Global Rolling Stock Market, By Product (Locomotive, Rapid Transit Vehicle, Coaches, Wagons, and Other Products), By Type (Diesel and Electric), By Train Type, By Locomotive Technology, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 15144
- Number of Pages: 307
- Format:
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Report Overview
The Global Rolling Stock Market size is expected to be worth around USD 89.9 Billion by 2032, From USD 56.4 Billion by 2023, growing at a CAGR of 4.90% during the forecast period from 2023 to 2032.
Increased urbanization, increased traffic congestion, rising demand for comfortable travel, and growing inclination for shorter journeys are all reasons that have contributed to the rolling stock market’s expansion. Any vehicle that can travel on rails is referred to as rolling stock in the railway transportation sector. Both powered vehicles include locomotives and non-powered vehicles such as passenger coaches, freight wagons, and others are included.
The use of autonomous rolling stock is becoming more prevalent at present. Trains that operate or function without a driver include automated trains and driverless trains, for instance. From the control station, they are automatically regulated and monitored.
It is regarded as one of the cost-effective forms of transportation for long-distance delivery of bulky items. In addition, it is simple to customize to the precise needs of the customer and offers a higher carrying capacity than traditional modes of transportation.
Driving Factors
Increasing demand for efficient and reliable transportation:
The demand for rolling material is increasing, especially in metropolises, as people are looking for reliable, fast, and quick transportation systems. Worldwide, people are searching for cost-effective, safe, and rapid transportation systems. Rolling stock such as railcars and trains are used to transport heavy loads over long distances.
Rapid urbanization:
To handle the increased population in urban areas, better transportation infrastructure is required. This has caused the need for new train stock and the growth of railway networks.
Government investments:
Many governments all around the world are investing in the construction of rail infrastructure to reduce traffic congestion, reduce carbon emissions, and increase the efficiency of transportation. As a result, rolling stock is becoming more necessary.
Restraining Factors
Limitations of the infrastructure:
The development of new train stock necessitates substantial infrastructure investments, including brand-new rail lines, signaling systems, and maintenance facilities. It may be difficult to integrate new rolling stock into a transportation system without these investments.
Competition from other modes of transportation:
Vehicles, buses, and planes are various modes of transportation that compete with rolling stock. While certain routes and distances may benefit from rolling stock, certain passengers may find other means of transit to be more practical or cost-effective.
Growth Opportunities
Increasing demand for urban transit systems:
The demand for urban transit systems is growing as cities grow. Light rail, metro systems, and commuter trains all require rolling stock, as well as other equipment.
Emerging markets:
To promote economic growth, many emerging markets, especially in Asia and Africa invest in new rail infrastructure. Rolling stock manufacturers can take advantage of this opportunity to offer new technology and equipment.
Expansion of high-speed rail networks:
Many countries invest in the expansion of high-speed railway networks, due to an increasing demand for quicker transportation options. The manufacturers of rolling stocks can now provide high-speed rails and other equipment.
Latest Trends
Digital technologies are becoming more prevalent:
Manufacturers of rolling stock are increasingly using digital technologies, such as sensors and data analytics to enhance train performance, lower maintenance costs, and improve passenger experience.
Demand for maintenance services is increasing:
As the focus shifts to reducing maintenance costs, and improving train reliability there is a growing demand for services. This covers condition-based maintenance and predictive maintenance, which use data analytics and sensors to find possible problems before they arise.
By Product Analysis
The Rapid Transit Vehicle Segment Accounted for the Largest Revenue Share in the global rolling stock Market in 2022
Based on product, the market is segmented into locomotives, rapid transit vehicles, coaches, wagons, and other products. Among these products, the rapid transit vehicle segment is expected to be the most lucrative in the global rolling stock market, with the largest revenue share of 32%.
The growing urban population prefers using public transportation because of its excellent speed, affordability, and comfort of travel. Additionally, as they operate by electricity, rapid transit vehicles are positioned as environmentally beneficial by their train-type source. Long-distance commuting is a result of expanding cities and towns brought on by increased urbanization.
