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The Rolling Stock Market size is forecast to increase by USD 11.82 billion at a CAGR of 3.98% between 2023 and 2028. The market's growth is propelled by various key factors, including the increasing boost of e-commerce in the rolling stock market, the initiation of new railway projects, and the heightened investment in urban rail transit. These elements underscore the evolving landscape of transportation infrastructure, with a particular focus on enhancing efficiency, capacity, and sustainability. As urbanization continues and transportation demands rise, investments in railway projects and urban transit systems are expected to drive further market expansion.
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The Europe rolling stock market is driven by fluctuating oil prices and a growing demand for environmentally friendly railroads. Manufacturers in this region are increasingly focusing on electricity-based propulsion systems, including hydrogen fuel and battery-operated rolling stock, to promote greener transportation. Challenges specific to the Europe rolling stock market include integrating alternative propulsion systems like electrification, while addressing carbon emissions and ensuring energy efficiency. Railway telematics and advancements in energy-efficient rolling stock are key trends shaping the Europe rolling stock market. Global railway networks and EV policy are also significant factors influencing innovation in this sector. Our researchers analyzed the data with 2023 as the base year, identifying key drivers, trends, and challenges. A holistic analysis of the Europe rolling stock market will help companies refine their marketing strategies to gain a competitive advantage in this evolving landscape.
Growing e-commerce booting is the key factor notably driving market growth. E-commerce has led to a surge in the movement of goods as more consumers shop online. This has resulted in higher demand for transportation services, including rail freight, to move products from distribution centers to consumers. Rail transportation can play a crucial role in efficiently moving goods between these distribution hubs. E-commerce logistics often involve multiple modes of transportation, including rail, trucking, and air freight. With innovations like environmentally friendly rolling stock powered by electricity, hydrogen fuel, or batteries, the industry aims to reduce carbon emissions. Mechanical brakes and energy-efficient systems from OEMs contribute to energy conservation. Railway telematics optimize operations, enhancing efficiency. Globally, initiatives such as India's electrification drive and Amtrak's sustainable services exemplify the shift towards eco-friendly rail travel, aligning with evolving EV policies.
Additionally, railroads are an integral part of intermodal transportation networks, facilitating the movement of goods over long distances. The rise of e-commerce has spurred innovation and competition in the transportation and logistics sectors. This can lead to the development of new rolling stock technologies and services to meet the evolving needs of e-commerce, which will have a positive impact on the growth of the market during the forecast period.
Electrification and hybrid solutions are one of the primary trends shaping market growth. Electrified railways, including high-speed and urban transit systems, are becoming more common. Hybrid locomotives that combine diesel and electric power are also gaining popularity. Electrified rail systems produce fewer greenhouse gas emissions compared with diesel-powered counterparts. This aligns with global efforts to reduce carbon footprints and combat climate change. As environmental concerns intensify, the demand for electric rolling stock increases. High-speed rail networks are typically electrified for efficiency and speed.
Moreover, the growth of high-speed rail in various regions, including Europe and Asia, is driving the demand for advanced electric rolling stock. As electrification continues to be a key focus in the rail industry, the demand for electric rolling stock is likely to remain strong. Manufacturers and rail operators are investing in research and development to create more efficient and environmentally friendly electric trains to meet this growing demand, which is expected to propel the growth of the market during the forecast period.
High capital costs in rolling stock manufacturing are a significant challenge hindering market growth. Manufacturing and procuring rolling stock, whether for passenger or freight services, involves substantial capital costs. This can be a barrier to entry for new players and a financial challenge. Rolling stock is highly specialized, with complex engineering and design requirements to meet safety, performance, and regulatory standards. Manufacturing and assembling these vehicles require advanced technology, precision engineering, and skilled labor, all of which contribute to high costs. Railway vehicles must meet stringent safety standards and regulations to ensure the well-being of passengers, crew, and the public.
