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Rolling Stock Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Rolling Stock
What Is the Forecasted Market Growth Rate of the Rolling Stock Industry?
The market size of the rolling stock has been consistently expanding in the past few years. It is projected to increase from $61.79 billion in 2024 to $64.82 billion in 2025, displaying a compound annual growth rate (CAGR) of 4.9%. The upturn in the historic timeframe is a result of a surge in the need for mass transportation, a heightened demand for intermodal transportation, enhancements in rail transportation systems, and the requirement for efficient and dependable transport.
How Will the Rolling Stock Market Size Evolve From 2025 to 2029?
The market size for rolling stock is forecasted to experience substantial expansion in the coming years, reaching $85.9 billion by 2029 with a 7.3% compound annual growth rate (CAGR). Factors contributing to this projected growth during the forecast period are the development of urban areas, escalating population density, incorporation of automation and digitalization in rolling stock, integration of sustainable energy, enhanced connectivity, and Internet of Things (IoT) integration. Key trends for the forecast period are the electrification of rail networks, the adoption of maglev technology, emphasis on energy efficiency, the inclusion of artificial intelligence, and customized and modular rolling stock.
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What Are the Main Growth Drivers in the Rolling Stock Market Today?
The surging need for energy-conserving transportation systems is predicted to propel the expansion of the rolling stock market. Such efficient systems facilitate the movement of both individuals and goods while conserving time, money, and energy. Rolling stocks, deployed in trains, contribute to diminishing energy use; thus, the increasing demand for energy-conserving transportation systems escalates the requirement for rolling stocks. For instance, the Council On Energy, Environment And Water estimates that by 2030, one-third of four-wheelers and half of the two wheelers sold in India will be electric, reflecting the growing demand for energy efficiency. These figures are projected to increase to 75% and 90%, respectively, by 2050. As a result, the need for energy-conserving transport systems fuels the expansion of the rolling stock market.
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Which Rolling Stock Market Segment Is Expected to Lead Through 2029?
The rolling stock market covered in this report is segmented -
1) By Product: Locomotive, Rapid Transit Vehicle, Wagon
2) By Locomotive Technology: Conventional Locomotive, Turbocharge Locomotive, Maglev, Diesel Locomotive, Electric Locomotive, Electro-Diesel Locomotive
3) By Component: Pantograph, Axle, Wheelset, Traction Motor, Auxiliary Power System, Other Components
4) By End User: Passenger Transit, Cargo Train
Subsegments:
1) By Locomotive: Diesel Locomotive, Electric Locomotive, Hybrid Locomotive
2) By Rapid Transit Vehicle: Light Rail Vehicle (LRV), Metro Or Heavy Rail, Monorail
3) By Wagon: Freight Wagon, Tank Wagon, Hopper Wagon, Flat Wagon
Which Market Trends Are Expected to Dominate Rolling Stock Industry Growth?
Prominent players in the rolling stock market are focusing their efforts on creating cutting-edge diesel-battery-electric hybrid engines to satisfy the growing need for eco-friendly transport alternatives. These hybrid locomotives blend the use of conventional diesel engines with electric batteries, creating a system that optimizes energy consumption and minimizes emission levels. The diesel aspect addresses the needs of long trips and high-energy requirements, whereas the battery is utilized for short-ranged transportation and recuperative braking processes in low-emission areas. Illustratively, Progress Rail, an American transit firm, launched the EMD GT38H in October 2023. This model features a Caterpillar 3512 diesel engine, which, coupled with a generator and a lithium-ion battery bank, delivers a starting tractive capacity of 495 kN and a sustained tractive force of 402 kN. Capable of reaching speeds of up to 60 km/h and possessing a 550 kWh battery reserve, these locomotives can charge both regeneratively and externally. The use of such engines is projected by Rumo to lead to fuel savings of around 45% and significant reductions in particulate matter, NOx emissions, and noise levels. Built to cope with unforgiving terrains, these locomotives are ideally suited to Rumo's narrow-gauge South Network.
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Which Companies Hold the Largest Market Share in the Rolling Stock Sector?
Major companies operating in the rolling stock market include 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., Texmaco Rail & Engineering Ltd., Alna Sharyo Co. Ltd., Pesa Group
Where Is the Rolling Stock Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the rolling stock market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the rolling stock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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