Rolling Stock Market Size, Share & Segmentation By Product Type, By Application Type, By Locomotive Technology, By Regions And Global Market Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, March 8, 2024 /EINPresswire.com/ -- According to the SNS Insider report, the Rolling Stock Market, valued at USD 53.87 billion in 2022, is anticipated to experience robust growth, reaching USD 74.86 billion by 2030. With a projected CAGR of 4.2% over the forecast period from 2023 to 2030, the market reflects a global commitment to enhancing transportation through rolling stock innovations.

The increasing awareness of the limitations and environmental impact of road transportation is leading to a shift towards rail transport. Rolling stock offers a sustainable and economical alternative to road transport, especially for the bulk movement of goods. Governments and businesses are recognizing the advantages of rail transport, contributing to the growing demand for rolling stock vehicles.

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Market Report Scope

The rolling stock market's growth is fueled by substantial investments in railway infrastructure and the adoption of cutting-edge digital solutions. Rolling stock vehicles, including locomotives, freight, wagons, and rapid transit vehicles, play a pivotal role in delivering reliable, comfortable, and cost-effective transportation. Governments and private entities are aligning their efforts to deploy an extensive fleet of rolling stock vehicles to enhance freight transport and passenger mobility. The Indian railways, contributing approximately 27% to India's freight transport, aim to increase this share to nearly 40-45% in the coming years. Collaborations and partnerships with major rolling stock industry players, coupled with strategic initiatives, underscore the government's commitment to achieving this ambitious target.

Increasing investments in railway infrastructure globally have a significant impact on the rolling stock market. The modernization of rolling stock involves upgrading locomotives, enhancing braking systems, improving passenger comfort, and introducing environmentally friendly options like electric and alternative fuel-powered trains. These investments also contribute to the expansion of railway networks, necessitating the purchase of new locomotives, coaches, and wagons.

Technological advancements have brought energy-efficient rolling stock to the forefront. Modern electric locomotives utilize regenerative braking, capturing lost energy and storing it for later use, reducing overall energy consumption. Innovations like computer vision and artificial intelligence enhance rail transportation safety by detecting obstacles, monitoring performance, and preventing collisions. Positive Train Control (PTC) technology, using GPS and wireless communication, further contributes to automatic accident prevention.

Market Analysis

The application of big data analytics is revolutionizing the rolling stock industry, offering an improved travel experience, onboard entertainment, smart tickets, and door-to-door services. Leveraging big data from passengers' smart devices, transportation players aim to enhance economic models and service quality. Real-time prediction algorithms, scalable data structures, and big data communications are key components of this transformative approach.

Big data analytics aids in addressing organizational, technological, and operational challenges in railway transportation, providing insights into Traffic Management System (TMS) decision-making, maintenance, and energy resources. The Central Organization for Modernization of Workshops (COFMOW), Indian Railways, awarded a contract to Wabtec Corporation in 2022 for the online monitoring of rolling stock (OMRS) project, facilitating quicker turnaround and improved safety.

Key Players

Hyundai Corporation, IHI Corporation, Construcciones Y Auxiliar De Ferrocarriles, Kawasaki Heavy Industries Ltd., Alstom, Bombardier Transportation, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Pesa Bydgoszcz SA, PPF Group N.V., Siemens AG, Nippon Sharyo, Ltd., Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, Inc., The Kinki Sharyo Co., Ltd., Transmashholding, Trinity Industries, The Greenbrier Companies, and Wabtec Corporation are some of the affluent competitors with significant market share.

Segmentation Analysis

• In terms of product type, locomotives, coaches, rapid transit, wagons, and other rolling stock components contribute to the market's growth. The demand for freight transportation, cost-effectiveness, and low emissions continue to strengthen the worldwide freight transportation market. Freight wagons, conveying bulk materials, intermodal containers, and specialized freight, are custom-designed for various cargo needs.
• By application type, passenger applications and freight applications shape the rolling stock market. The growing demand for efficient industrial and commercial commodity transportation propels the industry for freight transportation. Rolling stock emerges as a preferred mode due to its efficiency and cost-effectiveness.
• The locomotive technology segment, including conventional locomotives, maglev, and turbocharged locomotives, showcases the global trend of rail line electrification and increased demand for electric locomotives amid urbanization and public transportation development.

Growth Factors

• A primary growth catalyst for the rolling stock market is the increased focus on infrastructure development, especially in the railway sector. Governments worldwide are allocating substantial budgets to enhance transportation networks, leading to the deployment of advanced rolling stock vehicles. Investments in railway infrastructure encompass track upgrades, signaling systems, and the expansion of railway networks, all of which necessitate the acquisition of new locomotives, coaches, and wagons.
• The rapid pace of urbanization and population growth globally is driving the demand for efficient and sustainable transportation solutions. As urban areas expand, the need for reliable and cost-effective modes of mass transit becomes imperative. Rolling stock, with its ability to transport large numbers of passengers and goods, aligns with the requirements of densely populated urban regions. This trend is particularly evident in emerging economies where urbanization is accompanied by a surge in transportation needs.

Key Regional Development

Asia-Pacific is predicted to dominate the rolling stock market, reflecting the region's significant demand. European government funding further fuels market growth, while accelerated development is observed in the Middle East and parts of Africa. North America, South America, Oceania, and Africa showcase the market's evolution, highlighting varying degrees of development, demand, and consumption across these regions.

Oceania, with the largest market share in terms of volume, experiences increased demand for rolling stocks driven by urbanization, rising metro rail network needs, and dedicated railway freight routes. Enhanced production capacity, domestic demand, and strategic expansions by rolling stock manufacturers further solidify Oceania's dominance in the global market.

Key Takeaways

• Increased investments in railway infrastructure and digital transformation drive the rolling stock market's global ascent.
• Technological advancements lead to energy-efficient rolling stock, contributing to sustainability and reduced overall energy consumption.
• Big data analytics revolutionizes the travel experience, enhancing economic models and service quality in urban rail networks.

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Recent Developments

In April 2023: Siemens Mobility expanded its manufacturing facility in Munich-Allach to meet the growing demand for locomotives and services.
In March 2023: Alstom SA inaugurated a new production site in Valmadrera, Italy, dedicated to railway electrification.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Rolling Stock Market Segmentation, by Product type
8.1 Locomotive
8.2 Coaches
8.3 Rapid Transit
8.4 Wagons
8.5 Others

9. Global Rolling Stock Market Segmentation, by Application type
9.1 Passenger Application
9.2 Freight Application

10. Global Rolling Stock Market Segmentation, by Locomotive technology
10.1 Conventional Locomotive
10.2 Maglev
10.3 Turbocharged Locomotive

11. Regional Analysis

Continued…!

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