The Rolling Stock Market, in terms of value, is projected to grow at a CAGR of 4.44% from 2018 to 2025. The market was valued at USD 52.50 billion in 2017 and is projected to reach USD 73.80 billion by 2025.
The report analyzes all major players in the rolling stock market including CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), and General Electric Company (US).
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By product type, the rolling stock market for the locomotives segment is expected to grow at the highest growth rate during the forecast period
In this report, locomotives are further segmented into diesel, electric, and electro-diesel locomotives. Several governments are increasingly investing in the development of electric train lines. For instance, the Spanish government proposed a budget of approximately USD 5.43 billion for the development of rolling stock infrastructure in April 2018. An amount of USD 979.3 million would be used from the budget for the electrification of tracks between Salamanca and Fuentes de Oñoro, upgrading of the route between Huesca and Canfranc, and furnishing of the passing loop between Barcelona and Madrid. The increasing investments in the electrification of railway tracks will boost the demand for electric locomotives in the coming years.
By application, the freight application sector is expected to hold the largest market share during the forecast period
The global rolling stock market, by application, is projected to hold the largest market share during the forecast period. The rolling stock in North America is mainly used for freight transportation, especially in the US and Canada. Due to a large distance between the cities in the countries, the traveling time is high. Therefore, passenger transportation contributes a very small share of these countries’ rolling stock market. Rolling stock is the second largest mode of freight transportation in North America after trucks. China and Russia are also key markets for rolling stock freight transportation. On the other hand, passenger transportation accounts for the largest market share in countries such as India and Japan.
A turbocharged locomotive segment to hold the largest share in the rolling stock market, by locomotive technology
The turbocharged locomotive market is estimated to be the largest in the rolling stock market. The primary advantage of the turbocharged locomotive is that it gives more power with no increase in fuel costs. Major OEMs such as ABB have modernized turbochargers in locomotives to meet technical, environmental and cost requirements of the rolling stock market. In heavy hauling, more powerful units are being used to increase track capacities. This is increasing the demand for turbochargers and turbocharged locomotives.
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Asia Oceania: Largest market for rolling stock
The Asia Oceania rolling stock market is estimated to be the largest, in terms of value, in 2018. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transportation infrastructure is insufficient. The expansion of this network is expected to drive the demand for new vehicles.
The European rolling stock market is estimated to be the second-largest, by value, in 2018. The European Union represents the biggest absolute market for rail products and services, with the rolling stock segment representing the largest part of this market. The European region is segmented into Germany, France, the UK, and Italy. The North American rolling stock market is estimated to be the third-largest in 2018.
Critical questions the report answers: