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.
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.
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Key Takeaways from the Railway Rolling Stock Market Report:
- 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.
Competitive Landscape:
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.
Leading 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
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Recent Developments:
- 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.
Railway Rolling Stock Market Segmentation:
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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