Rolling Stock Market by Component Product Type (Locomotive, Rapid Transit, & Coach), Locomotive Technology (Conventional, Turbocharged, & Maglev), Application (Passenger Transportation & Freight transportation) & Region - Global Forecast to 2028
Rolling Stock Market by Component Product Type (Locomotive, Rapid Transit, & Coach), Locomotive Technology (Conventional, Turbocharged, & Maglev), Application (Passenger Transportation & Freight transportation) & Region - Global Forecast to 2028
Abstract
The global rolling stock market, by value, is estimated to be 54.6 USD Billion in 2023 and is projected to reach 65.6 USD Billion by 2028, at a CAGR of 3.8% from 2023 to 2028. Rolling Stock market growth would be supported by favourable government policies and investment towards railway industry. In Addition to this, leisure travel has become increasingly popular across the globe. This significantly increases the demand for long-distance high-speed rail services as well as local light rail for tourists using public transport due to which demand for rolling stock will be high in the forecast period.
Globally, there has been a rapid increase in industrial activities. Industries need transportation networks to move raw materials and finished goods efficiently. Freight transportation by rail has proved to be more cost-effective and reliable compared to road transport. More than 1.42 billion metric tons of freight were transported in India through the railways during 2022. Increased mining activities in emerging economies are also expected to positively impact the market for freight transportation, which, in turn, is expected to propel the demand for freight wagons and locomotives.
According to the International Organizing Committee for the World Mining Congress (WMC) 2022, global mining production was 17.2 billion metric tons in 2020, and Asia accounted for 59.8% of the total production. In 2021, although passenger traffic in the railway industry has declined, freight transportation has increased at a significant rate worldwide. For example, freight transportation increased by 11% in Europe, 9% in the US, 12% in China, 25% in India, and 12% in Oceania. Therefore, mineral-rich countries are expected to expand their rail networks to enhance connectivity.
“Europe region holds the largest market share of EMUs segment.”
The passenger application in Europe accounts for the largest market share of the overall rolling stock market in the region. In Europe, EMUs are majorly used for passenger transportation to reduce emissions from rolling stock. In February 2023, České dráhy (ČD) launched a tender for the supply of 47 dual-voltage regional EMUs, including the provisioning of selected spare parts and complete services for a period of 15 years. USD 398 million is the estimated value of the contract.
The growth of the market in Asia Oceania can be attributed to the high usage of passenger transportation. Due to such developments, the demand for EMUs will increase during the forecast period. The demand for EMUs is expected to increase significantly due to new high-speed train lines in China and the demand for new vehicles in Russia, Japan, Brazil, and the US. In October 2022, Spanish operator Renfe placed a USD 200 million order with CAF for the supply of 29 commuter EMUs together with spare parts. The contract includes an option to extend the future scope of the contract to nine additional EMUs, plus extra cars to extend the units in the initial order.
“By, Locomotive technology, Conventional locomotive hold the largest market share in rolling stock market.”
The Asia Oceania region is the leading producer of rolling stock across the globe and is expected to retain this position during the forecast period for conventional locomotives. Developments in rail transport in Asia Oceania are expected to meet the increasing need for the modernization of the passenger transport system. Growing urbanization increases the development of additional public transportation to overcome issues related to traffic congestion in urban areas. Railway transport serves as a viable option to meet the demand for an urban commute as well as long-distance travel.
Various railway projects are in the developmental phase, with heavy investments. For example, in its Union Budget 2022-23, the Indian government allocated Rs. 140,367.13 crore (USD 18.40 billion) to the Ministry of Railways. In December 2022, Network Rail secured USD 37.1 billion in government funding for operational railway infrastructure in England and Wales for the next five years.
Also, In January 2023, Siemens AG received an order for 1,200 locomotives of 9,000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and the single largest order in the history of Siemens India. Developments in the field of electric locomotives are expected to fuel the growth of the rolling stock market. This is expected to boost the rolling stock market in the near future.
“Asia Oceania hold the largest market share in the coaches segment”
In terms of volume and value, the Asia Oceania market is projected to grow at the highest rate owing to increasing investments for developments in railway infrastructure in the region. The demand for passenger transportation is also expected to rise due to the increase in urbanization in regions such as Asia Oceania and Europe. In December 2022, the Moscow Metro signed a supplementary agreement with Transmashholding for the procurement of 500 additional rolling stock coaches.
