Rolling Stock Market
Rolling Stock Market Size, Share & Trends Analysis Report by Type (Locomotive, Rapid Transit Vehicle, Wagon), by Source (Diesel, Electric), and by Applications (Rail Fright, Passenger Rail) Forecast Period (2024-2031)
Rolling stock market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period (2024-2031). The market growth is driven by the increase in allocation of the budget for development of the railways sector, rise in demand for secure, safer, & efficient transport, and increase in use of public transport services. Additionally, increase in development & testing of autonomous train, improvement in railway infrastructure and rise in industrial & mining activity are contributing significantly towards market growth. Also, the rolling stock manufacturers have been working for technological advancement and innovations. The governments are contributing significantly towards market growth.
Market Dynamics
Increase in Railway budget
The Indian government has allocated a significant budget for railway development in the fiscal year 2024-25. The interim budget for 2024-25 hasRs2.5lakh crore ($30.0 billion)for Indian Railway development. The budget focuses on the implementation of three major economic railway corridor programs aimed at enhancing logistics efficiency and reducing costs. Similarly, a New Railway Operating Plan in China has been implemented from January 2024 for 22,264 Freight trains. South Korea has approved an investment of $100.0 billion over the next 10 years to expand the rail network. This plan aims to increase the capacity of the rail network by 125.0%.
Rise in demand for secure, safer, and efficient transport system
An increasing need for solutions to minimize traffic congestion, which is being addressed through the use of public transport services is driving the rolling stock market. Rolling is much safer and more secure transportation for any kind of goods transportation is getting inexpensive and the quantity of the goods is more as compared to road and air transportation.
High capital requirement
Rolling stock and supporting infrastructure is highly capital-intensive and necessitates significant financial support from local governments. For instance, the average cost of a diesel locomotive is around $500,000-$2.0 million.Also, rolling stock needs to periodically maintain electrical, mechanical, and hydraulic components of the vehicle, that further adds up to the cost.
Market segmentation
Our in-depth analysis of the Rolling Stockmarket includes the following segments by Type, Type, and Train type.
- Based on type the market is segmented into locomotive, rapid transit vehicle, wagon
- Based on source the market is segmented into diesel, electric
- Based on applications market is segment into rail freight, passenger rail
Absence of Modern HRM
The current HR management framework within the organization relies on traditional methods overseen by the personnel department, lacking modern HRM practices. Challenges include limitations in data collection due to technological constraints, a shortage of HRM experts, and the absence of formal HRM policies and comprehensive training programs. However, opportunities exist to establish a dedicated HRM department, invest in technological infrastructure, recruit and develop HRM experts, formulate HRM policies, enhance training facilities and policies, and optimize the utilization of training institutes.
Inventory Control
Railway materials are specialized in nature, 80% of materials are importable, and bulk quantity is procured, and that is why the mode of transport isthe sea, which is the shower. So, lead time is greater causing greater stock. Underutilization of the BRASS program. Want of skilled and trained person in the inventory department.Less coordination among store depots, inventory control cells, and works shop.
Regional Outlook
Rolling stock market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Rolling Stock Market Growth by Region 2024-2031
Asia-Pacific Holds Major Market Share
The increasing investments by emerging economies such as China and Taiwan in railway infrastructure to improve transportation is a key contributor to the high share of the regional market. Manufacturers in the region are backing government efforts to upgrade transportation systems. Regional governments are also introducing trams and electric trains on a large scale due to increased demand, which helps them make the most of their existing railway networks. For instance, in February 2024, Indian Prime Minister flag off the first electric train in Kashmir and inaugurate the 48-km rail link from Banihal to Sangaldan (a town near district headquarter of Ramban) section in the Valley.
