Press release
Rolling Stock Management Market Expansion Outlook: $74.34 Billion in 2029
Rolling Stock Management
What Is the Projected CAGR for the Rolling Stock Management Market from 2024 to 2025?
In recent times, the market size for rolling stock management has experienced significant expansion. The market, which is projected to intensify from $54.88 billion in 2024 to $58.24 billion in 2025, is expected to see a Compound Annual Growth Rate (CAGR) of 6.1%. The notable progress witnessed in history can be linked to growing urban populace, governmental financial commitment, ecological rules, economic advancement and global trade expansion.
What are the Expected Market Size and CAGR for Rolling Stock Management by 2029?
The market size for rolling stock management is projected to witness significant growth over the next years, expanding to $74.34 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. Key factors driving this growth during the projected period include sustainable mobility trends, a rise in rail electrification, government incentives, the expansion of urban rail, and climate change regulations. The period is also expected to see major trends such as the incorporation of AI, intelligent transport solutions, digitalization innovations, automation, digital twins, and simulation models.
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Which Factors Are Driving the Global Rolling Stock Management Market Expansion?
The anticipated surge in rail transportation demand is predicted to bolster the expansion of the rolling stock management market. Rail transportation, which involves carrying passengers and freight via railway networks, provides an effective and commonly greener alternative for long-distance travel. The preference for rail transportation is increasing due to its effectiveness, sustainability, and capacities in alleviating congestion and emissions. Rolling stock management enables the effective upkeep, reliability, and ideal timing of trains, contributing to high service quality and passenger contentment. For example, data from the Office of Rail and Road, a UK-based non-ministerial government department, indicates that in the fiscal year from 1 April 2023 to 31 March 2024, the number of rail passenger journeys in Great Britain reached a considerable 1.61 billion. This represents a significant increase of 16% from the preceding year's total of 1.38 billion journeys. Hence, the escalating demand for rail transportation is set to fuel the growth of the rolling stock management market.
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Which Segment Currently Holds the Largest Share of the Rolling Stock Management Market?
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
Subsegments:
1) By Corrective Maintenance: Emergency Repairs, Component Replacement, Fault Detection And Troubleshooting
2) By Preventive Maintenance: Scheduled Inspections, Routine Lubrication And Cleaning, System Calibration
3) By Predictive Maintenance: Condition-Based Monitoring, Vibration And Thermal Analysis, Data Analytics For Failure Prediction
Which Major Trends Are Shaping the Future of the Rolling Stock Management Industry?
Key players in the rolling stock management market are increasingly exploiting artificial intelligence (AI), such as AI rail operations systems, to elevate safety and overall operational efficiency. These AI systems deployed in rolling stock management encompass predictive maintenance, safety improvements, real-time tracking, routing enhancement, and passenger experience management, all aimed at enhancing railway operations. An illustration of this is the launch of Monica Hub by ADComms, a transport and telecommunications service provider based in the UK, in June 2024. This advanced data aggregation and intelligent software system strives to revolutionize rail operations by integrating real-time data from more than 70 sources such as on-train sensors, station edifices, and the global positioning system (GPS). Monica Hub equips operators, infrastructure supervisors, and rolling stock maintainers with capabilities to provide superior passenger experiences with boosted efficiency and quality. The platform delivers formidable analytical tools and adjustable features to cater to a wide range of customer demands, ensuring optimized customer satisfaction and operational execution.
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Which Key Players Dominate the Rolling Stock Management Industry Globally?
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.
What Are the Fastest-Growing Regions in the Rolling Stock Management Market?
Europe was the largest region in the rolling stock management market in 2024. The regions covered in the rolling stock management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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