The global rolling stock market size is expected to grow from USD 53.8 billion in 2022 to USD 64.8 billion by 2027, at a CAGR of 3.8%


New York, March 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Rolling Stock Market by Component, Product Type, Locomotive Technology, Application & Region – Global Forecast to 2027” – https://www.reportlinker.com/p04031784/?utm_source=GNW
Apart from this, a high-speed and affordable mode of transportation has become the necessity of urban areas to meet the daily needs of the public, which is fueling the investment in rapid transit projects across the world. These projects are expected to open up various new opportunities for major players operating in the rolling stock market.
COVID 19 has had a significant impact on the rolling stock market. In 2020, governments in different regions announced total shutdowns and temporary closures of industries, which affected the entire production process and hampered the global rolling stock market.

In 2020, the industry saw an approximately 13% drop in rail vehicle sales due to COVID-19. However, in 2021 the market has seen signs of recovery and has already exceeded the total number of new orders for new rolling stock in the first six months.

Moreover, in 2021, the impact of COVID-19 was negligible and manufacturing industries resumed operations, which brought the economy and demand for new rolling stock back on track. However, shortages of microchips and semiconductors hampered production. process in 2021.

Currently, modern trains are equipped with safety devices, which require software coding and sensors, so the shortage of electronic components and semiconductor chips has delayed the whole production process. According to industry experts, the effect of this situation is expected to last until the second quarter of 2022.

High loading capacity, low cost and shorter transportation time are the factors fueling the growth of freight transportation globally.

The freight transportation segment is expected to be the largest and fastest growing segment by type of application in the rolling stock market. The growing need for efficient transportation of industrial and commercial goods is driving the growth of the freight rolling stock market.

Rail transport is more efficient and cost-effective than other modes of transport. Therefore, various countries are encouraging the use of rolling stock for freight transportation.

For example, in 2020, France announced a doubling of freight transport from 9% in 2020 to 18% by 2030. Globally, the adoption of rolling stock for freight transport is gradually increasing due to high efficiency and low transport cost.

The Government of India has allocated a total fund of USD 18.22 billion to the Ministry of Indian Railways for 2022-23. China plans to develop a rail network in the Yangtze River Delta region (YRD) with an investment of $154 billion to support urbanization and the economy. These railway investments are expected to provide growth opportunities for the rolling stock market in the future. The freight application of rolling stock is expected to generate higher revenues for railway operating authorities. Additionally, several technological advancements in freight locomotives are also expected to provide new growth opportunities for the market. For example, Wabtec Corporation developed the FLXdrive battery-electric locomotive in the United States and completed testing in 2021 for freight transport.

Rapid electrification of power grids is driving demand for electric locomotives worldwide
There is an increase in the electrification of railways around the world, due to reduced vehicle emissions and operating costs.

The electric locomotives are free from smoke and combustion gases and are equipped with a traction motor that allows rapid acceleration. These features are significantly driving the demand for electric locomotives in the rolling stock market worldwide.

Heavy investments have been made for the electrification of railway networks due to growing concerns about CO2 emissions and to reduce dependence on fossil fuels. This has increased the growth rate of electrified rail networks and electric locomotives, especially in Asia-Oceania.

For example, Indian Railways plans to electrify the railway networks 100% by 2023. Moreover, the presence of reputable rolling stock manufacturers like CRRC Corporation Limited, Alstom SA and Hyundai Rotem Company has also increased the demand for electric locomotives in this region.
Rapid urbanization, increasing workforce in metropolitan cities, increasing traffic congestion are the factor driving the demand for metros globally
Current transport infrastructure limitations in developed and emerging economies have fueled the development of new and existing rail lines. The increase in traffic and population in urban areas has spurred the demand for environmentally friendly public transport options from commuters as well as governments.

Urban rail transport is superior to other modes of public transport in terms of cost and efficiency. Based on application, this report segments the rapid transit market into DMUs, EMUs, light rail/trams, and subways/metros.

Subways/subways are urban transport used for intra-city travel with limited passenger capacity. Thus, the growing demand for efficient transport, reduced travel times and increased traffic congestion are driving the demand for metros, especially in metros and Tier 1 cities around the world.

Additionally, several investments in urban transportation projects provide growth opportunities to the market. For example, in 2022, the Indian government has allocated a fund of $3,200 million for rapid transit system (MRTS) and metro projects.

Due to the presence of reputable global OEMs and the availability of a large production base, the Asia-Oceania region is expected to dominate the global rolling stock market.

Asia-Oceania is expected to account for the largest market share in terms of volume by 2027. Significant urbanization coupled with large volumes of goods transported by rail, increased demand for the metro rail network and corridors of Dedicated rail freight are the factors driving the demand for rolling stock in this region.

Apart from this, due to increasing production, domestic demand, capacity expansion of rolling stock manufacturers and increasing order volume, the region dominates the global rolling stock market . This increase in production makes it possible to meet the growing demand for rail transport and the concerns related to standards and regulations in terms of energy efficiency.

In addition to domestic markets, there is an increase in demand from international markets. For example, in February 2021, CRRC Corporation Limited won a contract to supply 10 diesel locomotives to New Zealand’s KiwiRail, and the company won a supply contract to supply 100 trams to Bucharest City Hall in Romania in the same year. .

Additionally, the region includes some of the fastest growing economies in the world, including China and India, providing opportunities for rolling stock manufacturers. The governments of these countries have recognized the growth potential of the rolling stock market.

In-depth interviews were conducted with CEOs, Marketing Managers, Commercial Managers and Executives from various key organizations operating in the rolling stock market. The distribution of the primaries is as follows:
• By type of business: OEM – 40%, Tier 1 suppliers – 42% and other – 18%,
• By designation: CXO – 23%, Manager – 43% and Executives – 34%
• By region: Europe – 25%, Asia-Pacific – 35%, North America – 20%, MEA – 15% and Rest of the world – 5%
The rolling stock market includes major manufacturers such as CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Wabtec Corporation (USA), Kawasaki Heavy Industries, Ltd. (Japan), Stadler Rail AG (Switzerland), CAF Group (Spain), Hyundai Rotem Company (South Korea), Mitsubishi Heavy Industries Engineering, Ltd. (Japan), Talgo (Spain), Transmashholding (Russia), etc.

Research Coverage:
The study covers the rolling stock market in various segments. It aims to estimate the market size and the future growth potential of this market in different segments such as type of application, type of locomotive technology, type of component, type of product and region.

The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.

Key Benefits of Purchasing the Report:
• The report will assist leaders/new entrants in this market with information on the closest approximations to revenue figures for the overall rolling stock market.
• The report will help stakeholders realize key railway projects and investments in different countries
• This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses and plan appropriate go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04031784/?utm_source=GNW

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