In 2022, Indian Railways has selected seven companies to supply propulsion equipment for 58 160km/h Vande Bharat EMUs. Where Siemens will supply traction equipment for 16 trains and Alstom 9. For this purpose, Siemens is set partner with modern coach factory in Amethi, while Alstom will manufacturer its trains in partnership with a rail coach factory at Kapurthala. Thus, due to such developments, the demand for coaches will be high during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
•By Company Type: Tier I - 18%, Tier II - 42%, and OEMs - 40%
•By Designation: C Level Executives - 23%, Directors - 43%, and Others - 34%
•By Region: Asia Oceania-35%, Europe-25%, North America-20%, MEA-15%, RoW-5%
The rolling stock market comprises major companies such CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), and Wabtec Corporation (US).
Research Coverage:
The market study covers the rolling stock market size and future growth potential across different segments such as by product type, locomotive technology, component, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
•The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall rolling stock market and its subsegments.
•This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
•The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Analysis of key drivers (Increasing preference for railway-based public transport to reduce traffic congestion, Rising demand for energy-efficient transport, Increasing demand for comfort and safety, Increasing electrification of railway networks, Growth in rolling stock order), restraints (Refurbishment of existing rolling stock, Capital-intensive rolling stock), opportunities (Big data applications in rail industry, Increase in industrial and mining activities, Development of hydrogen fuel cell locomotives, Development of battery-operated trains, Development of solar-powered trains), and challenges (High overhaul and maintenance costs, Requirement of high R&D investments).
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the rolling stock market.
•Market Development: Comprehensive information about lucrative markets – the report analyses the rolling stock market across varied regions.
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the rolling stock market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), and Wabtec Corporation (US) among others in the electric rolling stock market.
•Strategies: The report also helps stakeholders understand the pulse of the automotive airbags & seatbelts market and provides them information on key market drivers, restraints, challenges, and opportunities.
Content
Table of Contents
1INTRODUCTION27
1.1STUDY OBJECTIVES27
1.2MARKET DEFINITION28
1.2.1INCLUSIONS AND EXCLUSIONS29
TABLE 1INCLUSIONS AND EXCLUSIONS FOR STUDY OF ROLLING STOCK MARKET29
1.3MARKET SCOPE31
FIGURE 1ROLLING STOCK MARKET SEGMENTATION31
1.3.1YEARS CONSIDERED32
1.4CURRENCY CONSIDERED32
TABLE 2CURRENCY EXCHANGE RATES32
1.5STAKEHOLDERS33
1.6SUMMARY OF CHANGES33
2RESEARCH METHODOLOGY34
2.1RESEARCH DATA34
FIGURE 2RESEARCH DESIGN34
FIGURE 3RESEARCH METHODOLOGY MODEL35
2.1.1SECONDARY DATA35
2.1.1.1List of key secondary sources35
2.1.1.2Key data from secondary sources36
2.1.2PRIMARY DATA37
2.1.2.1Key data from primary sources38
2.1.2.2List of participating companies for primary research38
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION, AND REGION39
2.1.2.3Major objectives of primary research39
2.1.2.4List of primary participants40
2.2MARKET ESTIMATION METHODOLOGY40
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING41
2.3MARKET SIZE ESTIMATION42
2.3.1BOTTOM-UP APPROACH42
FIGURE 6ROLLING STOCK MARKET SIZE: BOTTOM-UP APPROACH42
2.3.2TOP-DOWN APPROACH43
FIGURE 7MARKET SIZE ESTIMATION METHODOLOGY FOR ROLLING STOCK MARKET: TOP-DOWN APPROACH43
FIGURE 8ROLLING STOCK MARKET: MARKET ESTIMATION NOTES43
FIGURE 9ROLLING STOCK MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF ALSTOM SA REVENUE ESTIMATION44
2.4DATA TRIANGULATION45
FIGURE 10DATA TRIANGULATION METHODOLOGY45
2.5FACTOR ANALYSIS46
2.5.1FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES46
2.6RECESSION IMPACT ANALYSIS47
TABLE 3KEY COUNTRIES ROLLING STOCK SALES, 2022–202347
2.7RESEARCH ASSUMPTIONS47
2.8RESEARCH LIMITATIONS48
3EXECUTIVE SUMMARY49
FIGURE 11ROLLING STOCK MARKET OVERVIEW49
FIGURE 12ROLLING STOCK MARKET, BY REGION, 2023–202850
FIGURE 13WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD51
FIGURE 14KEY PLAYERS OPERATING IN ROLLING STOCK MARKET, BY REGION52
4PREMIUM INSIGHTS54
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ROLLING STOCK MARKET54
FIGURE 15RISING INVESTMENTS IN RAPID TRANSIT PROJECTS TO DRIVE MARKET54
4.2ROLLING STOCK MARKET SHARE, BY REGION54
FIGURE 16ASIA OCEANIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 202354
4.3ROLLING STOCK MARKET, BY PRODUCT TYPE55
FIGURE 17WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD55
4.4ROLLING STOCK MARKET, BY APPLICATION55
