provide better service and safer travel. With digital revolutions like IoT, it is easier and cheaper to offer efficient services such as asset utilization, reduced costs, better experience, and better operations,” says a senior analyst at Technavio for research on engineering tools.
Global railway couplers market: Segmentation analysis
This railway couplers market analysis report segments the market by product (semi-automatic railway couplers and automatic railway couplers) and geography (the Americas, APAC, and EMEA).
The semi-automatic railway couplers segment held the largest railway couplers market share in 2018, accounting for more than 97% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with around 38% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 11/27/2018 08:03 AM/DISC: 11/27/2018 08:03 AM