Major Player outlook
*Note: Major Players Sorted in No Particular Order
The major companies serving in the global rolling stock market include CRRC Corporation Limited, Siemens Mobility, HitachiRail Ltd., Stadler Rail AG, CAF (Construcciones y Auxiliar de Ferrocarriles), Nippon Sharyo, Ltd., and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in April 2024, Alstom partnered with TågiBergslagen (TiB) in Sweden to explore and develop new technologies to transform the railway industry. This is a pioneering initiative in Europe.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rolling stock market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Alstom Transport SA
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. CRRC Corporation Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Hyundai Corporation
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Rolling Stock Market by Type
4.1.1. Locomotive
4.1.2. Rapid Transit Vehicle
4.1.3. Wagon
4.2. Rolling Stock Market by Source
4.2.1. Diesel
4.2.2. Electric
4.3. Rolling Stock Market by Applications
4.3.1. Rail Freight
4.3.2. Passenger Rail
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East & Africa
6. Company Profiles
6.1. Bombardier Aerospace México, SA de CV
6.2. CAF (Construcciones y Auxiliar de Ferrocarriles, S.A.)
6.3. Chittaranjan Locomotive Works
6.4. GE Transportation
6.5. Hitachi Rail Ltd.
6.6. IHI Corporation
6.7. Kawasaki Heavy Industries
6.8. MAPNA Group (Wagon Pars Co.)
6.9. Nippon Sharyo, Ltd.
6.10. PESA Group
6.11. PPF Group N.V.
6.12. Progress Rail
6.13. Siemens Mobility
6.14. Stadler Rail AG
6.15. TALGO S.L.U.
6.16. Tatravagonka a.s. Poprad
6.17. The Greenbrier Companies
6.18. Trinity Industries Inc.
1. GLOBAL ROLLING STOCK MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL LOCOMOTIVE ROLLING STOCK MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL RAPID TRANSIT VEHICLE ROLLING STOCK SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL WAGON ROLLING STOCKS RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL ROLLING STOCK MARKET RESEARCH AND ANALYSIS BY SOURCE, 2023-2031 ($ MILLION)
6. GLOBAL DIESEL ROLLING STOCK MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL ELECTRIC ROLLING STOCK MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2023-2031 ($ MILLION)
9. GLOBAL RAIL FREIGHT ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL PASSENGER RAIL ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. NORTH AMERICAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
13. NORTH AMERICAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
14. NORTH AMERICAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY SOURCE, 2023-2031 ($ MILLION)
15. NORTH AMERICAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
16. EUROPEAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
17. EUROPEAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
18. EUROPEAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY SOURCE, 2023-2031 ($ MILLION)
19. EUROPEAN ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2023-2031 ($ MILLION)
20. ASIA-PACIFIC ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
21. ASIA-PACIFIC ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
22. ASIA-PACIFIC ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY SOURCE, 2023-2031 ($ MILLION)
23. ASIA-PACIFIC ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2023-2031 ($ MILLION)
24. REST OF THE WORLD ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
25. REST OF THE WORLD ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
26. REST OF THE WORLD ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY SOURCE, 2023-2031 ($ MILLION)
27. REST OF THE WORLD ROLLING STOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2023-2031 ($ MILLION)
1. GLOBAL ROLLING STOCKS MARKET SHARE BY TYPE, 2023 VS 2031 (%)
2. GLOBAL LOCOMOTIVE ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL RAPID TRANSIT VEHICLE ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL WAGON IN ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL ROLLING STOCKS MARKET SHARE BY SOURCE, 2023 VS 2031 (%)
6. GLOBAL DIESEL ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL ELECTRIC ROLLING STOCKS BY AIR MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL ROLLING STOCKS MARKET SHARE BY APPLICATIONS, 2023 VS 2031 (%)
9. GLOBAL RAIL FREIGHT ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL PASSENGER RAIL ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL ROLLING STOCKS MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. US ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
13. CANADA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
14. UK ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
15. FRANCE ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
16. GERMANY ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
17. ITALY ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
18. SPAIN ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
19. REST OF EUROPE ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
20. INDIA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
21. CHINA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
22. JAPAN ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
23. SOUTH KOREA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
24. REST OF ASIA-PACIFIC ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
25. LATIN AMERICA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
26. MIDDLE EAST AND AFRICA ROLLING STOCKS MARKET SIZE, 2023-2031 ($ MILLION)
