LONDON, April 3, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360561
The global rolling stock market size is anticipated to reach USD 75.12 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4.0% during the forecast period. Need for reduced traffic, cost efficiency, and reliability has propelled the adoption of rolling stock for transportation of passengers, goods, and animals.
Rolling stock is commonly used for transportation of passengers as well as goods such as agricultural products, conventional fuels, construction materials, and heavy machinery. In countries such as India, governments operate rail infrastructure, whereas, in developed countries such as U.S. and Germany, either private entities or governments operate the infrastructure. Benefits such as minimal accidents and breakdowns, as compared to other modes of transport, are further driving market growth.
Enhanced speed and comfort offered by high-speed trains and maglev trains has driven passenger preference from conventional to advanced trains.Numerous companies such as CRRC Corporation Limited, Bombardier Transportation, and Trinity Rail are implementing turbocharger technology in locomotives used for public transport.
This has further boosted market growth.
The rapid transit vehicle segment is anticipated to witness substantial growth as these vehicles are faster, efficient, reliable, and affordable.Rapid transit vehicles use electricity for operation and consume one-fifth of the energy per passenger kilometer as compared to road-based transport systems.
Moreover, growing demand for rail vehicles has prompted governments to implement trams and adopt electric locomotives on a large scale. Such initiatives are expected to further help various regions achieve economies of scale with their existing railway infrastructure.
The market is consolidating due to increasing mergers and acquisitions.This is primarily driven by high competition and presence of established players in the market.
In September 2017, Siemens and Alstom signed a memorandum that involved the collaboration of Siemens' Mobility Business and Alstom for manufacturing rail vehicles.
Further key findings from the report suggest:
• Demand for rolling stock has increased over the years owing to benefits such as reliability and cost-effectiveness as compared to other modes of transportation
• The rail wagon segment generated the highest revenue in 2016, owing to increased import and export of various products in industries such as automotive, oil and gas, and mining
• Governments across the globe are investing in rapid transit vehicles to improve connectivity among cities and introduce smart transport facilities to provide a reliable and comfortable transportation system
• The MEA and South American regions are predicted to witness remarkable growth over the forecast period owing to increasing applications of rolling stock in the oil and gas and mining industries
• Key players in the market include CRRC Corporation Limited, Bombardier Transportation, Alstom Transport, and GE Transportation.
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