FIGURE 18FREIGHT TRANSPORTATION SEGMENT TO REGISTER HIGHER CAGR THAN PASSENGER TRANSPORTATION SEGMENT DURING FORECAST PERIOD55
4.5ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY56
FIGURE 19CONVENTIONAL LOCOMOTIVES SEGMENT TO LEADS THE MARKET FROM 2023 TO 202856
5MARKET OVERVIEW57
5.1INTRODUCTION57
TABLE 4ROLLING STOCK MARKET: IMPACT OF MARKET DYNAMICS58
5.2MARKET DYNAMICS59
FIGURE 20ROLLING STOCK MARKET: MARKET DYNAMICS59
5.2.1DRIVERS60
5.2.1.1Increasing push for railway-based public transport to reduce road traffic congestion60
FIGURE 21DRIVING TIME SPENT IN TRAFFIC CONGESTION IN US, 202261
5.2.1.2Rising need for energy-efficient transport61
FIGURE 22GLOBAL CO2 EMISSIONS FROM DIFFERENT TRANSPORT SEGMENTS, 2000-203061
5.2.1.3Increasing demand for comfort and safety62
5.2.1.4Increasing electrification of railway networks63
FIGURE 23ENERGY DEMAND IN RAILWAY INDUSTRY, BY COUNTRY, 2017–205063
5.2.1.5Growth in rolling stock orders63
FIGURE 24FLEET OF INDIAN LOCOMOTIVE STOCK64
5.2.2RESTRAINTS64
5.2.2.1Refurbishment of existing rolling stock65
5.2.2.2Requirement for significant investments65
5.2.3OPPORTUNITIES66
5.2.3.1Big data applications in rail industry66
5.2.3.2Increase in industrial and mining activities67
FIGURE 25DIFFERENT MODES OF FREIGHT TRANSPORTATION67
5.2.3.3Development of hydrogen fuel cell locomotives67
5.2.3.4Development of battery-operated trains68
5.2.3.5Development of solar-powered trains68
5.2.4CHALLENGES69
5.2.4.1High overhaul and maintenance costs69
5.2.4.2Requirement for high R&D investments70
5.3PRICING ANALYSIS70
FIGURE 26PRICING ANALYSIS BY PRODUCT TYPE70
5.4ECOSYSTEM ANALYSIS71
FIGURE 27ROLLING STOCK MARKET: ECOSYSTEM ANALYSIS71
FIGURE 28ROLLING STOCK MARKET: NEURAL NETWORK72
TABLE 5ROLE OF COMPANIES IN ROLLING STOCK ECOSYSTEM72
5.5MACROECONOMIC INDICATORS74
5.5.1GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES74
TABLE 6GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)74
TABLE 7REAL GDP GROWTH RATE (ANNUAL PERCENTAGE CHANGE AND FORECAST), BY MAJOR ECONOMIES, 2022–202675
TABLE 8GDP PER CAPITA TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2022–2026 (USD)76
5.6SUPPLY CHAIN ANALYSIS77
FIGURE 29SUPPLY CHAIN ANALYSIS: ROLLING STOCK MARKET77
5.6.1RAW MATERIAL/COMPONENT SUPPLIERS77
5.6.2ORIGINAL EQUIPMENT MANUFACTURERS77
5.6.3TIER 2 SUPPLIERS78
TABLE 9ROLLING STOCK MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES78
5.7CASE STUDY ANALYSIS79
5.7.1HELPING LEADING FRENCH MULTINATIONAL RAIL TRANSPORT COMPANY WITH LOCALIZATION PROGRAM IN INDIA79
FIGURE 30TECH MAHINDRA SOLUTION OFFERED79
5.7.2EXCAVATION OF BIG ANALOG DATA VALUE: COMPACTRIO & NI INSIGHTCM80
5.7.3GOLINC-M MODULES80
5.7.4INTELLIGENT ASSET MANAGEMENT (IAM)81
5.8PATENT ANALYSIS81
TABLE 10IMPORTANT PATENT REGISTRATIONS RELATED TO ROLLING STOCK MARKET81
5.9TECHNOLOGY ANALYSIS88
5.9.1MAGNETIC LEVITATION (MAGLEV) TRAINS88
5.9.1.1Advantages of maglev trains89
5.9.1.2High-speed railway vs. maglev trains90
TABLE 11HIGH-SPEED RAILWAY VS. MAGLEV RAILWAY SYSTEMS (200-MPH HIGH-SPEED RAILWAY & 250-MPH MAGLEV)90
5.9.1.3Ecological impact of maglev90
FIGURE 31ENERGY CONSUMPTION: ICE TRAIN VS. MAGLEV TRAIN (WATT-HOURS PER SEAT-KM)91
FIGURE 32CO2 EMISSIONS: ICE VS. MAGLEV TRAINS (GRAMS PER SEAT-KM)91
FIGURE 33FASTEST TRAINS, BY COUNTRY, 202292
5.9.2ROLLING STOCK REFURBISHMENT92
5.9.3DIGITALIZATION OF RAILWAYS92
5.9.4ARTICULATED AND NON-ARTICULATED TRAINS93
TABLE 12DIFFERENCES BETWEEN ARTICULATED AND NON-ARTICULATED TRAINS93
5.9.5TILTING AND NON-TILTING TRAINS94
5.9.6AUTONOMOUS TRAINS95
TABLE 13AUTONOMOUS TRAIN TECHNOLOGIES AND THEIR BENEFITS95
TABLE 14LEVEL OF AUTONOMY FOR ROLLING STOCK96
5.9.7BIG DATA ANALYTICS AND CLOUD COMPUTING IN ROLLING STOCK96
5.9.8DECARBONIZATION96
5.9.9INTERNET OF TRAINS97
5.9.10ARTIFICIAL INTELLIGENCE IN RAILWAY SECTOR97
5.10TARIFF AND REGULATORY LANDSCAPE97
5.10.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS98
TABLE 15NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS98
TABLE 16EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS99
TABLE 17ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS100
TABLE 18REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS101
5.11TRADE ANALYSIS101
FIGURE 34US: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)101
FIGURE 35CHINA: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)102
5.12KEY CONFERENCES AND EVENTS IN 2023–2024102
TABLE 19ROLLING STOCK MARKET: DETAILED LIST OF CONFERENCES AND EVENTS102
5.13KEY STAKEHOLDERS AND BUYING CRITERIA103
5.13.1KEY STAKEHOLDERS IN BUYING PROCESS103
FIGURE 36INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK PRODUCTS103
TABLE 20INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK PRODUCTS (%)103
5.13.2BUYING CRITERIA104
FIGURE 37KEY BUYING CRITERIA104
TABLE 21KEY BUYING CRITERIA104
5.14TRENDS AND DISRUPTIONS IMPACTING ROLLING STOCK MARKET105
FIGURE 38TRENDS AND DISRUPTIONS IMPACTING THE MARKET105
5.15ROLLING STOCK MARKET, MARKET SCENARIOS (2023–2028)105
5.15.1MOST LIKELY SCENARIO106
TABLE 22ROLLING STOCK MARKET: MOST LIKELY SCENARIO, BY REGION, 2023–2028 (USD MILLION)106
5.15.2OPTIMISTIC SCENARIO106
TABLE 23ROLLING STOCK MARKET: OPTIMISTIC SCENARIO, BY REGION, 2023–2028 (USD MILLION)106
5.15.3PESSIMISTIC SCENARIO107
TABLE 24ROLLING STOCK MARKET: PESSIMISTIC SCENARIO, BY REGION, 2023–2028 (USD MILLION)107
6ROLLING STOCK MARKET, BY COMPONENT108
6.1INTRODUCTION108
6.2TRAIN CONTROL SYSTEMS109
6.3PANTOGRAPHS109
6.4AXLES110
6.5WHEELSETS110
6.6TRACTION MOTORS110
6.7PASSENGER INFORMATION SYSTEMS111
6.8BRAKES111
6.9AIR CONDITIONING SYSTEMS111
6.10AUXILIARY POWER SYSTEMS111
6.11GEARBOXES112
6.12BAFFLE GEARS112
6.13COUPLERS112
7ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY113
7.1INTRODUCTION114
FIGURE 39CONVENTIONAL LOCOMOTIVES SEGMENT TO HOLD LARGER MARKET SHARE THAN TURBOCHARGED LOCOMOTIVES SEGMENT FROM 2023 TO 2028115
TABLE 25ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (UNITS)115
TABLE 26ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (UNITS)115
TABLE 27ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (USD MILLION)116
TABLE 28ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (USD MILLION)116
7.2CONVENTIONAL LOCOMOTIVES116
7.2.1INCREASE IN PASSENGER TRANSPORTATION TO DRIVE MARKET116
FIGURE 40ASIA OCEANIA TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD117
TABLE 29CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)117
TABLE 30CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)118
TABLE 31CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)118
TABLE 32CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)118
7.3TURBOCHARGED LOCOMOTIVES119
7.3.1GOVERNMENT REGULATIONS TO CREATE DEMAND FOR TURBOCHARGED LOCOMOTIVES119
FIGURE 41NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD119
TABLE 33TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)120
TABLE 34TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)120
TABLE 35TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)120
TABLE 36TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)121
7.4MAGLEV LOCOMOTIVES121
TABLE 37COMPARISON BETWEEN CONVENTIONAL HIGH-SPEED RAIL, MAGLEV, AND HYPERLOOP122
7.4.1TYPES OF MAGLEV LOCOMOTIVES123
7.4.1.1Electromagnetic suspension123
7.4.1.2Electrodynamic suspension123
7.4.1.3Inductrack123
7.5KEY PRIMARY INSIGHTS124
8ROLLING STOCK MARKET, BY PRODUCT TYPE125
8.1INTRODUCTION126
FIGURE 42RISING NEED FOR EFFICIENT, RELIABLE, AND COST-EFFECTIVE TRANSPORTATION OF GOODS TO CREATE DEMAND FOR WAGONS127
TABLE 38ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)127
TABLE 39ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)127
TABLE 40ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)128
TABLE 41ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)128
TABLE 42ROLLING STOCK MODELS, BY COMPANY129
8.2LOCOMOTIVES129
8.2.1RISING ELECTRIFICATION TO INCREASE DEMAND FOR ELECTRIC LOCOMOTIVES129
FIGURE 43DIESEL LOCOMOTIVES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD130
TABLE 43LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (UNITS)130
TABLE 44LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (UNITS)130
TABLE 45LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (USD MILLION)131
TABLE 46LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (USD MILLION)131
8.2.2DIESEL LOCOMOTIVES131
8.2.2.1Rising demand for diesel locomotives in non-electrified tracks to drive segment131
TABLE 47DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)132
TABLE 48DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)132
TABLE 49DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)133
TABLE 50DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)133
8.2.3ELECTRIC LOCOMOTIVES133
8.2.3.1Government investment toward zero emissions and advances in electric locomotive technology to create demand for electric locomotives133
TABLE 51ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)134
TABLE 52ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)134
TABLE 53ELECTRIC LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)135
TABLE 54ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)135
8.2.4ELECTRO-DIESEL LOCOMOTIVES135
8.2.4.1Increasing demand for efficient and environmentally friendly transportation to drive segment135
TABLE 55ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)136
TABLE 56ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)136
TABLE 57ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)137
TABLE 58ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)137
8.3RAPID TRANSIT138
8.3.1INCREASING DEMAND FOR PUBLIC TRANSPORTATION TO BOOST SEGMENT138
FIGURE 44EMUS SEGMENT TO LEAD RAPID TRANSIT MARKET DURING FORECAST PERIOD139
TABLE 59RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (UNITS)139
TABLE 60RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (UNITS)139
TABLE 61RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (USD MILLION)140
TABLE 62RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (USD MILLION)140
8.3.2DIESEL MULTIPLE UNITS (DMUS)140
8.3.2.1Non-feasibility of railway electrification in certain areas to drive demand for DMUs140
