The global Rolling Stock market size is expected to reach close to by 2029 with an annualized growth rate of 5.8% through the projected period.
Customization as per customer’s need has become crucial thing for the majority of industries. Rolling stock can also be easily customized and provides a larger carrying capacity in comparison to other forms of transport. All wheeled vehicles including both powered and unpowered coaches, carriages, passenger cars, and freight wagons that run on railway tracks are referred to as rolling stock. Besides, it helps in offering cost-effective modes of conveyance for transporting heavy or bulky goods as well as facilitating commuters over long distances.
The global rolling stock market size is predicted to reach over USD 73.8 billion by 2028. This can be ascribed to the higher budget allocation for railways by different governments, and rise in demand for secure, safer & efficient transport. Besides, the increase in the need for solutions to minimize traffic congestions such as use of public transport services, is also the key factor driving the market growth for rolling stock.
However, huge capital requirement for new as well as maintenance of existing rolling stock are hampering the market growth. Furthermore, the increase in the industrial & mining activities, particularly in developing countries coupled with improvement in railway infrastructure are likely to provide lucrative development opportunities for the rolling stock market in the forthcoming years.
Rolling Stock Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 73.8 billion|
|Growth Rate||CAGR of 2.9% during 2021-2028|
|Segment Covered||Type, End-use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ABB, American Industrial Transport, Inc., Bombardier, CAF, Construcciones y Auxiliar de Ferrocarriles, Caterpillar, CRRC Corporation Limited, Hitachi, Ltd., HYUNDAI ROTEM COMPANY, and Kawasaki Heavy Industries, Ltd. Moreover, the additional prospective market players in the rolling stock market are Mitsubishi Electric Corporation, National Steel Car Limited, Niigata Transys Co.,Ltd. (a subsidiary of IHI Corporation), PATENTES TALGO S.L.U., Siemens, Stadler Rail AG, Toshiba Infrastructure Systems & Solutions Corporation.|
Key Segments of the Global Rolling Stock Market
Type Overview, 2019-2028 (USD Million)
- Freight Wagons
- Passenger Coaches
End-use Overview, 2019-2028 (USD Million)
- Passenger Transit
- Cargo Train
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global rolling stock market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global rolling stock market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the rolling stock industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, and end-use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global rolling stock market. The report will benefit Every stakeholder involved in the rolling stock market.
- Managers within the rolling stock industry looking to publish recent and forecasted statistics about the global rolling stock market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global rolling stock market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Over the past many decades, railway transportation is considered as the safest mode of transportation facilitating passengers with secure travel, cost-effective journey and creating memories forever. With the growing demand and adoption of railways, rolling stock is no more limited to a particular department for use and being adopted across a wide range of industries and their business processes.
Modern trains have on board camera, sensors, communication devices, and more installed on board. Such trains enable high secured journey even after running underground or at ground level. Moreover, they consume less energy due to better acceleration, traction, and braking system. Therefore, rolling stock helps in reduction of energy consumption by around 30% based on the degree of automation. With all these capabilities rolling stock allows organizations to save costs as well as time spent on providing efficient transportation system.
Furthermore, for most of the countries, road accidents cost 3% of their gross domestic product (GDP). These accidents cause considerable economic losses to individuals, their families, and to nations. To control all these casualties, there is rise in need of the safe, secure and efficient transportation system which drives the rolling stock market. Hence, rolling stock is expected to help organizations to enhance railway infrastructure at a faster pace.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the Type segment, the market is bifurcated into Locomotives, Metros, Monorails, Trams, Freight Wagons, Passenger Coaches, and Others. In 2020, the passenger coaches segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. However, this segment is also projected to attain major growth throughout the forecast years owing to the rising demand of the enhanced space and comfort from passengers to accommodate cycle, safe distancing, wheel chair space and other.
Based on the end-user, the market is segmented into Passenger Transit, and Cargo trains. The passenger transit seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the major population base in Europe which prefers the train for daily commute. In addition, rising demand for enhanced comfort and connectivity is creating demand for new rolling stock solutions.
Germany is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the growing demand for high speed trains which is getting fulfilled with German manufacturers. U.S. accounted largest market share for wagons rolling stock type segment in North America owing to the demand for the faster freight transportation network to achieve fast commodities and goods supply. However, China accounted largest market share in Asia-Pacific for the solution of coach segment due to the growing manufacturing hub and production capabilities. The growth of the rolling stock market in this region is mostly ascribed to the growing adoption of rolling stock by companies in countries such as India, Japan, and China to compete against other regional players.
The major players of the global rolling stock market are ABB, American Industrial Transport, Inc., Bombardier, CAF, Construcciones y Auxiliar de Ferrocarriles, Caterpillar, CRRC Corporation Limited, Hitachi, Ltd., HYUNDAI ROTEM COMPANY, and Kawasaki Heavy Industries, Ltd. Moreover, the additional prospective market players in the rolling stock market are Mitsubishi Electric Corporation, National Steel Car Limited, Niigata Transys Co.,Ltd. (a subsidiary of IHI Corporation), PATENTES TALGO S.L.U., Siemens, Stadler Rail AG, Toshiba Infrastructure Systems & Solutions Corporation. Renowned companies are offering new and modern rolling stock production solutions. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.