New York, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The global rolling stock market size is expected to expand at ~6.80% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 120.64 billion by the end of 2035, up from a revenue of ~USD 54.78 billion in the year 2022.This growth of the market is set to be influenced by the growing demand for railway transportation. Hence, the development of trains is also rising. For instance, at an overall cost of more than USD 499 billion worldwide, over 247 rail building projects got underway in 2022.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4798
Additionally, there has been growing government initiatives in order to boost the railway infrastructure. For instance, in order to increase speed and meet its goals of doubling the average speed of goods trains and raising the average speed of superfast, mail and express trains by 25 kmph, the government announced Mission Raftaar in August 2022, in India. Hence, such initiatives taken by government in different nations is also estimated to influence the market growth.
Growing Urban Population to Boost the Growth of Global Rolling Stock Market
Globally, there were approximately 5 billion people living in metropolitan regions with an additional 4 billion living in rural areas as of 2021. In 1950, there were approximately more than 750 million people living in cities; by 2021, that number had nearly doubled to almost 5 billion; by 2050, it is projected to reach over 7 billion, adding over 3 billion more people to metropolitan regions. This has increased the need for public transport especially railways. As a result, the market for rolling stock is experience growth.
Rolling Stock Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Population to Drive the Market Growth in Asia Pacific
The rolling stock market in Asia Pacific is estimated to capture the highest share of about 29% over the projected period. This growth of the market is set to be influenced by the rising population. 60 percent of the world's population, or over 4.3 billion people, reside in the Asia and Pacific region, which is home to China and India, the two most populous nations on earth.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-4798
Surge in Transportation of Freight through Railway in North America
The North America for rolling stock is set to gather a significant share of about 23% over the coming years. This growth is poised to be encouraged by the rising transportation of freight through rail in this region. In the United States, freight railroads move around 2 billion tons of completed goods and raw materials annually. Average tonnage has increased as a result partially to redesigned railcars. The average goods train weight increased from over 2,922 tons in 2000 to close to 4,088 tons in 2022.
Rolling Stock, Segmentation by Type
- Electric
- Diesel
The electric segment is poised to gather the largest revenue by the end of 2035. This growth of the segment to set to be influenced by growing carbon emissions. Hence, over 84% of passenger rail traffic and approximately 54% of freight movements are handled by electric rail, which produces no direct greenhouse gas emissions.
Rolling Stock, Segmentation by End-User
- Passenger Transit
- Cargo Train
The cargo train segment is expected to have notable growth in the market over the forecast period. The main element to dominate the segment growth is rising e-commerce activity. About 3 billion people are expected to purchasing digital goods by 2023. This represents over 32% of the global populace. Hence, the demand for railway is also growing since it is used frequently to export e-commerce cargo.
Request for Customization of this Report @ https://www.researchnester.com/customized-reports-4798
A few of the well-known market leaders in the global rolling stock market that are profiled by Research Nester are The Kinki Sharyo Co., Ltd., HYUNDAI Corporation, Siemens AG, ALSTOM, Wabtec Corporation, Stadler Rail AG, MAPNA Group, PPF GROUP, The Greenbrier Companies, IHI Corporation, and others.
Recent Development in the Market
- The Greenbrier Companies, Inc. declared that it has completed the purchase of a 100% interest in GBX Leasing ("GBXL"), its railcar leasing joint venture with The Longwood Group ("Longwood"). This advances Greenbrier's plan to increase the number of leased vehicles and services it provides.
- Ferrocarrils de la Generalitat Valenciana and Stadler Rail AG inked an agreement for the delivery of 16 TRAMLINK trams, with the option to add an additional 12 vehicles to the order.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
