Report Overview

Rolling Stock Market- Industry Trends & Forecast Report 2028

The rolling stock market was worth USD 54 billion in 2021 and is projected to reach USD 73 billion by the year 2028. The expanding investments in railway transportation owing to the increasing demand for passenger mobility is significantly influencing the growth of the rolling stock market. Moreover, the electrification of the railway system especially in emerging economies such as China, India, Japan, etc., also acts as a major driving factor for market growth.

Rolling Stock- Overview

The term “rolling stock” is an umbrella term that is used to denote railway vehicles that run on railway tracks. It includes passenger cars, locomotives, freight cars, flat cars, and other steel wheels. Rolling stock is used as an inventory and is considered a liquid asset since it can be sold to a buyer without much delay. While the other fixed stock or infrastructure is a collective term used for railway infrastructure, which includes tracks, stations, signals, other buildings, etc.

Rolling Stock Market Forecast and Trends

Growth Drivers

Increasing Demand for Convenient Public Transport

Railways are the most preferred type of public transportation since train travel is hassle-free, convenient, as well as economical for both short and long journeys. It also proves to be economical for the country as well since the cost per passenger is very low compared to other types of transportation. Furthermore, railways have a very diverse interconnected network of trains that allows the passengers to travel to any destination within the country. Due to these advantages, the investment in railways is rising, further propelling the growth of the rolling stock market.

Expanding Goods Output and Production

The expanding goods production and flourishing import and export activities within the nation’s boundaries are anticipated to fuel the demand for the rolling stock market as well. The shipping of cargo by rail transport proves to be faster and more reliable as well as least affected by climatic conditions. It also offers higher speed for long distances, which proves to be favorable for non-durable and semi-durable goods. Furthermore, cargo shipping through rail transport is also cheaper compared to other modes of transport.

Restraints

High Initial Capital Investment

The procurement of rolling stock products and components require high investment and therefore will need financial assistance from local as well as central government. This is why the development of the railway system and other public transportation infrastructure in a country is usually concentrated among public authorities only. This high initial investment often impedes countries, especially middle and lower-income economies, from spending on new rail vehicles, which is acting as a major restraint for the growth of the rolling stock market.

Impact of COVID-19 on Rolling Stock Market

The entire automotive industry, including the rolling stock market, was negatively impacted by the unprecedented COVID-19 pandemic outbreak. Almost all the major rolling stock manufacturers suspended their production activities in the light of increasing COVID-19 infection rates and the need to implement social distancing norms. Furthermore, the railway infrastructure development investment and activities were all halted during the pandemic period due to the rising focus on healthcare infrastructure. All these factors significantly hindered the growth of the rolling stock market.

Rolling Stock Market - By Component

Based on the component, the rolling stock market is segmented into train control systems, passenger information systems, pantographs, brakes, air conditioning systems, axles, auxiliary power systems, wheelsets, gearboxes, and traction motors. The traction motor segment accounts for the largest market share as they are mainly used for propulsion of the rolling stock and to make rotation torque on a machine. This component is also useful in increasing the seating capacity of the rolling stock and reducing friction which makes rolling easy.

Rolling Stock Market - By Locomotive Technology

Based on locomotive technology, the rolling stock market is segmented into conventional locomotives, turbocharged locomotives, and maglev. The turbocharged locomotives segment holds the largest market. This is because of the prominent use of diesel engines to power trains. A turbocharger is used to generate more horsepower from the locomotive’s diesel engine. The maglev also covers a substantial market share due to its increasing use in various emerging countries, mainly Japan, South Korea, and China.

Rolling Stock Market - Regional Insights

Geographically, the rolling stock market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Europe holds the largest share in the rolling stock market owing to the high government and private spending on public mobility infrastructure development. Furthermore, the high concentration of leading rolling stock markets such as Skoda Transportation, Bombardier, Siemens Mobility, Alstom, etc., also plays a crucial role in proliferating the market growth in the forecast period. Moreover, the Asia-Pacific region is projected to witness a high growth rate during the forecast period.

Competitive Landscape

The leading market players of the rolling stock market are CRRC Corporation Limited, Alstom SA, Siemens Mobility, Bombardier Transportation, Stadler Rail, Hyundai Rotem, Trinity Industries Inc., CJSC Transmashholding, Wabtec Corporation, Kawasaki Heavy Industries Ltd, DescriptionConstrucciones y Auxiliar de Ferrocarriles SA, Mitsubishi Heavy Industries Ltd., Hitachi Railway Systems, GE Transportation, and other prominent players.

