Rolling stock market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period (2024-2031). The market growth is driven by the increase in allocation of the budget for development of the railways sector, rise in demand for secure, safer, & efficient transport, and increase in use of public transport services. Additionally, increase in development & testing of autonomous train, improvement in railway infrastructure and rise in industrial & mining activity are contributing significantly towards market growth. Also, the rolling stock manufacturers have been working for technological advancement and innovations. The governments are contributing significantly towards market growth.
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The Indian government has allocated a significant budget for railway development in the fiscal year 2024-25. The interim budget for 2024-25 hasRs2.5lakh crore ($30.0 billion)for Indian Railway development. The budget focuses on the implementation of three major economic railway corridor programs aimed at enhancing logistics efficiency and reducing costs. Similarly, a New Railway Operating Plan in China has been implemented from January 2024 for 22,264 Freight trains. South Korea has approved an investment of $100.0 billion over the next 10 years to expand the rail network. This plan aims to increase the capacity of the rail network by 125.0%.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Rolling Stock Market Report Segment
By Type
- Locomotive
- Rapid Transit Vehicle
- Wagon
By Source
- Diesel
- Electric
By Applications
- Rail Freight
- Passenger Rail
Global Rolling Stock Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
The rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rolling stock market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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