Global Rolling Stock Market to Reach US$ 78.2 Billion by 2028, Impelled by Rising Need for Convenient Means of Transportation

April 20, 2020

According to the latest report by IMARC Group, titled “Rolling Stock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global rolling stock market size reached US$ 66.4 Billion in 2022. Rolling stock refers to powered and unpowered vehicles that run on railway tracks and are widely used as a cost-effective mode of transportation. It can also be utilized to transport heavy goods, agricultural products, construction materials and bulky machinery over long distances. Rolling stock includes coaches, locomotives, carriages, passenger cars and freight wagons and is widely associated with enhanced comfort, improved reliability and faster commute. Consequently, they are widely used for transporting industrial chemicals, petrol and diesel, among other goods across numerous industry verticals.

Global Rolling Stock Market Trends:

The global market is primarily driven by the increasing requirement for convenient means of transportation. A significant increase in the global population, especially that of working professionals, along with rising issues pertaining to road traffic, has resulted in the growing demand for public modes of transportation, such as trams, metro, rapid rail and local passenger trains. These vehicles not only improve the commuting experience of the users by avoiding on-road congestion but also offer protection against altering weather conditions. Additionally, high-speed trains save the traveling time of the commuters while providing them a comfortable experience cost-effectively. Moreover, numerous manufacturers are utilizing lightweight components for the production of rolling stocks to improve their speed and fuel efficiency. They are also equipping the vehicles with regenerative braking, which uses traction motors as brakes for generating electricity. The produced electricity is further used to power other trains, which improves the overall efficiency of the transport system while minimizing their wear and tear. Furthermore, numerous government initiatives to promote the use of public transport and replace the aging rolling stock with new vehicles are providing a thrust to the market growth. Some of the other factors influencing the market growth include the integration of these transports with the internet of things (IoT), and innovations in big data and analytics, which facilitate streamlining operations. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 78.2 Billion by 2028, registering a CAGR of 2.67% during 2023-2028.

Market Summary:

  • On the basis of the product type, the market has been categorized into diesel, electric and other locomotives.
  • Based on the locomotive technology, the market has been divided into turbocharge locomotive, conventional locomotive and maglev.
  • On the basis of the application, the market has been classified into passenger coach and freight wagon.
  • On the geographical front, Europe holds the leading position in the market. Some of the other key regions include Asia Pacific, North America, Middle East and Africa and Latin America.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Rolling Stock Market to Reach US$ 78.2 Billion by 2028, Impelled by Rising Need for Convenient Means of Transportation
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