The market is highly dominated by a handful of players, among which CRRC Corporation covers the most share. The market players focus on offering a wide range of products such as coaches, wagons, metro cars, diesel, and electric locomotives, etc., to diversify their product portfolio and boost their revenue. They often engage in partnerships and agreements with private and public infrastructure development companies to boost their sales. Furthermore, the adoption of other strategies such as mergers, acquisitions, collaborations, joint ventures, etc., is also prominent in this market.

Recent Development

• In January 2022, Stadler Rail, a Swiss railway rolling stock manufacturer, bagged the 4 billion euros contract to supply 504 vehicles as part of the VDV ‘Tram-Train’ project by six transport companies from Germany and Austria.
• In December 2021, Alstom SA, a French multinational rolling stock manufacturer, announced to have won a USD 395 million rolling stock contract from Santiago’s metro line No. 7.

Scope of the Report

By Component

• Train Control Systems
• Passenger Information Systems
• Pantographs
• Brakes
• Air Conditioning Systems
• Axles
• Auxiliary Power Systems
• Wheel Sets
• Gearboxes
• Traction Motors

By Locomotive Technology

• Conventional Locomotives
• Turbocharged Locomotives
• Maglev

By Product Type

• Locomotives
• Diesel Locomotives
• Electric Locomotives
• Electro-Diesel Locomotives
• Rapid Transit
• Diesel Multiple Units (DMUS)
• Electric Multiple Unit (EMU)
• Light Rails/Trams
• Subways/Metros
• Monorails
• Wagons
• Others

By Application

• Passenger Transportation
• Freight

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Demand For Convenient Public Transport
         2. Rising Focus Towards Cross Border Railway Crossing
      2. Market Restraints
         1. High Initial Capital Investment
      3. Market Challenges
         1. Negative Impact of the COVID-19 Pandemic
      4. Market Opportunity
         1. Rising Government Investment In Railways Infrastructure
         2. Increasing Demand for Rapid Transit
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Rolling Stock Market Overview
   1. Market Size & Forecast by Value, 2018-2028
   2. Market Size and Forecast, By Segment
      1. By Component
         1. Train Control Systems
         2. Passenger Information Systems
         3. Pantographs
         4. Brakes
         5. Air Conditioning Systems
         6. Axles
         7. Auxiliary Power Systems
         8. Wheel Sets
         9. Gearboxes
         10. Traction Motors
      2. By Locomotive Technology
         1. Conventional Locomotives
         2. Turbocharged Locomotives
         3. Maglev
      3. By Product Type
         1. Locomotives
            1. Diesel Locomotives
            2. Electric Locomotives
            3. Electro-Diesel Locomotives
         2. Rapid Transit
            1. Diesel Multiple Units (DMUS)
            2. Electric Multiple Unit (EMU)
            3. Light Rails/Trams
            4. Subways/Metros
            5. Monorails
         3. Wagons
         4. Others
      4. By Application
         1. Passenger Transportation
         2. Freight
      5. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Rolling Stock Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Component
      2. By Locomotive Technology
      3. By Product Type
      4. By Application
      5. By Country
         1. U.S.
         2. Canada
7. Europe Rolling Stock Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Component
      2. By Locomotive Technology
      3. By Product Type
      4. By Application
      5. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Rolling Stock Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Component
      2. By Locomotive Technology
      3. By Product Type
      4. By Application
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Rolling Stock Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Component
      2. By Locomotive Technology
      3. By Product Type
      4. By Application
      5. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Rolling Stock Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2018-2028
    2. Market Share and Forecast
    3. By Component
    4. By Locomotive Technology
    5. By Product Type
    6. By Application
    7. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2021)
    3. Competitive Benchmarking by Operating Parameters
12. Impact of COVID-19 on Rolling Stock Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. CRRC Corporation Limited
    2. Alstom SA
    3. Siemens Mobility
    4. Bombardier Transportation
    5. Stadler Rail
    6. Hyundai Rotem
    7. Trinity Industries Inc.
    8. CJSC Transmashholding
    9. Wabtec Corporation
    10. Kawasaki Heavy Industries Ltd
    11. DescriptionConstrucciones y Auxiliar de Ferrocarriles SA
    12. Mitsubishi Heavy Industries Ltd
    13. Hitachi Railway Systems
    14. GE Transportation
    15. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Rolling Stock Market Segmentation

Figure 2: Rolling Stock Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2021

Figure 4: Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 5: Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 6: Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 7: Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 8: Rolling Stock Market Share (%), By Application, By Value, 2018-2028

Figure 9: Rolling Stock Market Share (%), By Region, By Value, 2018-2028

Figure 10: North America Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 11: North America Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 12: North America Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 13: North America Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 14: North America Rolling Stock Market Share (%), By Application, By Value, 2018-2028

Figure 15: North America Rolling Stock Market Share (%), By Country, By Value, 2018-2028

