Rolling Stock Market Research Report Information By Product (Locomotive, Rapid Transit, And Wagon), By Component (Pantograph, Axle, Brakes, Gearboxes, Train Control Systems), By Application (Freight Application And Passenger Application), By Locomotive Technology (Conventional Locomotive, Turbocharged Locomotive, And Electro-Diesel Locomotive) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

Rolling Stock Market Overview

The Rolling Stock Industry is projected to grow from USD 46.36 Billion in 2024 to USD 64.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.29% during the forecast period (2024 - 2032). Rolling Stock Market Size was valued at USD 44.2 billion in 2023. Increasing passenger transportation to avoid traffic congestion and increasing demand for speedy metro trains are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Rolling Stock Market Trends

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  Data analytics and advanced maintenance usage are fueling market growth

  
  

Data analytics and sophisticated maintenance usage are driving the rolling stock market CAGR. The service sector is expected to be the most profitable for manufacturers. Remote monitoring, digital solutions, and big data analytics advancements have enabled traditional rolling stock OEMs to successfully adapt to their current business offers and provide targeted and scalable solutions. The growing use of big data analytics has enabled OEMs to take on more jobs in the service industry from owners and train operating corporations. As a result, OEMs can create profit from servicing and maintenance throughout the vehicle's lifecycle in addition to the sale of new vehicles.

Furthermore, end-user preferences for asset availability contribute to this advancement. The use of remote assistance and predictive maintenance solutions enables OEMs to provide expanded service models such as increased reliability in the committed provision of the available rolling stock fleet, which aids this advancement.

In addition, Alstom's HealthHub platform allows improved maintenance through decision-making assistance and effectively monitors fleet availability. As a result, OEMs are anticipated to profit from the service sector expansion, as rail operators lack the scale to build such solutions in-house.

For instance, the Canadian National Railway's USD 3.9 billion capital investment in Saskatchewan is enabling advances in locomotives and rail infrastructure, as well as promoting growth across all commodity divisions. As a result, these variables are anticipated to stimulate the rolling stock market revenue.

Rolling Stock MarketSegment Insights

Rolling Stock Product Insights

The rolling stock market segmentation, based on product includes locomotive, rapid transit, and wagon. In 2022, the rapid transit category will dominate with a 32% share of the rolling stock market. As cities and towns grow in size, long-distance commuting becomes more common. As a result, government authorities are being compelled to initiate public transportation projects for rapid transit vehicles such as metros and passenger trains, resulting in greater investment in rapid transit rolling stock and infrastructure.

Rolling Stock Component Insights

The rolling stock market segmentation, based on components includes pantograph, axle, wheelset, traction motor, auxiliary power system, air conditioning system, passenger information system, position train control, brakes, gearboxes, train control systems. Pantograph had a significant market share. A pantograph is equipment that is put on the roof of an electric train to gather power via an overhead tension line. The wire tension causes it to raise or lower. Typically, a single wire is utilized, with the return current passing through the track. It is a common form of current collector. The electric transmission system for modern electric rail systems consists of an upper, weight-carrying wire (known as a catenary) from which a contact wire is strung. The pantograph is spring-loaded and pushes a contact shoe up against the underside of the contact wire to extract the power required to run the train.

Rolling Stock Application Insights

The freight application and passenger application are the two divisions of the rolling stock market. 58% of the market share for the application type segment is accounted for by freight applications. Because of its capacity to move substantial quantities of goods both domestically and internationally, it is regarded as a crucial link in the supply chain and is frequently preferred over road transportation. Rail freights are helpful for transporting raw materials, large industrial equipment, and fossil fuels including coal, oil, and gas. The quality of freight services is improving with the development of tracking and security technology.

Figure 1: Rolling Stock Market, by Application, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Rolling Stock Locomotive Technology Insights

The rolling stock market is divided into four segments depending on locomotive technology: conventional locomotive, turbocharged locomotive, maglev, diesel locomotive, electric locomotive, and electro-diesel locomotive. As countries electrify their railways, diesel locomotives will have a market share of more than 62% in 2022. However, diesel trains will continue to be used in a variety of rolling stock fleets. Because of their ability to transport massive freight trains. Because of their higher torque engines, they are often used in industrial applications. However, as the world becomes more environmentally conscious, diesel train technology is developing toward the development of low-emission engines for diesel locomotives.

Rolling Stock Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. During the forecast period, the North America region is expected to have the largest CAGR. This is partly because increased metro project development and expansion of electrified network train routes will give OEMs with additional opportunities to diversify their revenue streams and expand their presence.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Rolling Stock Market Share By Region 2022 (%) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s rolling stock market accounts for the second-largest market share due to its high torque power and enhanced safety. Further, the German rolling stock market held the largest market share, and the UK rolling stock market was the fastest-growing market in the European region

The Asia-Pacific Rolling Stock Market Is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing population in the region is invoking the adoption of passenger rails for commuting. Moreover, China’s rolling stock market held the largest market share, and the Indian rolling stock market was the fastest-growing market in the Asia-Pacific region.

