The Global Rolling Stock Market is set to exhibit a compound annual growth rate (CAGR) of 4.98% from 2017 to 2025 asserts Market Research Future (MRFR) in its latest report. It is projected that Europe and Asia-Pacific (APAC) are expected to emerge as the two major growth markets during the forecast period. The rolling stock market in Europe is characterized by a large number of market players, which makes it highly competitive. Many of the players have superior knowledge in freight technology, which gives them a competitive edge. In Asia, the market growth is primarily driven by the exponential growth of transportation across the region. The region is home to two of the most densely populated countries – China and India that are in need for efficient and cost-effective transportation solutions. Local policymakers have been supportive of the development of transportation infrastructure. Investment have continued to grow in developing robust metro and inter-city trainsets and main line locomotives.
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Segmental Overview
The segmental analysis of the global rolling stock market has been conducted on the basis of type, train type, and product type.
On the basis of type, the market has been segmented into electric and diesel. The diesel segment is expected to maintain its dominant position throughout the assessment period. The strong requirement for high-torque engine in rail freights continues to drive the segment’s growth. Based on train type, the market has been segmented into passenger tail and rail freight. The rail freight segment is expected to remain highly attractive during the forecast period. Rail freights play an important role goods transportation operation worldwide. The global demand for rail freights is expected to remain high over the next couple of years. Industrial growth in regions such as Asia, the Middle East, and Latin America has reflected favorably on the demand for rail freights. Based on product type, the market has been segmented into locomotive, rapid transit vehicle, and wagon. The wagon segment represents a significant share of the global market in terms of revenue. Wagons are used extensively for transporting cargo.
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Regional Segmentation
Some of the key regions covered in MRFR report include North America, Latin America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. The Europe market is expected to remain highly attractive during the forecast period. Given the vastness of railways in the region, rolling stock demand remain strong in the region. However, the sector is undergoing tremendous transformation owing to policy reforms, integration of new technologies, and implementation of environmental laws. The growing emphasis on electric mobility is creating unique opportunities for electric variants. German remains a key market for rolling stock in Europe, the country is home to several renowned rolling stock manufacturers. Some of the factors such as favorable policies, a stable business climate, presence of several companies with expertise in freight technologies puts Germany in a superior position in the global rolling stock market.
Industry News Updates
- Spain-based rail solution developer ConstruccionesyAuxiliar de Ferrocarriles, S.A (CAF) has reportedly purchased 100% stake in EuroMaint, a rolling stock maintenance service company. The acquisition saw CAF splash out approximately €80m.
- HS2 Ltd has reportedly received five bids for the estimated £ 2.75 Bn railway contract for the U.K. The contract will include designing, manufacturing, and maintenance of the country’s High Speed 2 train fleets.
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Competitive Landscape:
The major companies and key players of the market are expanding their company by acquiring small companies, collaborating with other potential companies, launching new and advanced rolling stocks, etc. New strategies are adopted by the market to stand out situations like a global pandemic. Some of the key players of the market are:
- Hitachi Ltd.
- GE Transportation
- Electro-Motive Diesel (EMD)
- Kawasaki Heavy Industries Rolling Stock Company
- Construcciones Y Auxiliar de Ferrocarriles
- CRRC Corporation Limited
- Bombardier
- Alstom
- Transmashholding Stadler Rail AG
- Hyundai Rotem Company
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