Rolling Stock
Rolling Stock Market Forecasts to 2030 - Global Analysis By Product (Locomotives, Rapid Transit Vehicles, Wagons & Freight Cars, Passenger Coaches and Other Products), Locomotive Type, Component, Technology, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $29.73 BN |
|
Projected Year Value (2030) |
US $42.51 BN |
|
CAGR (2024 - 2030) |
7.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Rolling Stock Market is accounted for $29.73 billion in 2024 and is expected to reach $42.51 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Rolling stock refers to all the vehicles that move on a railway track, including locomotives, passenger coaches, freight wagons, and maintenance vehicles. It is a key component of railway operations, essential for transporting goods and passengers. Rolling stock can be self-propelled, like locomotives and multiple units, or non-powered, such as freight wagons and passenger cars. Modern rolling stock incorporates advanced technology for efficiency, safety, and comfort.
According to Worldwiderail, diesel locomotives cost between USD 0.5 and 2 million, while electric locomotives cost more than USD 6 million, making retrofitting diesel locomotives with battery systems more viable and re-manufacturing locomotives can cost nearly 40% less than purchasing new ones.
Market Dynamics:
Driver:
Increasing demand for efficient public transport
As urban populations expand, cities are investing in modern rail systems to reduce traffic congestion, improve mobility, and enhance environmental sustainability. This demand has led to greater investment in advanced rolling stock, including high-speed trains, electric multiple units, and metro systems. The emphasis on reducing carbon emissions further accelerates the shift to electric and hybrid trains. Additionally, governments are prioritizing public transport as part of smart city initiatives, stimulating growth in rail infrastructure and rolling stock development, thereby expanding market opportunities.
Restraint:
Stringent government regulations
Rolling stock faces stringent government regulations due to safety, environmental, and operational standards. Regulations ensure passenger and freight safety, compliance with environmental norms, and the adoption of technology such as emissions control, signaling systems, and structural integrity. Manufacturers must invest heavily in compliance, which leads to higher prices for rolling stock. Additionally, adherence to diverse regional standards can delay product development and international expansion, slowing market growth, especially in cost-sensitive regions.
Opportunity:
Electrification & green mobility
Electrification reduces reliance on fossil fuels, cuts emissions, and lowers operational costs for rail operators, making it an attractive option for governments and businesses focused on reducing their carbon footprint. The push for high-speed trains, hybrid locomotives, and electric-powered freight cars supports the growth of the market. Additionally, advancements in battery technologies, such as battery-electric trains, and the integration of renewable energy sources further enhance the adoption of green mobility solutions, spurring continued innovation and investment in the rolling stock industry.
Threat:
High initial investment & maintenance costs
Rolling stock requires a high initial investment due to the cost of manufacturing specialized vehicles, such as locomotives and freight cars, along with the need for advanced technology and materials. Additionally, ongoing maintenance costs arise from the need to ensure safety, reliability, and compliance with stringent regulations. Regular inspections, repairs, and spare parts also contribute to these expenses. These high costs can deter investment, especially in developing markets, slowing the expansion of rail networks and limiting the growth potential of the rolling stock market.
Covid-19 Impact:
The covid-19 pandemic significantly disrupted the rolling stock market by causing delays in manufacturing, supply chain interruptions, and a reduction in demand for rail transport during lockdowns. Freight transportation was affected due to global trade slowdowns, while passenger rail services saw ridership drops due to travel restrictions. Additionally, investments in new rail infrastructure slowed, and maintenance schedules were delayed. However, as recovery progresses, demand for freight services and high-speed rail networks is expected to drive market growth.
The wagons & freight cars segment is expected to be the largest during the forecast period
The wagons & freight cars segment is expected to account for the largest market share during the forecast period. Wagons and freight cars are essential components of rolling stock, designed for transporting goods across rail networks. They come in various types, including boxcars, flatcars, tankers, and hopper cars, each designed for specific cargo like bulk materials, liquids, or containers. The demand for freight cars is driven by global trade, e-commerce growth, and the need for efficient, cost-effective transportation.
