The Rolling Stock market is expected to grow at a CAGR of 4.9% over the next five years.
Rolling Stock Market Overview
The rolling stock market size was valued at USD 41.10 in 2020 and is projected to reach USD 52.92 Billion by 2028, growing at a CAGR of 4.9% from 2021 to 2030. The rolling stock market has been experiencing a profitably good share in the global market that leads to a sustainable future. The unpowered and powered vehicles have been attaining high safety regarding infrastructure and reliability.
The major factors driving the Rolling Stock Market are the cost-efficient facilities provided by the industry and the market. The reliability of the facilitation and the transportation of the goods, along with convenient safety levels, has propelled the growing usage and consumption of the same by both consumers and retailers. The price put on by the passengers has risen extensively to manage a structural and management-based production. This makes the entire market run globally over the efficiency and productivity of the same. The forecasting rail transit visit has also ensured that amid the entire process of transport, the volume and structure of the products remain intact.
The impact of COVID-19 is observed differently in different markets. The outbreak of deadly virus forced the government around the world to impose nationwide lockdown which directly affected all kinds of markets. Only necessary services and workers were allowed. Even though transport and railroad services are important to maintain the flow around the world, the market was affected negatively. The one reason for the decrease in demand from the rolling stock market is the decreased budget allocated to railways by the government.
Major manufacturers of rolling stock markets such as Bombardier (US), announced the suspension of production due to a decrease in demand during the lockdown period. Many companies and major key players of the market are adapting to new strategies to cope up with the negative effect of the COVID-19 situation.
Value Chain Analysis:
Looking at the working of the rolling stock market, the market works on the budget given to it by the government, locals, and the profit it earns from the services. Currently, rolling stock is keeping a good eye on its rail lines as it is providing the maximum profit and is projected to expand further by 2025. The market is working on the expansion of the metro and electrical network. The services provided by rolling stock manufacturers to the world are the transportation of goods and passengers, connectivity, and services to commercial industries.
To understand the growth of a market and view the highest demand from a particular region, a regional analysis of that market is important. For, rolling stock market, Asia- Pacific region is expected to report the highest demand in rolling stocks. Further, Europe is projected to highlight sustainable rise as the European government has invested in the growth of the rolling stock market. Moreover, the Middle East and parts of Africa have shown a steep rise in the development of the rolling stock market by region. The market is divided into the top six regions that are North America, South America, Asia-Pacific, Europe, the Middle- East, and Africa. These different regions avail the highest development, demand, and consumption from the rolling stock market.
The major companies and key players of the market are expanding their company by acquiring small companies, collaborating with other potential companies, launching new and advanced rolling stocks, etc. New strategies are adopted by the market to stand out situations like a global pandemic. Some of the key players of the market are:
In July 2018,
Bombardier Transportation launched its Traxx 3 platform into the market with the Kassel Site location in Germany. This enabled various capacities to be activated like the Last Mile Function, and it further enabled the non-electrified sections to aim at efficient energy production.
In May 2019, the Coradia iLint hydrogen German Public transportation system introduced the globe’s first passenger train powered and trained by hydrogen fuel cells along with proper sustainability. As a result, this ensured a hustle-free consumption of the non-electrified tracks. This launch helped ensure no particular harm to the performance base of the transport network.
The rolling stock global market research report gives a detailed description of market growth, trends, development, and key players of the market. The report discussed market dynamics that included growth drivers, restraints, opportunities, and challenges that the market might be facing. Further, it also gives a segment analysis of the market which describes the market by segments. Regional analysis of the market is also mentioned in the report content to understand the leading region of the rolling stock market and the region with the highest growth.
The global market for rolling stock is projected to grow with a CAGR rate of 4.9% over the next 5 years and the market value of rolling stock is projected to increase by $ 52.92 Billion
|Market Size||2028 : USD 52.92 Billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Product Type, Train Type and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hitachi Ltd.,GE Transportation,Electro-Motive Diesel (EMD), Kawasaki Heavy Industries Rolling Stock Company, Construcciones Y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Bombardier, Alstom, Transmashholding Stadler Rail AG, Hyundai Rotem Company|
|Key Market Opportunities||Development in mining industries|
|Key Market Drivers||
The rolling stock market is projected to reach USD 52.92 Billion by 2028
Urbanization, increased standards, the demand for comfort, and other such factors have helped the expansion of the rolling stock market. Expansion of metro projects, electrical networks, increase in freight transportation, and others as such have highly contributed to the growth of the rolling stock market.
Bombardier, Alstom, Hitachi, Ltd, GE Transportation, Hyundai Rotem Company, Transmashholding and Stadler Rail AG, Kawasaki Heavy Industries Rolling Stock Company, Construccionesy Auxiliar de Ferrocarriles, S.A (CAF) and Electro-Motive Diesel (EMD), Siemens and CRRC Corporation Limited.
The highest heat growth in development is observed in the Middle- East- Africa region but the Asia-Pacific region is projected to be the global leader of the rolling stock market by 2028.