Pune, India, March 06, 2023 (GLOBE NEWSWIRE) -- The global rolling stock market size was USD 293.45 billion in 2019. The market is anticipated to reach USD 52.92 billion by 2027 at a CAGR of 10.4% in the 2020-2027 period. This information is provided by Fortune Business Insights, in its report titled, "Rolling Stock Market, 2020-2027."
The global rolling stock market is set to gain impetus from the rising investment by the government and regulatory bodies in the enhancement of the railway infrastructure, especially in the developing countries.
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Market Drivers & Restraints:
The conventional rolling stock original equipment manufacturers (OEMs) are inclining towards advanced big data analytics, digital solutions, and remote monitoring to innovate their present product offerings and thereby deliver scalable and targeted solutions to the consumers. They have begun to take over a large number of tasks in the service business from rail operating companies and rolling stock owners, owing to the rising adoption of big data analytics.
Besides, the rising sale of new vehicles across the globe would help in generating a great value from the service and maintenance sector throughout the vehicle's entire life cycle. Also, the end users are nowadays moving towards the availability of assets to aid in contributing to the progress. However, as rolling stock refurbishment programs offer a great alternative to finish the overhaul of the pre-existing fleet, rail operators are not buying new vehicles. It may obstruct the rolling stock market growth in the coming years.
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast Period 2020 to 2027 CAGR | 10.4% |
| 2027 Value Projection | USD 52.92 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 40.71 Billion |
| Historical Data for | 2016-2018 |
| No. of Pages | 150 |
| Segments covered | Rolling Stock Market Size, Share & Industry Analysis, By Product Type (Locomotive, Rapid Transit Vehicle, Wagons). |
| Growth Drivers | Rising Sale of New Vehicles to Accelerate Growth |
| The demand for automotive vehicles has increased considerably owing to the growing income levels of consumers which has led to a rise in the traffic congestions in major urban areas across the globe. |
COVID-19 Impact:
The outbreak of COVID-19 pandemic has proven to be extremely distressful for a wide range of industries. It has already impacted approximately trillions of dollars of revenues in the market. However, we believe that this phase will soon pass with the cooperation of multiple organizations and government agencies. We will provide you with very deep insights on the decline and growth occurring in each industry because of the coronavirus infection. At the same time, we will also deliver highly accurate reports consisting of trends, drivers, hindrances, and opportunities in the market.
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Segmentation of Report:
Rapid Transit Vehicle Segment to Lead Owing to Their High Efficiency
In terms of product type, the market is segregated into wagons, rapid transit vehicle (RTV), and locomotive. Amongst these, the RTV segment is expected to hold the highest rolling stock market share during the forthcoming years fuelled by their ability to offer comfortable high-speed operation. They are also very efficient and reliable. RTV consumes very less amount of energy, unlike the road-based transportation systems. They often utilize electricity to operate. Apart from that, the emergence of magnetic levitation trains and advancement of automated trains would drive the growth of this segment.
Regional Insights:
Asia Pacific to Grow Rapidly Backed by Adoption of High-speed Train Networks in China
Geographically, Asia Pacific is anticipated to grow significantly backed by the major contributions of the developing countries, such as India and China. In China, the regulatory bodies are striving to broaden the country's high-speed train network under the eight vertical and eight horizontal high-speed rail network programs. Such initiatives would help in surging the high-speed mileage up to 38,000 kilometres till the end of 2025. It would also enhance the existing railway infrastructure by permitting the purchase of several unit trains possessing the speeds of 350 km/h. North America, on the other hand, is likely to grow steadily owing to the implementation of stringent rules and regulations by the governments to curb emission of carbon. The authorities are hence, focusing on the upgradation of the pre-existing assets. It is resulting in the high costs of locomotives and thereby causing medium adoption of rolling stock.
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Competitive Landscape:
Key Players Aim to Receive New Orders for Gaining Competitive Edge
The reputed companies present in the market are mainly focusing on achieving new orders from the government agencies or other renowned enterprises for their in-house rolling stock and associated products. They are able to strengthen their positions and gain a competitive edge through this strategy.
KEY INDUSTRY DEVELOPMENTS:
Alstom received an order for 27 Coradia iLint hydrogen trains from the German public transport network, Rhein-Main-Verkehrsverbund (RMV). The Coradia iLint, the world's first passenger train powered by hydrogen fuel cell provides clean, sustainable traction with a unique emissions-free solution for non-electrified lines and without any sacrifice in performance.
List of Key Players Covered in the Automotive Rolling Stock Market Report:
- CRRC Corporation Limited
- Alstom
- Bombardier Transportation
- Siemens Mobility
- Hyundai Rotem Company
- GE Transportation
- Wabtec Corporation
- Hitachi Railway Systems
- Trinity Industries, Inc.
- Transmashholding
- Stadler Rail AG
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Rolling Stock Market Segmentation: -
By Product Type
- Locomotive
- Rapid Transit Vehicle
- Wagons
By Application Type
- Passenger Rail
- Freight Rail
Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Merger, Acquisitions, and Partnerships
4.2 Distributor Analysis – For Major Players
4.3 Growth and Penetration Analysis
4.4 Porter's Five Forces Analysis
4.5 PEST Analysis
4.6 Vendor Landscape
5. Global Rolling Stock Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Application
5.2.1 Passenger Rail
5.2.2 Freight Rail
5.3 Market Analysis, Insights and Forecast – By Product Type
5.3.1 Locomotive
5.3.2 Rapid Transit Vehicle
5.3.3 Wagons
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia pacific
5.5.4 Rest of the World
Continued…
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