WASHINGTON, May 15, 2023 (GLOBE NEWSWIRE) -- The Global Rolling Stock Market is valued at USD 62.3 Billion in 2022 and is projected to reach a value of USD 92.4 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period 2023-2030.
Market Overview
Due to a rise in the use of public transportation, including local trains, train lines, and metros, the requirement for Rolling Stock has increased during the projection period. An efficient indicator of the overall expansion of the Rolling Stock market is the government's increased budget distribution and the launch of numerous programs for constructing railway infrastructure.
We forecast that the locomotives category in Rolling Stock market sales will account for more than 45% of total sales by 2030. Railways are pulled by locomotives, which are powered engines. The difference between a locomotive and limited engines is their capacity to transport a payload. Massive investments are, therefore, essential rather than advantageous because pulling trains requires far more force than pulling other vehicles.
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Market Dynamics
Government Contribution is Promoting to the Market Growth
Train travel can be a cheap and environmentally friendly alternative considering the growing environmental problems brought on by air and road travel and the increasing city traffic congestion. Almost all main rail network nations have commercial players in Rolling Stock management. Nonetheless, the government also has some authority over parts of its operations. The market expansion is accelerated by the rise in government steps worldwide to incorporate fast trains. These trains are seen as affordable, secure, and a quick mode of transportation that favourably affects the market.
Increased Demand for Rapid Transit Vehicles in the Rolling Stock Industry Drives the Market Growth
Due to their capacity to provide comfortable high-speed operation, the RTV category is anticipated to hold the largest Rolling Stock market share during the ensuing years. They are also quite effective and trustworthy. RTV uses significantly less energy than highway transportation methods. They are frequently run-on electricity. In addition, developing automated and magnetic levitation trains would propel this sector's growth.
Top Players in the Global Rolling Stock Market
- Alstom (France)
- CAF (Egypt)
- CRRC Corporation Limited (China)
- Hitachi Ltd. (Japan)
- Hyundai Corporation (Seoul, Korea)
- IHI Corporation (Tokyo)
- Kawasaki Heavy Industries Ltd. (Japan)
- MAPNA Group (Tehran, Iran)
- Nippon Sharyo Ltd. (Japan)
- PESA Bydgoszcz SA (Poland)
- PPF Group N.V. (Netherlands)
- Stadler Rail AG (Bussnang, Switzerland)
- Tango (U.S.)
- The Greenbrier Companies Inc. (U.S.)
- The Kinki Sharyo Co. Ltd. (Osaka, Japan)
- Trinity Industries Inc. (Dallas, U.S.)
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Top Trends in the Global Rolling Stock Market
- One trend that Vantage Market Research (VMR) expects to see in the Rolling Stock industry is the growing demand for the tourism sector. The global expansion of the tourism industry further influences the market. The increase in tourism and the resulting traffic increases the need for bullet trains. Also, the increase in the industry is aided by the rise in transportation-related issues and their negative effects on the environment.
- Another trend that VMR predicts will continue in the Rolling Stock industry is its increasing trend of electric trains because of benefits including reduced environmental harm and improved vehicle reliability. Electric trains release less carbon monoxide than diesel trains and are more ecologically friendly. Also, the increased awareness of environmental degradation encourages using electric trains for transportation.
Top Report Findings
- Based on the Type, most of the Rolling Stock market's revenue is controlled by the locomotives category. Locomotives pull or push freight cars over rails between distant locations, locally in changeover yards, or during urban/suburban service (almost all of which are diesel-electric in the United States). Standard diesel-electric locomotive setup. Each battery locomotive also has an onboard supervisory control system as its brain. The railway line can enter information about the train's journey into the computer before the train ever departs, such as how much weight it is hauling, the types of locomotives in the combination, and its route, enabling the machine to arrive at decisions on how best to use the batteries.
- Based on End Users, passenger transit controls most of the Rolling Stock market's revenue. Vehicles that provide or are intended to provide passenger transit are known as PTVs. This covers on-demand, routine, and touristic passenger transportation and incentive- or employment-related passenger transportation.
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Recent Developments in the Global Rolling Stock Market
- In December 2021, HS2 has awarded contracts to a joint venture of Hitachi Rail and Alstom (HAH-S) for developing, producing, and maintaining high-speed rolling stock for Phase-1 of the line.
- In December 2021, Siemens AG has developed a Digital Train Control System with VGF (Germany). This system is expected to replace the traditional train control system currently used in metro and tram networks. This system is being developed to increase the capacity and efficiency of train routes, particularly in underground sections.