TABLE 63DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)141
TABLE 64DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)141
TABLE 65DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)141
TABLE 66DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)142
8.3.3ELECTRIC MULTIPLE UNITS (EMUS)142
8.3.3.1Rising passenger transportation in emerging economies to create demand for EMUs142
TABLE 67ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)142
TABLE 68ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)143
TABLE 69ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)143
TABLE 70ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)143
8.3.4LIGHT RAILS/TRAMS144
8.3.4.1Rising need to reduce road traffic congestion to drive demand for light rails144
TABLE 71LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (UNITS)144
TABLE 72LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (UNITS)144
TABLE 73LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (USD MILLION)145
TABLE 74LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (USD MILLION)145
8.3.5SUBWAYS/METROS146
8.3.5.1Rapid urbanization to create demand for metros146
TABLE 75SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (UNITS)146
TABLE 76SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (UNITS)146
TABLE 77SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (USD MILLION)147
TABLE 78SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (USD MILLION)147
8.3.6MONORAILS147
8.4COACHES148
8.4.1NEW TRAIN LAUNCHES TO DRIVE DEMAND FOR COACHES148
FIGURE 45ASIA OCEANIA TO HOLD LARGEST MARKET SHARE IN COACHES SEGMENT DURING FORECAST PERIOD149
TABLE 79COACHES MARKET, BY REGION, 2018–2022 (UNITS)149
TABLE 80COACHES MARKET, BY REGION, 2023–2028 (UNITS)149
TABLE 81COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)150
TABLE 82COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)150
8.5WAGONS151
8.5.1RISING FREIGHT TRANSPORTATION TO PROVIDE GROWTH OPPORTUNITIES151
FIGURE 46NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD151
TABLE 83WAGONS MARKET, BY REGION, 2018–2022 (UNITS)151
TABLE 84WAGONS MARKET, BY REGION, 2023–2028 (UNITS)152
TABLE 85WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)152
TABLE 86WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)152
8.6OTHERS153
8.6.1HYPERLOOP – FUTURE OF TRANSPORTATION153
8.7KEY PRIMARY INSIGHTS153
9ROLLING STOCK MARKET, BY APPLICATION154
9.1INTRODUCTION155
FIGURE 47FREIGHT TRANSPORTATION SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD155
TABLE 87ROLLING STOCK MARKET, BY APPLICATION, 2018–2022 (UNITS)156
TABLE 88ROLLING STOCK MARKET, BY APPLICATION, 2023–2028 (UNITS)156
TABLE 89ROLLING STOCK MARKET, BY APPLICATION, 2018–2022 (USD MILLION)156
TABLE 90ROLLING STOCK MARKET, BY APPLICATION, 2023–2028 (USD MILLION)156
9.2PASSENGER TRANSPORTATION157
9.2.1INCREASING URBANIZATION TO DRIVE PASSENGER TRANSPORTATION157
FIGURE 48LOCOMOTIVES TO LEAD PASSENGER TRANSPORTATION SEGMENT FROM 2023 TO 2028157
TABLE 91PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (UNITS)157
TABLE 92PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (UNITS)158
TABLE 93PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (USD MILLION)158
TABLE 94PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (USD MILLION)158
9.2.2LOCOMOTIVES159
9.2.2.1Increasing passenger travel via railways to drive demand for locomotives159
TABLE 95PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)159
TABLE 96PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)159
TABLE 97PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)160
TABLE 98PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)160
9.2.3COACHES161
9.2.3.1Preference for rail travel in Asia Oceania to boost demand for passenger coaches161
TABLE 99PASSENGER COACHES MARKET, BY REGION, 2018–2022 (UNITS)161
TABLE 100PASSENGER COACHES MARKET, BY REGION, 2023–2028 (UNITS)161
TABLE 101PASSENGER COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)162
TABLE 102PASSENGER COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)162
9.3FREIGHT TRANSPORTATION162
9.3.1RISE IN TRADE ACTIVITY TO INCREASE DEMAND FOR FREIGHT TRANSPORTATION162
FIGURE 49FREIGHT TRANSPORTATION SERVICES INDEX, JANUARY 2022–FEBRUARY 2023163
FIGURE 50WAGONS TO HOLD LARGER MARKET SHARE IN FREIGHT TRANSPORTATION SEGMENT DURING FORECAST PERIOD163
TABLE 103FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (UNITS)164
TABLE 104FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (UNITS)164
TABLE 105FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (USD MILLION)164
TABLE 106FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (USD MILLION)164
9.3.2LOCOMOTIVES165
9.3.2.1Increasing global trade and e-commerce activities to increase demand for freight locomotives165
TABLE 107FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)165
TABLE 108FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)165
TABLE 109FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)166
