China’s export in railway sector is over $10 billion. China is already working on “Make in China 2025” strategy to transform manufacturing industries, railway equipment is identified as a key area.
In last 15 years, investment in high-speed railways (HSR) has been an area of special focus of the Chinese government. Starting at a non-existent high-speed railway network 15 years ago, China today has a high-speed railway network exceeding 15,000kms. The network covers 90 cities and since 2010, China has been spending about $100 billion a year on rail developments. China’s Ministry of Railways is the main purchaser of industry products, which are largely supplied by state-owned operator, CRRC Corporation Limited. The dominance of the company makes this industry a virtual duopoly; together, it accounts for about 70% of total industry revenue.
Region-wise, Europe and Asia Pacific are the leading regions in terms of manufacturing of railroad equipment. This growth is mainly due to effective policies and large-scale investment by leading companies and governments. Brazil, China, and India have been identified as emerging markets in the Asia Pacific region.
This report focuses on the Railway Equipment in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
The demand for freight rolling stock is significantly high in the global railroad equipment manufacturing market. This demand is basically due to the hike in the prices of fuel across the globe at it acts as the key source behind the working of the transportation industry. This has shifted the trend of freight transport to rails from trucks.
Companies operating in the railroad equipment manufacturing industry are involved in the manufacturing of brakes, locomotives, passenger rail cars and freight, and other parts used in operating railroads. The transport equipment manufacturing industry has become the pivot for economic developments across several countries worldwide. The demand for these Equipment has intensified owing to the rising volume of transported products and the expansion of the distance covered by logistics vehicles. This trend is expected to gain traction over the coming years.
Market Segment by Manufacturers, this report covers
- General Electric
- Hyundai Rotem
Market Segment by Regions, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Rolling Stock
- Railway Infrastructure
Market Segment by Applications, can be divided into
- Freight Vehicles
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