Press release
Railway Rolling Stock Market Outlook 2024: Comprehensive Analysis on Industry Demand, Technological Advancements, and Future Growth Opportunities
Railway Rolling Stock Market
As per the report, the railway rolling stock market size has grown strongly in recent years. It will grow from $50.35 billion in 2023 to $53.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The railway rolling stock market size is expected to see strong growth in the next few years. It will grow to $68.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
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Electrification Surge In Rail Networks Drives Growth In Railway Rolling Stock Market
The growing electrification of rail networks is expected to propel the growth of the railway rolling stock market going forward. The electrification of rail networks is the process of converting locomotives and railway lines to use electric power instead of diesel or other fuel sources. There is growing electrification of rail networks, primarily to reduce greenhouse gas emissions and improve operational efficiency. Railway rolling stock is used in the electrification of rail networks to facilitate the transition to electric trains by incorporating electric traction systems and other necessary equipment. For instance, in February 2024, according to Eurostat, a Europe-based intergovernmental statistical organization, the quantity of railcars powered by electricity in France rose to 7113, marking an increase from 7081 in 2021 and 6908 in 2020. Similarly, in Sweden, the number increased to 2889 in 2022, reflecting a growth rate of 25.99% compared to 2291 in 2021. Therefore, the growing electrification of rail networks will drive the growth of the railway rolling stock market.
Smart Train Lease Concept With Advanced Technology For Enhanced Efficiency And Sustainability
Major companies operating in the railway rolling stock market are focusing on development of smart railways and digitalization technologies, such as smart train lease technology, to optimize the leasing process and improve the management of train assets. Smart train lease technology for rolling stock incorporates advanced IoT and data analytics to optimize maintenance, improve operational efficiency, and enhance the passenger experience. For instance, in February 2024, Siemens Mobility GmbH, a Germany-based railway company, launched the smart train lease technology for rolling stock, leveraging advanced technology to provide optimized leasing solutions, aiming to enhance efficiency, reduce costs, and improve asset management for rail operators. The smart train lease concept introduces a new era of rail leasing by incorporating state-of-the-art digital tools and analytics. These tools enable real-time monitoring and predictive maintenance, ensuring that trains are always in optimal condition, thereby reducing downtime and maintenance costs.
The railway rolling stock market covered in this report is segmented -
1) By Type: Type I, Type II, Type III, Type IV
2) By Wheel Type: Monoblock Wheels, Resilient Wheels, Rubber Tired Wheels, Steel Tired Wheels, Other Special Wheels
3) By Axle Type: Hollow Axles, Solid Axles
4) By Application: High Speed Trains, Light Rail Vehicles, Locomotives, Metros, Regional And Commuter Trains, Special Purpose Vehicles
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Major companies operating in the railway rolling stock market are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, CRRC Corporation Limited, ABB Ltd., Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Bombardier Transportation, Tech Mahindra Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles SA, The Greenbrier Companies Inc, Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., CSR Corporation Limited, Vossloh AG, Amsted Rail Company Inc, Škoda Transportation as, PESA Bydgoszcz SA, Siemens Mobility GmbH, Nippon Sharyo Ltd, Patentes Talgo SL, Talgo SA, FreightCar America Inc
Contents of the report:
1. Executive Summary
2. Railway Rolling Stock Market Report Structure
3. Railway Rolling Stock Market Trends And Strategies
4. Railway Rolling Stock Market - Macro Economic Scenario
5. Railway Rolling Stock Market Size And Growth
…..
27. Railway Rolling Stock Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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