What Has Been the Progress and Growth of the Rolling Stock Market in Recent Years?
The rolling stock market has seen considerable growth due to a variety of factors.
• In recent years, the market size of rolling stock has experienced robust growth. It is set to escalate from $61.79 billion in 2024 to $65.64 billion in 2025, which translates to a compound annual growth rate (CAGR) of 6.2%.
The historic growth can be ascribed to factors such as heightened demand for mass transportation, a surge in the need for intermodal transportation, advancements in the rail transportation system, and the requirement for efficient and reliable transportation.
What Can Be Expected from the Rolling Stock Market in the Coming Years?
The rolling stock market is expected to maintain its strong growth trajectory in upcoming years.
• In the ensuing years, the rolling stock market size is projected to experience robust growth. By the year 2029, it is expected to surge to $87.98 billion, with a compound annual growth rate (CAGR) of 7.6%.
This growth during the forecasted period is largely credited to factors such as the expansion of urbanization, escalating population density, increased implementation of automation and digitalization in rolling stock, integration of sustainable energy, heightened connectivity and the inclusion of the Internet of Things (IoT). The forecast period is also expected to witness significant trends such as the electrification of rail networks, the implementation of maglev technology, emphasis on energy efficiency, incorporation of artificial intelligence and the provision of modular and personalized rolling stock.
What Are the Critical Driver Fuelling the Rolling Stock Market's Growth?
The increasing need for energy-saving transportation methods is predicted to boost the expansion of the rolling stock market. Cost-effective and time-efficient transport allows for the seamless and energy-efficient movement of individuals and goods. Train systems utilize rolling stocks to decrease energy usage, therefore, the escalating requirement for energy-saving transport systems boosts the demand for rolling stocks. For example, the Council on Energy, Environment and Water anticipates that by 2030, a third of four-wheelers and half of two-wheelers sold in India will be electric due to the escalating demand for energy efficiency. This proportion is projected to increase to 75% and 90% respectively by 2050. Consequently, the need for energy-saving transport systems is propelling the growth of the rolling stock market.
How Is the Rolling Stock Market segmented?
The rolling stock market covered in this report is segmented –
1) By Product: Locomotive, Rapid Transit Vehicle, Wagon
2) By Locomotive Technology: Conventional Locomotive, Turbocharge Locomotive, Maglev, Diesel Locomotive, Electric Locomotive, Electro-Diesel Locomotive
3) By Component: Pantograph, Axle, Wheelset, Traction Motor, Auxiliary Power System, Other Components
4) By End User: Passenger Transit, Cargo Train
Subsegments:
1) By Locomotive: Diesel Locomotive, Electric Locomotive, Hybrid Locomotive
2) By Rapid Transit Vehicle: Light Rail Vehicle (LRV), Metro Or Heavy Rail, Monorail
3) By Wagon: Freight Wagon, Tank Wagon, Hopper Wagon, Flat Wagon
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What New Trends Are Influencing the Rolling Stock Market?
Prominent corporations in the rolling stock market are dedicated towards the innovation of high-tech diesel-battery-electric hybrid locomotives to cater to rising needs for eco-friendly transportation alternatives. These unique locomotives integrate an existing diesel engine with the potency of electric batteries, enabling efficient energy consumption and minimised emissions. The conventional diesel mechanism caters to long-distance and intense power requirements, while the electric battery fulfills short-distance needs and offers regenerative braking capacities in areas with low emission. Taking an example from October 2023, Progress Rail, a transit firm from the United States, launched the EMD GT38H. Equipped with a Caterpillar 3512 diesel engine in conjunction with a generator and a lithium-ion battery storage system, the EMD GT38H churns out a starting tractive force of 495 kN and maintains a steady tractive force of 402 kN. Supporting a top speed of 60 km/h and equipped with a battery storage capacity of 550 kWh, these locomotives can be recharged using regenerative methods and external sources. Rumo anticipates fuel savings of up to 45% and considers substantial shrinkage in particulate matter, NOx emissions, and noise levels. These locomotives are engineered for rough terrains, making them an apt choice for Rumo's narrow-gauge South Network.
Who Are the Key Players in the Rolling Stock Market?
Major companies operating in the rolling stock market include:
• Alstom Holdings SA
• Bombardier Inc.
• Construcciones y Auxiliar de Ferrocarriles SA
• CRRC Corporation Ltd.
• GE Transportation
• Hitachi Ltd.
• Hyundai Rotem Company
• Kawasaki Heavy Industries Ltd.
• Siemens AG
• Stadler Rail AG
• Transmash Holding
• Electro-Motive Diesel Ltd.
• Skoda Transportation AS
• Talgo SA
• Trinity Industries Inc.
• Wabtec Corporation
• Ansaldo STS
• PESA Bydgoszcz SA
• Newag SA
• MAPNA Group
• Nippon Sharyo Ltd.
• Caterpillar
• IHI Corporation
• Tatravagonka A. S.
• Virgin Hyperloop
• Transpod Inc.
• Texmaco Rail & Engineering Ltd.
• Alna Sharyo Co. Ltd.
• Pesa Group
What Is The Most Dominant Region In The Rolling Stock Market?
Asia-Pacific was the largest region in the rolling stock market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the rolling stock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
