According to the latest report by IMARC Group, titled “Rolling Stock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 53.4 Billion in 2018. Rolling stock refers to the wheeled vehicles which run on railway tracks. They can be both powered and unpowered and include coaches, passenger cars and freight wagons. They are considered one of the ideal and cost-effective modes of daily conveyance for commuters and transporting heavy goods, such as bulky machinery and construction materials over long distances. As a result, they are extensively utilized across diverse industrial verticals, such as oil and gas, and automotive, to transport a wide range of goods, including raw materials and industrial chemicals.
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/rolling-stock-market/requestsample
Global Rolling Stock Market Trends:
Rapid urbanization and increasing working population have resulted in significant developments in the public transportation infrastructure, including railways. This has consequently increased the demand for daily transportation modes such as trams, metro and local passenger trains, which is driving the market growth. Moreover, since railways are one of the most efficient ways of transporting goods across numerous industries, the thriving industrial sector is providing an impetus to the market growth. The manufacturers are introducing lightweight vehicles, which are anticipated not only to improve fuel efficiency but also ensure faster travel. Furthermore, governments of numerous countries are implementing stringent regulations to replace aging locomotives with new variants having enhanced features and greater efficiency. Other factors contributing to the market growth include increased research and development (R&D) activities, along with the adoption of advanced technologies, such as the application of the internet of things (IoT) for diagnosing engine issues and monitoring and tracking cargo loads. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 65.3 Billion by 2024, registering a CAGR of around 3% during 2019-2024.
Browse related reports
Asia Pacific Cold Chain Market Report and Forecast 2019-2024: https://www.imarcgroup.com/asia-pacific-cold-chain-market
Global Logistics Market Research Report and Forecast 2019-2024: https://www.imarcgroup.com/logistics-market
- On the basis of the product type, the market has been divided into diesel, electric and other locomotives. Among these, diesel locomotives represent the most preferred product type.
- Based on the locomotive technology, turbocharge locomotives exhibit a clear dominance in the market. Other major segments include conventional locomotive and maglev.
- Based on the application, passenger coaches account for the majority of the total market share, followed by freight wagons.
- Region-wise, Asia Pacific holds the dominant share in the market. Other key regions include Europe, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/rolling-stock-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.