The global rolling stock market is predicted to reach US$68.71 billion by 2023, growing at a CAGR of 4.40% for the period spanning 2018-2023. Rolling stock refers to the wheeled vehicles that run on railway tracks. In a rail transport system, rolling stock faces lesser frictional resistance as compared to rubber-tired road vehicles, so that the passenger and freight cars can be joined together to form longer trains. Rolling stock includes vehicles such as passenger coaches, locomotives and freight wagons.
The growth in the market for rolling stock is expected to be driven by factors such as rising passenger traffic, infrastructural expansion, easy mode of transportation and increasing global tourism. The market is also forecasted to face certain challenges like competition from other modes of transportation, high maintenance cost of rolling stocks and drawbacks in regulatory policies. To overcome the hindrances, the market is undergoing few developments such as establishment of light rail vehicles and magnetic levitation trains.
The rolling stock market comprised of two segments: freight and passenger. The freight rolling stock holds a larger share of the total market and would continue to dominate the market in coming years. But the market for passenger rolling stock is expected to grow at a higher rate during the forecasted period, 2019-2023.
The fastest growing regional market is North America. The North American market for rolling stock is predicted to be driven by factors such as rising demand for freight wagons and rising government initiatives to promote public transport as a means of reducing traffic congestion & pollution.
Scope of the report:
• The report provides a comprehensive analysis of the global rolling stock market, segmented into freight and passenger.
• The major regional markets (North America, Europe and Asia-Pacific) have been analyzed, along with country coverage of US and China.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Alstom, Bombardier, Kawasaki Heavy Industries, CRRC, General Electric and Siemens) are also presented in detail.
Key Target Audience:
• Rolling Stock Manufacturers
• Raw Material/Component Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities