According to BlueWeave Consulting, the Global Rolling Stock Market is expected to grow with a significant rate during the forecast period 2019-2025 owing to the easy transportation with benefits like cost-effectiveness, reliability, and comfort. In some countries like the U.S., rolling stock term is also referred for the wheeled vehicles used by for businesses on roadways. Requisite for reduced traffic, cost efficiency and reliability has boosted the adoption of rolling stock for transportation of passengers, goods, and animals. Better speed and comfort offered by high-speed trains and maglev trains has driven passenger preference from conventional to advanced trains.
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With the growing population in cities, demand for rapid urban transport is increasing which is driving the demand for rolling stocks. Several developed countries, as well as emerging countries, are focusing on expanding their rail network for a better standard of living and economic growth. Urban rail transit like metro and trams have emerged as reliable modes of city transport. Furthermore, government initiatives to promote public transport as a means of reducing traffic congestion and pollution is also boosting the global rolling stock market.
· September 2018: CRRC Corporation Limited (CRRC) signed a strategic agreement with TÜV Rheinland to improve their collaborative services including international compliance testing and certification of rolling stocks.
· September 2018: Alstom received worth 315 million euro contract by the Mumbai Metro Rail Corporation Limited (MMRCL) for Mumbai Metro Line 3 to supply 248 metro cars
· March 2018: Siemens announced the investment of 200 million euros to start rolling stocks factory at Goole in the East Riding of Yorkshire, UK. The company got approval from the Orange County Transportation Authority to supply vehicles for the county’s Streetcar project.
The application segment of the global rolling stock market is led by freight transportation. Factors like growing urbanization and communication innovations are projected to amplify the freight transport market. Owing to globalization, companies are trading at an international level requiring safer, more flexible and high capacity transportation options. Freight transport allows the companies to deliver the goods in quick time, and at a minimal cost. Flow in the international trade along with a number of trade blocks is projected to optimistically influence the freight transport market over the forecast period. Demand for passenger transportation has been continuously growing globally.
Global Rolling Stock Market by region can be sub-divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to be the most lucrative region for rolling stock market in the coming years. Growing population in the Asia Pacific region especially China, Japan, and India has surged the demand for freight transport and boosted the market growth. Additionally, the high adoption of metro and electric trains among countries is expected to create numerous opportunities in the rolling stacks market. The Middle East and Africa is projected to be the fastest-growing region over the forecast period due to growing applications of rolling stock in the oil & gas and mining industries for the transportation of goods.
Companies such as Dell CRRC, Bombardier, Alstom, Siemens, Kawasaki Heavy Industries, General Electric, Transmashholding, Stadler, Construcciones Y Auxiliar De Ferrocarriles (CAF), Hyundai Rotem, Mitsubishi Heavy Industries, Talgo, Hitachi, ABB, Toshiba, Woojin Industrial Systems, Thales Group, American Equipment Company, Chittaranjan Locomotive Works (CLW), and UGL are the leading players of rolling stock market across the globe.