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What fueled the previous growth in the railway rolling stock market?

The market size for railway rolling stock has seen robust growth in the past few years. The market, which was valued at $53.46 billion in 2024, is projected to reach $56.93 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the growth during the historical period include increased urbanization, a rising demand for effective transportation, the expansion of railway infrastructure, government initiatives and investments, heightened need for freight transport and a thriving tourism industry.

What will be the railway rolling stock market size in the future?

The railway rolling stock market size is expected to see strong growth in the next few years. It will grow to $72.38 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing investment in smart transportation systems, a growing focus on sustainable and green transportation solutions, the expansion of high-speed rail projects, the rising adoption of autonomous and digital technologies, increasing demand for modernized and refurbished rolling stock, and a and a growing urban population. Major trends in the forecast period include increasing integration of IoT and big data analytics, a growing shift towards electric and hybrid locomotives, rising use of predictive maintenance technologies, the expansion of autonomous and driverless train systems, and an and an increasing focus on passenger experience and amenities.

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What main drivers are fueling expansion in the railway rolling stock market?

The advancement of rail network electrification is projected to stimulate the expansion of the railway rolling stock market. The use of electric power in place of diesel or other fuels is primarily aimed at decreasing greenhouse gas emissions and boosting operational effectiveness, which essentially defines rail network electrification. As part of facilitating this transition to electrically driven trains, railway rolling stock employs the use of electric traction systems and other essential equipment. For example, verified by Eurostat in February 2024, an intergovernmental statistical entity based in Europe, France saw the emergence of 7113 electrically powered railcars, up from 7081 in 2021. An augmentation was also observed in Sweden with a surge to 2889 railcars in 2022, up from 2291 in 2021, manifesting a 25.99% growth rate. Consequently, the proliferation of rail network electrification is expected to fuel the growth of the railway rolling stock market.

What key areas define the segmentation of the global railway rolling stock market?

The railway rolling stock market covered in this report is segmented –

1) By Type: Type I, Type II, Type III, Type IV

2) By Wheel Type: Monoblock Wheels, Resilient Wheels, Rubber Tired Wheels, Steel Tired Wheels, Other Special Wheels

3) By Axle Type: Hollow Axles, Solid Axles

4) By Application: High Speed Trains, Light Rail Vehicles, Locomotives, Metros, Regional And Commuter Trains, Special Purpose Vehicles

Subsegments:

1) By Type I: Locomotives, Electric Multiple Units (EMUs), Diesel Multiple Units (DMUs)

2) By Type II: Freight Cars, Passenger Coaches

3) By Type III: High-Speed Trains, Light Rail Vehicles (LRVs)

4) By Type IV: Trams, Metro

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Who are the key players steering the development of the railway rolling stock market?

Major companies operating in the railway rolling stock market are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, CRRC Corporation Limited, ABB Ltd., Alstom S.A., Thales Group, Kawasaki Heavy Industries Ltd, Wabtec Corporation, Knorr-Bremse AG, Bombardier Transportation, Tech Mahindra Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles SA, The Greenbrier Companies Inc, Hyundai Rotem Company, SYSTRA Group, Trinity Industries Inc., CSR Corporation Limited, Vossloh AG, Amsted Rail Company Inc, Škoda Transportation as, PESA Bydgoszcz SA, Siemens Mobility GmbH, Nippon Sharyo Ltd, Patentes Talgo SL, Talgo SA, FreightCar America Inc

What key trends are currently impacting the railway rolling stock market’s development?

Leading firms in the railway rolling stock market are pivoting their focus towards the creation of intelligent railways and digital technologies, including smart train lease technology. This trend aims to streamline the leasing process and enhance train asset management. The integration of advanced IoT and data analytics in smart train lease technology offers improved maintenance, operational efficiency enhancement, and an enriched passenger experience. For example, Siemens Mobility GmbH, a Germany-based railway organization, debuted this technology for rolling stocks in February 2024. They capitalized on innovative technology to present optimized leasing solutions, with objectives to elevate efficiency, lower expenses, and refine asset management for railway operators. The smart train lease model symbolizes a new phase in rail leasing, marked with cutting-edge digital tools and analytics. These tools allow real-time surveillance and predictive maintenance, ensuring trains are consistently maintained at their best, therefore, minimizing downtime and upkeep costs.

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Which regions are most influential in expanding the railway rolling stock market?

Asia-Pacific was the largest region in the railway rolling stock market in 2024. The regions covered in the railway rolling stock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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