Rolling Stock Market Share Projected to Reach USD 64.9 billion by 2032, at a 4.90% CAGR – Report by Market Research Future (MRFR)
Rolling Stock Market Increasing Technology and Demand for Speedy Metro Trains for Energy-Efficient Transport System
New York, US, May 31, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Rolling Stock Market Research Report Information by Locomotive Technology, Product, Region, Component, and Application- Forecast Till 2032”, the industrial boiler market is predicted to grow substantially over the assessment timeframe from 2023 to 2032 at a healthy CAGR of around 4.90%. The reports even share predictions regarding the market’s growing revenue share, which is likely to attain a market of USD 64.9 billion by the end of 2032. As per the study documents, the market was worth around USD 42.2 billion in 2022.
Rolling Stock Industry Overview:
The global Rolling Stock industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is data analytics and advanced maintenance usage. Furthermore, the end-user preferences for asset availability are also considered to be one of the crucial parameters enhancing the performance of the market around the world.
Rolling Stock Market Competitive Analysis
The catalogue of the top leaders across the global Market for Rolling Stock includes players such as:
- Hitachi Ltd
- Construcciones Y Auxiliar de Ferrocarriles
- GE Transportation
- CRRC Corporation Limited
- Electro-Motive Diesel (EMD)
- Bombardier
- Kawasaki Heavy Industries Rolling Stock Company
- Alstom
- Hyundai Rotem Company
- Transmashholding Stadler Rail AG
- Among others.
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Market USP Covered
Rolling Stock Market Drivers
The global Rolling Stock industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is data analytics and advanced maintenance usage. Furthermore, the end-user preferences for asset availability are also considered to be one of the crucial parameters enhancing the performance of the market around the world.
Market Restraints
However, some aspects may limit the market’s performance. The main aspect limiting the market’s development is the high costs linked.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 64.9 billion |
| CAGR during 2023-2032 | 4.90% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Component, Application, Locomotive Technology, and Region |
| Key Market Opportunities | Development in the mining sector |
| Key Market Dynamics | The demand for an energy-efficient transport system. |
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Rolling Stock Market Segment Analysis
Among all the products, the rapid transit category secured the leading position across the global market for Rolling Stock in 2022 with a maximum contribution of nearly 32%. As towns and cities grow in size, long-distance commuting becomes more common. The government authorities initiate public transportation projects for rapid transit vehicles such as passenger trains and metros.
Among all the components, the pantograph category secured the leading position across the global market for Rolling Stock in 2022. It is equipment put on the roof of an electric train to collect power via an overhead tension line.
Among all the application areas, the freight application segment secured the leading position across the global market for Rolling Stock in 2022 with a maximum contribution of around 58%. The main parameter causing a surge in the segment’s performance is its capacity to move substantial quantities of goods both domestically and internationally.
Among all the technologies, the diesel locomotives segment secured the leading position across the global market for Rolling Stock in 2022 with a maximum contribution of around 62%. On the contrary, diesel trains will continue to be utilized in a range of rolling stock fleets.
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Rolling Stock Market COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Rolling Stock industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Rolling Stock Market Regional Analysis
The global market for Rolling Stock is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the North American Region carried the top position across the global Rolling Stock industry in 2021. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Rolling Stock Market held the largest market share, and Canada was the fastest-growing market in the North American Region. The main aspect supporting regional market expansion is increased metro project development. Furthermore, the expansion of electrified network train routes will offer OEMs lucrative opportunities to diversify their revenue streams and expand their presence across the region, which is also projected to impact the growth of the regional market positively.
The European Region is anticipated to secure the second position across the global Rolling Stock industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Rolling Stock Market held the largest market share, and the U.K. was the fastest-growing market in Europe. The main aspect supporting regional market expansion is their high torque power and enhanced safety.
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The Asia-Pacific Rolling Stock Market Is expected to showcase the maximum r0wth rate over the coming years. India, China, and Indonesia are the leading development contributors in the region. Further, the China Rolling Stock Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the increasing population, causing the rise in the adoption of passenger rails for commuting.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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