$64 Billion Rolling Stock Locomotive, Rapid Transit, Wagon, Coach) Markets – Global Trends and Forecasts to 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Rolling Stock Market Report 2021-2025” report has been added to ResearchAndMarkets.com’s offering.

The global rolling stock market is projected to reach USD 64.3 billion by 2025, from an estimated USD 51.6 billion in 2020, at a CAGR of 4.4%

Governments are supporting electric vehicle charging stations through subsidies & tax rebates for installing electric vehicle charging stations and working in collaboration with such OEM’s to speed up growth of their countries EV charging networks.

Increase in demand for electric locomotives and multiple units with government and rail operators support for increase in investment in electrified rail route will boost rolling stock market. Also, with rise in fuel prices, alternate mode of transportation becomes very costly.

Thus, with rise in electrified network, operating cost would be low, which would make mass transportation cheaper as compared to alternate mode of transportation. To make the rolling stock market grow, a continued support from the government is required by making investment in rail infrastructure and by investment for expansion of rail projects.

However, COVID-19 pandemic is expected to have a slight impact on the rolling stock market. Both the production and sales of new rail vehicles had come to a halt in Q1 and Q2 of 2020 across the globe as the whole ecosystem had been disrupted. However, in the next two quarters, the sale of rolling stock has been on the rise specially for electric locomotive and electric multiple units.

OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for mass transportation would increase, as people would return to their work place, and use public transportation. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues.

Infrastructural development and demand for energy efficient vehicles likely to drive the rolling stock market

The growth of this market is fueled by the infrastructural development in the region and approval of new rail lines. However, refurbishment of existing rolling stock and capital-intensive nature of rolling stock is inhibiting the growth of the rolling stock market. Innovations in rolling stock and the development of new vehicle concepts for non-electrified railway lines are expected to further reduce carbon emissions. For example, rolling stock manufacturers are undertaking efforts to develop emission-free trains equipped with fuel cell drives.

Significant investments are being made by various governments and manufacturers to develop the fuel cell train technology. For instance, in 2018, Siemens received approval for approximately USD 14 million form the Federal Ministry for Transport & Digital Infrastructure (Germany) for research & development in the field of fuel cell rails. The fuel cell technology is expected to be ready for service by 2021. Rolling stock such as electric locomotives and EMUs are expected to further lower greenhouse emissions and increase energy efficiency.

High-speed rail project to drive the Asia Oceania rolling stock market

The Asia Oceania rolling stock market is expected to be the largest, by value, in 2020. This can be mainly attributed to the demand for high-speed rail projects and dedicated freight corridors via rail transport system in the region. The Asia Oceania region is the fastest-growing market due to increased production, domestic demand, and capacity expansions by rolling stock manufacturers.

This increase in production helps cope with the rising demand for rail transportation and concerns related to fuel-efficiency norms and regulations. In addition to domestic markets, there is an increase in demand from international markets. In January 2020, CRRC received an overseas supply contract worth USD 55.5 from Portugal to supply 18 new light rails with a maintenance period of five years. Thus, demand in the Asia Oceania region is on the rise.

Technological advancements are a key driver for the EMU market

There has been a rapid increase in the number of technological advancements in the rolling stock market. The EMU segment is estimated to hold the largest market share, in terms of value, in 2020. This can be credited to the latest generation of EMUs, which are characterized by modular designs.

An advanced electric multiple unit is more efficient and favorable than a diesel multiple unit. The demand for EMUs is expected to increase significantly owing to the construction of new high-speed train lines in China and the demand for new vehicles in Russia, Japan, Brazil, and the US. Such innovations would spur the growth of the rolling stock market.

Major players profiled in the report are: CRRC (China), Bombardier (Canada), Alstom (France), General Electric (US), Siemens (Germany), CJSC Transmashholding (Russia), Stadler (Switzerland), Kawasaki Heavy Industries (Japan), Construcciones Auxiliar de Ferrocarriles (Spain), Hyundai Rotem (South Korea).

Market Dynamics

Drivers

• Increasing Preference Towards Railway-Based Public Transport as a Means of Reducing Traffic Congestion
• Rising Demand for Energy-Efficient Transport
• Increasing Demand for Comfort and Safety

Restraints

• Refurbishment of Existing Rolling Stock
• Capital-Intensive Rolling Stock

Opportunities

• Big Data Applications in the Rail Industry
• Increase in Industrial and Mining Activities

Challenges

• High Overhaul and Maintenance Costs
• Requirement of High R&D Investments

Case Study Analysis

• Case Study 1: Alstom and ASC GmbH on Acceleration Sensor Test
• Case Study 2: Siemens and TUV Germany on Resolving IT Security Defects

Companies Mentioned

• ABB
• Alstom
• Alucast Iran
• American Equipment Company
• ASC GmbH
• Balfour Beatty
• Bombardier
• Calamp
• Chittaranjan Locomotive Works (CLW)
• Construcciones Y Auxiliar De Ferrocarriles
• CRRC
• Deuta-Werke
• Deutsche Bahn
• General Electric
• Hitachi
• Hyundai Rotem
• Ingeteam
• Intamin Bahntechnik
• Kawasaki Heavy Industries
• Lamifil
• Legios
• Mitsubishi Heavy Industries
• Niigata Transys
• Randon
• Rhomberg Rail
• Scomi Engineering
• Siemens
• Sinara Transport Machines
• Stadler
• Strukton
• Talgo
• Tech Mahindra
• Thales Group
• Toshiba
• Transmashholding
• TUV Germany
• UGL
• Urbanaut Monorail Technology
• Wabtec
• Woojin Industrial Systems

For more information about this report visit https://www.researchandmarkets.com/r/fxmqjw

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