TABLE 110FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)166
9.3.3WAGONS167
9.3.3.1Improvements to railway network in Asia Oceania to increase demand for freight wagons167
TABLE 111FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (UNITS)167
TABLE 112FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (UNITS)167
TABLE 113FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)168
TABLE 114FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)168
9.4KEY PRIMARY INSIGHTS168
10ROLLING STOCK MARKET, BY REGION169
10.1INTRODUCTION170
FIGURE 51ASIA OCEANIA TO LEAD MARKET DURING FORECAST PERIOD171
TABLE 115ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)171
TABLE 116ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)171
TABLE 117ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)172
TABLE 118ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)172
10.2ASIA OCEANIA173
10.2.1ASIA OCEANIA: RECESSION IMPACT173
10.2.2EXISTING/UPCOMING RAPID TRANSIT PROJECTS IN ASIA OCEANIA174
TABLE 119MAJOR RAPID TRANSIT PROJECTS IN ASIA OCEANIA174
10.2.3UPCOMING LIGHT RAIL PROJECTS IN ASIA OCEANIA175
TABLE 120PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA175
10.2.4UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN ASIA OCEANIA176
TABLE 121MAJOR LIGHT RAIL PROJECTS IN ASIA OCEANIA176
FIGURE 52ASIA OCEANIA: ROLLING STOCK MARKET SNAPSHOT177
TABLE 122ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)177
TABLE 123ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)178
TABLE 124ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)178
TABLE 125ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)178
10.2.5CHINA179
10.2.5.1Growing investments in railway infrastructure to propel demand for rolling stock179
TABLE 126LIST OF RAILWAY PROJECTS UNDER CHINA BELT AND ROAD PROJECTS179
TABLE 127CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)180
TABLE 128CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)181
TABLE 129CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)181
TABLE 130CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)182
10.2.6INDIA182
10.2.6.1Rising investment in high-speed rail and rapid electrification of railway network to drive market182
TABLE 131LIST OF APPROVED METRO, METROLITE, AND METRO NEO PROJECTS IN INDIA183
FIGURE 53INDIAN RAILWAY REVENUE BREAKDOWN, BY SEGMENT, 2022183
TABLE 132INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)183
TABLE 133INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)184
TABLE 134INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)184
TABLE 135INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)185
10.2.7JAPAN185
10.2.7.1Growing procurement of rolling stock to propel market growth185
TABLE 136JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)186
TABLE 137JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)186
TABLE 138JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)187
TABLE 139JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)187
10.2.8SOUTH KOREA188
10.2.8.1Development of new railway lines to fuel demand for rolling stock188
TABLE 140SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)188
TABLE 141SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)189
TABLE 142SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)189
TABLE 143SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)190
10.2.9AUSTRALIA190
10.2.10MALAYSIA191
10.3EUROPE191
10.3.1EUROPE: RECESSION IMPACT191
10.3.2UPCOMING METRO/MONORAIL PROJECTS IN EUROPE192
TABLE 144MAJOR METRO/MONORAIL PROJECTS IN EUROPE192
10.3.3UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE193
TABLE 145PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE193
10.3.4UPCOMING RAPID TRANSIT PROJECTS IN EUROPE194
TABLE 146MAJOR RAPID TRANSIT PROJECTS IN EUROPE194
FIGURE 54EUROPE: ROLLING STOCK MARKET SNAPSHOT195
TABLE 147EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)195
TABLE 148EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)196
TABLE 149EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)196
TABLE 150EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)196
10.3.5GERMANY197
10.3.5.1Upgrades to railway infrastructure to drive market197
TABLE 151GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)197
TABLE 152GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)198
TABLE 153GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)198
TABLE 154GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)199
10.3.6FRANCE199
10.3.6.1Growing need for public transportation and rising demand for high-speed rail to impact market positively199
TABLE 155FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)200
TABLE 156FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)200
TABLE 157FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)201
TABLE 158FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)201
10.3.7UK202
10.3.7.1Modernization and expansion of rail networks to create demand for rolling stock202
TABLE 159UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)202
