Rolling Stock Market Size, Share & Trends Analysis Report and Forecasts 2024-2030
Rolling Stock Market
Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Rolling Stock Market Size, Share & Trends Analysis Report By Product (Locomotive, Rapid Transit Vehicle, Wagon), By Type, By Train Type, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global rolling stock market size is expected to reach USD 96.58 billion by 2030 and is anticipated to expand at a CAGR of 6.3% during the forecast period.
Rising focus of governments and railway companies on enhancing digitalization of railway infrastructure and increasing demand for efficient transportation, rail security, and commuter comfort owing to growing urbanization are some of the key factors driving the global rolling stock market growth. In addition, the growing focus of countries on enhancing their transportation systems by increasing the freight capacity is further anticipated to create lucrative opportunities for the stakeholders in the rolling stock market over the forecast period.
From transporting raw materials to industrial equipment, rolling stock plays a multi-functional role on a global scale. With a growing focus of countries on creating a green railway network, several governments and private entities are joining hands to infuse significant investments to achieve their set targets of sustainable transportation. For instance, in January 2023, Siemens Mobility, one of the global transport solutions providers, received an order for 1,200 locomotives of 9,000 (HP) from the Indian Railways. Siemens Mobility will design, commission, manufacture and test the locomotives while delivering the offerings over a span of eleven years. This contract is valued at approximately USD 3.3 billion, and the locomotives are expected to be assembled in the Indian Railway Depots facility in Gujarat. Thus, with this contract, Siemens Mobility is anticipated to support the Indian Railway's ambition of doubling its freight capacity and achieving sustainable transportation goals.
Government agencies in countries such as South Korea, India, Norway, and Italy are moving towards an electrification of railways. Thus, prompting heavy investments from train service providers and government bodies to develop and expand electric rolling stock and its infrastructure is further anticipated to drive the market growth over the forecast period. For instance, in June 2023, LTG Link, a train service provider awarded a contract to Stadler Rail AG, a rolling stock manufacturer to supply flirt trains. The contract include purchase of 15 Flirt units, 26 battery-electric Flirt trains, and 13 electric Flirt Intercity multiple units. The contract also include supply of spare parts and technical support for 10 years from the manufacturer.
The market is driven by the demand for improved passenger comfort. New technologies such as high-speed trains, modern interiors, and advanced sound-insulation systems are making rail travel more comfortable. Moreover, integrating Wi-Fi, infotainment systems, and charging ports in trains enhances the passenger experience. The growing demand for sustainable transportation is a major factor driving the rolling stock market growth. New technologies such as hydrogen fuel cells, battery electric trains, and hybrid locomotives are making rail transportation more sustainable. These technologies reduce emissions, minimize noise pollution, and help improve air quality.
Rolling Stock Market Report Highlights
The wagons segment led the market in 2023 in terms of revenue. Companies such as CRRC Corporation Limited, Porterbrook, and GB Railfreight are investing considerable funds into making wagons. Modern wagons have a speed limit of up to 75 mph (121 km/h) in some countries and are equipped with GPS receivers and transponders, which help in monitoring location
Diesel segment dominated the market in 2023. Factors such as low cost, easy availability, and lesser volatility of diesel engines contribute to the growth of the segment
The rail freight segment led the market in 2023 in terms of revenue. Implementation of GPS tracking systems and the integration of intelligent systems have improved the quality of this type of transportation service is anticipated to drive the segment growth
Asia Pacific dominated the rolling stock market in 2023. The government is making significant investments in railway companies to help improve transportation services, expand the current train network, and attract more passengers toward rail transportation
Key Attributes:
Report Attribute | Details |
No. of Pages | 120 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $64.1 Billion |
Forecasted Market Value (USD) by 2030 | $96.58 Billion |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
2.1. Rolling Stock Market Snapshot, 2022 & 2030
2.2. Product Segment Snapshot, 2022 & 2030
2.3. Type Segment Snapshot, 2022 & 2030
2.4. Train Type Segment Snapshot, 2022 & 2030
2.5. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Market Analysis Tools
Chapter 4. Rolling Stock Market: Product Type Outlook
4.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
4.1.1. Locomotive
4.1.2. Rapid Transit Vehicle
4.1.3. Wagon
Chapter 5. Rolling Stock Market: Type Outlook
5.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
5.1.1. Diesel
5.1.2. Electric
Chapter 6. Rolling Stock Market: Train Type Outlook
6.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
6.1.1. Rail Freight
6.1.2. Rail Passenger
Chapter 7. Rolling Stock Market: Regional Outlook
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Company Market Ranking/Share Analysis, 2023
8.3. Company Heat Map Analysis
8.4. Strategy Mapping
8.5. Company Profiles (Overview, Financial Performance, Product Overview)
CRRC Corporation
Trinity Rail
Alstom Transport
GE Transportation
Siemens Mobility
Stadler Rail
Hitachi Rail Systems
The Greenbrier Co.
Hyundai Rotem
Kawasaki Heavy Industries
For more information about this report visit https://www.researchandmarkets.com/r/hxo5iz
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