Additionally, compliance with these standards often requires specialized materials and components that can be costly. High-quality materials and components, such as specialized metals, electronics, braking systems, and safety features (e.g., crashworthiness), contribute to the overall cost of rolling stock. High capital costs limit the expansion of passenger services, especially in regions with growing urbanization and traffic congestion. This will hinder the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ALSTOM SA - The company offers rolling stock products for the rail industry.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The rail freight segment is estimated to witness significant growth during the forecast period. The demand for rail freight rolling stock is closely tied to the overall economic activity. When the economy is growing, there tends to be more demand for transporting goods, leading to an increased demand for freight cars and locomotives. The types and quantities of commodities being transported have a significant impact on rolling stock demand.
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The rail freight segment was the largest and was valued at USD 30.26 billion in 2018. Also, advancements in rail freight technology, such as more efficient locomotives and specialized freight cars, can influence the demand as operators seek to improve their fleets and reduce operating costs. The rapid growth of e-commerce has boosted the need for efficient transportation and distribution networks. Rail freight can play a vital role in the logistics chain for moving goods between distribution centers and consumers. Thus, the robust growth of e-commerce will have a positive impact on the segment as well as the market during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is a dynamic region with diverse economies, transportation needs, and urbanization patterns, which contribute to the expansion of the market. Many countries in APAC are experiencing significant urbanization, resulting in increased demand for urban transit systems, including subways, light rail, and commuter trains. These systems often require the procurement of new rolling stock to accommodate growing populations.
In addition, the construction and operation of high-speed rail lines necessitate the production of specialized rolling stock. APAC's robust trade and logistics networks require efficient intermodal transportation solutions. Rail plays a crucial role in connecting ports, manufacturing hubs, and distribution centers. Advances in rolling stock technology, including digitalization, automation, and high-speed rail innovations, contribute to the demand for modernized and efficient rolling stock, which will boost the growth of the market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is witnessing significant growth driven by a rising demand for sustainable and energy-efficient railway transportation systems. Original Equipment Manufacturers (OEMs) are focusing on innovative solutions like electric-based rolling stock and mechanical brakes to enhance energy conservation and decarbonization efforts. As urban planners prioritize rapid transit systems and tramways for daily commuting, there's a surge in demand for affordable and eco-friendly rail vehicles. Investments in railway infrastructure, coupled with advanced digital solutions like Computer vision and Positive Train Control (PTC) technology, are reshaping the industry landscape. With the resumption of railway projects and refurbishment of aging fleets, the market is poised for robust growth.
Furthermore, key players like Amtrak and Indian Railways are driving innovation, while metro systems like Delhi Metro and Shanghai Metro continue to lead the way in eco-friendly transport. Additionally, the market is witnessing significant growth, driven by factors such as the rising demand for affordable transportation and the refurbishing of rolling stock to accommodate commuters. With concerns about global warming increasing, there's a shift towards diesel-based rolling stock and electric-based segments for eco-friendly rail travel. Investments in high-speed trains, metros, and trams, along with advancements in predictive maintenance and real-time passenger information systems, are reshaping the industry.
Additionally, rolling stock vehicles such as freights and wagons play a critical role in railway freight transport, supported by rapid transit vehicles, with initiatives like the Auto Train and Coast Starlight enhancing rail services facilities as highlighted in publications like Global Railway Review. Key players like Rolling stock OEMs and railroad companies are focusing on innovative solutions to meet the evolving needs of passenger rail operators and freight trains, ensuring efficient operations and comfortable accommodations for travelers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.98% |
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Market Growth 2024-2028 |
USD 11.82 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.12 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 50% |
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Key countries |
US, Canada, Mexico, China, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ALSTOM SA, Caterpillar Inc., Central Japan Railway Co., CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A., CRRC Corp. Ltd., Grupa Pesa, Hitachi Ltd., Hyundai Motor Co., IHI Aerospace Co. Ltd., Kawasaki Heavy Industries Ltd., MAPNA Group Co., PATENTES TALGO S.L.U., PPF Group, Siemens AG, Stadler Rail Ag, Tatravagonka a.s. Poprad, The Greenbrier Companies Inc., The Kinki Sharyo Co. Ltd., Trinity Industries Inc., and WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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