Portland, OR, July 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global rolling stock market generated $51.31 billion in 2021 and is projected to reach $73.27 billion by 2031, registering a CAGR of 3.7% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Surge in demand for secure, safer, & efficient transport, rise in use of public transport services as a solution to minimize traffic congestions among people, and increase in allocation of the budget for development of railways are expected to drive the growth of the global rolling stock market. On the other hand, high capital requirement is expected to hinder the growth to some extent. However, persistent technological advancements and improvement in railway infrastructure are expected to create ample opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global rolling stock market, owing to the occurrence of lockdowns in various countries across the globe.
- The railway department shut down all the passenger train services and further limited its freight transport services due to reduction in demand for commodities and disrupted supply chain. This was majorly due to the stringent social distancing restrictions imposed by the government to significantly curb the spread of the virus during the pandemic.
- However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global rolling stock market based on type, end-use, and region.
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Based on type, the freight wagons segment held the largest market share in 2021, holding more than two-fifths of the global market. The metros segment, on the other hand, is predicted to cite the fastest CAGR of 6.1% during the forecast period.
Based on end-use, the cargo train segment held the dominating market share in 2021, holding nearly three-fifths of the global market. The passenger transit segment, on the other hand, is predicted to cite the fastest CAGR of 4.4% during the forecast period.
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Based on region, Europe held the lion’s share in 2021, garnering nearly one-third of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 5.3% during the forecast period.
The key players analzyed on the global rolling stock market report include Alstom, Construcciones Y Auxiliar De Ferrocarriles, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Hyundai Corporation, IHI Corporation, Kawasaki Heavy Industries, Ltd., MAPNA Group, Nippon Sharyo, Ltd., PESA Group, PPF Group N.V., Progress Rail (subsidiary of Caterpillar), Siemens, Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, The Greenbrier Companies, Inc., The Kinki Sharyo Co., Ltd., Trinity Industries, Inc., and Wabtec Corporation.
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