According to a report by Grand View Research, Inc., global rolling stock market is anticipated to value USD 75.12 billion by 2025. Growing requirement for fast and comfortable mode of transportation to transfer heavy goods or passengers is anticipated to propel demand for rolling stock. Rolling stock is likely to offer reliability, comfort, and cost-effectiveness to increasing number of travelers in urban areas.
Growing preference for high-speed trains over conventional slow trains is anticipated to influence growth of market. Increasing investments from local governments in commuter trains and tramways to enhance adoption of passenger trains can stimulate market growth. Continual expansion of rail infrastructure attributed to rapid urbanization and growing population can augment growth of market. Increasing use of light-weight components in rail vehicles to enhance reliability and fuel efficiency in rail vehicles can fuel growth of market. Rising preference for rail transportation over road transportation owing to resistance against changing weathers and reduced traffic can spur market growth during the forecast period (2014 to 2025).
Full Research Report On Rolling Stock Market Analysis: https://www.grandviewresearch.com/industry-analysis/rolling-stock-market
The rolling stock market can be segregated on the basis of product, stock type, train type, and region. Based on product, the market can be categorized into rapid transit vehicle, locomotive, and wagon. Rapid transit vehicle segment is predicted to account for substantial growth during the forecast period attributed to comfort and high-speed offered by vehicles. In addition, high demand for magnetic levitation and automated trains for public transportation can impel growth of market during the forecast period.
Based on type, the market can be bifurcated into electric and diesel. Diesel vehicles are most likely to be used for transportation of heavy goods in most regions. Such vehicles can be used in numerous sectors such as mining, oil & gas, and manufacturing for transportation of goods attributed to their features such as high-torque engines and cost-effectiveness. Manufacturers Transport are likely to design turbocharged diesel vehicles to cater to rising demand for advanced rail vehicles.
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Similarly, electric vehicles segment is anticipated to witness significant growth during the forecast period owing to benefits such as enhanced efficiency of vehicles and reduced pollution. Electric trains are likely to be eco-friendly and emit 20-30% less carbon monoxide as compared to diesel trains. In addition, rising concern regarding environmental pollution is predicted to fuel demand for electric vehicles for transportation.
Based on train type, the market can be divided into passenger rail and rail freight. In 2016, rail freight segment dominated the market and accounted for largest market share. These trains can be used for transportation of goods and are likely to be the part of logistics chain. In addition, these trains are likely to offer multiple applications such as oil & gas, automotive, and construction industries. Integration of intelligent systems and implementation of tracking systems can improve quality of these trains.
Similarly, passenger rails segment is likely to contribute well for market revenue owing to its cost-effectiveness. Metros, high-speed trains, and trams are likely to be preferred passenger rails attributed to fast transportation service.
Regional segmentation includes Europe, North America, Asia Pacific, South America, and Middle East & Africa (MEA). In Asia Pacific, the market is expected to dominate the market and account for largest market share during the forecast period. Growing adoption of rail vehicles for transporting goods and passengers can influence growth. In addition, rising investments in electric trains and metro in countries such as India, China, and Taiwan can also augment growth of market in this region.
In MEA, the market is expected to grow at fast rate during the forecast period attributed to increasing application of rolling stock in oil & gas and mining sector for transportation of goods. In addition, growing use of rolling stock for producing oil can also stimulate growth of market. In oil & gas sector, rolling stock is likely to be used for transporting oil from one place to another using tank wagons owing to high torque power and enhanced safety.
Some of the leading companies offering rolling stock are Siemens Mobility, CRRC Corporation Limited, Bombardier Transportation, Alstom Transport, and GE Transportation. This market is expected to be consolidated owing to increasing number of mergers and acquisitions. Most companies are likely to adopt advanced manufacturing techniques and innovative ideas for enhancing their product portfolio.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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