The three-car, V/Line VLocity service was carrying two passengers and the driver when it smashed into a level-crossing gate in Ballarat in May, 2020.
Travelling at more than 160km/h, the driver began applying the brakes roughly 5.1km from Ballarat Station, and applied full service brakes about 2.6km from the intended stopping point.
The train was unable to sufficiently slow down and could not be stopped, the report said.
The train passed through the station and hit the level crossing gates at an estimated speed between 93 and 97 km/h, with the driver finally able to bring it to a standstill 640 metres beyond the station.
One passenger was hospitalised and the driver sustained minor injuries.
"The investigation found that the train's sanding system, which is intended to improve adhesion in slippery conditions by applying sand to the rail head, was ineffective at improving braking performance," Transport Safety Victoria chief investigator Mark Smallwood said.
Mr Smallwood said sander configuration, vegetation contamination and sand levels potentially affected the sander performance.
"There were missed opportunities to identify weaknesses in the sander configuration, while maintenance of the sander units did not test for discharge flow rates, and train preparation processes did not ensure a required minimum amount of sand in the sand boxes," he said.
Since the incident, V/Line has implemented a number of measures to improve sander performance, and has reduced the permitted approach speed of trains to Ballarat Station from 160km/h to 80km/h.
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