Portland, OR, Oct. 20, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global rolling stock market was pegged at $55.68 billion in 2020, and is expected to reach $78.70 billion by 2030, growing at a CAGR of 3.5% from 2021 to 2030.
Rise in allocation of budget for development of railways, increase in use of public transport services as a solution to minimize traffic congestion, and surge in demand for secure, safer, and efficient transport system drive the growth of the global rolling stock market. However, high capital requirements and refurbishment of existing rolling stock hamper the market growth. On the contrary, rise in development & testing of autonomous trains, improvement in railway infrastructure in developing countries, and surge in industrial & mining activities are expected to open new opportunities for the market players in the future.
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Covid-19 Scenario on Rolling Stock Indsutry:
- Due to the Covid-19 outbreak, several governments implemented strict regulations regarding lockdown and trade restrictions. This disrupted the supply chain and caused large-scale manufacturing interruptions across exports. These factors have imposed pressure on the rolling stock industry.
- The demand for rolling stock is proportional to the government budget along with the demand from rail operations. However, the government budgets were affected by the pandemic, which hampered the market.
The report segments the global rolling stock market on the basis of analysis type, end use, and region.
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On the basis of type, the freight wagons segment dominated the market in 2020, contributing to more than two-fifths of the market. However, the metros segment is projected to manifest the highest CAGR of 5.7% during the forecast period.
Based on end use, the cargo train segment held the largest share in 2020, accounting for nearly three-fifths of the market. However, the passenger transit segment is estimated to register the highest CAGR of 4.2% during the forecast period.
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The global rolling stock market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the lion’s share in 2020, accounting for nearly one-third of the market. Moreover, the market across the Asia-Pacific region is expected to portray the highest CAGR of 5.1% from 2021 to 2030.
The global rolling stock market includes an in-depth analysis of the prime market players such as Alstom, Bombardier, CRRC Corporation Limited, General Electric, Hitachi Ltd., Siemens, Stadler Rail AG, The Greenbrier Companies Inc., TRANSMASHHOLDING, and TrinityRail.
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