The freight transportation segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the freight transportation segment is predicted to witness the highest growth rate. In freight transportation, rolling stock plays a crucial role in moving goods efficiently across vast distances. Freight trains rely on various rolling stock types, including boxcars, flatcars, tank cars, and hopper cars, to transport a wide range of commodities, from bulk materials to containers and liquids. The increasing demand for cost-effective, sustainable, and reliable transportation solutions drives the adoption of modern, high-capacity freight cars.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to rapid urbanization, expanding rail networks, and government initiatives promoting sustainable transportation. Countries like China, India, Japan, and South Korea are investing heavily in high-speed rail systems, electrification, and modern rolling stock. The demand for efficient freight transportation also fuels market growth. The region's focus on technological advancements, including smart rail systems and green mobility, further accelerates the market.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR driven by the increasing investments in freight rail infrastructure and passenger rail modernization. The U.S. and Canada are focusing on upgrading aging rail systems and expanding high-speed rail networks. Additionally, the booming e-commerce and logistics industries are boosting freight rail demand. Government funding for infrastructure projects, such as the U.S. Infrastructure Bill, further supports the market growth.
Key players in the market
Some of the key players in Rolling Stock market include Siemens AG, Bombardier Inc., Kawasaki Heavy Industries Limited, Hitachi Limited, Hyundai Rotem Company, Wabtec Corporation, CRRC Corporation Limited, Alstom SA, Mitsubishi Heavy Industries Limited, ABB Limited, PESA Bydgoszcz SA, Newag SA, Integral Coach Factory (ICF), BEML Limited, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles (CAF), National Steel Car Limited and Skoda Transportation.
Key Developments:
In February 2025, Alstom announced the arrival of its first four-car hydrogen train in Rovato, Italy. Rovato has been equipped with a dedicated maintenance center and a hydrogen refueling station to support the testing and future operations of these trains. This infrastructure is crucial for the seamless integration of hydrogen-powered trains into regular service.
In December 2024, Hitachi Rail entered into a £500 million agreement with FirstGroup plc and Angel Trains Limited to supply 14 new five-car Class 80X trains. These trains are set to be manufactured at Hitachi's Newton Aycliffe facility in County Durham, UK, bolstering local employment and the nation's rail manufacturing sector.
Products Covered:
• Locomotives
• Rapid Transit Vehicles
• Wagons & Freight Cars
• Passenger Coaches
• Other Products
Locomotive Types Covered:
• Conventional Locomotives
• Bullet Trains / High-Speed Trains
• Maglev Trains
• Hybrid & Hydrogen-Powered Locomotives
• Other Locomotive Types
Components Covered:
• Propulsion System
• Auxiliary Power Units
• Braking System
• Couplers
• Wheels & Axles
• Suspension System
• Other Components
Technologies Covered:
• Diesel
• Electric
• Battery Operated
• Hydrogen Fuel Cell
• Other Technologies
Applications Covered:
• Passenger Transportation
• Freight Transportation
End Users Covered:
• Rail Operators & Transit Authorities
• Freight & Logistics Companies
• Private Railway Operators
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Rolling Stock Market, By Product
5.1 Introduction
5.2 Locomotives
5.3 Rapid Transit Vehicles
5.4 Wagons & Freight Cars
5.5 Passenger Coaches
5.6 Other Products
6 Global Rolling Stock Market, By Locomotive Type
6.1 Introduction
6.2 Conventional Locomotives
6.3 Bullet Trains / High-Speed Trains
6.4 Maglev Trains
6.5 Hybrid & Hydrogen-Powered Locomotives
6.6 Other Locomotive Types
7 Global Rolling Stock Market, By Component
7.1 Introduction
7.2 Propulsion System
7.3 Auxiliary Power Units
7.4 Braking System
7.5 Couplers
7.6 Wheels & Axles
7.7 Suspension System
7.8 Other Components
8 Global Rolling Stock Market, By Technology
8.1 Introduction
8.2 Diesel
8.3 Electric
8.4 Battery Operated
8.5 Hydrogen Fuel Cell
8.6 Other Technologies
9 Global Rolling Stock Market, By Application
9.1 Introduction
9.2 Passenger Transportation
9.3 Freight Transportation
10 Global Rolling Stock Market, By End User
10.1 Introduction
10.2 Rail Operators & Transit Authorities
10.3 Freight & Logistics Companies
10.4 Private Railway Operators
10.5 Other End Users
11 Global Rolling Stock Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.11 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.11 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.11 Middle East & Africa
