The Rolling Stock Market is witnessing significant growth due to a confluence of factors, including rising investments in railway infrastructure, increasing adoption of advanced digital solutions, and a growing preference for sustainable transportation options
The Rolling Stock Market, valued at USD 64 Billion in 2023, is anticipated to reach a valuation of USD 105.92 Billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Infrastructure Investments and Technological Advancements
The rolling stock market is flourishing thanks to a powerful combination of factors. Firstly, governments and other stakeholders are pouring more money into railway infrastructure. This translates to significant modernization efforts across the board. Locomotives are getting upgrades, passenger coaches are becoming more comfortable, and environmentally friendly technologies like electric trains and alternative fuels are being incorporated. Additionally, network expansions are underway, necessitating the purchase of new rolling stock and infrastructure improvements.
Get a Free Sample PDF Copy of the Latest Research @ https://www.snsinsider.com/sample-request/1216
Tech Revolutionizes Rail
Secondly, technological advancements are playing a game-changing role. Modern electric locomotives are equipped with regenerative braking systems, which capture the energy lost during braking and store it for later use, leading to reduced energy consumption and lower costs. Technologies like computer vision, artificial intelligence, and Positive Train Control (PTC) are also making rail travel safer than ever before. These systems can detect obstacles on the tracks, monitor train performance, and even automatically prevent collisions.
South Korea plans to phase out all diesel-hauled passenger trains by 2029, while Germany aims to accelerate network electrification. Similarly, India, with its well-electrified rail network, is witnessing significant government support. In 2022, Indian Railways received a budget allocation of USD 18.6 billion, with plans for modern trains and privatization on selected routes. The UK government also announced plans to invest heavily in its rail network.
Innovation Tackles High Costs
However, the high price tag associated with trains, rolling stock equipment, and infrastructure necessitates an innovative approach. To address this challenge, rolling stock Original Equipment Manufacturers (OEMs), rail operators, and third-party suppliers are shifting their focus to real-time, condition-based maintenance practices. This allows for near-time data analytics, which in turn leads to improved maintenance procedures and ultimately reduces costs.
Prominent Manufacturers of Rolling Stock Market
- Alstom Transport
- CRRC Corporation Limited
- GE Transportation
- Hitachi Rail System
- Hyundai Rotem
- Kawasaki Heavy Industries, Ltd.
- Siemens Mobility
- Stadler Rail AG
- The Greenbrier Co.
- Trinity Rail
Recent Developments
February 2023: Stadler Rail AG partnered with research institutions for the development of a battery-powered passenger train based on the FLIRT Akku concept. This project aims to provide insights into battery-powered train technology for decarbonizing passenger rail transportation in the US.
January 2023: Siemens Mobility secured a record-breaking order from Indian Railways for 1,200 locomotives with 9,000 HP. This project signifies the growing demand for modern locomotives in developing economies.
Enquiry or Share Your Questions If Any Before Purchasing This Report @ https://www.snsinsider.com/enquiry/1216
Reforms and Enhancements Elevate Passenger Experience
Furthermore, the industry is undergoing significant reforms. Exciting new features are being introduced in both trains and infrastructure. For instance, electric-diesel trains are being deployed, offering enhanced passenger amenities like Wi-Fi, visual and auditory announcements at stations, and improved accessibility features for those with disabilities. These advancements are expected to significantly improve the overall quality of rail transport services, making it a more attractive option for passengers.
Market Segment
By Product Type
- Locomotive Coaches
- Rapid Transit
- Wagon
By Type
- Diesel
- Electric
By Train Type
- Rail Freight
- Rail Passenger
Segment Analysis
Product Type Insights: The wagons segment dominated the market in 2023, holding a 35% share due to their high speed, affordability, and comfort. Governments and private players prefer wagons for domestic and international cargo movement due to their high-volume capacity and cost-effectiveness.
Type Insights: The diesel segment held the largest market share in 2023 due to the low cost and easy availability of diesel engines. Additionally, the growing demand for freight transport and the slow pace of diesel-to-electric conversion contribute to this segment’s growth. Manufacturers are developing turbocharged diesel vehicles for increased efficiency.
Train Type Insights: The rail freight segment led the market share in 2023. Rail freight is considered an integral part of the global supply chain, offering a cost-effective and environmentally friendly alternative to road transport for high-volume goods. Digitalization of freight operations is enhancing safety, productivity, and overall efficiency.
Impact of Geopolitical Events
The ongoing Russia-Ukraine war has had a multifaceted impact on the rolling stock market. Disruptions in global supply chains have affected the availability of raw materials and components, leading to price hikes and production delays. Additionally, sanctions imposed on Russia have impacted major rolling stock manufacturers with operations in the region.
However, the war has also highlighted the importance of secure and reliable transportation networks, potentially leading to increased government investments in infrastructure development, which could benefit the rolling stock market in the long run.
Asia-Pacific Is Anticipated To Hold The Major Market Share In The Coming Years
This region is home to some of the largest passenger rail networks globally, with countries like China, India, and Japan leading the way. These countries are actively investing in railway infrastructure upgrades and expanding networks. Additionally, several major rolling stock manufacturers, such as CRRC Group (China), are headquartered in this region.
China invested heavily in fixed rail assets in 2021 and planned to construct thousands of kilometers of new railway lines in 2022, including both high-speed and regular tracks. Similarly, India is consolidating its rolling stock manufacturing units and implementing advanced monitoring systems to improve efficiency.
Key Takeaways from the Rolling Stock Market Study
- The market is expected to witness a steady growth rate due to rising investments in railway infrastructure, technological advancements, and a growing preference for sustainable transport options.
- Increasing electrification of railway networks will drive the demand for electric locomotives and EMUs.
- Passenger experience and safety enhancements through big data analytics and intelligent rail systems will be key growth drivers.
- The wagons segment is currently dominant, but the future might see a shift depending on economic conditions and infrastructure development priorities.
- Asia-Pacific is expected to remain the leading market due to significant government investments and the presence of major manufacturers.
Buy Now This Complete Research Report at Discounted Price @ https://www.snsinsider.com/discount/1216
Our Other Trending Report