- In October 2021, Deutsche Bahn (DB) and Siemens Mobility collaborated to create the world's first automatic train, which is completely automated and controlled by digital technology and requires no human intervention. This advancement is part of the Digital S-Bahn Hamburg project.
- In May 2020, A subsidiary of China Railway Rolling Stock Company (CRRC), CRRC Zhuzhou Locomotive, purchased the European locomotive maker Oslo Group. This will assist CRRC in growing its clientele in the European rail industry.
- In February 2020, Alstom stated that it had signed an MoU for the acquisition of Bombardier Transportation with Bombardier Inc. and Causse de depot et placement du Québec (CDPQ). All the shares of Bombardier Transportation will cost around 6 billion euros to purchase.
Locomotives Category of the Type Segment of the Rolling Stock Market Forecast to Generate a Substantial Revenue in Projected Timelines
For better understanding, based on the Type, the Rolling Stock market is divided into Locomotive, Metro, Monorail, Trams, Freight Wagon, Passenger Coaches and Other Types.
The Locomotives market was the largest market by application, and it is anticipated that it will continue to hold the top spot during the projected period. The sole purpose of locomotives, which are motorized rail transport vehicles, is to move trains along lines without carrying any freight. However, push-pull systems, in which the trains have engines at the back, front, or both ends, have become popular. Electric locomotives are chosen because they offer superior performance, cheaper operating expenses, less expensive energy use, and less pollution.
On the other hand, the Freight Wagons category is anticipated to grow significantly. The market for freight wagons with rail wheels is expanding due to factors such as rising logistical capacity, state-wide and interstate commerce trade, and increasing digitalization of trains. The global market for freight wagon rail wheels has undergone considerable changes over the years due to technological improvements and the creation of novel products. Companies have concentrated on fuel efficiency and emission reduction in response to market requests for lighter wheels with lower ride quality, ecologically friendly nature, and endurance.
Asia Pacific Region of the Global Rolling Stock Market Expected to Generate a Major Proportion of the total Global Revenue
The Asia Pacific region is anticipated to do so in the coming years. due to the administration's implementation of strict laws and measures to reduce carbon emissions. The administration is thus concentrating on upgrading the current assets. Due to the high cost of locomotives, Rolling Stock adoption is now only moderate. The region is adopting passenger trains for commuting due to the growing population. Furthermore, the government's economic stimulation in rail freight for the movement of commodities is credited with the region's growing trade. The main drivers driving the global Rolling Stock market are the rising industrial mining activities worldwide, which have fuelled demand for quick trams, local passenger trains, and metro trains.
The North American regional market is expected to grow the fastest in the Rolling Stock market. The development of the global Rolling Stock market has also been accelerated by technical developments like maglev trains (Maglev Trains), the use of IoT in telecommunications, signalling, engineering, and improving the onboard experience for passengers.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Rolling Stock Market Forecast Report (2023-2030).
Global Rolling Stock Market Segmentation
By Type
- Locomotive
- Metro
- Monorail
- Trams
- Freight Wagon
- Passenger Coaches
- Other Types
By End Use
- Passenger Transit
- Cargo Train
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 62.3 Billion |
| Revenue Forecast by 2030 | USD 92.4 Billion |
| CAGR | 5.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Alstom, CAF, CRRC Corporation Limited, Hitachi Ltd., Hyundai Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd., MAPNA Group, Nippon Sharyo Ltd., PESA Bydgoszcz SA, PPF Group N.V., Stadler Rail AG, Tango, The Greenbrier Companies Inc., The Kinki Sharyo Co. Ltd., Trinity Industries Inc. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/rolling-stock-market-2113/request-sample |
Key Questions Answered in the Rolling Stock Market Report are:
- What is the current size of the rolling stock market, and how is it expected to grow or change in the future?
- What are the major factors driving demand for rolling stock, such as increased passenger traffic or investments in new rail infrastructure?
- Who are the leading manufacturers and suppliers of rolling stock, and what is their market share?
- What types of rolling stock are in highest demand, such as locomotives, passenger cars, or freight cars?
- What are the major trends and innovations in the rolling stock market, such as the use of automation or advances in materials and design?
- What are the major challenges facing the rolling stock market, such as competition from other modes of transportation or concerns about environmental impact?
- What are the regulatory and policy considerations affecting the rolling stock market, such as safety standards or government funding for rail projects?
- How are global economic and political factors impacting the rolling stock market, such as trade agreements or shifts in consumer behavior?
- What are the opportunities for growth or investment in the rolling stock market, and what are the potential risks and obstacles to consider?
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