Railway Rolling Stock Market Size, Share Report, Scope And Forecast 2024-2033

Overview and Scope

Railway rolling stock vehicles refer to all the vehicles that move on a railway, including both powered and unpowered vehicles and are essential for transporting passengers and goods efficiently within railway systems. These vehicles vary in design and function to cater to both passenger comfort and freight logistics across global railway networks.

Sizing and Forecast

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 in the historic period can be attributed to increasing urbanization, growing demand for efficient transportation, the expansion of railway networks, government initiatives and funding, increasing freight transportation needs, and the and the growing 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 growth in the forecast period can be attributed to increasing investment in smart transportation systems, a growing focus on sustainable and green transportation solutions, the expansion of high-speed rail projects, the rising adoption of autonomous and digital technologies, increasing demand for modernized and refurbished rolling stock, and a and a growing urban population. Major trends in the forecast period include increasing integration of IoT and big data analytics, a growing shift towards electric and hybrid locomotives, rising use of predictive maintenance technologies, the expansion of autonomous and driverless train systems, and an and an increasing focus on passenger experience and amenities.

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Segmentation & Regional Insights

The railway rolling stock market covered in this report is segmented –

1) By Type: Type I, Type II, Type III, Type IV

2) 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

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.

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Major Driver Impacting Market Growth

The growing electrification of rail networks is expected to propel the growth of the railway rolling stock market going forward. The electrification of rail networks is the process of converting locomotives and railway lines to use electric power instead of diesel or other fuel sources. There is growing electrification of rail networks, primarily to reduce greenhouse gas emissions and improve operational efficiency. Railway rolling stock is used in the electrification of rail networks to facilitate the transition to electric trains by incorporating electric traction systems and other necessary equipment. For instance, in February 2024, according to Eurostat, a Europe-based intergovernmental statistical organization, the quantity of railcars powered by electricity in France rose to 7113, marking an increase from 7081 in 2021 and 6908 in 2020. Similarly, in Sweden, the number increased to 2889 in 2022, reflecting a growth rate of 25.99% compared to 2291 in 2021. Therefore, the growing electrification of rail networks will drive the growth of the railway rolling stock market.

Key Industry Players

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

The railway rolling stock market report table of contents includes:

1. Executive Summary

2. Railway Rolling Stock Market Characteristics

3. Railway Rolling Stock Market Trends And Strategies

4. Railway Rolling Stock Market - Macro Economic Scenario

5. Global Railway Rolling Stock Market Size and Growth

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33. Global Railway Rolling Stock Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Railway Rolling Stock Market

35. Railway Rolling Stock Market Future Outlook and Potential Analysis

36. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Railway Rolling Stock Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Railway Rolling Stock Market, Segmentation By Wheel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Railway Rolling Stock Market, Segmentation By Axle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 75: Hitachi Ltd Financial Performance

Table 76: General Electric Company Financial Performance

Table 77: Mitsubishi Electric Corporation Financial Performance

Table 78: CRRC Corporation Limited Financial Performance

Table 79: ABB Ltd. Financial Performance

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