Fact.MR’s report projects the global rolling stocks market to surpass US$ 77 Bn, expanding at over 4% CAGR across the 2021-2031 forecast period. The focus of manufacturers on offering quick and comfortable transportation alternatives is driving growth.
Historically, from 2016-2020, sales of rolling stocks garnered a market revenue surpassing US$ 50 Bn. Due to the lockdowns imposed by COVID-19, the industry suffered a setback as the global transportation sector experienced significant constraints. Fortunately, demand for essential products and services such as food and pharmaceutical products largely sustained global rolling stock demand.
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Rolling Stocks Market Insights Segmentation
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
- Rolling Stock for Freight Application
- Rolling Stock for Passenger Application
Key Takeaways from the Market Study
- By type, locomotive rolling stocks demand to accelerate above 4% CAGR from 2021-2031.
- Freight wagons to account for over 5 out of 10 rolling stock sales until 2031
- Rapid urbanization spurring demand for passenger wagons, accounting for around 40% of global demand
- High demand is anticipated in the U.S, likely to surpass a CAGR of 5% in the forecast period.
- China and India dominate the rolling stocks market across Asia, yielding over 60% of revenue
“Increasing demand for comfort during train travel is prompting manufacturers to introduce lightweight yet robustly designed locomotives and coaches, spurring the demand for rolling stocks.” says the Fact.MR analyst.
Manufacturers of rolling stock are focusing on providing agility, comfort and fuel efficiency.
- CRRC Corporation Limited (CRRC), a rolling stock giant signed a strategic agreement with TÜV Rheinland, a global technical service provider – to improve their collaborative services including international compliance testing and certification of rolling stock in September 2018.
- Siemens announced the investment of 200 million euros to start rolling stock factory at Goole in the East Riding of Yorkshire, UK in March 2018. In April, the company got approval from the Orange County Transportation Authority to supply vehicles for the county’s Streetcar project.
- In May 2021, Siemens Mobility and Stadler jointly won a € 114.5 million (US$ 135 million) contract to provide the Lisbon Metro with a state-of-the-art signalling system and a new fleet of modern trains, with the latter agreeing to supply 14 three-car metro trains