The global rolling stock market is projected to grow from USD 54.6 billion in 2023 to USD 65.6 billion in 2028, with a compound annual growth rate (CAGR) of 3.8% during the forecast period. The market report provides comprehensive insights into the rolling stock market, including detailed market data tables, figures, and an in-depth table of contents. It covers various aspects such as component product type, locomotive technology, application, and regional analysis.
Several factors are expected to drive the growth of the rolling stock market. These include the adoption of emissions-free transportation, favorable government policies such as subsidies, and the increasing electrification of railways. Governments worldwide have taken up smart transportation initiatives, leveraging technologies like cloud, IoT, 5G, and AI, which have played a significant role in the growth of the smart railways ecosystem. Investments in improving rail infrastructure, urban and inter-urban segments, safety regulations, and smart city projects are expected to drive the demand for technologically advanced rolling stocks.
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The promotion of rapid transit systems to reduce traffic congestion in developed nations like Germany, France, and the UK, along with increased investments in metro development in countries like India, China, Egypt, Brazil, and Gulf countries due to urban population growth, will contribute to the demand for rolling stock.
Europe is anticipated to be the second-largest market for rolling stock, with Germany being a major hub for renowned original equipment manufacturers (OEMs) such as Alstom SA, Stadler, Talgo, Siemens AG, and Construcciones y Auxiliar de Ferrocarriles. The European rail supply industry is the largest globally, with advanced technologies incorporated into most European rails, including wireless connections, eco-friendly features, and comfort enhancements. While high-end technology adoption is higher in West European countries, there are opportunities for rolling stock OEMs to increase their presence in Eastern Europe. Projects like FP1-MOTIONAL, FP2-R2DATO, and FP3-IAM4RAIL are expected to fuel the growth of the European rolling stock market.
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In terms of locomotive types, the electric locomotive segment is estimated to dominate the global rolling stock market. The increasing electrification of railway tracks globally, driven by the goal of reducing vehicle emissions, is a key factor. Countries in Asia Oceania and Europe are investing significantly in track electrification. Government initiatives such as tax breaks and subsidies further promote the use of electric locomotives, which are more environmentally friendly than diesel locomotives. Key players in the global rolling stock market include CRRC Corporation Limited, Alstom SA, Siemens AG, Stadler Rail AG, and Wabtec Corporation. These companies offer a wide range of products, have global distribution networks, and invest in research and development to develop innovative solutions for the railway industry.
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