Train, Subway & Transit Car Manufacturing in the US - Industry Market Research Report

Rolling along: Government regulations are expected to encourage industry demand

Train, subway and transit car manufacturers have contended with difficult times in recent years. The outbreak of COVID-19 brought the whole economy to a halt, including travel and freight transportation. This resulted in a period of low demand, as railcars weren't needed. This also meant that there was little wear put on the existing railcars, reducing the need for maintenance and replacement even as the economy reopened. Government assistance has helped jumpstart the industry recently, enabling manufacturers to expand. Overall, industry revenue has been falling at a CAGR of 7.1% to $10.6 billion over the past five years, despite an anticipated increase of 0.5% in 2023 alone.

Companies within this industry manufacture or rebuild locomotives and parts, railroad cars and streetcars, along with railway track maintenance equipment. Specific products include industrial, mining and railroad locomotives; railroad, light-rail, subway and transit cars; railroad rolling stock; and railroad equipment. This industry does not manufacture locomotive engines, which are accounted for in the Engine and Turbine Manufacturing industry (IBISWorld report 33361a).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.