According to the new research report titled “Europe Rolling Stock Freight Wagons Market Forecast to 2028 - COVID-19 Impact and Analysis,”, the market is expected to reach US$ 4,958.53 million by 2028, registering a CAGR of 5.5% from 2021 to 2028.
The rising adoption of rail freight transport by various industries is boosting the growth of the rolling stock freight wagons market in Europe. Rail freight transport is increasingly being seen as a viable and secure alternative to road freight transport, which is becoming increasingly costly and hampered by traffic jams. Rail is increasingly attracting shippers due to its performance, reliability, and new transportation concepts. One of the main benefits of rail freight is that only a few individuals are responsible for moving vast quantities of goods. For 40 to 60 trucks, only one locomotive driver is needed. With just a few individuals, large quantities of goods can be transported from point A to point B. Hence, shippers save a lot of money. The freight trains have ample freight capacity, and operating frequencies can be increased, if necessary. There are plenty of locomotives, staff, and wagons available. The terminal capacity is adequate. Additionally, RailGood's rail freight carriers, intermodal providers, and rail freight forwarders are ready to provide customers with appropriate transportation and logistics solutions. This is influencing the adoption of railways for the transportation of goods among several industries. For instance, Procter and Gamble (P&G) utilizes extensive railway services to distribute its products and procure raw material for its production across Europe. Thus, the high adoption of rail freight services by industries is influencing the growth the rolling stock freight wagon market across the region.
In the first half of 2021, European railway networks seem to be facing financial difficulties. The year began ominously, with COVID-related losses for passenger and freight services, obliterating any hope for recovery in the months ahead. In comparison to passenger traffic, rail freight had a relatively minor effect. According to the Community of European Railway (CER), freight operators lost between 3% and 32% of their revenue in 2020. However, during the COVID-19 pandemic, rail freight transportation proved to be resilient. Though planes were grounded around the world and some container ships were refused entry to ports, trains continued to run almost nonstop from China to Europe, carrying essential supplies at times. According to rail freight organizers, in the first half of 2020, 5,122 trains ran on the Silk Road linking China and the West. Rail freight, which is normally limited by price and delivery times, has become more flexible during the pandemic after governments in the Netherlands and France reduced track access tariffs.
Additionally, owing to the negative impact on other rail freight routes, the European governments announced relief aid schemes for freight wagon transport operators. For instance, Germany's single-wagon rail freight transport companies will be eligible for up to EUR 600 million in government funding. The scheme was authorized by the European Commission under EU State aid law. The scheme, which will run until November 30, 2025, will allow for the “modal shift” of freight traffic from road to rail, lowering the cost of single-wagon rail freight transport.
The outbreak of the COVID-19 and the travel restrictions imposed across Europe impacted the manufacturing of freight wagons, owing to supply chain disruption. However, the growing reliability on rail freight transport between countries such as China and Europe created the demand for Freight wagons. The above-mentioned government schemes to aid the COVID-19 impacted sectors, including rail freight transport, are expected to enhance the market growth in the near future
Key Findings of Study:
The Europe rolling stock freight wagons market is segmented on the bases of type, material, and country. Based on type, the market is segmented into covered wagons, flat wagons, tank wagons, open-top wagons, hopper wagons, and special wagons. The hopper wagons segment held the largest market share in 2020. Based on material, the rolling stock freight wagons market in Europe is segmented into steel, cast iron, and alloys. The alloys segment is projected to register the highest CAGR during the forecast period. By country, the market is broadly segmented into Germany, France, Italy, the UK, Russia, Switzerland, Sweden, Poland, Norway, and Rest of Europe. In 2020, Russia accounted for the significant share in the Europe market.
Several players operating in the Europe rolling stock freight wagons market adopt significant strategic initiatives. For instance, in March 2019, CRRC Yangtze entered into an agreement with Aurizon, which is an Australian railway logistics company, for supplying 264 narrow gauge coal hopper wagons.
In the first half of 2021, European railway networks seem to be facing financial difficulties. The year began ominously, with COVID-related losses for passenger and freight services, obliterating any hope for recovery in the months ahead. In comparison to passenger traffic, rail freight had a relatively minor effect. According to the Community of European Railway (CER), freight operators lost between 3% and 32% of their revenue in 2020. However, during the COVID-19 pandemic, rail freight transportation proved to be resilient. Though planes were grounded around the world and some container ships were refused entry to ports, trains continued to run almost nonstop from China to Europe, carrying essential supplies at times. According to rail freight organizers, in the first half of 2020, 5,122 trains ran on the Silk Road linking China and the West. Rail freight, which is normally limited by price and delivery times, has become more flexible during the pandemic after governments in the Netherlands and France reduced track access tariffs.
Additionally, owing to the negative impact on other rail freight routes, the European governments announced relief aid schemes for freight wagon transport operators. For instance, Germany's single-wagon rail freight transport companies will be eligible for up to EUR 600 million in government funding. The scheme was authorized by the European Commission under EU State aid law. The scheme, which will run until November 30, 2025, will allow for the “modal shift” of freight traffic from road to rail, lowering the cost of single-wagon rail freight transport.
The outbreak of the COVID-19 and the travel restrictions imposed across Europe impacted the manufacturing of freight wagons, owing to supply chain disruption. However, the growing reliability on rail freight transport between countries such as China and Europe created the demand for Freight wagons. The above-mentioned government schemes to aid the COVID-19 impacted sectors, including rail freight transport, are expected to enhance the market growth in the near future
Key Findings of Study:
The Europe rolling stock freight wagons market is segmented on the bases of type, material, and country. Based on type, the market is segmented into covered wagons, flat wagons, tank wagons, open-top wagons, hopper wagons, and special wagons. The hopper wagons segment held the largest market share in 2020. Based on material, the rolling stock freight wagons market in Europe is segmented into steel, cast iron, and alloys. The alloys segment is projected to register the highest CAGR during the forecast period. By country, the market is broadly segmented into Germany, France, Italy, the UK, Russia, Switzerland, Sweden, Poland, Norway, and Rest of Europe. In 2020, Russia accounted for the significant share in the Europe market.
Several players operating in the Europe rolling stock freight wagons market adopt significant strategic initiatives. For instance, in March 2019, CRRC Yangtze entered into an agreement with Aurizon, which is an Australian railway logistics company, for supplying 264 narrow gauge coal hopper wagons.
Table of Contents
1. Introduction
3. Research Methodology
4. Europe Rolling Stock Freight Wagons Market Landscape
5. Europe Rolling Stock Freight Wagons - Market Dynamics
6. Rolling Stock Freight Wagons Market - Europe Analysis
7. Europe Rolling Stock Freight Wagons Market Analysis- By Type
8. Rolling Stock Freight Wagon Market Analysis - By Material
9. Europe Rolling Stock Freight Wagons Market - Country Analysis
10. Rolling Stock Freight Wagons Market- COVID-19 Impact Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
- Altaivagon Joint-Stock Company
- CRRC Corporation Limited
- ELH Waggonbau Niesky GmbH
- NIK KIOLEIDES SA
- NYMWAG CS a.s.
- Rail Cargo Group
- RM Rail
- REWAG
- S.C. AstraRail Industries S.A.
- Skinest Grupp AS
- Tatravagónka a.s. Poprad
- TMH International AG
- UWC RPC PJSC
- Uralvagonzavod
- VTG Aktiengesellschaft
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 161 |
| Published | May 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 3413.09 Million |
| Forecasted Market Value ( USD | $ 4958.53 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 15 |
