The global railway rolling stock market demand is anticipated to flourish at an opulent CAGR of 4.1% throughout the forecast period. The market size is estimated to be around US$ 61,504.8 million for the current year 2023. By the end of the projection period, the total supply of these products would reach around US$ 91,921.3 million in the international market.
According to the historical analysis conducted by Future Market Insights, the global railway rolling stock market calculated a CAGR of 2.3% during the time span of 2018 to 2022. Furthermore, the overall valuation of the market reached US$ 58,800 million by the end of 2022.
Recent advancements within the railway sector such as the adoption of high-end railcars have shifted the market orientation significantly. Furthermore, prominent market players are focusing on the production and supply of specialized railway rolling stocks to get higher returns. In addition to that, the proliferation of online trade channels after the pandemic effect has also accelerated the global railway rolling stock market growth rate in present years.
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According to the earlier records of the railway rolling stock market survey report, the net worth of the global railway rolling stock market was estimated at around US$ 53,687.7 million in the year 2018. The market witnessed positive growth in the following years as well. Over the upcoming years, widespread adoption of metro and subway trains will take place globally. All the major cities will contribute greatly towards fueling the global railway rolling stock market growth. Likewise, the growing demand for high-speed trains around the world has forced many prominent players to change their business models.
Key Takeaways
- Recent movements have focused on reducing fossil fuel consumption and the introduction of modern energy sources. These technologically advanced sources have made a considerable impact on the market. As a result, many market players have introduced rolling stocks with hydrogen fuel battery facilities.
- Installation of solar panels on rooftops is expected to efficiently meet the energy requirements in rolling stock units and is going through a development stage. Furthermore, 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.
- The establishment of several other modes of transport like regional airways is expected to limit the overall market growth. Moreover, in the logistics sector as well, the growing use of transmission pipelines for the transport of raw materials has reduced the demand for railway rolling stocks.
- Increasing utilization of transmission pipelines in order to transport raw materials in the logistics sector has reduced the demand for railway rolling stocks. In addition to that, the deployment of regenerative braking technology among all rolling stocks has further narrowed down the competition in this market.
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Competitive Landscape
Market players with excessive capital and hands-on technology know how to outcompete their rivals. One of the leading factors that influence the studied market expansion is the encouragement of regional players by their respective governments.
Increasing focus on public transport systems is anticipated to provide immense opportunities for newly entering market players. Moreover, federal assistance in many emerging economies to strengthen the domestic railway asset supply has also motivated several industries to enter the market.
Governments all over the globe are spending excessively on infrastructure development for the overall growth of their economy. Furthermore, this trend has specifically intensified over recent years. This trend indirectly benefitted the transportation sector including railway rolling stock industries. Further emphasis upgradation of the existing railway sector is anticipated to allow businesses to research and adopt new business models.
Key Players Profiled in the Railway Rolling Stock Market Report
- 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
More Insights into the Railway Rolling Stock Market
According to the market analysis, the United States is expected to dominate the global railway rolling stock market due to the leading production and advancements taking place in the North American region. This country is also anticipated to remain the major region for the introduction of any type of advancement in the railway rolling stock industry.
The overall market size of the U.S. was predicted to generate a valuation of around US$ 12,818.5 million which translates to around 21.8% of the global market in the previous year. However, the US railway rolling stock business is projected to register a below-average CAGR rate over the forecast period. Owing to this reason, global key players working in the country are focusing more on the rapid expansion of their manufacturing units into the Asia Pacific and Latin American countries.
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Key Segments
By Type:
- Locomotive
- Diesel Locomotives (DMU)
- Electric Locomotives (EMU)
- Electro-diesel Locomotives
- Others
- Passenger Coaches
- Freight Wagon
- Trams or Light Rails
- Metro or Subways
- Monorail
- Others
By End User:
- Passenger Transit
- Cargo or Freight Transit
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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