The Global Rolling Stock Market is estimated to be USD 54.43 billion in 2018 and is projected to reach USD 73.80 billion by 2025, growing at a CAGR of 4.44% from 2018 to 2025.
Asia Oceania is estimated to lead the market in 2018; China, Japan, and India are the key contributors to the rolling stock market in the region. Increasing urbanization, adoption of public transport as a means of reducing traffic congestion, growing demand for energy-efficient transport and increasing adoption of rolling stocks for freight transportation are major drivers of the rolling stock market. Along with this, the leading rail infrastructure developers are also adopting collaboration strategies with local rail authorities to develop rail infrastructure.
The rolling stock market is dominated by global players such as CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), Kawasaki Heavy Industries (Japan), Hyundai Rotem (South Korea), and General Electric Company (US), CJSC Transmashholding (Russia), Stadler (Switzerland),Construcciones Auxiliar de Ferrocarriles (Spain).
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Electro-diesel locomotive is estimated to be the fastest-growing segment, by type, of the rolling stock market. This can be attributed to the globally increasing electrification of rail tracks. As electric traction for the railways is proved to be the most energy-efficient operation, the electrification of rail tracks is expected to expand exponentially in the coming years. Thus, the development of the rail industry and the expansion of electrified rail tracks would act as a catalyst to the growth of the rolling stock market. Europe is estimated to be the largest market of electro-diesel locomotive, and the trend is expected to continue until 2025.
The demand for freight wagons is high in the US, China, and Russia. This is because of the increasing replacement of old fleets and the growth of the manufacturing sector in these countries. Custom-made and technologically advanced wagons, such as chemical and pressure tank wagons and car-carrier and low-loader container-carrying wagons, are manufactured in Western Europe and other developed regions. The increased mining activities in emerging economies are expected to impact the market for freight transportation positively. The growth of freight transportation is expected to propel the growth of freight wagons and locomotives consequently.
The conventional locomotives market is projected to grow at the highest CAGR from 2018 to 2025 and holds the largest market share of the rolling stock market. The primary advantage of the turbocharged locomotives is that it gives more power with no increase in fuel costs. Countries such as China, Japan, Germany, UK, France, and Canada are rigorously focusing on improving rail transport to reduce the increasing strain on roadways and airways. Thus, increased investments have been made by the governments for the development of electric railway infrastructure, which will boost the market for conventional electric and electro-diesel locomotives.
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The rolling stock market is projected to grow at the fastest rate in emerging economies such as Egypt, UAE, India, and China. The Middle East & Africa region is estimated to be the fastest-growing market for rolling stock followed by Asia Oceania. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transportation infrastructure is insufficient. The expansion of this network is expected to drive the demand for new vehicles. Many companies such as CRRC, Bombardier, and Alstom are expanding their presence and product offerings in the high growth potential market to gain traction in the rolling stock market.
Reasons to Buy the Report:
The report provides insights into the following points:
- Market Penetration: Comprehensive information about the rolling stock offered by top 10 players in the market
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the rolling stock market
- Market Development: Comprehensive information about types of rolling stock. The report analyzes markets for various rolling stock across regions.
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the rolling stock market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the rolling stock market
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