Rolling Stock Market Size to Hit $60.35 Billion by 2030 | Exhibit a CAGR of 2.5%
Rising Adoption of Electric Trains to Drive the Rolling Stock Market Growth. Growing Urbanization and Population Growth to Spur Market Opportunities: Fortune Business Insights™
Rolling Stock Market
Pune, India, July 12, 2023 (GLOBE NEWSWIRE) — The global rolling stock market size was valued at $50.03 billion in 2022. The market is expected to grow from $50.86 billion in 2023 to $60.35 billion by 2030, exhibiting a CAGR of 2.5% during the forecast period. The rising adoption of electric trains is growing rapidly due to their versatile benefits. Electric trains require less manufacturing and repairing time as compared to other locomotives. Fortune Business Insights™ presents this information in its report titled “Rolling Stock Market, 2023-2030.”
Acquisitions, Mergers, and Strategic Partnerships to Build Basis of Business Expansion
Alstom acquired Bombardier Transportation for USD 6.06 billion in January 2021. The acquisition is anticipated to build strong leadership in the sustainable mobility industry. The newly formed firm will gain a great amount of revenue and backlog. Such initiatives are projected to help the company attain a competitive advantage and increase profitability.
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|Forecast Period 2023 to 2030 CAGR||2.5%|
|2030 Value Projection||USD 60.35 Billion|
|Market Size in 2022||USD 50.03 Billion|
|Historical Data for||2019-2021|
|No. of Pages||150|
Drivers & Restraints-
Growing Urbanization and Population Growth to Foster Market Growth
High urbanization rates and rapid population growth in developing economies will augment the rolling stock market growth during the projected period. Supportive decarburization policies and electrification of rolling stock will drive passenger rail transport, supporting market growth.
High capital investments associated with rolling stock railway infrastructure development and manufacturing might hinder market growth in the near future.
COVID-19 Hindered Market Growth Owing to Unavailability of Raw Materials
The global market growth was hindered due to raw material unavailability. The market witnessed a downfall during the pandemic due to the adverse effect on supply-chain demand dynamics. The pace of the market slowed due to procurement delays and less availability of raw materials caused due to restrictions imposed on transportation during the pandemic, affecting the market negatively in 2020
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/rolling-stock-market-102990
Rise in Passenger Traffic to Drive the Market Growth
On the basis of type, the market is segmented into a wagons, passenger carriages, and locomotive.
The passenger carriages segment held a major share of the market in 2022. The segment is predicted to grow during the forecast period with a rapidly growing CAGR. This type includes electric multiple units, diesel multiple units, coaches, high-speed trains, and metro.
Positive Outlook of Freight Rail Transportation to Foster Market Growth
According to application, the market is bifurcated into freight and passenger.
Rail is the best option for freight transport due to its numerous benefits. It delivers a superior level of security and multimodal compatibility. The cost of transportation is subsequently lower compared to other modes of transport as rail fare is comparatively cheaper.
Geographically, the market is studied across North America, Europe, Asia Pacific, and the Rest of the World.
The report gives an insight into the major trends impelling industry expansion over the forthcoming years. It further provides an in-depth analysis of the key factors propelling the business landscape across various regions. Additional insights comprise the key steps taken by major industry participants to strengthen their market presence
Owing to Environmental Benefits, Asia Pacific to Hold Dominant Market Share
Asia Pacific holds a dominating position in the rolling stock market share. Various governments in this region are pushing for the electrification of trains due to their economic and environmental benefits.
China introduced a fully electrified bullet train in the remote Himalayan region of Tibet. This train reduces travel time by 1.5 hours. China’s five-year plan (2016-2020) has involved a huge target of high-speed rail connecting major cities in China.
Japan’s Shinkansen Bullet Train network expansion project is anticipated to support industry growth. The Shinkansen network includes the Hokkaido line from Aomori to Hakodate, with plans to extend Sapporo by 2030.
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List of Key Players Covered in Rolling Stock Market Report:-
- CRRC Corporation Limited (China)
- Alstom (France)
- Siemens Mobility (Germany)
- Hyundai Rotem Company (South Korea)
- GE Transportation (U.S.)
- Wabtec Corporation (U.S.)
- Hitachi Rail Limited (U.K.)
- CJSC Transmashholding (Russia)
- Stadler Rail (Switzerland)
- Kawasaki Railcar Manufacturing Co., Ltd. (Japan)
Rolling Stock Market Segmentation:-
- Passenger Carriages
Key Industry Development:
February 2023: Wabtec Corporation is working with Argonne National Laboratory and the U.S. Department of Energy’s Oak Ridge National Laboratory to produce a hybrid locomotive engine that can run on both hydrogen and diesel.
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Table of Content:-
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Mergers, Acquisitions and Partnerships
- Porters Five Forces Analysis
- Technological Developments
- Impact of Covid-19
- Global Rolling Stock Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Type
- Passenger Carriages
- Market Analysis, Insights and Forecast – By Application
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of the world
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- Rolling Stock Market
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