Rolling Stock Market: Analysis with Ongoing Trends & Developments

The Global Rolling Stock Market is estimated to be USD 51.6 billion in 2020 and is projected to reach USD 64.3 billion by 2025, growing at a CAGR of 4.5% from 2020 to 2025.

The growth of the rolling stock market can be attributed to the increasing urbanization and increase in demand for passenger and freight transportation across the globe. The growing requirement for public transport as a means of mass transportation is expected to foster the growth of the rolling stock market.

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.

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). 

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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 projected to lead the electro-diesel locomotives market. The European and the Asia Oceania regions are focusing on the development of electrified tracks. However, 100% electrification of railways is time- as well as capital-intensive. By the time the electrification of tracks completes, there is expected to be high demand for electro-diesel locomotives, especially in the European region.

The conventional locomotives market is projected to grow at the highest CAGR from 2020 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. 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. The increased mining activities in emerging economies are expected to impact the market for freight transportation positively. For instance,2019–2020, more than 1,210.4 million tons of freight was transported in India through the railways. The growth of freight transportation is expected to propel the growth of freight wagons and locomotives consequently.

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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 high growth potential market to gain traction in the rolling stock market.

Recent Developments:

1. In December 2020, Alstom and ASELSAN entered into a collaboration agreement to establish a framework of cooperation and coordination in the field of ETCS Signaling Onboard.
2. In December 2020, Alstom successfully conducted the first test run for the Mostaganem tramway project. During this phase, Alstom’s tramways have run from the secondary storage park T2 section to SNTF station, approximately 2 km
3. In Sept 2020, Stadler presented its new rail vehicles equipped with European train control systems to be operational by 2021.
4. In March 2020, Stadler won a contract to supply 1,500 Metro cars to Berlin Verkehrsbetriebe. The agreement is worth USD 3.2 billion which also includes the provision of spare parts.
5. In December 2019, Bombardier received the official Paris Transport Administration (RATP) order confirming that the Bombardier-Alstom consortium has been awarded the contract to design and produce the new generation of metros for Île-de-France Mobilities and RATP.
6. In November 2019, CAF Signaling continues to broaden operations in foreign markets having won the contract for the Ferrocarril Central project in Uruguay. The entire contract is worth approximately USD 56 million
7. In October 2019, Siemens Mobility showcased the latest in intelligent traffic systems technology at ITS World Congress which took place in Singapore.
8. In May 2020, CRRC acquired locomotive manufacturer Vossloh Group in Europe. The deal came into effect on 31st May 2020
   In July 2019, CRRC Zhuzhou Institute Co., Ltd., a part of CRRC Corporation Limited, released the fully self-owned communication-based train control (CBTC) signalling system tSafer-UC1000
9. In Feb 2019, GE announced the completion of its merger with Wabtec for USD 2.9 million in cash and Wabtec nonvoting convertible preferred stock.
10. In December 2017, Chargepoint introduced Vallet view, a feature to see a real-time charging status.

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