The global railway rolling stock market size is anticipated to flourish at an opulent CAGR of 4.1% throughout the forecast period. The market size is estimated to be around US$ 61,504.8 million for the current year 2023. By the end of the projection period, the total supply of these products would reach around US$ 91,921.3 million in the international market.
The global railway rolling stock market is expected to see continued growth in the coming years. Rolling stock refers to the vehicles that run on railway tracks, including locomotives, passenger coaches, and freight wagons.
One of the main drivers of growth in the railway rolling stock market is the increasing demand for rail transportation, particularly in urban areas. As cities become more congested and concerns about air pollution grow, more and more people are turning to rail as a cleaner and more efficient mode of transportation.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16255
Another factor driving growth in the rolling stock market is the increasing focus on sustainability. Rail transportation is already one of the most environmentally-friendly modes of transportation, and there is a growing interest in making it even more sustainable. This is leading to increased investment in technologies such as electric and hydrogen-powered trains, which emit fewer greenhouse gases than traditional diesel trains.
In addition, there is a growing interest in the use of digital technologies in rolling stock, such as sensors and data analytics, to improve maintenance and performance. This can help to reduce downtime and improve reliability, leading to lower costs and increased efficiency.
Overall, the railway rolling stock market is expected to see continued growth in the coming years, driven by factors such as increasing demand for rail transportation, sustainability concerns, and the adoption of digital technologies. However, the rate of growth will depend on various factors such as government investment, regulatory requirements, and competition from other modes of transportation.
Key Takeaways
- Recent campaigns have emphasized decreasing the use of fossil fuels and introducing more contemporary energy sources. These cutting-edge sources have had a sizable influence on the industry. Numerous market participants have consequently launched rolling stock with hydrogen fuel battery features.
- The development of rooftop solar panel installation, which is anticipated to effectively satisfy the energy needs of rolling stock units, is currently underway. Additionally, it is anticipated that increased external investment in this project will have a major effect on the trends in railway rolling stock that are currently emerging.
- The development of a number of additional means of transportation, such as regional airlines, is anticipated to restrain market expansion in general. Additionally, the use of transmission pipelines for the transportation of raw materials has increased, which has decreased the demand for train rolling stock in the logistics industry as well.
The need for railroad rolling stock has decreased as transmission pipelines are being used more frequently to move raw materials in the logistics industry. Further reducing rivalry in this market is the adoption of regenerative braking technology across the board for all rolling stock.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-16255
Competitive Landscape
Market players with excessive capital and hands-on technology know how to outcompete their rivals. One of the leading factors that influence the studied market expansion is the encouragement of regional players by their respective governments.
Increasing focus on public transport systems is anticipated to provide immense opportunities for newly entering market players. Moreover, federal assistance in many emerging economies to strengthen the domestic railway asset supply has also motivated several industries to enter the market.
Governments all over the globe are spending excessively on infrastructure development for the overall growth of their economy. Furthermore, this trend has specifically intensified over recent years. This trend indirectly benefitted the transportation sector including railway rolling stock industries. Further emphasis upgradation of the existing railway sector is anticipated to allow businesses to research and adopt new business models.
Key Players Profiled in the Railway Rolling Stock Market Report
- CRRC Corporation Limited
- Alstom SA
- Siemens AG
- GE Transportation
- IHI Corporation
- PPF Group N.V.
- Stadler Rail AG
- Tatravoganka A.S. Poprad
- Wabtech Corporation
- Kawasaki Heavy Industries Ltd.
- The Greenbrier Companies, Inc.
- The Kinki Sharyo Co., Ltd.
- PESA Bydgoszcz SA
- MAPNA Group
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-16255
Key Segments
By Type:
- Locomotive
- Diesel Locomotives (DMU)
- Electric Locomotives (EMU)
- Electro-diesel Locomotives
- Others
- Passenger Coaches
- Freight Wagon
- Trams or Light Rails
- Metro or Subways
- Monorail
- Others
By End User:
- Passenger Transit
- Cargo or Freight Transit
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
More Insights into the Railway Rolling Stock Market
According to the market analysis, the United States is expected to dominate the global railway rolling stock market due to the leading production and advancements taking place in the North American region. This country is also anticipated to remain the major region for the introduction of any type of advancement in the railway rolling stock industry.
The overall market size of the U.S. was predicted to generate a valuation of around US$ 12,818.5 million which translates to around 21.8% of the global market in the previous year. However, the US railway rolling stock business is projected to register a below-average CAGR rate over the forecast period. Owing to this reason, global key players working in the country are focusing more on the rapid expansion of their manufacturing units into the Asia Pacific and Latin American countries.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com