The new report by Expert Market Research titled, ‘Global Rolling Stock Market Growth, Size, Demand, Report and Forecast 2022-2027’, gives an in-depth analysis of the global rolling stock market, assessing the market based on its segments like type, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Rolling Stock Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
Historical Market Value (2021): USD 59.2 Billion
Forecast CAGR (2022-2027): 3.8%
Forecast Market Value (2027): USD 74 Billion
The rolling stock business is benefiting from the growing preference for rail travel due to its energy efficiency and cost-effectiveness. The demand for rail travel is increasing as a result of increased population in emerging nations due to rapid urbanisation. The growth of low-cost rail transit is driving up demand for rolling stock. Furthermore, the increasing electrification of rails in North America and Europe is accelerating the deployment of rolling stock, boosting the market’s growth.
Artificial intelligence (AI) is being integrated into rolling stocks to automate a variety of tasks, including maintenance, resulting in increased industry growth. It has become more common in resource planning and management to ensure that rolling stock and railway rails are utilised effectively and safely.
Artificial intelligence (AI) is also gaining traction in a number of rail applications, including train scheduling, asset management, and automated operation systems, to name a few.
As a result, more AI use is expected to promote rolling stock efficiency and propel the rolling stock sector forward during the forecast period.
Rolling Stock Industry Definition and Major Segments
Wheeled carriages and engines used on railroad lines are referred to as rolling stock. For both products and passengers, it provides a dependable and safe form of transportation. Because rolling stocks are energy-efficient, cost-effective, and long-lasting, they are becoming a more popular means of transport.
Based on types, the market covers:
1.2 Diesel locomotives
1.3 Electric locomotives
1.4 Electro-Diesel locomotives.
1.8 Freight Wagons
1.9 Passenger coaches
Based on end use, the market is divided into:
2.1 Passenger Transit
2.2 Cargo Train
The major regional markets include:
3.1 North America
3.4 Latin America
3.5 Middle East and Africa
Rolling Stock Market Trends
The market’s growth is being aided by the increased need for alternative fuels to power rolling stock. This is driving up demand for biofuels like bioethanol and biodiesel, among others, to improve rolling stock fuel efficiency.
Furthermore, the increased demand for green rolling stock, particularly in Europe, has resulted in a slew of research and development (R&D) projects aimed at boosting the usage of sustainable energy.
For example, the UK government declared in June 2021 that it will fund a dual-fuel solution to achieve its net-zero carbon economy ambitions by 2050.
The market is developing due to rising demand for advanced hydrogen trains.
That use hydrogen fuel to provide an energy-efficient and cost-effective alternative to traditional rolling stock. Governments are enacting more rigorous restrictions to encourage the deployment of hydrogen trains in order to reduce greenhouse gas emissions.
China, for example, debuted its hydrogen fuel cell hybrid locomotive in Changzhou in June 2021, with a power output of 1,400 kilowatts and a top speed of 100 km/h.
Opportunity: Enormous information applications in rail industry
Travelers are progressively looking for improved travel insight, which incorporates installed web and diversion, shrewd tagging, mechanized admission assortment, and house-to house administrations.
Players in the vehicle business are at present investigating ways of utilizing huge information recovered. From travelers’ brilliant gadgets to possibly further develop plans of action of metropolitan rail organizations and the nature of administrations.
The significant target of utilizing enormous information and large information.
Examination is to make continuous prescient calculations, adaptable information structures, empower, huge information interchanges, and the utilization of representation strategies.
The use of enormous information investigation can assist with grasping functional And specialization. Authoritative issues connected with railroad transportation and its monetary impacts.
Enormous information investigation gives data about the Traffic, The Executives Framework (TMS), TMS, independent direction, staying helpful life, support-related assistance, and energy assets. It likewise permits rail administrators to foresee ridership rates and improve their item contributions. Enormous information empowers a superior comprehension of the condition and the prescient way of behaving of a moving stock.
Consequently, shrewd rail frameworks and large information can work on the dependability of the rail lines, limit chances, lessen support expenses, and make the rail line area more secure.
For instance, in 2020, the Indian Rail lines declared the transformation of rail yards into brilliant yards by utilizing trend-setting innovations and social event data about moving stock circumstances with the utilization of ICT frameworks, sensors, and information examination. This is supposed to empower recognizing deserts in wheels, brakes, heading, axles, and others for rail support and diminish completion time and increment security.
Key Market Players
The major players in the market are Alstom, Bombardier Transportation, CRRC Corporation Limited, Hitachi Ltd, Hyundai Corporation, among others.
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