Global Rolling Stock Market to Reach US$ 85.1 Billion by 2032, Impelled by Increasing Need for Sustainable Transportation

September 22, 2023 | Transportation and Logistics

According to the latest report by IMARC Group, titled "Rolling Stock Market Report by Product Type (Diesel Locomotive, Electric Locomotive, and Others), Locomotive Technology (Conventional Locomotive, Turbocharge Locomotive, Maglev), Application (Passenger Coach, Freight Wagon), and Region 2024-2032," the global rolling stock market size reached US$ 68.3 Billion in 2023. Rolling stock refers to the collection of railway vehicles that operate on a rail network. It encompasses a wide variety of vehicles, including locomotives, passenger cars, freight cars, and multiple units designed for various purposes within the rail transportation system. These rolling stock components are integral to the functioning of railways, facilitating the movement of passengers and goods efficiently and safely. Rolling stock is a critical part of the global transportation infrastructure, playing a pivotal role in the movement of individuals and cargo across the world. It is a key focus area for railway operators and manufacturers, as innovations in rolling stock technology can significantly impact the efficiency, safety, and environmental sustainability of rail transportation systems.

Global Rolling Stock Market Trends:

The global market is primarily driven by the increasing need for sustainable transportation solutions has put railways in the spotlight. As the world seeks to reduce greenhouse gas emissions and combat climate change, railways are recognized as an environmentally friendly mode of transportation. This has led to significant investments in modernizing and expanding rolling stock fleets with a focus on energy efficiency and reduced emissions. Furthermore, technology is reshaping the rolling stock landscape. The integration of digital technologies, including sensors, predictive maintenance systems, and communication networks, is enhancing the safety, reliability, and performance of rolling stock. This not only reduces operational costs but also improves the passenger experience. Moreover, market liberalization and privatization of railway services in various regions are creating new opportunities for rolling stock manufacturers and suppliers. The opening up of rail markets to competition has led to increased demand for modern, efficient, and cost-effective rolling stock. Additionally, the emphasis on connectivity within and between urban centers is encouraging the development of high-speed trains, driving innovation and competition in the rolling stock sector. Looking forward, the market value is projected to reach US$ 85.1 Billion by 2032, expanding at a CAGR of 2.4% during 2024-2032. 

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 segmented into conventional locomotive, turbocharge locomotive, and maglev.
  • On the basis of the application, the market has been bifurcated into passenger coach and freight wagon.
  • Region wise, the market has been segregated into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Among these, Europe holds a leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Product Type
  • Locomotive Technology
  • Application
  • Region
Product Types Covered Diesel Locomotive, Electric Locomotive, Others
Locomotive Technologies Covered Conventional Locomotive, Turbocharge Locomotive, Maglev
Applications Covered Passenger Coach, Freight Wagon
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Rolling Stock Market to Reach US$ 85.1 Billion by 2032, Impelled by Increasing Need for Sustainable Transportation
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