MarkNtel Advisors recently published a detailed industry analysis of the Rolling Stock & Component Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Rolling Stock & Component Market (2024-2030)
The Global Rolling Stock & Component Market size is estimated to grow at a CAGR of around 6.98% during the forecast period, i.e., 2024-30.
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What is driving the Rolling Stock & Component Market?
Increasing Investment in Railway Infrastructure to Boost the Demand for Global Rolling Stock & Component Market – Governments across developing countries have been making substantial investments in railway infrastructure development in their countries. This is primarily aimed at the modernization of the existing railway infrastructure, including advanced signal systems. Also, governments are focussing on the replacement of aged infrastructure, including railcars, wagons, etc., to uplift the safety of railway infrastructure. Hence, the rising investment in railway infrastructure upgrades acted as a major market driver, owing to which, the demand for rolling stock & its components has also increased during the past years.
In addition to this, governments across countries like India, China, and Canada, among others, are also focussing on the expansion of their railway tracks. This expansion is primarily aimed to expand the reach of railways in remote areas as well as to enhance rail transport connectivity in their respective countries. In addition, the expansion of new tracks would also focus on the modernization of existing rail infrastructure, to develop railway tracks that can accommodate advanced and high-speed locomotives, wagons, etc. For instance,
- In 2023, The Federal Railroad Administration (FRA) of the US allocated an investment of USD1.4 billion, aimed at the expansion of the regional rail corridor, aimed for both passenger & freight rail
Hence, with increasing investments in railway infrastructure development, the demand for rolling stock & its components would also escalate in the coming years.
What segments define the Rolling Stock & Component Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Rolling Stock Type
(Locomotives, (Diesel Locomotive, Electric Locomotive, Electro-Diesel Locomotive), Rapid Transit, (Diesel Multiple Units (DMUS), Electric Multiple Units (EMUS), Light Rails/Trams, Subway/Metros, Monorails), Others (Wagons, Hyperloops, etc.)),
By Component Type
(Propulsion Systems, (Engines, Traction Motors, Gearboxes, Auxillary Power Systems), Train Control Systems, (Electric Control Units, Signaling Systems), Braking Systems, (Brake Discs & Pads, Brake Control Units), Train Interior Systems, (Cabin Interiors, HVAC, Lighting Systems), Electrical Systems, (Batteries, Communication Systems, Pantographs), Traction and Transmission Systems, (Axles & Wheelsets, Shafts & Couplers), Others (Bearings, Fuel systems, etc.)),
By Locomotive Technology
(Conventional Locomotives, Turbocharged Locomotives, Maglev Locomotives),
By Application
(Passenger Transportation, Freight Transportation)
Region
(North America, Europe, Asia-Pacific, Rest of the World)
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Who are the leading key players shaping the Rolling Stock & Component Market landscape?
CRRC Corporation Limited, Alstom SA, Siemens AG, Kawasaki Heavy Industries, Stadler Rail AG, Wabtec Corporation, CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., Mitsubishi Corporation, Allied CAT (Caterpillar Brand), Transmash Holding, Titagarh Wagons, Hitachi Rail Ltd., WOOJIN Electric Machinery Co., Ltd., ABB Group, DEUTA-WERKE GmbH, Deutsche-Bahn, Echjay Forgings Pvt. Ltd., and others
Questions Addressed in this Study
1.What factors are driving the Rolling Stock & Component Market growth?
2.How is the Rolling Stock & Component Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Rolling Stock & Component Market?
4.What is the current size of the Rolling Stock & Component Market, and how is it projected to change in the future?
6.What is the future outlook for the Rolling Stock & Component Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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