TABLE 160UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)202
TABLE 161UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)203
TABLE 162UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)203
10.3.8ITALY204
10.3.8.1Increasing modernization and expansion of existing railway network to drive demand for rolling stock204
TABLE 163ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)204
TABLE 164ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)204
TABLE 165ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)205
TABLE 166ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)205
10.3.9SPAIN206
10.3.9.1Increasing high-speed rail network and presence of reputed rolling stock manufacturers to drive market206
TABLE 167POPULAR ROUTE IN SPAIN, 2022206
TABLE 168SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)206
TABLE 169SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)207
TABLE 170SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)207
TABLE 171SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)208
10.3.10SWITZERLAND208
10.3.11AUSTRIA208
10.3.12SWEDEN209
10.4NORTH AMERICA209
10.4.1NORTH AMERICA: RECESSION IMPACT209
10.4.2UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA210
TABLE 172MAJOR HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA210
10.4.3UPCOMING RAPID TRANSIT PROJECTS IN NORTH AMERICA210
TABLE 173MAJOR RAPID TRANSIT PROJECTS IN NORTH AMERICA210
FIGURE 55NORTH AMERICA: ROLLING STOCK MARKET SNAPSHOT211
TABLE 174NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)211
TABLE 175NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)212
TABLE 176NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)212
TABLE 177NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)212
10.4.4US213
10.4.4.1Demand for electric locomotives and transition to Tier 4 emission requirements to drive market213
TABLE 178US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)213
TABLE 179US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)214
TABLE 180US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)214
TABLE 181US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)215
10.4.5MEXICO215
10.4.5.1Growing demand for railroad wagons to drive market215
TABLE 182MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)216
TABLE 183MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)216
TABLE 184MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)217
TABLE 185MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)217
10.4.6CANADA218
10.4.6.1Rising passenger and freight transportation to increase demand for rolling stock218
TABLE 186CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)218
TABLE 187CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)219
TABLE 188CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)219
TABLE 189CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)220
10.5MIDDLE EAST & AFRICA220
10.5.1MIDDLE EAST & AFRICA: RECESSION IMPACT221
FIGURE 56UAE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD221
10.5.2UPCOMING METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA221
TABLE 190PROPOSED METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA221
10.5.3UPCOMING RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA222
TABLE 191PROPOSED RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA222
TABLE 192MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)223
TABLE 193MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)223
TABLE 194MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)223
TABLE 195MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)224
10.5.4SOUTH AFRICA224
10.5.4.1Increasing urbanization to boost rolling stock market224
TABLE 196SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)224
TABLE 197SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)225
TABLE 198SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)225
TABLE 199SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)226
10.5.5UAE226
10.5.5.1Rising tourism industry and increased investment in rapid transit projects to proliferate demand for rolling stock226
TABLE 200UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)227
TABLE 201UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)227
TABLE 202UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)228
TABLE 203UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)228
10.5.6EGYPT229
10.5.6.1Investment and growth in tourism industry to drive market229
TABLE 204EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)229
TABLE 205EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)229
TABLE 206EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)230
TABLE 207EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)230
10.5.7IRAN231
10.6REST OF THE WORLD231
FIGURE 57RUSSIA TO HOLD PROMINENT MARKET SHARE DURING FORECAST PERIOD231
10.6.1UPCOMING METRO/MONORAIL PROJECTS IN REST OF THE WORLD232
TABLE 208MAJOR METRO/MONORAIL PROJECTS IN REST OF THE WORLD232
