The railway rolling stock market size has grown strongly in recent years. It will grow from $50.35 billion in 2023 to $53.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to several factors include the rise in urbanization, escalating demand for efficient transportation solutions, expansion of railway networks, government initiatives and funding support, increasing requirements for freight transportation, and the burgeoning tourism sector.
The railway rolling stock market size is expected to see strong growth in the next few years. It will grow to $68.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to several factors include heightened investment in smart transportation systems, a stronger emphasis on sustainable and eco-friendly transportation solutions, the ongoing expansion of high-speed rail projects, increasing adoption of autonomous and digital technologies, rising demand for modernized and refurbished rolling stock, and the expanding urban population. Key trends expected during this period include greater integration of IoT and big data analytics in railway operations, a shift towards electric and hybrid locomotives, increased implementation of predictive maintenance technologies, expansion of autonomous and driverless train systems, and a heightened focus on enhancing passenger experience and amenities.
The increasing electrification of rail networks is expected to drive the expansion of the railway rolling stock market in the coming years. Electrification involves converting locomotives and railway lines to use electric power instead of diesel or other fuel sources. This shift is primarily driven by efforts to reduce greenhouse gas emissions and enhance operational efficiency. Railway rolling stock plays a critical role in this electrification process, as it incorporates electric traction systems and other necessary equipment to enable the transition to electric trains. For example, according to Eurostat, a Europe-based intergovernmental statistical organization, the number of electric-powered railcars in France increased to 7,113 in February 2024, up from 7,081 in 2021 and 6,908 in 2020. Similarly, Sweden saw its electric railcar count rise to 2,889 in 2022, marking a growth rate of 25.99% compared to 2,291 in 2021. These figures underscore the accelerating trend towards electrification across European rail networks. In conclusion, the ongoing electrification of rail networks is poised to significantly bolster the railway rolling stock market, driven by its environmental benefits and efficiency improvements in rail transportation systems.
Leading companies in the railway rolling stock market are increasingly focusing on advancing smart railways and digitalization technologies, including innovations such as smart train lease technology. This technology aims to streamline the leasing process and enhance the management of train assets through the integration of advanced IoT and data analytics capabilities. For example, in February 2024, Siemens Mobility GmbH, a prominent railway company based in Germany, introduced smart train lease technology tailored for rolling stock. This initiative utilizes cutting-edge technology to deliver optimized leasing solutions, with the goal of boosting operational efficiency, lowering costs, and improving asset management for rail operators. The smart train lease concept represents a significant advancement in rail leasing practices by leveraging state-of-the-art digital tools and analytics. These digital tools enable real-time monitoring and predictive maintenance, ensuring trains remain in optimal condition and minimizing downtime and maintenance expenses. This approach not only enhances operational reliability but also enhances the overall passenger experience by ensuring smoother and more efficient rail services.
In March 2024, Jupiter Wagons Limited, an Indian company specializing in rail wagons, passenger coaches, and railway components, completed the acquisition of Bonatrans India Pvt. Ltd. for ₹271 crore ($32.48 million). This strategic move is intended to bolster Jupiter Wagons' self-sufficiency and operational efficiency by gaining control over its own wheel manufacturing capabilities. The acquisition aims to reduce dependency on imports and strengthen Jupiter Wagons' market presence through Bonatrans India's established production capacity. Bonatrans India Pvt. Ltd., based in India, specializes in manufacturing railway rolling stock wheelsets and axles, aligning well with Jupiter Wagons' goal to enhance its product offerings and expand its footprint in the railway industry. This acquisition underscores Jupiter Wagons' commitment to strengthening its position in the market by integrating critical manufacturing capabilities locally.
Major companies operating in the railway rolling stock market are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, CRRC Corporation Limited, ABB Ltd., Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Bombardier Transportation, Tech Mahindra Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles SA, The Greenbrier Companies Inc, Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., CSR Corporation Limited, Vossloh AG, Amsted Rail Company Inc, Škoda Transportation as, PESA Bydgoszcz SA, Siemens Mobility GmbH, Nippon Sharyo Ltd, Patentes Talgo SL, Talgo SA, FreightCar America Inc.
Asia-Pacific was the largest region in the railway rolling stock market in 2023. The regions covered in the railway rolling stock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the railway rolling stock market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Railway rolling stock vehicles encompass all vehicles that operate on railways, encompassing both powered and unpowered units crucial for efficiently transporting passengers and goods within railway systems worldwide. These vehicles are diverse in design and purpose, serving to ensure passenger comfort and facilitate freight logistics across global railway networks.