11.11.1 Saudi Arabia
11.11.2 UAE
11.11.3 Qatar
11.11.4 South Africa
11.11.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Siemens AG
13.2 Bombardier Inc.
13.3 Kawasaki Heavy Industries Limited
13.4 Hitachi Limited
13.5 Hyundai Rotem Company
13.6 Wabtec Corporation
13.7 CRRC Corporation Limited
13.8 Alstom SA
13.9 Mitsubishi Heavy Industries Limited
13.10 ABB Limited
13.11 PESA Bydgoszcz SA
13.12 Newag SA
13.13 Integral Coach Factory (ICF)
13.14 BEML Limited
13.15 Stadler Rail AG
13.16 Construcciones y Auxiliar de Ferrocarriles (CAF)
13.17 National Steel Car Limited
13.18 Skoda Transportation
List of Tables
1 Global Rolling Stock Market Outlook, By Region (2022-2030) ($MN)
2 Global Rolling Stock Market Outlook, By Product (2022-2030) ($MN)
3 Global Rolling Stock Market Outlook, By Locomotives (2022-2030) ($MN)
4 Global Rolling Stock Market Outlook, By Rapid Transit Vehicles (2022-2030) ($MN)
5 Global Rolling Stock Market Outlook, By Wagons & Freight Cars (2022-2030) ($MN)
6 Global Rolling Stock Market Outlook, By Passenger Coaches (2022-2030) ($MN)
7 Global Rolling Stock Market Outlook, By Other Products (2022-2030) ($MN)
8 Global Rolling Stock Market Outlook, By Locomotive Type (2022-2030) ($MN)
9 Global Rolling Stock Market Outlook, By Conventional Locomotives (2022-2030) ($MN)
10 Global Rolling Stock Market Outlook, By Bullet Trains / High-Speed Trains (2022-2030) ($MN)
11 Global Rolling Stock Market Outlook, By Maglev Trains (2022-2030) ($MN)
12 Global Rolling Stock Market Outlook, By Hybrid & Hydrogen-Powered Locomotives (2022-2030) ($MN)
13 Global Rolling Stock Market Outlook, By Other Locomotive Types (2022-2030) ($MN)
14 Global Rolling Stock Market Outlook, By Component (2022-2030) ($MN)
15 Global Rolling Stock Market Outlook, By Propulsion System (2022-2030) ($MN)
16 Global Rolling Stock Market Outlook, By Auxiliary Power Units (2022-2030) ($MN)
17 Global Rolling Stock Market Outlook, By Braking System (2022-2030) ($MN)
18 Global Rolling Stock Market Outlook, By Couplers (2022-2030) ($MN)
19 Global Rolling Stock Market Outlook, By Wheels & Axles (2022-2030) ($MN)
20 Global Rolling Stock Market Outlook, By Suspension System (2022-2030) ($MN)
21 Global Rolling Stock Market Outlook, By Other Components (2022-2030) ($MN)
22 Global Rolling Stock Market Outlook, By Technology (2022-2030) ($MN)
23 Global Rolling Stock Market Outlook, By Diesel (2022-2030) ($MN)
24 Global Rolling Stock Market Outlook, By Electric (2022-2030) ($MN)
25 Global Rolling Stock Market Outlook, By Battery Operated (2022-2030) ($MN)
26 Global Rolling Stock Market Outlook, By Hydrogen Fuel Cell (2022-2030) ($MN)
27 Global Rolling Stock Market Outlook, By Other Technologies (2022-2030) ($MN)
28 Global Rolling Stock Market Outlook, By Application (2022-2030) ($MN)
29 Global Rolling Stock Market Outlook, By Passenger Transportation (2022-2030) ($MN)
30 Global Rolling Stock Market Outlook, By Freight Transportation (2022-2030) ($MN)
31 Global Rolling Stock Market Outlook, By End User (2022-2030) ($MN)
32 Global Rolling Stock Market Outlook, By Rail Operators & Transit Authorities (2022-2030) ($MN)
33 Global Rolling Stock Market Outlook, By Freight & Logistics Companies (2022-2030) ($MN)
34 Global Rolling Stock Market Outlook, By Private Railway Operators (2022-2030) ($MN)
35 Global Rolling Stock Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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