29th July 2019 – Global Rolling
Stock Market size is expected to reach USD 75.12 billion by 2025.
Rolling stock is the wheeled vehicles that are used on a railway. It is
commonly used for transportation of passengers as well as goods such as
conventional fuels, agricultural products, heavy machinery and construction
materials. It has facilitated easy transportation with some benefits such as
reliability, cost-effectiveness and comfort. Need for reduced traffic,
reliability and cost efficiency has increased the adoption of rolling stock for
transportation of goods, passengers and animals. The rolling stock market to
witnesses a CAGR of 4% in the forecast period.
In rolling stock, some locomotive
technologies are used such as conventional locomotive, turbocharge locomotive,
maglev, and others. The “turbocharge locomotive” segment is projected to grow
at the higher CAGR in the coming years. Numerous companies are implementing
turbocharger technology in locomotives used for public transport. Rolling stock
could be explored by product such as rapid transit vehicle, locomotive, wagon,
subway/metro vehicle, passenger coach, light rail/ tram car, and others. The
“rapid transit vehicle” segment is anticipated to witness strong growth in the
next couple of years owing to high speed and enhanced comfort offered by these
vehicles. Moreover, increasing demand for magnetic levitation trains and
automated trains for public transportation is expected to boost the market
growth in the next couple of years.
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Train types such as rail freight and
passenger rail could be explored in rolling stock industry. The demand for
passenger rails is constantly increasing globally. Moreover, passenger rails
are mass transit systems and more cost-effective than roadways. Metros, trams
and high-speed trains are the most preferred passenger rails due to their
faster transportation service.
The factors that play an important role
in the growth of market include increasing demand, growing population,
increasing urbanization & industrialization, growing demand for public
transport, increasing need for energy-efficient transport, rising demand for
rail vehicles such as local trains, trams & passenger rails, technological
advancement and stringent government rules & regulations. The other factors
include improvement of rail tracks, enhancements to the existing rail management
systems, building new lanes, technological development of rail control and
signaling services.
Moreover, growing rail supply market in
the rail infrastructure projects and governments are heavily investing in the
rail infrastructure projects like signaling, electrifying of tracks & urban
transit systems in developing countries are major factors driving the growth of
market in the next couple of years. However, high installation and maintenance
cost of rolling stock is negatively impacting the growth of rolling stock
industry.
The probable stakeholders for market
include manufacturers of rolling stock, dealers & distributors of rolling
stock, investment firms, equity research firms, private equity firms and
industry associations. The market is widely analyzed based on different
regional factors such as gross domestic product (GDP), demographics,
acceptance, inflation rate and others. The market is classified into product,
type, train type, locomotive technology and geography.
The market is classified by type such as
diesel and electric. The “electric vehicles” sector is expected to hold the
large market share in the upcoming period due to its benefits such as reduced
pollution and enhanced efficiency of vehicles. Electric trains are eco-friendly
and emit 20%-30% less carbon monoxide as compared to diesel trains.
Asia Pacific is projected to grow at the
higher CAGR in the upcoming period owing to the increasing adoption of rail
vehicles for transporting goods and passengers. Also, the growing investments
in electric and metro trains in developing countries such as India, Taiwan and
China which fuels the growth of market in this region. Middle East & Africa
(MEA) is expected to be the fastest growing region in the years to come due to
the rising applications of rolling stock in the oil & gas and mining
industries for transportation of goods.
The key players contributing to the
robust development of the rolling stock industry includes CRRC Corporation
Limited, Alstom Transport, Bombardier Transportation, Alstom SA, Trinity Rail
Group LLC, GE Transportation, Diesel Locomotive Works (DLW), Stadler Rail AG,
Siemens Mobility, Japan Transport Engineering Company, Downer Rail, Faiveley
Transport, General Electric Company, UGL Rail, The Greenbrier Co., Texmaco Rail
and Engineering, Hitachi Rail Systems, and Hyundai Rotem. The major market
players are focusing on inorganic growth to sustain themselves amidst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of
the hour.
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