North America Rolling Stock Market size to increase by USD 1.69 billion during 2023-2028| Increased demand for freight wagons to drive the growth- Technavio

NEW YORK, Nov. 2, 2023 /PRNewswire/ -- The North America - Rolling Stock Market size is expected to grow by USD 1.69 billion, accelerating at a CAGR of over 3.71% during the forecast period. The growth of the North America rolling stock market is notably driven by the rise in the need for freight wagons. Railroads have traditionally played a crucial role in intercity goods transportation in the United States. Furthermore, many manufacturers in the region prefer using railroads for shipping due to their reputation as one of the safest delivery methods. The demand for freight transport is on the rise, particularly in countries like the United States and Canada. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

North America - Rolling Stock Market 2024 – 2028: Key Highlights:

• The report recognizes the following as some of the key players in the rolling stock market in North America: ALSTOM SA, American Industrial Transport Inc., Bombardier Inc., Brookville Equipment Corp., Caterpillar Inc., COLMAR Technik S.p.a., CRRC Corp. Ltd., FreightCar America Inc., General Electric Co., Hitachi Ltd., Hyundai Motor Co., National Steel Car Ltd., Railserve Inc. , Siemens AG, Stadler Rail Ag, The Greenbrier Companies Inc., Trinity Industries Inc., United Rentals Inc., Western Train Co., and WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.
• Rolling Stock Market in North America is fragmented in nature.
• Market to observe 2.85% YOY growth in 2024.

North America - Rolling Stock Market 2024 – 2028: Key Segments:

The market is segmented by Product (Rapid transit vehicles, Railroad cars, and Locomotives), Type (Rail freight and Rail passenger), and Geography (North America).

The rapid transit vehicles segment is expected to experience substantial growth during the forecast period. This segment encompasses various rolling stock used for passenger rail transport, including metro trains, light rail transit vehicles, trams, sleeper coaches, double-decker trains, and chair cars. Furthermore, several countries are making significant investments in urban transit system development to enhance local and regional connectivity and stimulate economic activity, further driving the growth of this segment.

North America - Rolling Stock Market 2024 – 2028: Market Dynamics:

Trend

• Innovation in locomotive manufacturing, such as kinetic energy recovery systems, is a key driver for North America's rolling stock market.
• These innovations harness energy from braking and aid in efficient transport in hilly terrains, reducing the need for high horsepower engines.
• New locomotive engines are eco-friendly with reduced emissions, also they have air-to-air heat exchangers and advanced fuel injection technology.
• These advancements positively impact the North America rolling stock market's growth during the forecast period.

Challenges

• Rising maintenance and repair costs for rolling stock present a significant challenge to North America's rolling stock market growth.
• Increasing rail infrastructure maintenance expenses and non-competitive rail freight pricing pose a threat to the market.
• Rolling stock, including locomotives, freight cars, and wagons, demands extensive maintenance within the rail freight system.
• Railway maintenance encompasses the upkeep of trains, stations, loading docks, and signaling systems, often involving costly rail section replacements.
• These factors negatively impact the North America rolling stock market, hindering its growth in the forecast period.

The report also covers information on upcoming trends and challenges. Explore detail information by purchasing report

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TOC:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Product
7. Market Segmentation by Type
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

About Technavio

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SOURCE Technavio