Rolling Stock Market Overview: 2023-28
Base Year: 2022
Historical Years: 2018-21
Forecast Years: 2023-28
The Rolling Stock Market is projected to grow at a CAGR of around 4.13% during the forecast period, i.e., 2023-28. The growth of the market is projected to be driven mainly by the expansion of railway routes worldwide, rapidly increasing urbanization, rising traffic congestion, and the mounting demand for comfortable & shorter journeys. In addition, the increasing electrification of railway networks, the replacement of old rolling stocks, and various ongoing & upcoming railway projects are also expected to boost the market in the coming years.
Markntel Advisor’s Rolling Stock Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Rolling Stock Market drivers, barriers, Rolling Stock Market Trends, and Key Players in Rolling Stock Market.
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Rolling Stock Market Dynamics: 2023-28
Government Efforts toward Integrating Rapid Transit Networks to Reduce Traffic Congestion - Growing disposable incomes of people are leading to the ever-increasing demand for personal mobility and, consequently, rapidly rising road traffic worldwide. Moreover, the insufficient road network infrastructure in urban areas is another aspect leading to increasing road congestion & travel time. As a result, governments & urban planners are actively working on merging rapid transit networks & tramways with the existing city infrastructure. Moreover, the mounting inclination of commuters toward cost-effective, reliable, fast, yet eco-friendly means of transportation has bolstered the popularity of high-speed train networks. Hence, countries like Germany, France, & the UK are promoting the use of rapid transit systems to reduce traffic congestion, while India, China, Egypt, Brazil, & the Gulf nations are massively investing in the development of metros. Hence, these aspects are projected to drive the Global Rolling Stock Market during 2023-28.
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Rolling Stock Market (2023-28): Segmentation Outlook
The market report has segmented the market into the following categories:
· By Product Type
o Locomotive
o Rapid Transit Vehicles
o Wagon
o Metros
o Trams
o Monorails
o Passenger Coaches
o Others (Hyperloop, Bullet Trains, etc.)
According to report, Of them all, RTVs (Rapid Transit Vehicles) are projected to acquire a prominent share of the Global Rolling Stock Market during 2023-28.
· By Propulsion
o Diesel
o Electric
· By End User
o Passenger Transit
o Cargo Train
According to report, Here, freight trains would remain the largest end-users in the market over the coming years.
· By Region
o North America
o South America
o Europe
o Middle East & Africa
o Asia-Pacific
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Top Companies Operating in the Rolling Stock Market:
- CAF (Construcciones Y Auxiliar De Ferrocarriles, S.A.)
- Hitachi, Ltd.
- Alstom
- CRRC Corporation Limited
- IHI Corporation
- Hyundai Corporation
- Kawasaki Heavy Industries, Ltd.
- Nippon Sharyo, Ltd.
- Mapna Group
- ŠKODA TRANSPORTATION a.s.
- Trinity Rail
- Siemens Mobility
- The Greenbrier Co.
- GE Transportation
- Wabtec Corporation
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