The global rolling stock market is set to gain impetus from the rising investment by the government and regulatory bodies in the enhancement of the railway infrastructure, especially in the developing countries. This information is provided by Fortune Business Insights™ in a recent report, titled, “Rolling Stock Market Size, Share & Industry Analysis, By Product Type (Locomotive, Rapid Transit Vehicle, Wagons), By Application Type (Passenger Rail, Freight Rail), and Regional Forecast, 2020-2027.” The report further states that the rolling stock market size was USD 40.71 billion in 2019 and is projected to reach USD 52.92 billion by 2027, thereby exhibiting a CAGR of 10.4% during the forecast period.
The outbreak of COVID-19 pandemic has proven to be extremely distressful for a wide range of industries. It has already impacted approximately trillions of dollars of revenues in the market. However, we believe that this phase will soon pass with the cooperation of multiple organizations and government agencies. We will provide you with very deep insights on the decline and growth occurring in each industry because of the coronavirus infection. At the same time, we will also deliver highly accurate reports consisting of trends, drivers, hindrances, and opportunities in the market.
Fortune Business Insights™ presents a list of all the rolling stock manufacturing enterprises operating in the market.
They are as follows:
CRRC Corporation Limited
Hyundai Rotem Company
Hitachi Railway Systems
Trinity Industries, Inc.
Stadler Rail AG
This Report Answers the Following Questions:
What are the present, upcoming, and historical sizes of the market?
Which segment would lead the market by generating the highest share?
Which strategies are being adopted by the industry giants to propel sale of rolling stock?
How are the governments of several countries emphasizing on the usage of rapid transit networks?
Drivers & Restraints-
Rising Sale of New Vehicles to Accelerate Growth
The conventional rolling stock original equipment manufacturers (OEMs) are inclining towards advanced big data analytics, digital solutions, and remote monitoring to innovate their present product offerings and thereby deliver scalable and targeted solutions to the consumers. They have begun to take over a large number of tasks in the service business from rail operating companies and rolling stock owners, owing to the rising adoption of big data analytics.
Besides, the rising sale of new vehicles across the globe would help in generating a great value from the service and maintenance sector throughout the vehicle’s entire life cycle. Also, the end users are nowadays moving towards the availability of assets to aid in contributing to the progress. However, as rolling stock refurbishment programs offer a great alternative to finish the overhaul of the pre-existing fleet, rail operators are not buying new vehicles. It may obstruct the rolling stock market growth in the coming years.
Rapid Transit Vehicle Segment to Lead Owing to Their High Efficiency
In terms of product type, the market is segregated into wagons, rapid transit vehicle (RTV), and locomotive. Amongst these, the RTV segment is expected to hold the highest rolling stock market share during the forthcoming years fuelled by their ability to offer comfortable high-speed operation.
They are also very efficient and reliable. RTV consumes very less amount of energy, unlike the road-based transportation systems. They often utilize electricity to operate. Apart from that, the emergence of magnetic levitation trains and advancement of automated trains would drive the growth of this segment.
Asia Pacific to Grow Rapidly Backed by Adoption of High-speed Train Networks in China
Geographically, Asia Pacific is anticipated to grow significantly backed by the major contributions of the developing countries, such as India and China. In China, the regulatory bodies are striving to broaden the country’s high-speed train network under the eight vertical and eight horizontal high-speed rail network programs. Such initiatives would help in surging the high-speed mileage up to 38,000 kilometres till the end of 2025. It would also enhance the existing railway infrastructure by permitting the purchase of several unit trains possessing the speeds of 350 km/h.
North America, on the other hand, is likely to grow steadily owing to the implementation of stringent rules and regulations by the governments to curb emission of carbon. The authorities are hence, focusing on the upgradation of the pre-existing assets. It is resulting in the high costs of locomotives and thereby causing medium adoption of rolling stock.
Key Players Aim to Receive New Orders for Gaining Competitive Edge
The reputed companies present in the market are mainly focusing on achieving new orders from the government agencies or other renowned enterprises for their in-house rolling stock and associated products. They are able to strengthen their positions and gain a competitive edge through this strategy. Below are a couple of the latest key industry developments:
January 2020: Bombardier Sifang Transportation bagged a new contract from China State Railway Group Co., Ltd. As per the contract, the company will have to provide the latter with 160 new Chinese standard high-speed train cars called CR400AF. It would aid China in upgrading its high-speed rail network.
May 2019: Rhein-Main-Verkehrsverbund (RMV), the German public transport network ordered 27 Coradia iLint hydrogen trains from Alstom. The trains are considered to be the world’s first passenger trains that are powered by hydrogen fuel cell. They offer sustainable and clean traction, as well as an emission-free solution.
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