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Rolling Stock Market: Trends, Insights & Future Growt | 2024 To 2033 Key Players Alstom Holdings SA, Bombardier Inc., Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corporation Ltd.
Rolling Stock Market Share
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According to The Business Research Company's, The rolling stock market size has grown strongly in recent years. It will grow from $58.65 billion in 2023 to $62.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased demand for mass transportation, increased demand for intermodal transportation, development of rail transportation system, need for efficient and reliable transportation.
The rolling stock market size is expected to see strong growth in the next few years. It will grow to $82.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to growth of urbanization, rising population density, increasing use of automation and digitalization in rolling stock, sustainable energy integration, increased connectivity and iot integration. Major trends in the forecast period include electrification of rail networks, adoption of maglev technology, focus on energy efficiency, integration of artificial intelligence, modular and customized rolling stock.
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Market Drivers and Trends:
The demand for energy-efficient transport systems is expected to propel the growth of the rolling stock market going forward. Efficient transportation systems allow people and products to move while saving time, money, and energy. Rolling stocks are used in trains and help to reduce energy consumption, as a result, rising demand for energy-efficient transportation systems drives up demand for rolling stocks. For instance, according to Council On Energy, Environment And Water, by 2030, one-third of the four-wheelers, and half of the two wheelers sold in India would be electric as the demand for energy efficiency on the rise. The number would climb to 75% and 90% repectively by 2050. Therefore, the demand for energy-efficient transport systems is driving the growth of the rolling stock market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Alstom Holdings SA, Bombardier Inc., Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corporation Ltd., GE Transportation, Hitachi Ltd., Hyundai Rotem Company, Kawasaki Heavy Industries Ltd., Siemens AG, Stadler Rail AG, Transmash Holding, Electro-Motive Diesel Ltd., Skoda Transportation AS, Talgo SA, Trinity Industries Inc., Wabtec Corporation, Ansaldo STS, PESA Bydgoszcz SA, Newag SA, MAPNA Group, Nippon Sharyo Ltd., Caterpillar, IHI Corporation, Tatravagonka A. S., Virgin Hyperloop, Transpod Inc., Subaru Corporation, Texmaco Rail & Engineering Ltd., Alna Sharyo Co. Ltd., Pesa Group
Rolling Stock Market 2024 Key Insights:
• The rolling stock market size is expected to see strong growth in the next few years. It will grow to $82.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Meeting The Demand For Energy-Efficient Transport Systems
• The Trend Of Converting Diesel Locomotives In The Rolling Stock Market
• Asia-Pacific was the largest region in the rolling stock market in 2023
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