Rolling Stock Market to Grow with a CAGR of 6.07% Globally through to 2028
Technological Innovations
and Digitalization, Sustainability Imperatives and Electrification, and
Infrastructure Development and High-Speed Rail Projects are factors driving the
Global Rolling Stock market in the forecast period 2024-2028.
According
to TechSci Research report, “Global Rolling Stock Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Rolling Stock Market stood at USD 50.97 billion in 2022 and is
anticipated to grow with a CAGR of 6.07% in the forecast period, 2024-2028. All cars that move on rail wheels are
referred to as Rolling Stock. It includes both powered and unpowered
automobiles. Wagons, passenger carriages, and locomotives are examples of
Rolling Stock. Car body, car body fittings, power system, guidance, auxiliary
systems, propulsion, braking system, interiors, on-board vehicle control, door
system, cabling & cabinets, HVAC (heating, ventilation, and air
conditioning), lighting, tilt system, coupler, and Passenger Information System
(PIS) are some of its many components. Over the next several years, the market
will grow due to favourable trends in both passenger and freight
transportation.
Browse over
market data Figures spread through 180 Pages and an in-depth TOC on
"Global Rolling Stock Market”
The global
rolling stock market has emerged as a critical component of the transportation
sector, playing a pivotal role in the movement of goods and passengers across
the world. Rolling stock refers to the collection of vehicles, including
locomotives, passenger cars, and freight cars, that operate on a railway track.
This market is characterized by its dynamic nature, influenced by factors such
as technological advancements, regulatory changes, and economic trends. One of
the key drivers of the global rolling stock market is the increasing demand for
efficient and sustainable transportation solutions. As urbanization accelerates
and populations grow, the need for reliable and environmentally friendly modes
of transportation becomes paramount. Rail transport has gained prominence as a
viable option, offering advantages such as lower emissions, reduced traffic
congestion, and energy efficiency. Governments and private entities alike are
investing in modernizing and expanding their rail networks, thereby boosting
the demand for new rolling stock.
Technological
innovation has been a game-changer in the rolling stock market. The integration
of advanced technologies such as automation, artificial intelligence, and
digitalization has led to the development of smart and connected trains. These
trains offer real-time monitoring, predictive maintenance, and improved safety
features. The implementation of such technologies not only enhances the overall
efficiency of rail operations but also contributes to a safer and more reliable
transportation system. The market is also influenced by the regulatory
landscape, as governments around the world implement policies to promote
sustainable transportation. Stringent emission standards and a growing emphasis
on reducing the carbon footprint have encouraged the adoption of electric and
hybrid locomotives. Electrification of rail networks is a key trend in the
rolling stock market, driven by the environmental benefits and the push towards
a low-carbon economy.
Another factor
shaping the rolling stock market is the globalization of trade. As
international trade continues to expand, the demand for freight transportation
grows. Rail freight offers a cost-effective and efficient solution for
transporting goods over long distances. This has led to increased investments
in freight rolling stock, including specialized cars for transporting goods
such as chemicals, automobiles, and perishable items. The development of
high-speed rail networks in some regions has further facilitated the movement
of goods and strengthened the global rolling stock market.
The competitive
landscape of the global rolling stock market is characterized by the presence
of both established players and new entrants. Major manufacturers in the
industry continuously strive to innovate and introduce new technologies to gain
a competitive edge. Collaboration and partnerships between rolling stock
manufacturers and technology companies have become common, fostering a culture
of innovation within the industry. Additionally, market consolidation through
mergers and acquisitions is a prevalent trend as companies seek to expand their
product portfolios and geographic presence.
Despite the
positive trends, the rolling stock market faces challenges that require careful
consideration. One of the primary challenges is the high initial capital
investment required for the development and acquisition of rolling stock.
Governments and private investors must navigate financial considerations and
seek innovative financing solutions to support large-scale rail projects.
Additionally, the maintenance and operation of rolling stock necessitates
ongoing investments, highlighting the importance of a sustainable and long-term
approach to the industry.
The global
rolling stock market is poised for further evolution as technological
advancements continue to reshape the landscape. The adoption of alternative
fuels, the development of high-speed rail networks, and the integration of
smart technologies will be key drivers of growth. As the world strives for more
sustainable and efficient transportation solutions, the rolling stock market
will play a central role in shaping the future of global mobility.
Major companies
operating in Global Rolling Stock Market are:
- CRRC Corporation Limited
- Alstom
- Siemens Mobility
- Hyundai Rotem Company
- GE Transportation
- Wabtec Corporation
- Hitachi Rail Limited
- CSC Transmashholding
- Stadler Rail
- Kawasaki Railcar Manufacturing Co, Ltd
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“The
global rolling stock market is undergoing dynamic transformation, driven by a
surge in demand for sustainable transportation solutions, technological
innovation, and increased investment in rail infrastructure. Rising
urbanization, coupled with environmental concerns, is steering governments and
private entities toward rail transport, propelling the market forward. The
integration of advanced technologies, such as automation and artificial
intelligence, is enhancing the efficiency and safety of rolling stock.
Furthermore, the market is witnessing globalization trends, with major players
like China making significant contributions. As the industry continues to
evolve, collaboration, innovation, and a focus on sustainability are crucial
factors shaping the trajectory of the global rolling stock market.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Rolling Stock Market– Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Type (Locomotives,
Wagons, Passenger Coaches, Others), By Propulsion Type (Diesel, Electric,
Electro-Diesel), By Application Type (Passenger, Freight), By Region, Competit”,
has evaluated the future growth potential of Global Rolling Stock Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Rolling Stock Market.
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