The rolling stock management market is estimated to grow from USD 42.8 billion in 2019 to reach USD 58.4 billion by 2025, at a CAGR of 5.32%
NEW YORK, April 3, 2019 /PRNewswire/ -- The rolling stock management market is estimated to grow from USD 42.8 billion in 2019 to reach USD 58.4 billion by 2025, at a CAGR of 5.32%. Increased emphasis on time and cost optimization, component monitoring, asset management, downtime reduction, and live monitoring of asset health is expected to boost the rolling stock management market. However, changes in technology require innovation in rolling stock management as per the upcoming trends along with acquiring technical expertise capable of handling advanced machines, which can create a hurdle for the growth.
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Increased emphasis on safety, IoT adoption, and security is likely to propel the growth of the remote diagnostic management during the forecast period
Remote diagnostic management provides complete information about components, controls, and the entire system of the train from a range or distance.This management processes wide data and provides a comprehensive analysis of the status.
It helps save time in operations and maintenance.Remote diagnostic management helps in rail maintenance management for preventive and corrective maintenance planning.
These solutions enable the proactive management and maintenance of all the rail assets.The technical capabilities of this solution include real-time remote diagnostics, component condition monitoring, and onboard condition monitoring.
It also includes key monitoring and reporting features that help support the whole lifecycle management of rail assets. This helps in greatly improving maintenance strategies and planning.
Middle East & Africa is expected to register the fastest growth during the forecast period
The major motives for technological upgrade in rolling stock management include the need to improve the logistics infrastructure of Middle East & African countries, as they strive to diversify their economies from their current reliance on the oil & gas sector and make urban transport efficient in the rapidly growing cities.The rich availability of natural resources in the region is expected to drive the growth of the rolling stock management market.
Most Middle East & African countries are focusing on either expanding the overall rail network or upgrading the rail network infrastructure.
Europe is expected to be the largest market during the forecast period
Europe accounted for 34.1% of the rolling stock management market in 2018. It is a major hub for several renowned OEMs including Bombardier (Germany), Alstom (France), Stadler (Switzerland), Talgo (Spain), Siemens (Germany), and Construcciones y Auxiliar de Ferrocarriles (Spain). The European rail supply industry is the largest in the world. It accounts for more than 45% of the total sales by the rail industry suppliers.
The EU Railway's target is to build 31,000 km of high-speed rail track by 2030. Furthermore, projects such as the European Rail Research Advisory Council (ERRAC), FP7 projects, Horizon 2020, and SHIFT2RAIL will boost the growth of the European rolling stock market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the rolling stock management market.
• By Company Type: Tier I - 49%, Tier II - 41%, and Tier III - 10%,
• By Designation: C Level - 42%, D Level - 34%, and Others - 24%
• By Region: North America - 36%, Europe - 28%, Asia Pacific - 18%, Middle East & Africa – 16% and Rest of the World- 2%
The rolling stock management market comprises major manufacturers like Bombardier (Canada), Alstom (France), General Electric (US), Siemens (Germany), ABB (Switzerland), and others.
Research Coverage:
The study covers the rolling stock management market across segments.It aims at estimating the market size and future growth potential of this market across different segments such as management type, rail management, infrastructure management, maintenance service, and region.
The study also includes an in-depth competitive analysis of key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.
Key Benefits of Buying the Report:
The report will help leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall rolling stock management market.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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