Rolling Stock Market Projected To Raise At USD 96.58 Billion By 2030

 

San Francisco, 2 May 2024: The Report Rolling Stock Market Size, Share & Trends Analysis Report By Product (Locomotive, Rapid Transit Vehicle, Wagon), By Type, By Train Type, By Region, And Segment Forecasts, 2024 - 2030

The global rolling stock market size is expected to reach USD 96.58 billion by 2030 and is anticipated to expand at a CAGR of 6.3% during the forecast period, according to a new report by Grand View Research, Inc. Rising focus of governments and railway companies on enhancing digitalization of railway infrastructure and increasing demand for efficient transportation, rail security, and commuter comfort owing to growing urbanization are some of the key factors driving the global rolling stock market growth. In addition, the growing focus of countries on enhancing their transportation systems by increasing the freight capacity is further anticipated to create lucrative opportunities for the stakeholders in the rolling stock market over the forecast period.

From transporting raw materials to industrial equipment, rolling stock plays a multi-functional role on a global scale. With a growing focus of countries on creating a green railway network, several governments and private entities are joining hands to infuse significant investments to achieve their set targets of sustainable transportation. For instance, in January 2023, Siemens Mobility, one of the global transport solutions providers, received an order for 1,200 locomotives of 9,000 (HP) from the Indian Railways. Siemens Mobility will design, commission, manufacture and test the locomotives while delivering the offerings over a span of eleven years. This contract is valued at approximately USD 3.3 billion, and the locomotives are expected to be assembled in the Indian Railway Depots facility in Gujarat. Thus, with this contract, Siemens Mobility is anticipated to support the Indian Railway’s ambition of doubling its freight capacity and achieving sustainable transportation goals.

Government agencies in countries such as South Korea, India, Norway, and Italy are moving towards an electrification of railways. Thus, prompting heavy investments from train service providers and government bodies to develop and expand electric rolling stock and its infrastructure is further anticipated to drive the market growth over the forecast period. For instance, in June 2023, LTG Link, a train service provider awarded a contract to Stadler Rail AG, a rolling stock manufacturer to supply flirt trains. The contract include purchase of 15 Flirt units, 26 battery-electric Flirt trains, and 13 electric Flirt Intercity multiple units. The contract also include supply of spare parts and technical support for 10 years from the manufacturer.

The market is driven by the demand for improved passenger comfort. New technologies such as high-speed trains, modern interiors, and advanced sound-insulation systems are making rail travel more comfortable. Moreover, integrating Wi-Fi, infotainment systems, and charging ports in trains enhances the passenger experience. The growing demand for sustainable transportation is a major factor driving the rolling stock market growth. New technologies such as hydrogen fuel cells, battery electric trains, and hybrid locomotives are making rail transportation more sustainable. These technologies reduce emissions, minimize noise pollution, and help improve air quality.

Access Research Report of Rolling Stock Market @ https://www.grandviewresearch.com/industry-analysis/rolling-stock-market

Rolling Stock Market Report Highlights

• The wagons segment led the market in 2023 in terms of revenue. Companies such as CRRC Corporation Limited, Porterbrook, and GB Railfreight are investing considerable funds into making wagons. Modern wagons have a speed limit of up to 75 mph (121 km/h) in some countries and are equipped with GPS receivers and transponders, which help in monitoring location
• Diesel segment dominated the market in 2023. Factors such as low cost, easy availability, and lesser volatility of diesel engines contribute to the growth of the segment
• The rail freight segment led the market in 2023 in terms of revenue. Implementation of GPS tracking systems and the integration of intelligent systems have improved the quality of this type of transportation service is anticipated to drive the segment growth
• Asia Pacific dominated the rolling stock market in 2023. The government is making significant investments in railway companies to help improve transportation services, expand the current train network, and attract more passengers toward rail transportation
• In January 2023, The Greenbrier Companies announced the acquisition of a 100% stake in GBX Leasing (GBXL), its rolling stock leasing joint venture with The Longwood Group The acquisition enabled the company to strengthen its strategy of expanding its lease fleet and service offerings. The Greenbrier Companies acquired Longwood's minority interest in its GBXL leased railcars portfolio, which is manufactured primarily by The Greenbrier Companies. GBXL now operates as a subsidiary of The Greenbrier Companies

Rolling Stock Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 67.12 billion
Revenue forecast in 2030	USD 96.58 billion
Growth rate	CAGR of 6.3% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in Rolling Stock Market

• Alstom Transport
• CRRC Corporation Limited
• GE Transportation
• Hitachi Rail System
• Hyundai Rotem
• Kawasaki Heavy Industries, Ltd.
• Siemens Mobility
• Stadler Rail AG
• The Greenbrier Co.
• Trinity Rail

Access Press Release of Rolling Stock Market @ https://www.grandviewresearch.com/press-release/global-rolling-stock-market