The Global Rolling Stock Market research report interprets definition, an investigation of significant progress in the industry. It provides overall industry survey, product description, wide array of applications, top players, and development forecast. It enhances understanding about that market along with new business trends.
The Rolling Stock Market report discusses the primary industry growth
drivers and challenges that the vendors and the market as a whole face and
provides an overview of the key trends emerging in the market. It also talks
about the market size of different segments and their growth aspects along with
key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and
Africa regions.
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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.
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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