Rolling StockMarket Overview
The rolling stock market size was valued at USD 41.10 in 2020 and is projected to reach USD 52.92 Billion by 2028, growing at a CAGR of 4.9% from 2021 to 2030.
Market Research Future (MRFR) in its latest report. It is projected that Europe and Asia-Pacific (APAC) are expected to emerge as the two major growth markets during the forecast period. The rolling stock market in Europe is characterised by a large number of market player, which makes it highly competitive. Many of the players have superior knowledge in freight technology, which gives them a competitive edge. In Asia, the market growth is primarily driven by the exponential growth of the transportation across the region. The region is home to two of the most densely populated countries China and India that are need for efficient and cost-effective transportation solutions. Local policy makers have been supportive of the development of transportation infrastructure. Investment have continued to grow in developing robust metro and inter-city trainsets and main line locomotives.
Segmental Overview
The segmental analysis of the global rolling stock market has been conducted on the basis of type, train type and product type.
On the basis of type, the market has been segmented into electric and diesel. The diesel segment is expected to maintain its dominant position throughout the assessment period. The strong requirement for high-torque engine in rail freights continues to drive the segments growth. Based on train type, the market has been segmented into passenger tail and rail freight. The rail freight segment is expected to remain highly attractive during the forecast period. Rail freights play an important role goods transportation operation worldwide. The global demand for rail freights is expected to remain high over the next couple of years. Industrial growth in regions such as Asia, the Middle East and Latin America has reflected favourably on the demand for rail freights. Based on product type, the market has been segmented into locomotive, rapid transit vehicle and wagon. The wagon segment represents a significant share of the global market in terms of revenue. Wagons are used extensively for transporting cargo.
Global Rolling Stock Market: Regional Segmentation
Some of the key regions covered in MRFR report include North America, Latin America, the Middle East Africa (MEA), Asia Pacific (APAC), and Europe. The Europe market is expected to remain highly attractive during the forecast period. Given the vastness of railways in the region, rolling stock demand remain strong in the region. However, the sector is undergoing tremendous transformation owing to policy reforms, integration of new technologies and implementation of environmental laws. The growing emphasis on electric mobility is creating unique opportunities for electric variants. German remain a key market for rolling stock in Europe, the country is home to several renowned rolling stock manufacturers. Some of the factors such as favourable policies, a stable business climate, presence of several companies with expertise in freight technologies puts Germany in a superior position in the global rolling stock market.
Competitive Landscape
Some of the key companies operating in the global rolling stock market include Construccionesy Auxiliar de Ferrocarriles, S.A (CAF) and Electro-Motive Diesel (EMD), Bombardier, Hitachi, Ltd, Hyundai Rotem Company, Kawasaki Heavy Industries Rolling Stock Company, Transmashholding, , GE Transportation, Stadler Rail AG, Siemens, Alstom, and CRRC Corporation Limited
Industry News Updates
Spain-based rail solution developer Construccionesy Auxiliar de Ferrocarriles, S.A (CAF) has reportedly purchased 100% stake in EuroMaint, a rolling stock maintenance service company. The acquisition saw CAF splash out approximately 80m.
HS2 Ltd has reportedly received five bids for the estimated 2.75 Bn railway contract for the U.K. The contract will include designing, manufacturing and maintenance of the countrys High Speed 2 train fleets.
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