Rolling Stock Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Rolling Stock Market Analysis
The rolling stock market was valued at USD 52.5 billion in 2021, and it is expected to reach USD 67.2 billion by 2027 by registering a CAGR of over 4.2% during the forecast period (2022 - 2027).
The market was negatively impacted by COVID-19 in 2020. Travel and tourism were halted owing to the pandemic. Main rolling stock manufacturers such as Alstom (France) and Bombardier (US) stated the suspension of production owing to the supply chain bottlenecks, fall in demand, and to safeguard the safety of their employees in Spain, United States, Italy, Germany, and France, during the COVID pandemic. Furthermore, budget allotments for R&D were considerably impacted, which hampered the advancement of innovative rail development. The demand for rolling stock is mostly related to government budgets coupled with the requirement from rail operators.
Over the medium term, factors such as increasing technological advancements, growing environmental concerns, traffic congestion, and rapid urbanization are projected to drive the demand for rolling stocks during the forecast period. Furthermore, thorough innovation and research are vital to manufacturing rolling stock that is robust as the rolling stock orders have lengthened lead times and must last for a long time. This market is observing active participation from governments to make the safest and cheapest means of transportation more than comfortable.
Currently, ultra-high-speed trains and autonomous trains are the future of railway transportation, coupled with other new technologies that support it. For instance, in the Level 3 European Rail Traffic Management System (ECTS), trackside equipment will not exist. The integrity and train location will not rely on trackside equipment (axle counters, signals, track circuits); instead will be controlled by the Radio Block Centre (RBC) and train.
The European Union (EU) has the largest electrified rail length in the world, with around 218,000 km of the active rail network. EU commission is obligated to make its rail network more than convenient for passengers by establishing several laws, coupled with enticing private industry players to expand the current network. For instance, the EU commission has set a target of moving 30% of the freight traveled by more than 300 km for other modes of transport (rail or water) by 2030.
Rolling Stock Market Trends
This section covers the major market trends shaping the Rolling Stock Market according to our research experts:
Government Contribution is Promoting to the Market Growth
Amid the rising environmental concerns owing to the air and road transport and rising city traffic congestion, railway transportation can be an eco-friendly and cheap alternative. In nearly all the major rail network countries, management of rolling stock is under the control of private players. But then, at the same time government has some control over its operations.
For instance, India, which has the fourth-largest rail network in the world, has a state-owned rail network, and in 2022, Indian Railways received a budget allocation of USD 18.6 billion for the 2022-23 fiscal year, which was 27.5% more than that of the previous year. Also, the government is planning to propose modern trains and has already privatized a few trains on selected routes. Similarly, in 2021 the UK government had plans to invest around USD 63.23 billion in the rail network in the Autumn Budget 2021.
Asia-Pacific Is Anticipated to Lead Major Market Share
The railway is the preferred means of transport among the passengers of the major Asian economies, such as Japan, India, and China. With these three countries also dominating the list of passenger-kilometer per year, as well major manufacturers of rolling stock markets are headquartered in this region. Furthermore, local governments are putting more and more capital into advancing the existing rail network. For instance,
- In 2021, China invested USD 117.86 billion in fixed rail assets, and its plan for 2022 was to invest in 3,300 km of new railway lines, in which approximately 1400 km of the railway lines are high-speed rail, and 1900 km railway lines are normal speed rail tracks.
- Indian Railways is set to combine its rolling stock manufacturing units and workshops into a new public sector unit (PSU) - Indian Railway Rolling Stock Company. This PSU will be structured along the lines of China's CRRC Group. In addition, the Indian Railways is also modernizing the existing railway network by including a new OMRS system, which consists of an Acoustic Bearing Detector (ABD) or Rail Bearing Acoustic Monitor (RailBAM) that can detect the faults in the bearings and wheels of the rolling asset.
Such investments are anticipated to remain the primary market driver during the forecast period.
Rolling Stock Industry Overview
The rolling stock market is consolidated, and some of the major players in the market are CRRC, Alstom SA, Siemens AG, Wabtec Corporation, and Hyundai Rotem. The companies are expanding their presence by acquiring other market participants, forming strategic alliances with other players in the market, and launching new and advanced rolling stocks. For instance,
- In May 2020, CRRC Zhuzhou Locomotive, a subsidiary of China Railway Rolling Stock Corporation (CRRC), acquired Vossloh Group- a locomotive manufacturer in Europe. This will help CRRC to expand its business in the European rail market.
- In February 2020, Alstom announced that it signed an MoU with Bombardier Inc. and Caisse de depot et placement du Quebec (CDPQ) for the acquisition of Bombardier Transportation. The price for the acquisition of all the Bombardier Transportation shares is around EUR 6 billion.
- In January 2020, Stadler sealed a USD 349 million contract from Hungarian MAV-START, a state-owned passenger operator for 21 KISS electric multiple unit trains, and a USD 112 million maintenance contract from the US transit agency Dallas Area Rapid Transit (DART).
