The global rolling stock market size is likely to attain over USD 73.8 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 2.9% during the forecast years 2021-2028. The rolling stock leverages customization feature and provides a larger carrying capacity in comparison to other forms of transport. It has the capability of offering cost-effective modes of conveyance for transporting heavy or bulky goods as well as facilitating commuters over long distances. However, organizations are looking for uniform solutions that can save costs as well as time spent on providing efficient transportation system.
The present and future rolling stock market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the rolling stock market opportunities during the forecast years. Factors such as higher budget allocation for railways by different governments is the key factor driving the market growth for rolling stock.
Also, the increase in the need for solutions to minimize traffic congestions such as use of public transport services is another factor driving market growth. 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.
The report also emphasizes several distinctiveness of the global rolling stock industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the rolling stock industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The rolling stock market has tough competition among the new emerging and pre-established market vendors. Besides, the rolling stock industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of end-user, the market is categorized into Passenger Transit and Cargo trains. The passenger transit segment is predicted to achieve the largest growth during the forecast years 2021-2028. On the other hand, the cargo trains sector seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of the Passenger Transit 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 gather noteworthy growth through the forecast years 2021-2028. The growth of the rolling stock market in this region is mostly ascribed to the growing demand for high speed trains which is getting fulfilled with German manufacturers. However, 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
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.
Segment Overview of Global Rolling Stock Market
Type Overview, 2019-2028 (USD Million)
- Freight Wagons
- Passenger Coaches
End-use Overview, 2019-2028 (USD Million)
- Passenger Transit
- Cargo Trains
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America