Railways
- The world railway network spans over 1.3mn route kilometers worldwide.
- The rail industry comprises of sale, manufacture, and operation of railway technology. Rail transportation, primarily consisting of freight shipments and passenger service, plays a vital role in the economy of many countries.
- The world railway industry is chugging along with positive growth projections and a focus on sustainability.
Overview
- Market Size:
- The global railway systems market is valued at $25.1 billion in 2022 and is expected to grow to $30.9 billion USD by 2030, reflecting a Compound Annual Growth Rate (CAGR) of approximately 4.2% from 2023.
- Challenges;
- Ageing infrastructure.
- Competition
- Safety and security