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(Transportation-News.com, January 24, 2019 ) According to the new market research report "Rolling Stock Market by Product Type (Locomotives, Rapid Transit (DMU, EMU, Light Rail, Metro) Wagons, Coaches), Locomotive Propulsion (Diesel and Electric), Application (Passenger & Freight), Components, Technology & Region - Global Trends and Forecast to 2025", published by MarketsandMarkets™, The rolling stock market, in terms of value, is projected to grow at a CAGR of 4.44% from 2018 to 2025. The market is estimated to be USD 54.43 billion in 2018 and is projected to reach 73.80 billion by 2025. The growth of this market is fueled by the infrastructural development in the region and approval of new rail lines. However, refurbishment of existing rolling stock and capital-intensive nature of rolling stock is inhibiting the growth of the rolling stock market.
Browse and in-depth TOC on “Rolling Stock Market"
98 - Tables
56 - Figures
189 - Pages
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“High-speed rail project to drive the Asia Oceania rolling stock market”
The Asia Oceania rolling stock market is expected to be the largest, by value, in 2018. This can be mainly attributed to the demand for high-speed rail projects and dedicated freight corridors via rail transport system in the region. The coach segment is estimated to be the largest market in 2018. The electric multiple unit markets is expected to be the second largest in the Asia Oceania region.
“Technological advancements are a key driver for the EMU market”
There has been a rapid increase in the number of technological advancements in the rolling stock market. The EMU segment is estimated to hold the largest market share, in terms of value, in 2018. This can be credited to the latest generation of EMUs, which are characterized by modular designs. Advanced electric multiple units is more efficient and favorable than a diesel multiple units. Such innovations would spur the growth of the rolling stock market.
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Increasing urbanization and adoption of rolling stock for freight transportation would drive the global rolling stock market demand to approximately USD 73.80 billion by 2025
Several countries of Europe, Asia Oceania, and the Middle East have introduced high-speed rail projects to encourage mass rapid transit. The rail authorities of these countries developed high-speed train projects just after its introduction in the rail industry. The development of rail infrastructure indirectly fosters the growth of this market. The acceptance of high-speed trains is anticipated to rise in the near future due to economic growth prospects created by the development of high-speed rails.
Many emerging countries, as well as developed countries, are focusing on expanding their rail network for a better standard of living and economic growth. Moreover, urban rail transit such as metro and trams have emerged as reliable modes of city transport. Many urban rail projects are currently in the pipeline and are due for completion in the coming years. Several major rail companies are working on the enhancement of the railway network across the globe.
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The rolling stock market comprises a network of players involved in the research and product development, raw material supply, component manufacturing, distribution and sale, and post-sales services. The key players considered in the analysis of the overhead catenary system market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), General Electric (US), Hyundai Rotem (South Korea), Kawasaki Heavy Industries (Japan), and Stadler (Switzerland).
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