The global Rolling Stock Market was valued at USD 53.8 billion in 2022 and expected to reach USD 64.8 billion by 2027 and grow at a CAGR of 3.8% over the forecast period (2022 – 2027). The growth of the rolling stock market can be attributed to the factors such as increasing urbanization, increasing traffic congestion, rising demand for comfortable journey and growing preference for shorter journey time. Moreover, The demand for rolling stocks is dependent on some other factors such as the replacement of old rolling stocks, new railway projects, and the expansion of railway routes. Apart from this, the increasing electrification of railway networks is also expected to foster the growth of the rolling stock market globally.
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The rolling stock market is expected to grow at a CAGR of 3.8% during the forecast period. Rising demand for energy-efficient & green transportation has increased the electrification rate of railway networks globally. Moreover, growing traffic congestion, increasing population, rapid urbanization have further increased the demand for efficient intra-city transportation globally. Thereby, the governments of various countries have started planning for new transportation routes of the cities. As a result various new metro and suburban railway projects are coming up in various countries. This is expected to increase the demand for rolling stocks all over the world in the coming years.
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Subways/Metros are expected to be the fastest-growing segment in the global rolling stock market
Increasing urbanization and investments for the development of urban transit systems by governments are the key drivers for the growth of rapid transit systems globally. Subways/metros are urban transits used for intracity travel with limited passenger capacity. These trains operate at much greater frequencies and at higher average speeds than light rail/tram systems. This makes them highly efficient, as the system is free from road traffic interference. Metro trains are functional in countries such as India, the US, the UK, Germany, Brazil, South Africa, Australia, and France. China, with the largest metro track, in terms of length, is considered the largest metro market globally. Thereby, the subways/metros are expected to witness the fastest growth in the coming years globally.
Passenger coaches are expected to witness the fastest growth in the passenger transportation segment of global rolling stock market during the forecast period
The availability of robust infrastructure for both, urban and intercity transport for mass transit in various countries especially in Asian countries is the major factor driving the adoption of railways for passenger transportation. Globally, there has been an increase in the ridership of passenger trains which is likely to propel the demand for passenger coaches globally. Apart from this, passengers prefer railway transportation to cover remote distances as well, owing to the wide connectivity of railway networks. Therefore, the demand for passenger coaches is growing at a steady pace globally. Urbanization is also another major driver for the growth of passenger transportation by railways. According to the World Health Organization (WHO), in 2020, the urban population is projected to account for 60% of the global population by 2030. Hence, increasing urbanization is expected to further boost the market for passenger transportation in the coming years. Therefore, the demand for passenger coaches are likely grow at a fastest rate in passenger transportation segment during the forecast period globally.
Key Market Players:
The rolling stock market is dominated by global players such as CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Wabtec Corporation (US), Kawasaki Heavy Industries, Ltd. (Japan), Stadler Rail AG (Switzerland), CAF Group (Spain), Hyundai Rotem Company (South Korea), Mitsubishi Heavy Industries Engineering, Ltd. (Japan), Talgo (Spain), Transmashholding (Russia), and others. These companies have adopted strategies of new product development, expansions, collaborations, partnerships, and acquisitions to gain traction in the market.
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