Rolling Stock Market in Europe to grow at a CAGR of 3.11% from 2021 to 2026|The introduction of new railway projects to drive the market growth -Technavio
NEW YORK, Dec. 5, 2023 /PRNewswire/ -- The rolling stock market size in Europe is expected to increase by USD 3.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.11%, according to Technavio.The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. The introduction of new railway projects is one of the key factors driving market growth. This is due to the increasing investments in railway line projects and the expansion of railway networks in the region. The demand for new locomotives and railroad vehicles is rapidly increasing due to the several national and cross-country railway projects which are currently under planning, development, or construction in the region. Many manufacturers are focusing on investing in high-speed railways due to their cost-efficiency when it comes to long routes. Furthermore, in the coming years, several European nations, including Germany, the UK, and France, aim to invest in improving domestic and global connectivity and logistics channels. As a practical mode of transportation, the railway industry makes up a significant portion of these investments. Hence, these railways projects are expected to drive market growth during the forecast period.
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The Rolling stock market in Europe; Insights
- Vendors: 15+, Including ALSTOM SA, Bombardier Inc., Bozankaya AS, Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd., HeiterBlick GmbH, Hitachi Ltd., Hyundai Motor Group, MODERTRANS POZNAN Sp. z.o.o., PJSC Kryukovsky Railway Car Building Works, Proact IT Group AB, Siemens AG, SKODA Transformation AS, Stadler Rail AG, Talgo SA, The Greenbrier Companies Inc., Trinity Industries Inc., UWC RPC PJSC, and Westinghouse Air Brake Technologies Corp., among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Product (freight cars, passenger transit vehicles, and locomotives) and Geography (Western Europe and Central and Eastern Europe)
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Major Trends- The development of battery-electric locomotives is an emerging trend in the market. The advances in battery technologies have encouraged many manufacturers to invest in the development of battery-electric locomotives for practical applications.
Furthermore, manufacturers of locomotives and rolling stock are developing railcars with high-capacity lithium-ion batteries that can be utilized for bimodal traction systems or short-haul applications. Battery electric locomotives are helpful in applications involving urban rail transit and non-electrified lines since they can help save energy and lower maintenance expenses for the infrastructure. In addition, many manufacturers are offering railcars that combine rechargeable batteries with supercapacitors which results in more efficient operations. Hence, this advancement in battery-electric locomotives is expected to drive market growth during the forecast period.
Significant Challenges- Growing competition in the railway industry from low-cost airlines is one of the significant challenges restricting market growth. The entry of numerous low-cost airline carriers over the last few years has also accelerated the adoption of airways as a common mode of transportation. Airlines are increasingly able to compete on price with trains, offering service between large metro areas for the same price.
Furthermore, to serve more domestic and international routes, major economy-class carriers are also increasing their aircraft capacity. In terms of infrastructure development, airlines have an edge over railway lines. As a result, many governments are reluctant to lay railway lines, and they focus on prioritizing air travel to gain profits. Hence, these factors are expected to restrict market growth during the forecast period.
The rolling stock market in Europe report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this Rolling Stock Market In Europe report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the rolling stock market in Europe between 2022 and 2026
- Precise estimation of the size of the rolling stock market in Europe and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the rolling stock market across Europe
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of the rolling stock market vendors in Europe
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TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by Application
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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SOURCE Technavio
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