The Global Rolling Stock Market is estimated to be $54.43 billion in 2018 and is projected to reach $73.80 billion by 2025, growing at a CAGR of 4.44% from 2018 to 2025. The growing requirement for public transport as a mode to reduce traffic congestion is expected to foster the growth of the rolling stock market.
• Big data applications in the rail industry
• Increase in industrial and mining activity
There has been a rapid increase in the number of technological advancements in the rolling stock market. This can be primarily attributed to the growing demand for features that ensure the convenience and safety of passengers. Similarly, rolling stock is being innovated, and new vehicle concepts are developed for non-electrified railway lines to reduce carbon emissions further. For example, rolling stock manufacturers are experimenting with emission-free trains equipped with fuel cell drive.
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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 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.
The freight wagons market is estimated to be the fastest-growing segment, by application, in the rolling stock market. It is followed by the passenger coaches market. This can be attributed to the custom-made and technologically advanced wagons such as chemical and pressure tank wagons and car-carrier and low-loader container-carrying wagons. The demand for freight wagons is high in the US, China, and Russia because of replacement demand and growth of the manufacturing sector in these countries.
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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.
• Associations related to the railway industry
• Government authorities
• Infrastructure providers for railway lines
• Legal and regulatory authorities
• Manufacturers of rail components
• Rail leasing authorities
• Railway contractors
• Railway manufacturers
• Railway organizations
• Raw material suppliers of railway components
• Raw material suppliers of rolling stock
• Rolling stock components manufacturers
• Rolling stock industry associations
• Rolling stock rail service providers
• Traders, distributors, and suppliers of rolling stock