The global train and components
manufacturing market, a part of the transportation manufacturing industry, grew
at a compound annual growth rate (CAGR) of around 4% during the historic period.
The transportation manufacturing industry showed a steady growth. The growth is
mainly due to increasing demand for passenger and commercial vehicles mainly
due to strong economic activity in developing countries increasing rates of
urbanization and large influence of globalization.
In the forecast period, the global
train and components manufacturing market size is expected to be over $182
billion by 2021, growing at a CAGR of nearly 5%. This is expected due to the expected
increase in demand for rail transportation, particularly in developing
countries. Global trends in urbanization are expected to provide opportunities
to invest in rapid transit modes such as metro, to reduce crowding and to
improve predictable transit times.. Furthermore, rising population, increase in
dispensable income, and increasing per capita incomes are expected to drive the
global train and components manufacturing market in the future.
Find TBRC’s report on the train and components manufacturing
market: https://www.thebusinessresearchcompany.com/report/train-and-components-manufacturing-global-market-report-2018
Train and components
manufacturers are implementing both AR and VR technologies to enable train
component manufacturing companies to assess the performance of components and
identify and minimize the defects faster, thereby enabling manufacturers to
reduce operational costs. While AR is a real-time integration of digital
information with the user's environment, VR is a three-dimensional, computer
generated environment that can be explored and interacted with. Both these
technologies facilitate train and components manufacturers to accelerate and
optimize their production, and minimize costs..
Major companies in the train and
components manufacturing market, offering AR and VR technology include CRRC,
Siemens AG, Alstom, Bombardier, GE Transportation, Hyundai-Rotem, The
Greenbrier Co, Stadler, Trinity Industries, and CAF.
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