NEWARK, Del, Aug. 06, 2024 (GLOBE NEWSWIRE) -- 
The railway rolling stock market is a fundamental component of the transportation industry and is set to experience significant growth in the coming years. According to Future Market Insights, the market valuation could reach USD 6.43 billion by 2034, up from USD 3.87 billion in 2024, representing a moderate CAGR of 5.20%.
The primary driver of the railway rolling stock market growth is the investments made in railway infrastructure. These investments aim to modernize locomotives, install stronger brake systems, and enhance passenger comfort to improve the overall infrastructure. The need for railway rolling stock is expanding due to the deployment of vehicles that can carry high loads by public and private organizations, improving the nation's transportation infrastructure.
The growth of the railway rolling stock market is also attributed to the acquisition of new locomotives, coaches, and wagons, as well as infrastructure upgrades such as track reduction and modern signaling systems. Technological advances have enabled the development of energy-efficient rolling stock, such as electric locomotives using regenerative braking, computer vision, and artificial intelligence, enhancing railway transportation safety.
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The demand for railway transportation is surging due to high costs, which necessitates real-time condition-based maintenance procedures for rolling stock, infrastructure, OEMs, rail operators, and suppliers. This has led to adopting advanced technologies and solutions such as predictive maintenance, which can identify potential issues before they cause significant problems. The railway rolling stock market is expected to grow as the transportation industry increasingly relies on railways to move goods and people efficiently.
Key Takeaways from the Railway Rolling Stock Market
- The railway rolling stock industry in the United States is projected to experience a CAGR of 5.1% through 2034.
- The Germany railway rolling stock market is expected to demonstrate a CAGR of 6.7% by 2034.
- Japan's railway rolling stock industry is also anticipated to see a CAGR of 6.7% from 2024 to 2034.
- The railway rolling stock industry in India is expected to showcase a CAGR of 5.7% through 2034.
- China's railway rolling stock market is expected to display a CAGR of 4.8% by 2034.
Major Trends Witnessed by the Global Railway Rolling Stock Market Participants
Recent movements to reduce fossil fuel consumption and the introduction of modern energy sources have also impacted the market considerably. As a result, many market players have introduced rolling stocks with hydrogen fuel battery facilities.
Installation of solar panels on the rooftop to meet the energy requirement in rolling stock units is at the development stage. Higher investment in this endeavor from external sources is also anticipated to have a significant impact on the emerging trends in the railway rolling stock.
However, the establishment of some other modes of transport like regional airways is estimated to limit the overall market growth.
In the logistics sector also, the growing use of transmission pipelines for the transport of raw materials has reduced the demand for railway rolling stocks.
The increasing use of transmission pipelines to transport raw materials in the logistics sector has reduced the demand for railway rolling stocks.
Category-wise Insights
In broad terms, the overall market is segmented into non-powered rolling stocks or railcars and powered rolling stock or locomotives sector. Currently, the electric railcars sector is dominating the sales of railway rolling stock around the world. Ongoing infrastructure development work in emerging economies is projected to keep this segment profitable for many years to come.
High-speed and tube trains are emerging to be the most profitable segment for railway rolling stock manufacturers. Moreover, this sector is also likely to perform remarkably for the market players and overtake the passenger train segment in the upcoming years.
“The demand for railway rolling stock is expanding due to infrastructural improvements and the use of cutting-edge digital technologies. The use of high-load trucks by both public and private entities is growing the market. Electric locomotives are one example of energy-efficient rolling stock thanks to technological advancements. Predictive maintenance solutions are being used due to the high costs associated with real-time condition-based maintenance methods. The sector is anticipated to expand as more and more transportation depends on railroads for effective transit.” - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape of the Railway Rolling Stock Market
The railway rolling stock manufacturing industry is highly consolidated, with only a few major players dominating the market due to high capital expenditure and a well-established trade network. These market leaders have achieved significant success and hold a substantial market share, creating a sense of market stability. In the coming decade, railway industry players are expected to implement strategies to expand operations and increase their market share.
One strategy is forming strategic alliances, combining resources, knowledge, and expertise. Another strategy is launching new products and services to improve safety, efficiency, and comfort. Developing novel technology, such as artificial intelligence and IoT, can optimize operations, reduce costs, and enhance customer travel experiences. These strategies are expected to drive demand for railway rolling stock and help the global industry cultivate and succeed.
Key Players
- CRRC Corporation Limited
- Alstom SA
- Siemens AG
- GE Transportation
- IHI Corporation
- PPF Group N.V.
- Stadler Rail AG
- Tatravoganka A.S. Poprad
- Wabtech Corporation
- Kawasaki Heavy Industries Ltd.
- The Greenbrier Companies, Inc.
- The Kinki Sharyo Co., Ltd.
- PESA Bydgoszcz SA
- MAPNA Group
Recent Developments in the Railway Rolling Stock Market
- With intentions for medium-term development throughout Europe, Siemens Mobility formed Smart Train Lease in February 2024 as a leasing business to provide short-term, flexible rental of its Mireo Smart trains throughout Europe, including battery, hydrogen, and electric variants.
- In keeping with the Indian government's "Make in India" and "Atmanirbhar Bharat" efforts, ABB and Titagarh Rail Systems established a strategic collaboration in November 2023 to supply propulsion systems for metro rolling stock projects in India. The agreement has already resulted in orders for metro coaches in Gujarat.
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Key Segmentations
By Wheel Type:
- Monoblock Wheels
- Resilient Wheels
- Rubber Tired Wheels
- Steel Tired Wheels
- Other Special Wheels
By Axle Type:
- Hollow Axles
- Solid Axles
By Train Type:
- Very High Speed Trains
- Mainline Trains
- Metro Trains
- Freight Trains
- Special Vehicles
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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