Global Rolling Stock Market will bolster by the increasing demand for energy-efficient transport, growing comfort and safety, and government initiatives to provide a faster, cleaner and safest transport system
Published | 23 August 2019
According
to BlueWeave Consulting, the Global Rolling Stock Market is expected to grow
with a significant rate during the forecast period 2019-2025 owing to the easy
transportation with benefits like cost-effectiveness, reliability, and comfort.
In some countries like the U.S., rolling stock term is also referred for the
wheeled vehicles used by for businesses on roadways. Requisite for reduced
traffic, cost efficiency and reliability has boosted the adoption of rolling
stock for transportation of passengers, goods, and animals. Better speed and
comfort offered by high-speed trains and maglev trains has driven passenger
preference from conventional to advanced trains.
With
the growing population in cities, demand for rapid urban transport is
increasing which is driving the demand for rolling stocks. Several developed
countries, as well as emerging countries, are focusing on expanding their rail
network for a better standard of living and economic growth. Urban rail transit
like metro and trams have emerged as reliable modes of city transport. Furthermore,
government initiatives to promote public transport as a means of reducing
traffic congestion and pollution is also boosting the global rolling stock
market.
Key Development:
· September 2018: CRRC Corporation Limited (CRRC) signed a
strategic agreement with TÜV Rheinland to improve their collaborative services
including international compliance testing and certification of rolling stocks.
· September 2018: Alstom received worth 315 million euro
contract by the Mumbai Metro Rail Corporation Limited (MMRCL) for Mumbai Metro
Line 3 to supply 248 metro cars
· March 2018: Siemens announced the investment of 200
million euros to start rolling stocks factory at Goole in the East Riding of
Yorkshire, UK. The company got approval from the Orange County Transportation Authority
to supply vehicles for the county’s Streetcar project.
Among Application,
freight transportation segment holds the largest market share of the global
rolling stock market during the forecast period
The application segment of
the global rolling stock market is led by freight transportation. Factors like
growing urbanization and communication innovations are projected to amplify the
freight transport market. Owing to globalization, companies are trading at an
international level requiring safer, more flexible and high capacity
transportation options. Freight transport allows the companies to deliver the
goods in quick time, and at a minimal cost. Flow in the international trade
along with a number of trade blocks is projected to optimistically influence
the freight transport market over the forecast period. Demand for passenger
transportation has been continuously growing globally.
Asia Pacific accounts for
the lion’s share of the Global Rolling Stock Market during the forecast period
Global Rolling Stock Market
by region can be sub-divided into North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa. The Asia Pacific is expected to be the
most lucrative region for rolling stock market in the coming years. Growing
population in the Asia Pacific region especially China, Japan, and India has
surged the demand for freight transport and boosted the market growth.
Additionally, the high adoption of metro and electric trains among countries is
expected to create numerous opportunities in the rolling stacks market. The
Middle East and Africa is projected to be the fastest-growing region over the
forecast period due to growing applications of rolling stock in the oil &
gas and mining industries for the transportation of goods.
Global Rolling Stock
Market: Competitive Landscape
Companies such as
Dell CRRC, Bombardier, Alstom,
Siemens, Kawasaki Heavy Industries, General Electric, Transmashholding, Stadler, Construcciones Y Auxiliar De
Ferrocarriles (CAF), Hyundai Rotem, Mitsubishi Heavy Industries, Talgo,
Hitachi, ABB, Toshiba, Woojin Industrial Systems, Thales Group, American
Equipment Company, Chittaranjan Locomotive Works (CLW), and UGL are the leading
players of rolling stock market across the globe.
The in-depth analysis of the
report provides the growth potential, upcoming trends and statistics of global
rolling stock market size & forecast. The report promises to provide
state-of-the-art technology of rolling stock production and industry insights
which help decision makers to take sound strategic decisions. Furthermore, the
report also analyzes the market drivers and challenges and competitive analysis
of the market.
About Us
BlueWeave Consulting is a one-stop solution for market intelligence regarding various products and services online & offline. We offer worldwide market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BWC has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients. We are one of the promising digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.
Contact Us:
https://www.blueweaveconsulting.com
Global Contact: +1 866 658 6826
Get Help
Relevant Press Releases
- Global Sweet Red Wine Market is majorly driven by the changing consumer habits and growing demand for red wines during the forecast period
- India Electric Two-Wheeler Market All Set to Flourish: Expected to Reach Worth USD 360.3 Million in 2027
- Global Consulting 4.0 Market is majorly driven by the increasing demand for the consultancies in commercial sectors during the forecast period
- Canada Baby car seat market is driven by stringent government laws and increasing awareness towards Child safety in coming years
- Global Polyolefin Elastomer Market is Forecast to Touch USD xx Billion by 2027, Growing at a CAGR of xx % From 2020 to 2027.