Rolling Stock Industry Overview
The rolling stock market was valued at USD 59,280.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. Rolling stock such as wagons, locomotives, frights, and rapid transit vehicles plays an integral role in facilitating comfortable, reliable, and cost-effective transportation for the passengers and transporting goods, across long distances. The rolling stock demand has witnessed growth during the forecast period owing to the increasing adoption of public transport such as local trains, passenger trains, and metros.
Increasing budget allocation and launching various initiatives by the government for the development of railway infrastructure is also proving to be an effective parameter for the overall market growth. Environmental concerns such as growing carbon emission and high oil prices have invoked a need for environment-friendly railways, causing government and major players such as Alstom and CRRC Corporation Limited to pivot towards the electricity-based rolling stock.
Gather more insights about the market drivers, restraints, and growth of the Global Rolling Stock Market
The shockwaves of COVID-19 were felt throughout the globe. Following the guidelines, issued by the World Health Organization (WHO), many countries placed lockdown, which resulted in halting global trade activities. Exports and imports were disrupted majorly by the countries like China, resulting in manufacturing suspension and closures of factories worldwide.
These circumstances impacted the rolling stock market negatively. With the disruptions in the manufacturing process and the supply chain, the market was looking at an uncertain recovery timeline due to the decreased demand for the locomotive fleet. The demand for rolling stock was affected in countries impacted by COVID-19, due to the partial or full enacted lockdowns, and travel restrictions further decreased the demand. However, as the lockdown was lifted throughout the world, easing trade and travel restrictions. The demand for rolling stock experienced recovery as the operations of manufacturing companies and factories got resumed, initiating the continuation of railway projects around the world.
Since, the establishment of the railway transport system, the rolling stock has gone through substantial technological advancement. The technological advancements are making rail travel more comfortable, convenient, equipped with facilities, and fast along with environmentally friendly. Major players are innovating solutions, based on the rolling stocks existing technical advantages. Many companies are developing lightweight components to increase the fuel efficiency and reliability of the trains.
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Rolling Stock Market Segmentation
Grand View Research has segmented the global rolling stock market report based on product, type, train or region:
Rolling Stock Product Outlook (Revenue, USD Million, 2021 - 2030)
- Locomotive
- Rapid Transport
- Wagon
Rolling Stock Type Outlook (Revenue, USD Million, 2021 - 2030)
- Diesel
- Electric
Rolling Stock Train Type Outlook (Revenue, USD Million, 2021 - 2030)
- Rail Freight
- Rail Passenger
Rolling Stock Region Outlook (Revenue, USD Million, 2021 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- MEA
Market Share Insights:
January 2021: Alstom Transport acquired Bombardier Transportation. The integration of Bombardier Transportation into Alstom comes out as a strategic move, strengthening the position of Alstom, globally.
Key Companies profiled:
Some prominent players in the global Rolling Stock market include
- CRRC Corporation Limited
- Alstom Transport
- Siemens Mobility
- Stadler Rail AG
- GE Transportation
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