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Rolling Stock Management Global Market Analysis, Trends, Growth, Research And Forecast 2033
Rolling Stock Management Global Market
As per the report, the rolling stock management market size has grown strongly in recent years. It will grow from $51.57 billion in 2023 to $54.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The rolling stock management market size is expected to see strong growth in the next few years. It will grow to $70.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
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Impact Of Increasing Rail Transportation Demand On Rolling Stock Management
Increasing demand for rail transportation is expected to propel the growth of the rolling stock management market going forward. Rail transportation involves the movement of passengers and freight using rail networks, providing an efficient and often environmentally friendly mode of long-distance transport. The demand for rail transportation is rising due to its efficiency, sustainability, and ability to reduce congestion and emissions. Rolling stock management ensures efficient maintenance, reliability, and optimal scheduling of trains, which enhances overall service quality and passenger satisfaction. For instance, in June 2024, according to the Office of Rail and Road, a UK-based non-ministerial government department, in the latest fiscal year (1 April 2023 to 31 March 2024), rail passenger journeys in Great Britain reached 1.61 billion, marking a significant 16% growth from the previous year's total of 1.38 billion journeys. Therefore, increasing demand for rail transportation will drive the growth of the rolling stock management market.
Enhancing Predictive Maintenance And Operational Efficiency In Railways With AI
Major companies operating in the rolling stock management market are focusing on the integration of artificial intelligence (AI), such as AI rail operations systems, to improve overall operational efficiency and safety. AI rail operations systems in rolling stock management integrate predictive maintenance, real-time monitoring, routing optimization, passenger experience management, and safety enhancements to optimize railway operations. For instance, in June 2024, ADComms, a UK-based provider of transport and mobile telecommunication services, launched Monica Hub, a cutting-edge data aggregation and intelligent software system aimed at revolutionizing rail operations. By seamlessly integrating real-time data from over 70 sources, including on-train sensors, station infrastructure, and the global positioning system (GPS), Monica Hub empowers operators, infrastructure managers, and rolling stock maintainers to deliver exceptional passenger journeys with enhanced efficiency and quality. The platform offers robust analytical tools and customizable features to meet diverse customer needs, ensuring optimized operational performance and customer satisfaction.
The rolling stock management market covered in this report is segmented -
1) By Maintenance Service: Corrective Maintenance, Preventive Maintenance, Predictive Maintenance
2) By Management Type: Railway, Infrastructure
3) By Application Type: Goods Carrier, Passenger Carrier
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Major companies operating in the rolling stock management market are Hitachi Ltd, CRRC Corporation Limited, Mitsubishi Heavy Industries Ltd, ABB Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles, The Greenbrier Companies Inc., Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., Vossloh AG, Amsted Rail Company Inc, Siemens Mobility GmbH, Nippon Sharyo Ltd, Talgo SA, FreightCar America Inc.
Contents of the report:
1. Executive Summary
2. Rolling Stock Management Market Report Structure
3. Rolling Stock Management Market Trends And Strategies
4. Rolling Stock Management Market - Macro Economic Scenario
5. Rolling Stock Management Market Size And Growth
…..
27. Rolling Stock Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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