This, requires government agencies to start public transportation initiatives for rapid transit vehicles like metros and passenger trains, resulting in increased investment in the rolling stock and infrastructure of rapid transport.
By Type Analysis
The electric Segment Accounted for the Largest Revenue Share in the global rolling stock Market in 2022
Based on type, the market is segmented into diesel and electric. Among these types, the electric-based segment is expected to be the most lucrative in the global rolling stock market, with the largest revenue share of 62%.
Compared to diesel trains, electric trains generate less carbon monoxide and are more environmentally friendly. As a result, market growth is being boosted by investments in the creation of technology and infrastructure for electric railroads.
Even as nations work to electrify their railways, many rolling stock fleets still use diesel trains. because they can transport goods trains loaded with large products. Due to their higher torque engines, they are frequently used for industrial purposes. Diesel train technology is developing low-emission engines for diesel locomotives as globally expands more environmentally conscious.
By Train Type Analysis
The Rail Passenger Segment Accounted for the Largest Revenue Share in the global rolling stock Market in 2022
Based on train type, the market is segmented into rail freight and rail passenger. Among these train types the rail passenger segment is expected to be the most lucrative in the global rolling stock market, with the largest CAGR of 8.4%.
The need for passenger trains increased along with the population’s steady growth. In April 2022, Indian Railways and Wabtec Corporation, under the Central Organization for Modernization of Workshops (COMW), announced a maintenance contract. This contract falls under the SMART Yard policy of Indian Railways. It is for a system that allows online monitoring of rolling stock (OMRS).
The OMRS will increase the availability and reliability of the railroad fleet’s coaches, wagons, and locomotives through the identification and repair of issues and the prevention of in-service failures.
By Locomotive Technology Analysis
The Conventional Locomotive Segment Accounted for the Largest Revenue Share in the global rolling stock Market in 2022
Based on locomotive technology, the market is segmented into Conventional Locomotives, Turbocharged Locomotive, and Maglev. Among these locomotive technologies, the conventional locomotive segment is expected to be the most lucrative in the global rolling stock market.
The Asia-Oceania area currently leads the world in rolling stock production, and it is anticipated that it will continue to do so during the forecast period for conventional locomotives.
Rolling Stock Key Market Segments
Based on Product
- Locomotive
- Diesel Locomotive
- Electric Locomotive
- Electro-Diesel Locomotive
- Rapid Transit Vehicle
- DMU
- EMU
- Light Rails/Trams
- Subways/Metros
- Monorails
- Coaches
- Wagons
- Other Products
Based on Type
- Diesel
- Electric
Based on Train Type
- Rail Freight
- Rail Passenger
Based on Locomotive Technology
- Conventional Locomotive
- Turbocharged Locomotive
- Maglev
COVID-19 Impact Analysis
Supply Chain Disruptions:
The pandemic has caused disruptions in the supply chain, particularly in the availability of raw materials and components. Many countries imposed lockdowns and restrictions on movement to control the spread of the virus, which led to factory closures and transportation disruptions. As a result, the supply of essential raw materials, such as steel and aluminum, was affected, causing delays in production and delivery.
Decreased Demand:
The need for rolling stock has decreased as a result of the travel restrictions and lockdowns that numerous countries have put in place as a result of the pandemic. Several companies have postponed capital investments due to the pandemic’s effects on the economy. Rolling stock manufacturers have experienced a drop in orders and profits as a result.
Regional Analysis
Asia Pacific accounted for the Largest Revenue Share in Podcasting Market in 2022
In 2022, Asia Pacific will dominate the rolling stock market with the largest revenue share of 43%. The region is adopting passenger trains for commuting due to the growing population. Additionally, increased government investment in rail infrastructure for the transportation of products is credited with the region’s growing trade.
