Rolling Stock Market Overview
Rolling Stock Market is expected to gain an unprecedented value of USD 82,684 Million by 2025 with a CAGR of 4.98%during the forecast period (2019–2025).
The report covers segmentation and the market dynamics for a better glimpse of the market in the coming years. Rolling stock facilitates easy and efficient transportation with several benefits including cost-effectiveness, reliability, and comfort. It usually includes both powered and unpowered vehicles, such as locomotives, railroad cars, coaches, and wagons. Rolling stock has a huge effect on the service and operational efficiency of the rail system, as its service level is directly proportional to the safety and comfort of the passengers.
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Segmental Analysis
The global rolling stock market is segmented based on type, product type, and train type.
On the basis of type, the global rolling stock market is divided into into diesel and electric. The diesel segment is expected to dominate the market, owing to the growing requirement of high-torque engines in rail freight.
In terms of value the diesel segment accounted for the larger market share of 57.21% in 2018, with a market value of USD 33,915.4 Million. It is expected to register a CAGR of 3.29% during the forecast period. The electric segment was valued at USD 25,371.6 Million; it is projected to register the higher CAGR of 6.98%.
On the basis of product type, the global rolling stock market is segmented into wagon, rapid transit vehicle, and locomotive. In 2018, the wagon segment held the largest market share of 51.94% in 2018, with a market value of USD 31,800.5 Million. This value is projected to reach USD 42,529.8 Million by 2025. This segment is expected to grow with the fastest CAGR of 4.83% during the forecast period.
On the basis of train type, the global rolling stock market is divided into rail freight and passenger train. In 2018, the rail freight segment held the larger market share of 53.27% in 2018, with a market value of USD 31,582.6 Million. This value can rise to USD 43,454.1 Million by 2025. This segment is expected to grow with the fastest CAGR of 4.77 % during the forecast period.
Competitive Analysis
Some of the prominent players operating in the global rolling stock market report are Bombardier, Alstom, Hitachi, Ltd, GE Transportation, Hyundai Rotem Company, Transmashholding and Stadler Rail AG, Kawasaki Heavy Industries Rolling Stock Company, Construccionesy Auxiliar de Ferrocarriles, S.A (CAF) and Electro-Motive Diesel (EMD), Siemens and CRRC Corporation Limited.
Bombardier is concentrating on successfully executing its key initiatives, which includes effectively utilizing its distribution, technology, innovation, and brand capabilities to gain a larger market share in rolling stock market. It has a strong and well positioned franchise in the market. The company is heavily investing in the R&D for its transportation segment to develop advanced solutions for rolling stock and signalling and services solutions. Moreover, it primarily focuses on product development by recognizing the long-term nature of product development activities. Furthermore, the company is rapidly strengthening its global footprints by means of expanding its manufacturing sites and frequent mergers and acquisitions.
Hitachi Ltd focuses on catering to the demand in emerging markets for construction machinery, social infrastructure & industrial systems, high functional materials & components, automotive systems, information and telecommunication systems, and smart life & eco-friendly systems for the establishment of infrastructure and development of resources. It strategizes to downsize its non-profitable businesses to maintain profitability and revise its business portfolio. Moreover, the company considers setting up a revised internal structure to facilitate the supply of solutions that are developed for both, the domestic and global market.
Regional Analysis
On the basis of region, the global market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe is anticipated to lead the rolling stock market during the forecast period, followed by Asia-Pacific. Europe is expected to witness significant growth in the rolling stock market, owing to the new emission standards regulated by the government. Additionally, the EU is taking efforts to cut average emissions of CO2 in Europe from the 2015 goal of 130 grams (4.6 ounces) of CO2 per kilometer to 95 grams per kilometer by 2021. The constant efforts taken by the government to reduce the gas emission is projected to fuel the market demand for electric mobility, over the forecast period.
The global rolling stock market is expected to reach USD 82,684.18 Million with a CAGR of over 4.98% by the end of the forecast period.
Taste the market data and market information presented through more than 89 market data tables and 51 figures spread over 132 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "Global Rolling stock Market Research Report- Forecast to 2025."
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