Press Release

Global Rolling Stock Market to Surpass $ 60 Billion by 2024

Growing need for energy efficient transportation systems and increasing need for public transport to drive global rolling stock market through 2024

According to TechSci Research report, Global Rolling Stock Market By Product Type, By Application, By Locomotive Technology, By Component, By Region, Competition, Forecast & Opportunities, 2024”, global rolling stock market is projected to cross $ 60 billion by 2024, owing to growing demand for public transport and increasing need for energy-efficient transport. Rolling stock has facilitated easy transportation with benefits such as cost-effectiveness, reliability, and comfort. Thus, demand for rolling stock has been on a steady rise over the past few years and this trend will continue during the forecast period.

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In terms of product type, global rolling stock market has been categorized into diesel locomotive, electric locomotive, electro-diesel locomotive, DMU, EMU, light rail/tram, subway/metro, coach, and wagons. The wagon segment dominated global rolling stock market in 2018 and is expected to maintain its dominance during the forecast period, on the back of growing demand for dedicated freight corridors in countries across the globe.

Asia-Pacific region is expected to account for the largest share in global rolling stock market during the forecast period. Growing demand for freight wagons and passenger coaches for existing and new railway lines is the primary factor anticipated to drive the region’s rolling stock market. Growth in Asia-Pacific rolling stock market can also be attributed to increasing investments in metro and electric trains in countries such as India, Taiwan and China. Moreover, South Korea, India and China are entering agreements with Japan for high-speed rail projects, which is expected to further drive the region’s rolling stock market over the course of next five years.

Browse 14 market data Tables and 150 Figures spread through 122 Pages and an in-depth TOC on"Global Rolling Stock Market"

“With rising population, demand for rail vehicles like local trains, trams and metros is also growing across the globe. Several national and cross-country railway projects in the European region are under planning, development or construction, which are expected to fuel demand for new locomotives and railroad vehicles. As a result, global rolling stock market is anticipated to register strong growth during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Global Rolling Stock Market By Product Type, By Application, By Locomotive Technology, By Component, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global rolling stock market and provides statistics and 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.

About TechSci Research

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