Surge in allocation of the budget for development of railways, increase in demand for safe, secure, & efficient transport, and growth in usage of public transport services for minimizing traffic congestions drive the growth of the global rolling stock market. However, high capital investment and refurbishment of existing stock hinder the market growth. On the other hand, enhancement in railway infrastructure, specifically in developing countries and rise in industrial & mining activity create new opportunities in the industry.
The global rolling stock market was valued at $51.31 billion in 2021 and is projected to reach $73. 27 billion by 2031, registering a CAGR of 3.7% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Segment Review:
Based on type, the freight wagons segment held the highest market share in terms of revenue in the global rolling stock market in 2018, contributing nearly half of the total share, and is expected to maintain its lead position during the forecast period. This is due to different commercial advantages including rise in reliability in freight transportation, cost-effectiveness, and improved speed. On the other hand, the metros segment is expected to register the fastest growth rate with a CAGR of 5.2% from 2019 to 2026.
Based on end use, the cargo train segment accounted for around three-fifths of the total market share of the global rolling stock market in 2018, and is expected to contribute its highest share during the forecast period. This is due to surge in reliability in freight transportation, enhanced speed, and cost-effectiveness. However, the passenger transit segment would grow at the largest rate with a CAGR of 3.5% from 2019 to 2026, owing to high budget allocation in the most of the countries to improve automation in the railway sector.
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Regional Insights:
Based on region, Asia-Pacific is expected to grow at the fastest rate with a CAGR of 4.4% from 2019 to 2026, owing to commitment of developing countries such as China, Japan, India, and others to continuously improve their rail infrastructure. North America would grow at a CAGR of 3.0% during the forecast period. Europe accounted for the major market share, contributing to nearly one-third of the total share of the global rolling stock market in 2018, and will maintain its pole position during the forecast period. This is attributed to development of fully automated trains and continuous improvements to meet the current standards.
Key Industry Players:
The key players analzyed on the global rolling stock market report include Alstom, Construcciones Y Auxiliar De Ferrocarriles, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Hyundai Corporation, IHI Corporation, Kawasaki Heavy Industries, Ltd., MAPNA Group, Nippon Sharyo, Ltd., PESA Group, PPF Group N.V., Progress Rail (subsidiary of Caterpillar), Siemens, Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, The Greenbrier Companies, Inc., The Kinki Sharyo Co., Ltd., Trinity Industries, Inc., and Wabtec Corporation.
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Factors such as increase in allocation of the budget for development of railways, rise in demand for secure, safer, & efficient transport, and increase in use of public transport services as a solution to minimize traffic congestions drive the growth of the rolling stock market. However, high capital requirement and refurbishment of existing rolling stock are anticipated to hamper the growth of the rolling stock market. Further, increase in development & testing of autonomous train, improvement in railway infrastructure, particularly in developing countries, and rise in industrial & mining activity are expected to create numerous opportunities for rolling stock market expansion.
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