The global rolling stock market is anticipated to grow at a CAGR of4.1% 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. For instance,
In April 2024, the Ministry of Transport and Communications of the Republic of Bulgaria has ordered seven zero-emission KISS double-decker trains from Stadler. The contract also includes comprehensive maintenance services for 15 years and specialized training for the operator’s personnel.
Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/rolling-stock-market
In April 2022, ABB won $170.0 million in orders to enhance Europe’s railway network.ABB packages will include highly efficient traction converters and motors for new rolling stock. They will be used in different European railway networks to modernize and reinforce train transportation in countries such as Spain, Portugal, UK, Germany, and Austria, as well as in some European railway corridors.
In March 2024, Alstom plans to operate its passenger train service in the UK for the first time. Alstom is partnering with SLC Rail to form a new open-access rail operation between North Wales, Shropshire, the Midlands, and London. Competition delivers choice for passengers and drives up standards.
In March 2024, the French rolling stock manufacturer will supply an additional 103 trains for the metro as it replaces older rolling stock on its network.France with an additional €800.0 million ($865.6 million) order for 103 new MF19 trains for the region.
In January 2024, three more of the 17 Hyundai Rotemlocomotives arrived in Tanzania’s capital Dar-es-Salaam. They will now be tested by the Tanzania Railway Corporation (TRC) before being put to use on the country’s new East-West line.Four Hyundai Rotem locomotives have now been delivered to Tanzania till date, along with 56 of 59 passenger cars built by Sung Shin Rolling Stock Technology (SSRST) in South Korea.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Source
o By Applications
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- CRRC Corporation Ltd, Siemens Mobility, Hitachi Rail Ltd., Stadler Rail AG, CAF (Construcciones y Auxiliar de Ferrocarriles), and others.
Key questions addressed by the report.
Global Rolling Stock Market Report Segment
By Type
By Source
By Applications
Global Rolling Stock Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
The rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/rolling-stock-market