Figure 16: Europe Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 17: Europe Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 18: Europe Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 19: Europe Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 20: Europe Rolling Stock Market Share (%), by Application, By Value, 2018-2028

Figure 21: Europe Rolling Stock Market Share (%), By Country, By Value, 2018-2028

Figure 22: Asia-Pacific Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 23: Asia-Pacific Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 24: Asia-Pacific Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 25: Asia-Pacific Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 26: Asia-Pacific Rolling Stock Market Share (%), By Application, By Value, 2018-2028

Figure 27: Asia-Pacific Rolling Stock Market Share (%), By Country, By Value, 2018-2028

Figure 28: Latin America Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 29: Latin America Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 30: Latin America Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 31: Latin America Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 32: Latin America Rolling Stock Market Share (%), By Application, By Value, 2018-2028

Figure 33: Latin America Rolling Stock Market Share (%), By Country, By Value, 2018-2028

Figure 34: Middle East & Africa Rolling Stock Market Size, By Value (USD Billion), 2018-2028

Figure 35: Middle East & Africa Rolling Stock Market Share (%), By Component, By Value, 2018-2028

Figure 36: Middle East & Africa Rolling Stock Market Share (%), By Locomotive Technology, By Value, 2018-2028

Figure 37: Middle East & Africa Rolling Stock Market Share (%), By Product Type, By Value, 2018-2028

Figure 38: Middle East & Africa Rolling Stock Market Share (%), By Application, By Value, 2018-2028

Figure 39: Middle East & Africa Rolling Stock Market Share (%), By Region, By Value, 2018-2028

List of Tables

Table 1: Rolling Stock Market Size, By Component, By Value, 2018-2028

Table 2: Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 3: Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 4: Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028

Table 5: Rolling Stock Market Size, By Region, By Value (USD Billion), 2018-2028

Table 6: North America Rolling Stock Market Size, By Component, By Value (USD Billion), 2018-2028

Table 7: North America Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 8: North America Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 9: North America Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028,

Table 10: Europe Rolling Stock Market Size, By Component, By Value (USD Billion), 2018-2028

Table 11: Europe Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 12: Europe Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 13: Europe Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028

Table 14: Asia-Pacific Rolling Stock Market Size, By Component, By Value (USD Billion), 2018-2028

Table 15: Asia-Pacific Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 16: Asia-Pacific Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 17: Asia-Pacific Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028

Table 18: Latin America Rolling Stock Market Size, By Component, By Value (USD Billion), 2018-2028

Table 19: Latin America Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 20: Latin America Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 21: Latin America Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028

Table 22: Middle-East & Africa Rolling Stock Market Size, By Component, By Value (USD Billion), 2018-2028

Table 23: Middle-East & Africa Rolling Stock Market Size, By Locomotive Technology, By Value (USD Billion), 2018-2028

Table 24: Middle-East & Africa Rolling Stock Market Size, By Product Type, By Value (USD Billion), 2018-2028

Table 25: Middle-East & Africa Rolling Stock Market Size, By Application, By Value (USD Billion), 2018-2028

Table 26: CRRC Corporation Limited Financial Analysis

Table 27: CRRC Corporation Limited Business Overview

Table 28: Alstom SA Financial Analysis

Table 29: Alstom SA Business Overview

Table 30: Siemens Mobility Corporation Financial Analysis

Table 31: Siemens Mobility Corporation Business Overview

Table 32: Bombardier Transportation Financial Analysis

Table 33: Bombardier Transportation Business Overview

Table 34: Stadler Rail Financial Analysis

Table 35: Stadler Rail Business Overview

Table 36: Hyundai Rotem Financial Analysis

Table 37: Hyundai Rotem Business Overview

Table 38: Trinity Industries Inc. Financial Analysis

Table 39: Trinity Industries Inc. Business Overview

Table 40: CJSC Transmashholding Financial Analysis

Table 41: CJSC Transmashholding Business Overview

Table 42: Wabtec Corporation Financial Analysis

Table 43: Wabtec Corporation Business Overview

Table 44: Kawasaki Heavy Industries Ltd Financial Analysis

Table 45: Kawasaki Heavy Industries Ltd Business Overview

Table 46: DescriptionConstrucciones y Auxiliar de Ferrocarriles SA Financial Analysis

Table 47: DescriptionConstrucciones y Auxiliar de Ferrocarriles SA Financial Analysis

Table 48: Mitsubishi Heavy Industries Ltd Financial Analysis

Table 49: Mitsubishi Heavy Industries Ltd Business Overview

Table 50: Hitachi Railway Systems Financial Analysis

Table 51: Hitachi Railway Systems Business Overview

Table 52: GE Transportation Financial Analysis

Table 53: GE Transportation Business Overview