The primary categories of railway rolling stock are categorized into Type I, Type II, Type III, and Type IV. Type I denotes a classification of rail rolling stock distinguished by specific technical attributes or operational criteria, recognized for their durability and reliability in rail operations. Various wheel types such as monoblock, resilient, rubber-tired, and steel-tired wheels, alongside axle types such as hollow and solid axles, are integral to these vehicles. They find application in diverse rail environments including high-speed trains, light rail vehicles, locomotives, metros, regional and commuter trains, as well as specialized vehicles tailored for specific purposes.
The railway rolling stock market research report is one of a series of new reports that provides railway rolling stock market statistics, including railway rolling stock industry global market size, regional shares, competitors with an railway rolling stock market share, detailed railway rolling stock market segments, market trends and opportunities, and any further data you may need to thrive in the railway rolling stock industry. This railway rolling stock market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The railway rolling stock market consists of sales of passenger coaches, freight wagons, multiple units (self-propelled trains), and specialized vehicles used in railway transportation. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The railway rolling stock market size is expected to see strong growth in the next few years. It will grow to $68.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to several factors include heightened investment in smart transportation systems, a stronger emphasis on sustainable and eco-friendly transportation solutions, the ongoing expansion of high-speed rail projects, increasing adoption of autonomous and digital technologies, rising demand for modernized and refurbished rolling stock, and the expanding urban population. Key trends expected during this period include greater integration of IoT and big data analytics in railway operations, a shift towards electric and hybrid locomotives, increased implementation of predictive maintenance technologies, expansion of autonomous and driverless train systems, and a heightened focus on enhancing passenger experience and amenities.
The increasing electrification of rail networks is expected to drive the expansion of the railway rolling stock market in the coming years. Electrification involves converting locomotives and railway lines to use electric power instead of diesel or other fuel sources. This shift is primarily driven by efforts to reduce greenhouse gas emissions and enhance operational efficiency. Railway rolling stock plays a critical role in this electrification process, as it incorporates electric traction systems and other necessary equipment to enable the transition to electric trains. For example, according to Eurostat, a Europe-based intergovernmental statistical organization, the number of electric-powered railcars in France increased to 7,113 in February 2024, up from 7,081 in 2021 and 6,908 in 2020. Similarly, Sweden saw its electric railcar count rise to 2,889 in 2022, marking a growth rate of 25.99% compared to 2,291 in 2021. These figures underscore the accelerating trend towards electrification across European rail networks. In conclusion, the ongoing electrification of rail networks is poised to significantly bolster the railway rolling stock market, driven by its environmental benefits and efficiency improvements in rail transportation systems.
Leading companies in the railway rolling stock market are increasingly focusing on advancing smart railways and digitalization technologies, including innovations such as smart train lease technology. This technology aims to streamline the leasing process and enhance the management of train assets through the integration of advanced IoT and data analytics capabilities. For example, in February 2024, Siemens Mobility GmbH, a prominent railway company based in Germany, introduced smart train lease technology tailored for rolling stock. This initiative utilizes cutting-edge technology to deliver optimized leasing solutions, with the goal of boosting operational efficiency, lowering costs, and improving asset management for rail operators. The smart train lease concept represents a significant advancement in rail leasing practices by leveraging state-of-the-art digital tools and analytics. These digital tools enable real-time monitoring and predictive maintenance, ensuring trains remain in optimal condition and minimizing downtime and maintenance expenses. This approach not only enhances operational reliability but also enhances the overall passenger experience by ensuring smoother and more efficient rail services.
In March 2024, Jupiter Wagons Limited, an Indian company specializing in rail wagons, passenger coaches, and railway components, completed the acquisition of Bonatrans India Pvt. Ltd. for ₹271 crore ($32.48 million). This strategic move is intended to bolster Jupiter Wagons' self-sufficiency and operational efficiency by gaining control over its own wheel manufacturing capabilities. The acquisition aims to reduce dependency on imports and strengthen Jupiter Wagons' market presence through Bonatrans India's established production capacity. Bonatrans India Pvt. Ltd., based in India, specializes in manufacturing railway rolling stock wheelsets and axles, aligning well with Jupiter Wagons' goal to enhance its product offerings and expand its footprint in the railway industry. This acquisition underscores Jupiter Wagons' commitment to strengthening its position in the market by integrating critical manufacturing capabilities locally.
Major companies operating in the railway rolling stock market are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, CRRC Corporation Limited, ABB Ltd., Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Bombardier Transportation, Tech Mahindra Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles SA, The Greenbrier Companies Inc, Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., CSR Corporation Limited, Vossloh AG, Amsted Rail Company Inc, Škoda Transportation as, PESA Bydgoszcz SA, Siemens Mobility GmbH, Nippon Sharyo Ltd, Patentes Talgo SL, Talgo SA, FreightCar America Inc.
