Global rolling stock market is projected to surpass $76 billion by 2024
NEW YORK, April 2, 2019 /PRNewswire/ -- Global Rolling Stock Market By Product Type (EMU, Diesel Locomotive, Wagon & Others), By Application (Passenger Coach & Freight Wagon), By Locomotive Technology (Conventional Locomotive, Turbocharge Locomotive & Maglev), By Region, Competition, Forecast & Opportunities, 2024
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Global rolling stock market is projected to surpass $76 billion by 2024 from around $ 59 billion in 2018.Approval of new railway lines and high-speed railway projects coupled with growing need for energy efficient transport are the major factors expected to fuel the market.
Rolling stock is referred to as any wheeled vehicle running on a railway track, like locomotives, passenger coaches and freight wagons.Rolling stock has facilitated easy transportation with benefits such as cost-effectiveness, reliability and comfort.
Thus, the demand for rolling stock has been on a steady rise over the past few years and this trend will continue during the forecast period. Moreover, government initiatives to promote public transport as a means of reducing traffic congestion and pollution is also bolstering the global rolling stock market.
Based on locomotive technology, global rolling stock market has been categorized into conventional locomotive, turbocharge locomotive and maglev. The turbocharge locomotive category accounts for the largest share among all the locomotive technology types, majorly owing to increasing power offered by turbocharge locomotives with no additional fuel costs.
In terms of product type, the market has been categorized into electric locomotive, diesel locomotive, EMU, DMU, electro-diesel locomotive, subway/metro, light rail/tram, wagon and coach. Owing to growing demand for dedicated freight corridor in a country, the EMU category is anticipated to capture the largest market share in the coming years.
Rolling stock market is well-established in Western European and North American countries and is expected to grow linearly during the forecast period.Emerging economies such as India, Brazil, China, and Iran are expected to become most lucrative markets for global rolling stock players, backed by rapidly expanding industries and government initiatives aimed at developing advanced railway transport systems in these countries.
Moreover, regional governments in Middle East & Africa and South America have already launched several programs to improve and expand their railway networks, thereby offering further growth opportunities to market players.
Global rolling stock market is consolidated in nature due to increasing number of mergers & acquisitions. Some of the leading players in global rolling stock market are CRRC Corporation Limited, Bombardier Inc., CAF, Alstom SA, Trinity Industries, Kawasaki Heavy Industries Ltd. and others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global rolling stock market size.
• To classify and forecast global rolling stock market based on product type, application, locomotive technology, and regional distribution.
• To identify drivers and challenges for global rolling stock market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global rolling stock market.
• To conduct the pricing analysis for global rolling stock market.
• To identify and analyze the profile of leading players operating in global rolling stock market.
Some of the leading players in global rolling stock market are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Greenbrier Industries, CAF, Hyundai Rotem Co. Ltd., Trinity Industries, Mitsubishi Heavy Industries, Ltd., etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of rolling stock vendors across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the suppliers which could not be identified due to the limitations of secondary research. The analyst analyzed the product offerings, distribution channels and presence of all major rolling stock manufacturers across the globe.
The analyst calculated global rolling stock market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by the analyst.
Key Target Audience:
• Locomotive manufacturers
• Railway contractors
• Railway organizations
• Raw material suppliers of rolling stock
• Rolling stock component manufacturers
• Organizations, forums and alliances related to rolling stocks
• Government bodies such as regulating authorities and policymakers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global rolling stock market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Product Type:
o Diesel Locomotive
o Electric Locomotive
o Electro-diesel Locomotive
o DMU
o EMU
o Light Rail/Tram
o Subway/Metro
o Coach
o Wagon
• Market, by Application:
o Passenger Coach
o Freight Wagon
• Market, by Locomotive Technology:
o Conventional Locomotive
o Turbocharge Locomotive
o Maglev
• Market, by Region:
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Indonesia
o Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
o North America
- United States
- Mexico
- Canada
o South America
- Brazil
- Argentina
- Chile
o Middle East and Africa
- South Africa
- Iran
- Egypt
- Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global rolling stock market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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