The Rolling Stock Market is estimated to be USD 48.95 Billion in 2016, and is projected to grow to USD 58.66 Billion by 2021, at a CAGR of 3.68%.
The growing demand for public transport and increasing need for energy-efficient transport are some of the key drivers fueling the growth of this market.
Turbocharged locomotives to hold the largest share in the rolling stock market, by locomotive technology
The turbocharged locomotive segment is estimated to account for the largest share in the rolling stock market. The primary advantage of the turbocharged locomotive is that it offers more power with no increase in fuel costs. Major OEMs such as ABB Ltd. have modernized turbochargers in locomotives to meet the technical, environmental, and cost requirements of the rolling stock market. This is increasing the demand for turbochargers and turbocharged locomotives.
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Freight wagons: A promising market due to the resurgence of mining activities
The demand for freight wagons is high in countries such as the U.S., China, and Russia. This can be attributed to the replacement demand and growth of the manufacturing sector in these countries. Custom-made and technologically advanced wagons, such as chemical and pressure tank wagons and car-carrier and low-loader container-carrying wagons, are manufactured in Western Europe and other developed regions. The increased mining activities in emerging economies are expected to boost the market for freight transportation. The growth of freight transportation is expected to consequently propel the growth of freight wagons and locomotives.
Asia-Oceania: Largest market for rolling stock
Asia-Oceania is estimated to account for the largest share, in terms of value, of the rolling stock market in 2016. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transportation infrastructure is proving to be insufficient. The expansion of this network is expected to drive the demand for new vehicles.
Europe is estimated to be the second-largest rolling stock market, by value, in 2016.
The European Union represents the largest market for rail products and services, with rolling stock constituting the largest segment of this market. The European region has been segmented into Germany, France, the U.K., and Italy. North America is estimated to account for the third-largest share in the rolling stock market in 2016.
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The report analyzes all major players in the rolling stock market, including CSR Corporation Ltd. (China), Siemens AG (Germany), Bombardier Inc. (Canada), Alstom SA (France), and General Electric Company (U.S.).
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