Asia-Pacific was the largest region in the railway rolling stock market in 2023. The regions covered in the railway rolling stock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the railway rolling stock market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Railway rolling stock vehicles encompass all vehicles that operate on railways, encompassing both powered and unpowered units crucial for efficiently transporting passengers and goods within railway systems worldwide. These vehicles are diverse in design and purpose, serving to ensure passenger comfort and facilitate freight logistics across global railway networks.
The primary categories of railway rolling stock are categorized into Type I, Type II, Type III, and Type IV. Type I denotes a classification of rail rolling stock distinguished by specific technical attributes or operational criteria, recognized for their durability and reliability in rail operations. Various wheel types such as monoblock, resilient, rubber-tired, and steel-tired wheels, alongside axle types such as hollow and solid axles, are integral to these vehicles. They find application in diverse rail environments including high-speed trains, light rail vehicles, locomotives, metros, regional and commuter trains, as well as specialized vehicles tailored for specific purposes.
The railway rolling stock market research report is one of a series of new reports that provides railway rolling stock market statistics, including railway rolling stock industry global market size, regional shares, competitors with an railway rolling stock market share, detailed railway rolling stock market segments, market trends and opportunities, and any further data you may need to thrive in the railway rolling stock industry. This railway rolling stock market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The railway rolling stock market consists of sales of passenger coaches, freight wagons, multiple units (self-propelled trains), and specialized vehicles used in railway transportation. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Railway Rolling Stock Market Characteristics3. Railway Rolling Stock Market Trends and Strategies32. Global Railway Rolling Stock Market Competitive Benchmarking33. Global Railway Rolling Stock Market Competitive Dashboard34. Key Mergers and Acquisitions in the Railway Rolling Stock Market
4. Railway Rolling Stock Market - Macro Economic Scenario
5. Global Railway Rolling Stock Market Size and Growth
6. Railway Rolling Stock Market Segmentation
7. Railway Rolling Stock Market Regional and Country Analysis
8. Asia-Pacific Railway Rolling Stock Market
9. China Railway Rolling Stock Market
10. India Railway Rolling Stock Market
11. Japan Railway Rolling Stock Market
12. Australia Railway Rolling Stock Market
13. Indonesia Railway Rolling Stock Market
14. South Korea Railway Rolling Stock Market
15. Western Europe Railway Rolling Stock Market
16. UK Railway Rolling Stock Market
17. Germany Railway Rolling Stock Market
18. France Railway Rolling Stock Market
19. Italy Railway Rolling Stock Market
20. Spain Railway Rolling Stock Market
21. Eastern Europe Railway Rolling Stock Market
22. Russia Railway Rolling Stock Market
23. North America Railway Rolling Stock Market
24. USA Railway Rolling Stock Market
25. Canada Railway Rolling Stock Market
26. South America Railway Rolling Stock Market
27. Brazil Railway Rolling Stock Market
28. Middle East Railway Rolling Stock Market
29. Africa Railway Rolling Stock Market
30. Railway Rolling Stock Market Competitive Landscape and Company Profiles
31. Railway Rolling Stock Market Other Major and Innovative Companies
35. Railway Rolling Stock Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Railway Rolling Stock Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on railway rolling stock market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for railway rolling stock? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The railway rolling stock market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Type I; Type II; Type III; Type IV2) By Wheel Type: Monoblock Wheels; Resilient Wheels; Rubber Tired Wheels; Steel Tired Wheels; Other Special Wheels
3) By Axle Type: Hollow Axles; Solid Axles
4) By Application: High Speed Trains; Light Rail Vehicles; Locomotives; Metros; Regional And Commuter Trains; Special Purpose Vehicles
Key Companies Mentioned: Hitachi Ltd; General Electric Company; Mitsubishi Electric Corporation; CRRC Corporation Limited; ABB Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Hitachi Ltd
- General Electric Company
- Mitsubishi Electric Corporation
- CRRC Corporation Limited
- ABB Ltd.
- Alstom S.A.
- Thales Group
- Kawasaki Heavy Industries Ltd
- Wabtec Corporation
- Knorr-Bremse AG
- Bombardier Transportation
- Tech Mahindra Ltd.
- Toshiba Infrastructure Systems & Solutions Corporation
- Stadler Rail AG
- Construcciones y Auxiliar de Ferrocarriles SA
- The Greenbrier Companies Inc
- Hyundai Rotem Company
- SYSTRA Group
- Trinity Industries Inc.
- CSR Corporation Limited
- Vossloh AG
- Amsted Rail Company Inc
- Škoda Transportation as
- PESA Bydgoszcz SA
- Siemens Mobility GmbH
- Nippon Sharyo Ltd
- Patentes Talgo SL
- Talgo SA
- FreightCar America Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | August 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 53.46 Billion |
| Forecasted Market Value ( USD | $ 68.22 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 29 |
