Dublin, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The "Global Railway Equipment Market, By Product Type (Rolling Stock, Railway Infrastructure, Others), By Type (Passenger, Cargo), By Application (Freight Wagons, Locomotives, DMUs, EMUs, Others), By Sales Channel, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Railway Equipment Market stood at USD163.12 billion in 2020 and is forecast to grow at a CAGR of over 6.26% until 2026. Growth in the railway equipment market is driven by increasing investment in intercity high-speed rail lines, a growing number of industrial centers worldwide, and increasing technological innovations in the rail and transit industry. Furthermore, surge in the demand for intercity and interurban connectivity, increasing population are anticipated to drive the Global Railway Equipment Market in the near future. Global rail sector has an innovative potential to deliver smart solutions which pertain to safety, security, punctuality, availability, accessibility, seamless operation, capacity, connectivity, sustainability, and other performances. The railway equipment industry has become pivotal for economic developments across several countries worldwide. Demand for these has risen amidst the rising volume of transported products and the expansion of the distance covered by logistics vehicles.
Based on product type, the market can be segmented into rolling stock, railway infrastructure and others. Rolling stock dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to increasing demand from freight and transportation industry. The hike in the prices of fuel across the globe has shifted the trend of freight transport to rails. Railroads operate in a competitive environment, especially with the trucking industry, and are always seeking ways to improve safety, cost and reliability.
Based on application, the market can be bifurcated into freight wagons, locomotives, DMUs, EMUs and others. Freight wagons dominated the market in 2020 due to the increase in fuel prices globally and the low level of external costs generated by rail freight. Furthermore, rail is the most eco-friendly land transport mode for freight, with much lower carbon dioxide emissions and energy consumption per ton-kilometer than road freight or transport by inland waterways. Rail freight has become an efficient choice for transportation of bulk commodities such as coal, coke, ores, and metal waste and an important mode for the transportation of petroleum products and fertilizers.
Based on sales channel, the market can be bifurcated into after-sales & OEM. After-Sales segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to the recurring after-market sales and services in the extensive installed base of railway equipment in regions such as Europe and North America.
On the basis of region, Europe held the largest share in the Global Railway Equipment Market in 2020 and is expected to maintain the market dominance during the forecast period owing to the constant update of the existing railway vehicles and broad penetration of railway services across the region. However, Asia Pacific is the fastest-growing region for railway equipment market owing to the large scale investments and effective policies by governments in the region.
Some of the major players in the Global Railway Equipment Market include CRRC Corporation Limited, Siemens AG, Alstom SA, Hitachi Ltd., Caterpillar Inc., China Railway Signal & Communication Corporation Ltd., Wabtec Corporation, Knorr-Bremse AG, Stadler Rail and Thales Group.
Objective of the Study:
- To analyze the historical growth in the market size of the Global Railway Equipment Market from 2016 to 2020.
- To estimate and forecast the market size of the Global Railway Equipment Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the Global Railway Equipment Market based on Product Type, Type, Application, Sales Channel, Company and Region.
- To identify the dominant region or segment in the Global Railway Equipment Market.
- To identify drivers and challenges for the Global Railway Equipment Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Railway Equipment Market.
- To conduct pricing analysis for the Global Railway Equipment Market.
- To identify and analyze the profile of leading players operating in the Global Railway Equipment Market.
- To identify key sustainable strategies adopted by market players in the Global Railway Equipment Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Railway Equipment Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness
5.2. Brand Satisfaction
5.3. Customer Satisfaction
6. Global Railway Equipment Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product Type (Rolling Stock, Railway Infrastructure and Others)
6.2.2. By Type (Passenger and Cargo)
6.2.2.1. By Passenger (Intra city, Inter city)
6.2.3. By Application (Freight Wagons, Locomotives, DMUs, EMUs and Others)
6.2.4. By Sales Channel (After-Sales and OEM)
6.2.5. By Region (Europe; Asia-Pacific; North America; Middle East & Africa; South America)
6.2.6. By Company (2020)
6.3. Product Market Map
7. Europe Railway Equipment Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. Europe Railway Equipment Market Country Analysis
8. Asia-Pacific Railway Equipment Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Asia-Pacific Railway Equipment Market Country Analysis
9. North America Railway Equipment Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. North America Railway Equipment Market Country Analysis
10. Middle East & Africa Railway Equipment Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. Middle East & Africa Railway Equipment Market Country Analysis
11. South America Railway Equipment Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. South America Railway Equipment Market Country Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Company Profiles
14.1.1. CRRC Corporation Limited
14.1.2. Siemens AG
14.1.3. Alstom SA
14.1.4. Hitachi Ltd.
14.1.5. Caterpillar Inc.
14.1.6. China Railway Signal & Communication Corporation Ltd.
14.1.7. Wabtec Corporation
14.1.8. Knorr-Bremse AG
14.1.9. Stadler Rail
14.1.10. Thales Group
15. Strategic Recommendations
16. About the Publisher & Disclaimer
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