The global rail market is expected to grow rapidly in the coming years.
According to a new report from Frost & Sullivan, the rail networks in Africa, Latin America, and the Middle East are expected to double in size by 2022. And while high-speed rail projects have been canceled in places like Poland and Portugal, governments are looking to infrastructure -- especially transit infrastructure -- to spur economic growth.
"Efficiency requirements will spur the global adoption of advanced asset and fleet management tools such as remote diagnostics, passenger information and asset planning," said Shyam Raman Frost & Sullivan's automotive and transportation research analyst, in a statement. "With train operators using Internet protocol architecture for onboard Internet access as well as operation and safety services, opportunities will open up for next-generation multimedia applications. The U.K. and U.S. already have the highest number of rolling stock with Wi-Fi services in their respective regions."
Other key market projections:
- Africa will experience the highest growth in the rail supply market.
- North America will be the fastest growing market for light and commuter rail and metro rail will be the largest replacement market.
- By 2020, China will have nearly 75,000 miles of rail.
- Between 2015 and 2022, Europe is expected to replace 10,298 locomotives and 1,860 railcars.
Photo: Flickr/Leonardo, easthastings