To promote the use of SiC in rail drive systems, for instance, Siemens Mobility teamed up with the producer of electronic and electrical components Mitsubishi Electric Corporation in May 2022. Siemens provides rail platforms, the most recent of which is the battery-operated Mireo Plus B. Together, the businesses will create Mitsubishi’s SiC power modules for those platforms.
Over the forecast period, MEA regional markets are anticipated to have the highest CAGR of 7.1%. The rise of the Middle Eastern and African rolling stock industry is being driven by the growing need to build a reliable rail network for the transportation goods of commuters.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Major players are globally present, which allows for partnerships between private and public entities to create an efficient and effective railway system. These companies’ technologies are helping to improve the reliability and safety of travel around the world. The growing demand for rail transport in countries like China, India, and Japan as well as the significant investments made in railway infrastructure.
Market Key Players
- CRRC Corporation Limited
- Trinity Rail
- Alstom Transport
- GE Transportation
- Siemens Mobility
- The Greenbrier Co.
- Hyundai Rotem
- Stadler Rail AG
- Hitachi Rail System
- Other Market Players
Recent Developments
- In partnership with Deutsche Bahn, Alstom SA developed a battery train and began a passenger operation trial in Germany in January 2022.
- A supply agreement for 70-passenger electric trains was signed by Transmashholding and the transport authorities of Argentina in January 2022. The agreement also covers the maintenance of the trains.
- A new firm with a sizable presence in the rolling stock market will be developed as a result of the merger of Siemens Mobility and Alstom’s rail divisions, which was announced in January 2021.
- The Indian Railways introduced a new Vistadome carriage service in its fast trains in June 2021, providing panoramic views of the beautiful surroundings along the route.
Report Scope
Report Features Description Market Value (2022) USD 56.4 Bn Forecast Revenue (2032) USD 89.9 Bn CAGR (2023-2032) 4.9 % Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Product (Locomotive, Rapid Transit Vehicle, Coaches, Wagons, and Other Products), By Type (Diesel and Electric), By Train Type, (Rail Freight and Rail Passenger) By Locomotive Technology (Conventional Locomotive, Turbocharged Locomotive, and Maglev) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape CRRC Corporation Limited, Trinity Rail, Alstom Transport, GE Transportation, Siemens Mobility, The Greenbrier Co., Hyundai Rotem, Stadler Rail AG, Hitachi Rail System, and Other Market Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What factors contribute to the expansion of the rolling stock market?Increased urbanization, traffic congestion, demand for comfortable travel, and a preference for shorter journeys contribute to the expansion of the rolling stock market.
What are the driving factors for the demand in the rolling stock market?The increasing demand for efficient and reliable transportation, rapid urbanization, and government investments in rail infrastructure are driving factors for the demand in the rolling stock market.
What are the growth opportunities in the rolling stock market?Growth opportunities include increasing demand for urban transit systems, emerging markets investing in rail infrastructure, and the expansion of high-speed rail networks.
Which companies are key players in the rolling stock market?Key players in the rolling stock market include CRRC Corporation Limited, Trinity Rail, Alstom Transport, GE Transportation, Siemens Mobility, The Greenbrier Co., Hyundai Rotem, Stadler Rail AG, Hitachi Rail System, and other market players.
What is the importance of rail transport in countries like China, India, and Japan?Countries like China, India, and Japan have a growing demand for rail transport, and significant investments are being made in railway infrastructure to meet this demand.
What are the different products in the rolling stock market?The rolling stock market includes products such as locomotives, rapid transit vehicles, coaches, wagons, and other related products.
What are the types of rolling stock in the market?The types of rolling stock in the market include diesel and electric trains.
What are the train types in the rolling stock market?The train types in the rolling stock market are rail freight and rail passenger trains.
- Locomotive
- CRRC
- Bombardier, Inc. Company Profile
- Alstom
- Siemens Aktiengesellschaft Company Profile
- GE Transportation
- Hyundai Rotem
- Transmashholding
- Stadler Rail AG
- Hitachi Ltd. Company Profile
- Kawasaki Heavy Industries, Ltd. Company Profile
- CAF
- EMD (Caterpillar)
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