Markntel Advisors’ report, Rolling Stock & Component Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Rolling Stock & Component presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Rolling Stock & Component Market Research Report & Market Summary:
The Global Rolling Stock & Component Market size is estimated to grow at a CAGR of around 6.98% during the forecast period, i.e., 2024-30. The market growth has been driven by the rising preference of consumers toward the adoption of railways for transportation purposes. This is primarily influenced by increasing urbanization, and a growing workforce population, coupled with amplifying traffic congestion across urban cities in recent years. Hence, to avoid traffic congestion across urban cities, consumers have been preferring to use railway networks for transportation purposes. Consequently, as demand for the railway network is growing in urban cities across the globe, its development has also intensified. Therefore, this has been consequently driving the demand for rolling stocks & their components across the globe in recent years.
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Rolling Stock & Component Market Dynamics:
Key Driver-
Increasing Investment in Railway Infrastructure to Boost the Demand for Global Rolling Stock & Component Market – Governments across developing countries have been making substantial investments in railway infrastructure development in their countries. This is primarily aimed at the modernization of the existing railway infrastructure, including advanced signal systems. Also, governments are focussing on the replacement of aged infrastructure, including railcars, wagons, etc., to uplift the safety of railway infrastructure. Hence, the rising investment in railway infrastructure upgrades acted as a major market driver, owing to which, the demand for rolling stock & its components has also increased during the past years.
In addition to this, governments across countries like India, China, and Canada, among others, are also focussing on the expansion of their railway tracks. This expansion is primarily aimed to expand the reach of railways in remote areas as well as to enhance rail transport connectivity in their respective countries. In addition, the expansion of new tracks would also focus on the modernization of existing rail infrastructure, to develop railway tracks that can accommodate advanced and high-speed locomotives, wagons, etc. For instance,
- In 2023, The Federal Railroad Administration (FRA) of the US allocated an investment of USD1.4 billion, aimed at the expansion of the regional rail corridor, aimed for both passenger & freight rail
Hence, with increasing investments in railway infrastructure development, the demand for rolling stock & its components would also escalate in the coming years.
Rolling Stock & Component Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Rolling Stock Type
- Locomotives- Market Size & Forecast 2019-2030F (USD Million)
- Diesel Locomotive- Market Size & Forecast 2019-2030F (USD Million)
- Electric Locomotive- Market Size & Forecast 2019-2030F (USD Million)
- Electro-Diesel Locomotive- Market Size & Forecast 2019-2030F (USD Million)
- Rapid Transit
- Diesel Multiple Units (DMUS) - Market Size & Forecast 2019-2030F (USD Million)
- Electric Multiple Units (EMUS) - Market Size & Forecast 2019-2030F (USD Million)
- Light Rails/Trams- Market Size & Forecast 2019-2030F (USD Million)
- Subway/Metros- Market Size & Forecast 2019-2030F (USD Million)
- Monorails- Market Size & Forecast 2019-2030F (USD Million)
- Others (Wagons, Hyperloops, etc.) - Market Size & Forecast 2019-2030F (USD Million)
By Component Type
- Propulsion Systems- Market Size & Forecast 2019-2030F (USD Million)
- Engines- Market Size & Forecast 2019-2030F (USD Million)
- Traction Motors- Market Size & Forecast 2019-2030F (USD Million)
- Gearboxes- Market Size & Forecast 2019-2030F (USD Million)
- Auxillary Power Systems- Market Size & Forecast 2019-2030F (USD Million)
- Train Control Systems - Market Size & Forecast 2019-2030F (USD Million)
- Electric Control Units- Market Size & Forecast 2019-2030F (USD Million)
- Signaling Systems- Market Size & Forecast 2019-2030F (USD Million)
- Braking Systems- Market Size & Forecast 2019-2030F (USD Million)
- Brake Discs & Pads- Market Size & Forecast 2019-2030F (USD Million)
- Brake Control Units- Market Size & Forecast 2019-2030F (USD Million)
- Train Interior Systems- Market Size & Forecast 2019-2030F (USD Million)
- Cabin Interiors- Market Size & Forecast 2019-2030F (USD Million)
- HVAC- Market Size & Forecast 2019-2030F (USD Million)
- Lighting Systems- Market Size & Forecast 2019-2030F (USD Million)
- Electrical Systems- Market Size & Forecast 2019-2030F (USD Million)
- Batteries- Market Size & Forecast 2019-2030F (USD Million)
- Communication Systems- Market Size & Forecast 2019-2030F (USD Million)
- Pantographs- Market Size & Forecast 2019-2030F (USD Million)
- Traction and Transmission Systems
- Axles & Wheelsets- Market Size & Forecast 2019-2030F (USD Million)
- Shafts & Couplers- Market Size & Forecast 2019-2030F (USD Million)
- Others (Bearings, Fuel systems, etc.) - Market Size & Forecast 2019-2030F (USD Million)
Among these, Train Control Systems have been gaining a prominent share in the Global Rolling Stock & Component Market. This is primarily because the train control system is an indispensable part of the railway infrastructure, and it also the railway department to maintain the effectiveness and efficiency of their railway sector. Also, with the growing demand for railways for commuting, the need for robust train control systems has amplified in the historical years, to manage the higher frequency and capacity of trains on rail networks.
By Locomotive Technology
- Conventional Locomotives- Market Size & Forecast 2019-2030F (USD Million)
- Turbocharged Locomotives- Market Size & Forecast 2019-2030F (USD Million)
- Maglev Locomotives- Market Size & Forecast 2019-2030F (USD Million)
By Application
- Passenger Transportation- Market Size & Forecast 2019-2030F (USD Million)
- Freight Transportation- Market Size & Forecast 2019-2030F (USD Million)
Out of these applications, freight transportation has gained substantial market share in recent years. This is because the adoption of railways for freight transport has increased, especially for the transportation of goods within the country. Railways are one of the most efficient and cost-effective transport solutions for heavy goods within the country.
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World.
Asia-Pacific has been experiencing consistent growth in the Global Rolling Stock & Component Market. This is primarily due to the presence of nations like India, Japan, etc., which have highly dense railway infrastructure networks.
As indicated in the latest market research report published by Markntel Advisors, “Rolling Stock & Component Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Rolling Stock & Component industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/rolling-stock-component-market.html
Top Companies Operating in the Rolling Stock & Component Market:
- Wabtec Corporation
- CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
- Mitsubishi Corporation
- Allied CAT (Caterpillar Brand)
- Transmash Holding
- Titagarh Wagons
- Hitachi Rail Ltd.
- WOOJIN Electric Machinery Co., Ltd.
- ABB Group
- DEUTA-WERKE GmbH
- Deutsche-Bahn
- Echjay Forgings Pvt. Ltd.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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