Rolling Stock Market Leaders
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CRRC Corporation Limited
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Alstom SA
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Siemens AG
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Wabtec Corporation
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Kawasaki Heavy Industries Ltd.
*Disclaimer: Major Players sorted in no particular order
Rolling Stock Market News
- In January 2022, Wabtec Corporation acquired MASU's a leading manufacturer of friction products in the rail and automotive industry. This acquisition will help Wabtec Corporation to expand its installed base and speed up growth throughout its brake product portfolio.
- In May 2021, France's national state-owned railway company SNCF and its partners, the Railenium Technology Research Institute, Thales, Spirops, Bosch, and Alstom, commenced testing a customized Regio 2N regional train for France's rail network as an autonomous regional train prototype.
Rolling Stock Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Locomotives
5.1.2 Metros
5.1.3 Passenger coaches
5.1.4 Other Types
5.2 By Propulsion Type
5.2.1 Diesel
5.2.2 Electric
5.2.3 Electro-diesel
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 United Arab Emirates
5.3.4.3 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 China Railway Construction Corporation Limited (CRCC)
6.2.2 Alstom SA
6.2.3 Siemens AG
6.2.4 Wabtec Corporation
6.2.5 Kawasaki Heavy Industries Ltd
6.2.6 CJSC Transmashholding
6.2.7 Stadler Rail
6.2.8 DescriptionConstrucciones y Auxiliar de Ferrocarriles SA
6.2.9 Hyundai Rotem
6.2.10 Mitsubishi Heavy Industries Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Rolling Stock Industry Segmentation
Rolling stock is generally employed for the transportation of goods, like heavy machinery, construction materials, conventional fuels, agricultural products, and so on, and passengers. The rolling stock market is segmented by type, propulsion type, and geography. By type, the market is segmented into Locomotives, Metros, Passenger Coaches, and Other Types. By propulsion type, the market is segmented into Diesel, Electric, and Electro-diesel. The report also covers the market sizes and forecasts for the Rolling stock market in 17 countries across major regions. For each segment, market sizing and forecasts have been done based on value (USD Billion).
| By Type | |
| Locomotives | |
| Metros | |
| Passenger coaches | |
| Other Types |
| By Propulsion Type | |
| Diesel | |
| Electric | |
| Electro-diesel |
| By Geography | ||||||||
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Rolling Stock Market Research FAQs
What is the current Rolling Stock Market size?
The Rolling Stock Market is projected to register a CAGR of greater than 4.20% during the forecast period (2024-2029)
Who are the key players in Rolling Stock Market?
CRRC Corporation Limited, Alstom SA, Siemens AG, Wabtec Corporation and Kawasaki Heavy Industries Ltd. are the major companies operating in the Rolling Stock Market.
Which is the fastest growing region in Rolling Stock Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rolling Stock Market?
In 2024, the Asia-Pacific accounts for the largest market share in Rolling Stock Market.
What years does this Rolling Stock Market cover?
The report covers the Rolling Stock Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rolling Stock Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the challenges faced by Rolling Stock manufacturers in emerging markets?
The challenges faced by Rolling Stock manufacturers in emerging markets are a) Issues like access to funding b) Skilled labor shortages c) Competing with established players in developed markets
Rolling Stock Industry Report
The global rolling stock market is experiencing significant growth, driven by increased investments in railway infrastructure and a focus on modernizing rail networks. This market growth is essential to meet the demands of growing urban populations, which are increasingly reliant on efficient and sustainable transportation solutions. The market analysis reveals that there is a high demand for advanced rolling stock vehicles, such as locomotives, rapid transit vehicles, and wagons.
Rolling stock manufacturers are at the forefront of this expansion, leading innovation with energy-efficient and environmentally friendly technologies, including electric and hybrid locomotives. These advancements address environmental concerns and improve the safety and efficiency of rail transportation through digital solutions like real-time monitoring and predictive maintenance. The industry analysis highlights the strong emphasis on electrification and big data applications, which are driving significant innovation within the market.
Manufacturers are forming strategic partnerships and focusing on technological advancements to cater to the growing needs of the railway industry. The market forecast indicates that the rolling stock market is characterized by substantial share, size, and revenue growth. The industry reports provide a comprehensive overview and forecast outlook of this dynamic market, emphasizing the pivotal role of manufacturers in transforming global rail transportation.
The market review shows that rolling stock manufacturers are integral to the market value and market size, contributing to the overall market trends. The industry outlook and market outlook are promising, with a focus on sustainable and efficient transportation solutions. The market segmentation includes various types of rolling stock, such as locomotives, metros, and passenger coaches, which are essential for the market's growth rate.
In conclusion, the rolling stock market is poised for continued growth, driven by innovation and strategic partnerships. The market overview and industry information provided in the report pdf from 糖心vlog传媒鈩� offer valuable insights into the market predictions and industry statistics. This market data is crucial for understanding the market leaders and their role in the industry's future. The industry research and market predictions indicate a positive trajectory for the rolling stock market, making it a vital component of global transportation infrastructure.