Rolling Stock Key Market Players & Competitive Insights

Leading market players are investing heavily in R&D to expand their product lines, which will help the rolling stock market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, rolling stock industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the rolling stock industry to benefit clients and increase the market sector. In recent years, the rolling stock industry has offered some of the most significant advantages to medicine. Major players in the rolling stock market, including Caterpillar (US), CRRC Corporation Limited (China), Hitachi, Ltd. (Japan), HYUNDAI ROTEM COMPANY (South Korea), and others, are attempting to increase market demand by investing in R&D operations.

CRRC Zhuzhou Locomotive Co., Ltd. is a Chinese electric locomotive manufacturer. It is one of CRRC's subsidiaries. CSR Group Zhuzhou Electric Locomotive Co., Ltd. was spun out from the locomotive works; the locomotive works' original legal structure became an intermediary holding company for CSR Group solely. Following the founding of the listed business CSR Corporation Limited, the limited company "CSR Group Zhuzhou Electric Locomotive" joined the group's listed portion, but the intermediate holding company remained unlisted. CSR Zhuzhou Electric Locomotive Co., Ltd. was also given a new name. In May 2020, CRRC Zhuzhou Locomotive, a subsidiary of China Railway Rolling Stock Corporation (CRRC), acquired Vossloh Group- a locomotive manufacturer in Europe. This will help CRRC to expand its business in the European rail market.

Alstom is a French multinational rolling stock manufacturer that works in rail transport industries around the world. It is involved in passenger transportation, signaling, and locomotives, and it manufactures high-speed, suburban, regional, and urban trains, as well as trams. In 1928, the electric engineering section of Société Alsacienne de Constructions Mécaniques (Als) and Compagnie Française Thomson-Houston (thom) merged to form the firm and its name (originally spelled Alsthom). Constructions Électriques de France (1932), shipbuilder Chantiers de l'Atlantique (1976), and portions of ACEC (late 1980s) were later significant acquisitions. In February 2020, Alstom announced the signing of a Memorandum of Understanding (MOU) with Bombardier Inc. and the Caisse de depot et placement du Quebec (CDPQ) for the acquisition of Bombardier Transportation. The cost of acquiring all of Bombardier Transportation's shares is estimated to be roughly EUR 6 billion.

Key Companies in the rolling stock market include

• Hitachi Ltd


• GE Transportation


• Electro-Motive Diesel (EMD)


• Kawasaki Heavy Industries Rolling Stock Company


• Construcciones Y Auxiliar de Ferrocarriles


• CRRC Corporation Limited


• Bombardier


• Alstom


• Transmashholding Stadler Rail AG


• Hyundai Rotem Company

Rolling Stock Industry Developments

In February 2023, Stadler Rail AG joined forces with ASPIRE Engineering Research Centre and Utah State University in order to build a battery-driven passenger train around the concept of FLIRT Akku. The project encompasses the development, manufacture, and testing of a two-car multi-unit that runs on batteries under the brand name FLIRT Akku.

Stadler Rail AG announced it had acquired BBR Verkehrstechnik GmbH (BBR), a rail company, and its group businesses in February 2023 to strengthen its internal know-how in the fields of digitization and signaling technology.

Alstom SA is setting up a new factory for railway electrification in Valmadrera (Lecco, Italy) by March 2023. It will produce power transmission components for rail, metro, or tram lines.

Siemens Mobility has entered into an agreement with Indian Railways under which Siemens India received an order for 9,000-hp locomotives from Indian Railways totaling 1,200 units – the largest ever single order placed with Siemens Mobility and Siemens India in their history. Siemens Mobility will design, develop, assemble, and test these trains for over a period of thirty-five years from delivery, and they shall also render full-service maintenance.

In November 2022, Siemens Mobility unveiled plans to build a train bogies factory in Aurangabad, India, capable of delivering more than one export consignment exceeding two hundred bogies at once. These rail bogies were made by Siemens using the SF30 Combino Plus global design idea.

In December 2022, HS2 awarded contracts to a joint venture comprising Hitachi Rail and Alstom (HAH-S) for the development, manufacture, and maintenance of high-speed rolling stock for Phase 1.

Rolling Stock Market Segmentation

Rolling Stock Product Outlook

• Locomotive


• Rapid Transit


• Wagon

Rolling Stock Component Outlook

• Pantograph


• Axle


• Wheelset


• Traction Motor


• Auxiliary Power System


• Air Conditioning System


• Passenger Information System


• Position Train Control


• Brakes


• Gearboxes


• Train Control Systems

Rolling Stock Application Outlook

• Freight Application


• Passenger Application

Rolling Stock Locomotive Technology Outlook

• Conventional Locomotive


• Turbocharge Locomotive


• Maglev


• Diesel Locomotive


• Electric Locomotive


• Electro-diesel Locomotive

Rolling Stock Regional Outlook

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  Middle East
  
  


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  Africa
  
  


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  Latin America