by The rolling stock market involves the manufacturing of trains, trams, metros and other rail vehicles and locomotives that operate on the tracks of a railway. Rolling stock plays a vital role in efficient transportation of passengers and goods over long distances. Rising population and rapid urbanization have increased the demand for public transportation, propelling the need for development of rail networks worldwide. Governments across regions are focusing on expanding and upgrading existing rail infrastructure which is driving the demand for rolling stock.
The Global rolling stock market is estimated to be valued at US$ 52.14 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the rolling stock market are Alstom Transport, Bombardier Transportation, Chittaranjan Locomotive Works, CRRC Corporation Limited, Construcciones Y Auxiliar DE Ferrocarriles S.A., GE Transportation, Hitachi Rail Systems, Hyundai Rotem, Kawasaki Heavy Industries Ltd., Siemens Mobility, Stadler Rail AG, The Greenbrier Co, Trinity Rail Group, LLC, TRANSMASHHOLDING, and Wabtec Corporation.
The Rolling Stock Market size is driven by key opportunities, including substantial government investments in developing metro networks in tier 1 and tier 2 cities, funding for high-speed rail projects, upgrading existing fleets, and a growing emphasis on eco-friendly trains.
The rolling stock market is expanding globally with Asia Pacific emerging as the largest and fastest growing regional market driven by China, India and other Southeast Asian countries. Growing foreign direct investments and manufacturing partnerships across Europe and North America are further expanding the global footprint of key rolling stock players.
Market Drivers
The primary driver for the rolling stock market is the increasing rail network infrastructure development worldwide. Governments are allocating large budgets for expansion and up-gradation of existing railway lines to decongest road traffic and provide sustainable transport solutions. For instance, China’s high speed rail network is the largest in the world presently covering 35,000 kilometers. Indian government’s ‘National Rail Plan for India – 2030’ envisions infrastructure investments of over $320 billion. Such large scale investments in rail infrastructure are increasing the demand for new rolling stock.
PEST Analysis
Political: The rolling stock market is influenced by government policies and regulations regarding transportation infrastructure development, public transport subsidies, and environmental protection norms.
Economic: Factors such as GDP growth, economic development plans, and investment in rail networks influence the demand for rolling stock. The rise in freight transportation further boosts the market.
Social: Urbanization and growing preference for public transport are positive drivers for this market. Additionally, initiatives for improving mobility and accessibility also support market growth.
Technological: Advanced technologies such as automatic train protection, regenerative braking systems, and improved engine efficiency help reduce operating costs and enhance performance. Developments in data analytics and IoT further optimize asset utilization.
Geographical Regions with High Market Concentration
The Rolling Stock Market Regional Analysis reveals that the rolling stock market witnesses high concentration in regions with well-established railway infrastructure and transport networks. Europe accounts for over 30% market share globally, led by countries such as Germany, the UK, and France.The region is an early adopter of modernized railway systems. China is another major market owing to large-scale investments in high-speed rails and freight transport expansion plans.
Fastest Growing Regional Market
The Asia Pacific region excluding China and Japan is poised to be the fastest growing regional market during the forecast period. This is attributed to rail infrastructure development projects underway in countries such as India, Indonesia, Thailand, and Vietnam. The governments are investing heavily to build new railway lines and upscale existing networks to boost regional connectivity and mobility. Several Chinese rolling stock manufacturers are also exploring opportunities in the expanding APAC markets.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
