Rolling Stocks Market was estimated to be worth US$ 53.31 MN in 2022 and is anticipated to grow at a CAGR of 3.9% to reach US$ 76.13 MN by 2032.
| Report Attribute | Details |
|---|---|
| Rolling Stocks Market value (2022) | US$ 53.31 Million |
| Rolling Stocks Market anticipated value (2032) | US$ 76.13 Million |
| Rolling Stocks Market growth rate (2022 to 2032) | 3.9% CAGR |
Rolling stocks is generally referred as any wheeled vehicles running on a railway tracks, which includes locomotives, passenger coaches and freight wagons among others.
Railway transport is an indispensable part of transport system and plays crucial role in the development of a nation, because the development of trade, commerce and industries is highly dependable on the transport system.
It drives the growth of industrialization of a nation through transporting variety of goods such as raw materials, basic commodities, vegetables, and utilities goods among others, with speed and certainty.
Rolling stocks are highly customized and can be easily tailored as per customer’s requirement. It is available in variety of types such as diesel locomotives, electric locomotives, freight carriers and rapid transit vehicles among others.
Diesel locomotives are featured with low axel load and used for passenger and freight traffic. It especially designed for narrow gauged or broad gauged railway. It has high demand from developing countries such as Argentina, India, China, Iraq, Malaysia, Pakistan, and Brazil among others.
One of the main factors behind the expansion of the rolling stock market is the increase in urban population together with expanding industrial mining activities around the world. The market benefits from the rise in demand for swift trams and fast metro trains.
The expansion of the rolling stock market is accelerated by the rise in steps being made by governments around the world to incorporate fast trains. These trains are seen as affordable, secure, and a quick mode of transportation that has a favourable effect on the market.
The rolling stock market is further influenced by the global expansion of the tourism industry. The increase in tourism and the resulting traffic increases the need for bullet trains. Additionally, the expansion of the industry is aided by the rise in transportation-related issues and their negative effects on the environment.
The rolling stock market is also benefited by the growth of the automotive industry, a spike in investments, and rising disposable income.
The rolling stock market rehabilitation has grown as a result of the need to enhance vehicle capacity and the surge in demand for lower travel expenses. To meet the rising number of passengers, the current fleet must be expanded. However, the current capacity of numerous rail franchises' rolling stock is insufficient to satisfy the rising demand. Refurbishment is therefore a practical option for increasing capacity and offers a chance to fix known reliability issues, enhance train energy efficiency, and modernise vehicles to meet needs.
During the forecast period, technological developments like magnetic levitation trains offer lucrative potential to market participants. Additionally, the growth of the data logger market will be further accelerated by the development of hydrogen fuel cell locomotives.
On the other hand, hefty overhaul, maintenance, and rolling stock refurbishment expenses are anticipated to restrain market expansion.
Due to the COVID-19 epidemic, transportation via the railway has seen significant losses as customers seek individualised transit options for their daily commute and short-distance trips. As a result, over the predicted period, organisations that regulate railway routes and railway service operators suffered significant losses.
Due to a shortage of funding, some existing railway projects and the order of new rolling stock have been put on hold or are progressing slowly. Governments, however, also have a funding shortage as a result of COVID-19.
Rolling stocks are reliable and safest mode of transport for goods compared against other mode of transports such as automotive, ships, and airplane. It additionally offers flexible and largest carrying capacity and if required its capacity can be easily increased by further addition of stocks.
Growing population, industrialization and government initiatives to provide faster, cleaner and safest transport system are key drivers to promote growth of the global rolling stock market.
However huge capital investment and high dependency on government’s policies is expected to retrain the entry of new market players in the established rolling stocks market.
Additionally highly competitive environment created by other modes of transport such as road and air transportation is expected to hinder the growth of market. The sustainability of global rolling stocks market is dependent on innovation with respect to offer low weight, high speed, and low maintenance products.
Rolling stocks market is highly dependable on the government policies of nation and increasing population and industrialization has forced governments to provide sustainable transport system.
Global rolling stocks market is expected to grow steadily owing to increasing global demand for well structure transport infrastructure. Rolling stocks market is well established in North America and Western Europe countries, and it is expected to grow linearly over the forecast period.
Growing economies such as China, India and Brazil are expected to emerge as most attractive geographical segment in global rolling stocks market. This is primarily because of rapidly expanding industries and governments initiatives to build advanced railway transport system.
According to the report published by Ministry of Railway of India, Indian government has plan to invest around US$ 120 billion to expand and electrify its railway network, over next five years.
Similarly, Latin America and Middle East & Africa are expected to create opportunities for the rolling stocks manufacturer, as regional governments has already launched several program to expand and improve railway network within these geographies.
Some of the key players in global rolling stocks market are as follow as;
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments and geographies.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Rolling Stocks Market
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