Pune, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report states that “The Rolling Stock Market, with a valuation of USD 53.87 billion in 2022, is projected to attain USD 74.86 billion by 2030, experiencing a compound annual growth rate (CAGR) of 4.2% during the forecast period spanning from 2023 to 2030”.
Market Overview
Rolling stock refers to the collection of vehicles used in the operation of a railway system, tramway, or any other rail-based transportation network. These vehicles are an essential component of any rail system and play a crucial role in ensuring the efficient and safe movement of passengers and goods. Rolling stock encompasses a wide variety of vehicles, each designed for specific purposes within the rail system. High-speed rolling stock is designed for rapid transit between cities and regions. These trains are engineered for high efficiency and speed, reducing travel times and improving connectivity.
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Market Analysis
The rolling stock market, which encompasses the production and maintenance of locomotives, passenger and freight cars, and other railway vehicles, is influenced by a multitude of factors that drive its growth and evolution. The global trend towards urbanization and the increasing world population create a growing demand for efficient and sustainable transportation solutions. As cities expand, there is a greater need for reliable and environmentally friendly public transportation, which often relies on rolling stock. Investment in rail infrastructure, such as the construction of new railway lines, high-speed rail networks, and modernization of existing tracks, fosters demand for rolling stock. Governments and private investors often allocate significant budgets to improve rail infrastructure for both passenger and freight transportation. The globalization of trade continues to boost the demand for efficient freight transportation. Railways are a cost-effective and sustainable solution for transporting goods over long distances, spurring investments in rolling stock for the freight sector.
Rolling Stock Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 53.87 billion |
| Market Size by 2030 | USD 74.86 billion |
| CAGR | CAGR of 4.2% over 2023-2030 |
| Key Segments | by Product Type (Locomotive Coaches, Rapid Transit, Wagons, Others) by Application Type (Passenger Application, Freight Application) by Locomotive Technology (Conventional Locomotive, Maglev, Turbocharged Locomotive) |
| Key Market Players | Alstom, Bombardier Transportation, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Hyundai Corporation, IHI Corporation, Construcciones Y Auxiliar De Ferrocarriles, Kawasaki Heavy Industries Ltd., Pesa Bydgoszcz SA, PPF Group N.V., Siemens AG, Nippon Sharyo, Ltd., Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, Inc., The Kinki Sharyo Co., Ltd., Transmashholding, Trinity Industries, The Greenbrier Companies, and Wabtec Corporation and other players |
Key Takeaway from Rolling Stock Market Study
- The market is poised for significant growth in the coming years, with the locomotive coaches segment expected to take center stage. As urbanization continues to rise, the demand for efficient and sustainable urban transportation systems has never been greater. Locomotive coaches play a vital role in commuter rail services, providing a reliable and environmentally friendly mode of transport for urban populations.
- The market is on the cusp of a transformative era, and the passenger application segment is poised to play a leading role in shaping its future. Passenger trains, with their ability to transport large numbers of people quickly and comfortably, are becoming the preferred choice for daily commuters. This surge in demand is driving the growth of the passenger application segment.
Recent Developments
- Siemens Mobility, a global leader in transportation solutions, has recently announced a significant expansion of its manufacturing facility in the United States. The expanded facility will focus on producing a wide range of transportation solutions, including modern rail systems, electrification infrastructure, and digital mobility technologies.
- PKP Intercity, one of Poland's leading railway operators, has inked a significant deal with its sister company Remtrak for the maintenance of its rolling stock. This strategic partnership marks a significant step forward in ensuring the reliability and safety of the country's rail network.
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Market Dynamics Analysis
The rolling stock market is marked by a complex interplay of drivers, restraints, challenges, and threats that shape its dynamics. On the driver's side, the increasing urbanization and population growth across the globe fuel the demand for efficient and sustainable transportation systems, prompting investments in modern and technologically advanced rolling stock. Moreover, the push for greener mobility options is propelling the adoption of electric and hybrid trains, further boosting the market. Additionally, government initiatives to upgrade aging rail infrastructure and expand high-speed rail networks are driving the demand for new rolling stock. However, the market faces significant restraints and challenges. One of the primary restraints is the high upfront cost associated with the development and procurement of modern rolling stock, which can deter potential buyers and operators. Economic uncertainties and budget constraints, exacerbated by the COVID-19 pandemic, have also hampered market growth.
Key Regional Developments
In North America, the rolling stock market has witnessed steady growth in recent years. The United States and Canada continue to invest in the modernization of their rail networks to enhance efficiency and reduce emissions. Europe has a well-established and mature market. The region is characterized by a diverse landscape of railway operators, each with its unique requirements. Western European countries like Germany and France are investing heavily in high-speed trains and expanding their networks to connect major cities. The Asia-Pacific region is experiencing rapid growth in the market. Countries like China and India have ambitious plans for expanding their rail networks to address the increasing demand for transportation. China's high-speed rail network, for instance, is the largest in the world and continues to expand.
Impact of Recession
An ongoing recession can have a multifaceted impact on the rolling stock market, affecting manufacturers, operators, and service providers. While the immediate consequences may involve reduced demand and financial constraints, the industry's ability to adapt, innovate, and respond to changing market dynamics will ultimately determine its resilience in the face of economic downturns. Government policies and stimulus measures can also play a crucial role in mitigating the recession's negative effects on the market.
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TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Rolling Stock Market Segmentation, by Product type
8.1 Locomotive
8.2 Coaches
8.3 Rapid Transit
8.4 Wagons
8.5 Others
9. Global Rolling Stock Market Segmentation, by Application type
9.1 Passenger Application
9.2 Freight Application
10. Global Rolling Stock Market Segmentation, by Locomotive technology
10.1 Conventional Locomotive
10.2 Maglev
10.3 Turbocharged Locomotive
11. Regional Analysis
12. Company Profile
12.1 Siemens AG
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Alstom, Bombardier Transportation
12.3 S.A (CAF)
12.4 CRRC Corporation Limited
12.5 Hitachi, Ltd.
12.6 Hyundai Corporation
12.7 IHI Corporation
12.8 Construcciones Y Auxiliar De Ferrocarriles
12.9 Kawasaki Heavy Industries
12.10 Pesa Bydgoszcz SA
12.11 PPF Group N.V.
12.12 Nippon Sharyo, Ltd.
12.13 Stadler Rail AG
12.14 Talgo
12.15 Tatravagonka A.S. Poprad, Inc.
12.16 The Kinki Sharyo Co., Ltd.
12.17 Transmashholding
12.18 Trinity Industries
12.19 The Greenbrier Companies
12.20 Wabtec Corporation
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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Impact of Recession
The ongoing recession has undoubtedly posed challenges to the ground penetrating radar market. Reduced infrastructure spending, delayed projects, and budget constraints have contributed to a decline in demand and revenue. However, the ability of GPR companies to adapt, innovate, and potentially benefit from government stimulus packages may help mitigate the negative effects. As the global economy gradually recovers, the GPR market will likely see a resurgence in demand, but the extent and pace of this recovery will depend on various economic and industry-specific factors.
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