The global rolling stock market share, 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. Rolling stock manufacturers are investing in R&D to develop emission-free trains which include battery-electric propulsion systems, and hybrid configurations that combine multiple energy sources. Additionally, Governments of different countries are making huge investments in developing fuel-cell train technologies. These investments are driving the demand for rolling stock during the forecast period.
The EMUs segment is estimated to hold the largest market share in the rapid transit segment during the forecast period. Increasing demand for high-speed rail, urbanization, and investments for the development of urban transit systems by governments are key factors driving the market rapid transit systems globally. Various governments have announced investments in rail infrastructure. In July 2024 Stadler Polska won the contract for the supply of 35 EMUs for Bulgaria state owned operator BDZ Passenger Transport. BGN 642.5 million (USD 349.5 million) is the proposed price with delivery being scheduled within 28 months (more than 2 years). Due to such investments, the demand for EMUs will increase during the forecast period.
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The locomotives segment holds a large market share of the rolling stock market in terms of value within the passenger transportation segment, as they constitute a very critical component of any train, are expensive as compared to other rail components, have a long service life that requires high investment in advanced technology and servicing, and form the basis for efficiency, speed, and reliability in the passenger rail sector. Added to this is the modernization in design and popularity of eco-friendly and high-speed locomotives that significantly raise the market value generated from this segment. In May 2024, The first batch of new generation hybrid locomotives from CRRC has been put into operation in China. Ten six-axle FXN3B locomotives have started shunting operations at two stations in Beijing, showing considerable technological advancement in the country’s railway industry. Such development that will drive the segment of locomotives during the forecast period.
By Product type, Locomotive segment will grow at significant rate during the forecast period. A need for locomotives is inextricably linked with the rise in economic progress, as it raises both goods and transportation requirements to move these goods. Economic growth quite frequently causes an increased demand for locomotives. Railway infrastructure construction, including new rail or extension to already running infrastructure, creates the need for locomotives in order to transport freight and passengers across the extended rail system. It can be affected by regulations, tax breaks, and other government support measures in the locomotive market. In January 2024, ROMANIA’s Railway Reform Authority (ARF) has confirmed Alstom as the winner of a tender to supply 16 four-axle 25kV ac electric locomotives. Such development will further boost the locomotive market in the forecast period.
The Middle East region is making considerable investments in the infrastructure-building process for rolling stock. The region is making one of large investments in the infrastructure development of rolling stock. In addition, the UAE and Saudi Arabia are planning to attain net-zero carbon emissions by 2050 and are intensifying efforts to improve their logistics sectors. Further, Etihad Rail will complete a 1,200 km long railway project by the year 2050 to contribute to reducing carbon emissions by 70%. In April 2024, the Saudi Railway Company expands freight service, which helps to move goods around the country. These strategic rail links connect Saudi Arabia with its neighbors and further link to boost its trade capabilities to look forward to better economic growth. Such development will boost the market growth in the forecast period.
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