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Growing Demand for Hassle-Free Travel Boosts the Rolling Stock Market GloballyRolling Stock Market Overview:
Rolling Stock Market is set to project a CAGR of 4.98% over the forecast period. By 2025, the market is anticipated to churn out an estimated value of USD 82,684 million by 2025.
The requirement for rolling stock has been on a consistent rise over the last few years, and the trend will last throughout the mentioned forecast period. High-speed railway projects coupled with escalating demand for energy efficient transportation services and approval of new railway lines are the significant factors that boost the market. Additionally, steps taken by the government to endorse public commute as a means of eliminating pollution and traffic congestion is also reinforcing the worldwide rolling stock market.
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Key Drivers:
The growing need for hassle-free travel experiences with minimal chances of breakdowns and accidents has shifted consumer preferences from conventional transportation to advanced means of travel. Besides, the fastest delivery modes for goods has always been a dominant trend globally, thanks to the rapid growth of the retail and logistics sector. Furthermore, the global rolling stock market ensures cost-effective and reliable communications. These factors collectively accelerate the growth of the worldwide rolling stock market.
Segmental Analysis:
The global rolling stock market is segmented as per train type, product type, and type.
By train type, the global rolling stock market is segmented into passenger train and rail freight. During 2018, the rail freight market had a market estimate of USD 31,582.6 million along with a market share of 53.27%. By 2025, the value is predicted to reach USD 43,454.1 million. The segment is set to witness the fastest CAGR of 4.77 % over the forecast period.
By product type, the worldwide rolling stock market is segmented according to wagon, locomotive and rapid transit vehicle. 2018 observed 51.94% market share in the wagon segment with a market value of USD 31,800.5 million. This segment projects a growth rate of 4.83% CAGR over the forecast period. The value is set to reach USD 42,529.8 million by 2025.
By type, the global rolling stock market is segmented into electric and diesel. The diesel segment is set to lead the market, attributing to the increasing need for high-torque engines in rail freight. In 2018, the diesel segment recorded a market share of 57.21% coupled with a market value of USD 33,915.4 million. It is anticipated to display a CAGR of 3.29% over the forecast period. The electric segment is estimated to record a higher CAGR of 6.98% and the market is valued at USD 25,371.6 million.
Regional Analysis
By region, the worldwide rolling stock market is segmented into Europe, Asia-Pacific, North America, and the rest of the world. Europe is expected to dominate the rolling stock market over the forecast period owing to the new emission standards exercised by the government. Moreover, the European Union is putting efforts to cut emission of CO2. The government’s endeavors to eliminate gas emission plays a crucial role in boosting the market demand for electric mobility, during the forecast period.
Asia-Pacific sets one of the biggest markets for subway, metro rail, light rail projects and rapid transit. City governments and transit agencies in the region have plans to undertake almost 250 urban rail ventures. Consequently, hi-tech rolling stock is set to be implemented as part of these projects.
South America is projected to experience notable growth during the forecast period on account of the growing incorporation of rolling stock in the mining and oil and gas industries.
Key Players:
The global rolling stock market is ruled by key players such as Alstom, Bombardier, GE Transportation, Construcciones y Auxiliar de Ferrocarriles, Hitachi, Transmashholding, Hyundai Rotem Company, Kawasaki Heavy Industries Rolling Stock Company, CRRC Corporation Limited, Siemens, Stadler Rail AG, Electro-Motive Diesel (EMD), and S.A (CAF).
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Market Dynamics:
5.1 Introduction 26
5.2 Drivers 27
5.2.1 Demand For Energy-Efficient Transport Systems 27
5.2.2 Increasing Use Of Rail Lines For Public Transport 28
5.2.3 Drivers Impact Analysis 28
5.3 Restraints 29
5.3.1 High Capital Investment 29
5.3.2 Restraints Impact Analysis 29
5.4 Opportunities 30
5.4.1 Increase In Industrial And Mining Activity 30
Market Factor Analysis:
6.1 Porter’s Five Forces Model 31
6.1.1 Threat Of New Entrants 31
6.1.2 Bargaining Power Of Suppliers 32
6.1.3 Bargaining Power Of Buyers 32
6.1.4 Threat Of Substitutes 32
6.1.5 Rivalry 32
6.2 Supply Chain Analysis 33
6.2.1 Design And Development 33
6.2.2 Raw Material/Component Suppliers 33
6.2.3 Manufacturing 34
6.2.4 Supply And Distribution 34
6.2.5 End Users 34
6.3 Technology Trends 35
6.3.1 Digitalization In Railways 35
6.3.2 Battery-Powered Trains 35
6.4 Scope Of Stainless Steel In Rolling Stock Industry 36
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Contact Info:
Name: Akash Anand
Email: Send Email
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/rolling-stock-market-7884
Release ID: 88898327
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