by The rolling stock market comprises products such as locomotives, rapid transit vehicles, wagons, and coaches that are used for passenger and freight transportation through rail networks. Rolling stock plays a vital role in public transportation as it ensures safe, reliable, and efficient movement of people and goods. Some of the key advantages of rolling stock include reduced road congestion, lower emissions, higher operational efficiency, and lower transportation costs. The growing demand for public transit solutions to tackle increasing traffic congestion and stringent environmental norms are fueling the demand for modernized rolling stocks across the globe.
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 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 growing investments by governments around the world in development of public transit infrastructure coupled with increasing urbanization are fueling the demand for rolling stock. Further, the ever-increasing demand for cost-effective and high-capacity transit solutions is propelling the orders for metro and mainline rail coaches from transport authorities.
The rolling stock manufacturers are also focusing on expanding their presence in high growth emerging economies through collaborations with local players. For instance, CRRC formed a joint venture with Afrail Express to manufacture metro coaches in Egypt. Similarly, Bombardier Transportation partnered with CNR Dalian to localize its rolling stock portfolio in China.
Market Key Trends
Autonomous rail operations are one of the key Rolling Stock Market trends gaining traction. Technologies like predictive maintenance are also becoming increasingly important in this sector Technologies like predictive maintenance, collision avoidance systems, and autonomous train controls are being increasingly adopted to improve the safety, efficiency and reduce operational costs of rail networks. For instance, Alstom has developed autonomous metros and regional trains that utilize technologies like computer vision, IoT and AI for driverless operations. Most industry experts forecast that autonomous traction will become mainstream for metros and high-speed rail corridors by 2031. This is expected to significantly change the configuration and design of future rolling stock models.
Porter’s Analysis
Threat of new entrants: Entering the rolling stock market requires high initial investments and established supply chains which deters new companies. Bargaining power of buyers: Large railway operators have significant bargaining power to negotiate prices and terms. Bargaining power of suppliers: A small number of supply chain players control important components increasing their bargaining power. Threat of new substitutes: Technological advances in road transportation pose a potential threat. Competitive rivalry: Intense competition among established companies to gain contracts and market share.
Geographical regions of market concentration
Europe accounts for the largest share of the global rolling stock market in terms of value, led by countries like Germany, the UK, France, and Italy. This observation is part of the Rolling Stock Market Regional Analysis This is attributed to developed railway infrastructure and investments in modernization of fleets.
Fastest growing region
Asia Pacific region is poised to grow at the fastest CAGR during the forecast period, driven by rail infrastructure development programs underway in major countries like China and India. Government initiatives to expand metro rail networks in major cities supports the growth of this regional market.
*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,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
