Rockville, June 22, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals that the Rolling Stock Market is set to touch US$ 89.50 billion by 2033, expanding at 4.1% CAGR from 2023 to 2033. Rolling stocks encompass all the types of wheeled vehicles that operate on railway tracks, such as passenger carriages, locomotives, cargo wagons, and self-propelled units.
Globally, there has been rising emphasis on expanding and improving railway infrastructure. Many countries are heavily investing in expanding their rail networks, constructing high-speed train lines, and modifying existing tracks and stations. This increasing infrastructure development is raising the demand for new rolling stocks, such as passenger coaches, freight wagons, and locomotives, to accommodate the increased transportation capacity.
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There is a global shift towards sustainable transportation solutions. Railways are recognized as an environmentally friendly mode of transport, offering advantages such as lower carbon emissions and reduced traffic congestion. Governments and transportation authorities are increasingly investing in railways to meet their sustainability goals. This includes expanding passenger rail services, improving urban transit systems, and promoting freight transportation by rail. The demand for rolling stocks is driven by the need to accommodate these sustainable transport initiatives, further contributing to market growth.
Technological advancements in rolling stocks, such as the integration of digital systems, improved safety features, and passenger comfort enhancements, are also adding to market expansion.
Key Takeaways from Market Study
- The global rolling stocks market amounted to US$ 59.88 billion in 2023.
- Worldwide demand for rolling stocks is predicted to expand at a CAGR of 4.1% from 2023 to 2033.
- The market is predicted to hit a valuation of US$ 89.50 billion by 2033.
- The Chinese market is forecasted to reach US$ 19.51 billion by 2033.
- By type, the locomotives segment is poised to rise at a CAGR of 4.9% during the study period.
“The global rolling stocks market is experiencing steady growth due to increasing investments in rail infrastructure, the need for efficient mass transit systems, and rising emphasis on sustainable transportation solutions,” says a Fact.MR analyst.
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Competitive Landscape
Manufacturers of rolling stock are focusing on providing agility, comfort and fuel efficiency.
- CRRC Corporation Limited (CRRC), a rolling stock giant signed a strategic agreement with TÜV Rheinland, a global technical service provider – to improve their collaborative services including international compliance testing and certification of rolling stock in September 2018.
- Siemens announced the investment of 200 million euros to start rolling stock factory at Goole in the East Riding of Yorkshire, UK in March 2018. In April, the company got approval from the Orange County Transportation Authority to supply vehicles for the county’s Streetcar project.
- In May 2021, Siemens Mobility and Stadler jointly won a € 114.5 million (US$ 135 million) contract to provide the Lisbon Metro with a state-of-the-art signalling system and a new fleet of modern trains, with the latter agreeing to supply 14 three-car metro trains
Key Companies Profiled
- CRCC Corporation Limited
- Alstom
- CAF
- Hyundai Rotem Company
- CJSC Transmash Holding
- Siemens
- Staddler Rail AG
- Kawasaki Heavy Industries Ltd
- Hitachi Rail Limited
- Bombardier
Regional Analysis
Asia Pacific is dominating the worldwide rolling stocks market. There is a significant emphasis on infrastructure development across countries in the region, leading to increased demand for rolling stocks. Governments are investing in expanding and modernizing their railway networks to accommodate growing transportation needs.
China, Japan, and South Korea are instrumental in supporting the regional market's growth. China's high-speed rail projects, extensive railway network, and urban transit systems are driving market growth through infrastructure investments. Japan's technological expertise and export-oriented approach are contributing to the regional market by exporting trains and technologies. South Korea's infrastructure development, technological capabilities, and government support are also fueling market growth in the region.
Key Segments Covered
- Product Type
- Locomotives Rolling Stock
- Passenger Coaches Rolling Stock
- Multiple Units Rolling Stock
- Freight Wagons Rolling Stock
- Application
- Freight Application
- Passenger Application
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global rolling stocks market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market based on type (locomotives, metros, passenger coaches) and application (passenger transportation, freight transportation), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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