Press Release

India Railway Equipment Market to Grow at Substantial Rate During Forecast Period

Rising volume of transported products and expansion of the distance covered by logistics vehicles to drive India railway equipment market during forecast period

According to TechSci Research report, India Railway Equipment Market By Rolling Stock, By Railway Infrastructure, By Region, By Company, Competition, Forecast & Opportunities, 2024, India railway equipment market is anticipated to grow at a substantial CAGR during the forecast period on account of growing urban population, replacement of ageing rail equipment and rail infrastructure development. Indian railways is a massive public sector organization that manages the fourth largest rail network in the world in size, with about 121,407 kms of total track over a 67,368 kms route. Additionally, in 2017, it also became the world’s largest commercial enterprise in terms of number of employees. Increasing environmental awareness is one of the major factors that is propelling the demand for railway equipment by hampering the other modes of transportation. Moreover, the government regulations are greatly affecting the industry dynamics as government of the country is shifting its focus towards investing more on railway infrastructure by making investor-friendly policies enabling Foreign Direct Investment in railways to improve infrastructure for freight and high-speed trains. Currently, several domestic and foreign companies are also looking to invest in Indian rail projects.

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India railway equipment market can be segmented based on type, application and region. Among types, the rolling stock category (freight wagons, locomotives, passenger coaches, etc.) accounted for 43% of the total market in 2018 and is anticipated to maintain its position during the forecast years as well owing to rising development in this sector coupled with increased fuel prices. This has shifted the trend of freight transport from trucks to rails. In terms of application, EMU category is anticipated to witness the highest growth in the coming years owing to growing demand for dedicated freight corridor in a country.

Nokia Corporation, Kawasaki Heavy Industries, Ltd, Toshiba India Pvt. Ltd., Hitachi India Pvt. Ltd., Siemens, General Electric, Hyundai Rotem, Alstom, Bombardier Transportation India Pvt Ltd and Metalocaucho MTC (Wabtec company), among others are the leading players operating in India railway equipment market.

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“India railway equipment market is expected to grow substantially during the forecast period which can be attributed to several domestic and foreign companies that are looking to invest in Indian rail projects. Furthermore, some other factors like rise in domestic consumption, demand for freight transport, and growth in passengers are further fueling growth in the market. Additionally, long-term growth prospects are expected to be good for the railway equipment market driven by population growth, urbanization, global trade expansion, and increasing environmental awareness.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.

India Railway Equipment Market By Rolling Stock, By Railway Infrastructure, By Region, By Company, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of India railway equipment 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 India railway equipment market.

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India Railway Equipment Market By Type (Rolling Stock, Railway Infrastructure and Others), By Application (Locomotives, DMUs, EMUs, Freight Vehicles and Others), Competition, Forecast & Opportunities, 2024

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Rising volume of transported products and expansion of the distance covered by logistics vehicles to drive India railway equipment market during forecast period

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