Rolling Stock Market Estimated at USD 54 Billion in 2021
Published | 04 March 2022
The rolling stock market is growing due to the rising demand for convenient public transportation infrastructure owing to increasing population along with expanding goods production and flourishing import and export activities across the globe…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global rolling stock market was worth USD 54 billion in 2021 and is forecast to reach USD 73 billion by 2028. The rolling stock market is gaining significant traction owing to the rising demand for convenient public transportation infrastructure owing to increasing population and rapid urbanization. Furthermore, expanding goods production and flourishing import and export activities are also emerging as major driving factors for the rolling stock market. However, the high initial investment involved in the procurement of rolling stock and railway infrastructure development may act as a huge restraining factor for the market.
Rising Government Investment in Railways Infrastructure Development in Emerging Economies
Railways are a crucial part of an economy as well as an efficient way for people and freight transportation. Leading emerging economies such as China and India are significantly investing in railways infrastructure. For instance, China has built more than 25,000 km of high-speed rail service over the last ten years, as the World Bank reported in September 2019. Railways are continuously witnessing a swell in their budget allocation by the governments to support the increasing number of passengers in their respective countries. This is anticipated to fuel the demand for rolling stock during the forecast period.
Increasing Demand for Rapid Transit is Driving the Rolling Stock Market
Based on product type, the rolling stock market is segmented into locomotives, rapid transit, wagons, and others. The rapid transit segment holds the largest share in the rolling stock market. The increasing investment towards the development of high-capacity public transportation systems including railways, metro, etc. However, the wagons segment is projected to witness the highest CAGR during the forecast period owing to the rising demand for transportation of goods due to flourishing industrialization and the need for transportation of energy goods such as coal.
Rolling Stock Market - By Application
Based on application, the rolling stock market is segmented into passenger transportation, and freight. The passenger transportation segment accounts for the largest share in the market. The increasing demand for mass transit systems owing to rising population and rapid urbanization is fueling the demand for low-cost and fast transportation systems, due to which the passenger transportation segment is gaining significant traction. The freight segment is also growing at a substantial rate owing to globalization and flourishing imports and export activities both domestically and internationally.
Request for Sample Report @ https://www.blueweaveconsulting.com/report/rolling-stock-market/report-sample
Rolling Stock Market - Regional Insights
Geographically, the rolling stock market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Europe holds the largest share in the rolling stock market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period owing to the increasing government spending towards infrastructure development including railways. The expanding use of railways for passenger and goods transportation in the domestic region owing to its lower cost acts as a major factor driving the growth of the market.
Impact of COVID-19 on Rolling Stock Market
The unprecedented COVID-19 pandemic outbreak negatively halted the growth of the rolling stock market. The restrictions on the manufacturing operations of the rolling stock products and components due to lockdown directly impacted the market growth, incurring huge losses to the OEMs. Furthermore, the restrictions on the imports and export activities also created a huge shortage of components even after the lockdown was uplifted in most parts of the world. The market is projected to witness slow growth in the forecast period as well since the countries have shifted their focus and investment towards the development of healthcare infrastructure.
The leading market players of the rolling stock market are CRRC Corporation Limited, Alstom SA, Siemens Mobility, Bombardier Transportation, Stadler Rail, Hyundai Rotem, Trinity Industries Inc., CJSC Transmashholding, Wabtec Corporation, Kawasaki Heavy Industries Ltd, DescriptionConstrucciones y Auxiliar de Ferrocarriles SA, Mitsubishi Heavy Industries Ltd., Hitachi Railway Systems, GE Transportation, and other prominent players.
The market is highly dominated by a handful of players, among which CRRC Corporation covers the most share. Market players are focusing on offering a wide range of products such as coaches, wagons, metro cars, diesel, and electric locomotives, etc., to diversify their product portfolio and boost their revenue. They often engage in partnerships and agreements with private and public infrastructure development companies to boost their sales. Furthermore, the adoption of other strategies such as mergers, acquisitions, collaborations, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the rolling stock market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the rolling stock market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Rolling Stock Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By Component (Train Control Systems, Passenger Information Systems, Pantographs, Brakes, Air Conditioning Systems, Axles, Auxiliary Power Systems, Wheel Sets, Gearboxes, Traction Motors), By Locomotive Technology (Conventional Locomotives, Turbocharged Locomotives, Maglev), By Product Type (Locomotives, Rapid Transit, Wagons, Others), By Application (Passenger Transportation, Freight), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
Publish Date: March 2022
The rolling stock market is growing owing to the expanding investments in railway transportation on account of the increasing demand for passenger mobility along with electrification of railway systems, especially in fast developing major economies like China and India.
Relevant Press Releases
- United States Construction Equipment Market to Grow at 6% CAGR
- Global Hybrid Electric Vehicle (HEV) Conversion Kit Market Size Booming to Touch USD 1.8 Billion by 2029
- Djibouti Tire Market to expand at Significant CAGR of 7.2% During 2023–2029
- India Electric Vehicle Battery Market Gaining Traction: Projected to Grow at a CAGR of 28.5% during 2022-2028
- Algeria Tire Market Size Set to Grow at Steady CAGR of 7.72% to Reach USD 628.75 Million by 2029