The rolling stock management market has shown robust growth, increasing from $51.57 billion in 2023 to $54.88 billion in 2024, at a CAGR of 6.4%. This growth is attributed to rising urban populations, increased government investments, stringent environmental regulations, economic growth, and global trade expansion. The market is expected to continue growing, reaching $70.67 billion by 2028, with a CAGR of 6.5%. Future growth is driven by sustainable mobility trends, increased rail electrification, government incentives, urban rail expansion, and climate change policies. Key trends include AI integration, smart transportation solutions, advancements in digitalization, automation, digital twins, and simulation models.
Major Driver In The Rolling Stock Management Market
Increasing demand for rail transportation is likely to drive the growth of the rolling stock management market. Rail transportation is valued for its efficiency, sustainability, and capacity to reduce congestion and emissions. This growing demand necessitates effective rolling stock management for optimal maintenance, reliability, and scheduling of trains. In June 2024, the Office of Rail and Road reported that rail passenger journeys in Great Britain reached 1.61 billion in the fiscal year from April 1, 2023, to March 31, 2024, reflecting a 16% increase from 1.38 billion journeys in the previous year. This rising demand for rail transportation is propelling the rolling stock management market.
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Rolling Stock Management Market Competitive Landscape
Hitachi Ltd, CRRC Corporation Limited, Mitsubishi Heavy Industries Ltd, ABB Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles, The Greenbrier Companies Inc., Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., Vossloh AG, Amsted Rail Company Inc, Siemens Mobility GmbH, Nippon Sharyo Ltd, Talgo SA, FreightCar America Inc.
Key Rolling Stock Management Market Trend
In the rolling stock management market, companies are increasingly utilizing artificial intelligence (AI) to optimize operations and safety. AI rail operations systems enhance predictive maintenance, real-time monitoring, and passenger experience management. In June 2024, ADComms, a UK-based transport services provider, launched Monica Hub, a cutting-edge data aggregation and software system aimed at transforming rail operations. By integrating real-time data from over 70 sources—including on-train sensors and GPS—Monica Hub empowers operators and infrastructure managers to improve passenger journeys with increased efficiency and quality, fulfilling diverse customer needs.
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Rolling Stock Management Market Segmentation
The rolling stock management market covered in this report is segmented –
1) By Maintenance Service: Corrective Maintenance, Preventive Maintenance, Predictive Maintenance
2) By Management Type: Railway, Infrastructure
3) By Application Type: Goods Carrier, Passenger Carrier
By Geography:The regions covered in the rolling stock management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the rolling stock management market in 2023.
The Rolling Stock Management Global Market Report 2024 furnishes information about the global rolling stock management market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
