According to a recent report published by Allied Market Research, titled, “Rolling Stock Market by Type and End-Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global rolling stock market was valued at $55.7 billion in 2020, and is projected to reach $78.7 billion by 2030, registering a CAGR of 3.5% from 2021 to 2030.
Europe is the highest revenue contributor, followed by Asia-Pacific, North America, and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to lead the rolling stock market growth during the forecast period, owing to the countries such as China, India, Australia, Japan among others is largely focused on developing metros and monorails for intra-city travel to reduce the travelling time and regulate the pollution in the region
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Rolling stock referred to the vehicles that move on a railway. It usually includes both powered and unpowered vehicles such as locomotives, railroad cars, passenger coaches, freight wagons and others. Rolling stock are used for urban transit, mainline travel, regional transport, mining networks and freight. It is considered to be one of the most cost-effective modes of conveyance for commuters as well as for transporting heavy or bulky goods over long distances. Rolling stock such as locomotives are powered with various propulsion types such as diesel, electric, electro-diesel, and others. Rolling stocks can also be easily customized as per the exact requirements of the end user and provides a larger carrying capacity in comparison to other forms of transportation.
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Factors such as increase in allocation of the budget for development of railways, rise in demand for secure, safer, & efficient transport, and increase in use of public transport services as a solution to minimize traffic congestions drive the growth of the rolling stock market. However, high capital requirement and refurbishment of existing rolling stock are anticipated to hamper the growth of the rolling stock market.
Further, increase in development & testing of autonomous train, improvement in railway infrastructure, particularly in developing countries, and rise in industrial & mining activity are expected to create numerous opportunities for rolling stock market expansion.
COVID-19 Impact Analysis:
Following the directions of the WHO for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports, especially from China, causing large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The situation has put intense pressure on the rolling stock industry. Along with disruptions in initial supply and manufacturing processes, the industry is also experiencing a setback with an uncertain recovery timeline due to decreased demand. Therefore, the reduced production of rolling stock due to temporary shutdown of manufacturing plants is expected to negatively impact the growth of the rolling stock market. Furthermore, the demand for rolling stock is largely proportional to government budgets along with the demand from rail operators. However, budget allocations for rail network expansion are expected to be significantly affected due to pandemic, which is expected to hamper the demand for rolling stock during pandemic.
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Key Findings Of The Study
On the basis of type, the others segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of end-use, the Cargo train segment is the highest contributor to the rolling stock market in terms of revenue.
The major companies profiled in the rolling stock market include Alstom, Bombardier Transportation, Construcciones Y Auxiliar De Ferrocarriles, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Hyundai Corporation, IHI Corporation, Kawasaki Heavy Industries, Ltd., Nippon Sharyo, Ltd., Pesa Bydgoszcz SA, PPF Group N.V., Siemens AG, Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, The Greenbrier Companies, Inc., The Kinki Sharyo Co., Ltd., Transmashholding, Trinity Industries, Inc. and Wabtec Corporation.
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Rolling Stock Market to Reach $73.8 Bn, Globally, by 2026 at 2.9?GR: Allied Market Research
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