The global rolling stock market size, by value, is estimated to be USD 28.6 billion in 2024 and is projected to reach USD 40.1 billion by 2030, at a CAGR of 5.8% from 2024 to 2030.
Opportunities for market expansion are being presented by developments in hybrid trains. The market is still awaiting trains with hydrogen or battery drive technologies, which provide far more versatile and sustainable options than conventional diesel-powered trains. By enabling trains to operate on non-electrified rail network segments, these technologies lessen dependency on fossil fuels and carbon emissions. Alstom’s Coradia iLint is one example of a hydrogen-powered train that uses hydrogen fuel cells to produce energy, with water vapor as a byproduct. However, to enable cleaner operations, the battery train can be charged at stops or at the overhead wires. The market for hybrid trains is growing as a result of growing environmental consciousness and a need for effective and adaptable transportation options in various rail infrastructure contexts. For example, Germany began using battery-powered trains in April 2024. Four of the Siemens Mobility Mireo Plus B battery hybrid trains have been provided to run the service between Offenburg and Hornbergin and Bad Griesbach. Furthermore, the market’s expansion is being influenced by cutting-edge technologies like connected rail, intelligent rail systems, and big data.
“According to the forecast, the Rapid Transit segment is anticipated to be the largest.”
In the product type segment, the rapid transit segment has the biggest market share. elements like growing urbanization and the resulting demand for dependable, quick public transportation networks to serve dispersed metropolitan areas. Mass transit systems are becoming more and more necessary as urban populations grow in order to provide affordable and time-efficient travel options while also reducing environmental pollution and traffic congestion. The rapid transit segment’s expansion is also fueled by government backing and expenditures in infrastructure development, technological advancements in rail systems, and a growing emphasis on ecologically friendly and green transportation. The need for faster transit systems within metropolises has arisen as a result of the expansion of the current city transportation networks. The demand for automobiles is anticipated to be significantly higher in developing nations such as China, Brazil, and India as a result of the start of infrastructure initiatives than in Western European affluent nations. Second, integrating smart technologies like automation, real-time tracking, and sophisticated safety features makes rapid transit options more appealing and more likely to be adopted. For example, Keolis and RATP Cap Ile-de-France were given contracts by the Paris transport authority Ile-de-France-Mobilities in July 2024 to run the current tram-train services T12 and T13 in Paris, France, as well as the future Grand Paris Express metro Line 18. Therefore, during the forecast period, the demand for rolling stock will rise as a result of these new initiatives aiming at rail connection.
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“The application segment’s largest market share will be held by the passenger transportation segment.”
In the application segment, passenger segments have the largest market share. Europe, China, India, Japan, and other nations have important rolling stock markets for passenger transportation. The primary mode of passenger transportation in Japan is rolling stock. The main reason propelling the use of railroads for passenger transportation in Japan is the availability of strong infrastructure for both urban and intercity mass transit. The demand for passenger trains, particularly those in Japan, has increased globally. 18.6 million passengers were carried by Eurostar in 2023, a 22% increase over 2022 and a return to pre-pandemic passenger levels, according to a January 2024 study.
The main factor propelling the expansion of railroad passenger transportation is urbanization. By 2030, 60% of the world’s population is expected to live in cities, according to WHO estimates. Therefore, in the upcoming years, it is anticipated that growing urbanization would further stimulate the passenger transportation sector.
“During the forecast period, Europe is anticipated to be the second-largest market.”
By 2024, Europe is expected to have the second-largest value share of the rolling stock market. The world’s largest rail supply industry is located in Europe. High-tech amenities like eco-friendly cars, wireless data connections, wireless radio hookups, and amenities to improve comfort are installed in the majority of European trains. East European countries like Poland and the Czech Republic continue to adopt high-end technology at a somewhat slow pace as compared to Western European countries like the UK, Germany, France, and Spain. OEMs of rolling stocks try to take use of the Eastern European market’s potential for regional presence.
Additionally, EU Railways plans to build 31,000 km of high-speed rail by 2030. Additional initiatives like FP1MOTIONAL, FP2R2DATO, and FP3IAM4RAIL are also intended to boost the expansion of the rolling stock industry in Europe. By aiming for a single railway sector, the EU is also attempting to promote environmentally beneficial modes of transportation. With significant efforts from both public and private organizations, it has been working to bring the continent’s networks into harmony. Over the course of the forecast period, Germany is anticipated to dominate the European rolling stock industry. The nation is investing in suitable infrastructure and aggressively encouraging the usage of rapid transit systems to lower vehicle emissions.
Key Players
The major players in global rolling stock market include CRRC Corporation Limited (China), Siemens AG (Germany), Alstom SA (France), Stadler Rail AG (Switzerland), and Wabtec Corporation (US). These companies offer extensive products and solutions for the railway industry; have strong distribution networks at the global level and invest heavily in R&D to develop new products.
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