TABLE 209REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)232
TABLE 210REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)232
TABLE 211REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)232
TABLE 212REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)233
10.6.2BRAZIL233
10.6.2.1Growing demand for electro-diesel locomotives to drive market233
TABLE 213BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)233
TABLE 214BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)234
TABLE 215BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)234
TABLE 216BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)235
10.6.3RUSSIA235
10.6.3.1Growth in freight transportation to drive demand for wagons235
TABLE 217RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)236
TABLE 218RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)236
TABLE 219RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)237
TABLE 220RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)237
10.6.4ARGENTINA238
11COMPETITIVE LANDSCAPE239
11.1OVERVIEW239
11.2MARKET SHARE ANALYSIS FOR ROLLING STOCK MARKET239
TABLE 221MARKET SHARE ANALYSIS, 2022239
FIGURE 58MARKET SHARE ANALYSIS, 2022240
11.2.1CRRC CORPORATION LIMITED240
11.2.2ALSTOM SA240
11.2.3SIEMENS AG241
Globally, there has been a rapid increase in industrial activities. Industries need transportation networks to move raw materials and finished goods efficiently. Freight transportation by rail has proved to be more cost-effective and reliable compared to road transport. More than 1.42 billion metric tons of freight were transported in India through the railways during 2022. Increased mining activities in emerging economies are also expected to positively impact the market for freight transportation, which, in turn, is expected to propel the demand for freight wagons and locomotives.
According to the International Organizing Committee for the World Mining Congress (WMC) 2022, global mining production was 17.2 billion metric tons in 2020, and Asia accounted for 59.8% of the total production. In 2021, although passenger traffic in the railway industry has declined, freight transportation has increased at a significant rate worldwide. For example, freight transportation increased by 11% in Europe, 9% in the US, 12% in China, 25% in India, and 12% in Oceania. Therefore, mineral-rich countries are expected to expand their rail networks to enhance connectivity.
“Europe region holds the largest market share of EMUs segment.”
The passenger application in Europe accounts for the largest market share of the overall rolling stock market in the region. In Europe, EMUs are majorly used for passenger transportation to reduce emissions from rolling stock. In February 2023, České dráhy (ČD) launched a tender for the supply of 47 dual-voltage regional EMUs, including the provisioning of selected spare parts and complete services for a period of 15 years. USD 398 million is the estimated value of the contract.
The growth of the market in Asia Oceania can be attributed to the high usage of passenger transportation. Due to such developments, the demand for EMUs will increase during the forecast period. The demand for EMUs is expected to increase significantly due to new high-speed train lines in China and the demand for new vehicles in Russia, Japan, Brazil, and the US. In October 2022, Spanish operator Renfe placed a USD 200 million order with CAF for the supply of 29 commuter EMUs together with spare parts. The contract includes an option to extend the future scope of the contract to nine additional EMUs, plus extra cars to extend the units in the initial order.
“By, Locomotive technology, Conventional locomotive hold the largest market share in rolling stock market.”
The Asia Oceania region is the leading producer of rolling stock across the globe and is expected to retain this position during the forecast period for conventional locomotives. Developments in rail transport in Asia Oceania are expected to meet the increasing need for the modernization of the passenger transport system. Growing urbanization increases the development of additional public transportation to overcome issues related to traffic congestion in urban areas. Railway transport serves as a viable option to meet the demand for an urban commute as well as long-distance travel.
Various railway projects are in the developmental phase, with heavy investments. For example, in its Union Budget 2022-23, the Indian government allocated Rs. 140,367.13 crore (USD 18.40 billion) to the Ministry of Railways. In December 2022, Network Rail secured USD 37.1 billion in government funding for operational railway infrastructure in England and Wales for the next five years.
Also, In January 2023, Siemens AG received an order for 1,200 locomotives of 9,000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and the single largest order in the history of Siemens India. Developments in the field of electric locomotives are expected to fuel the growth of the rolling stock market. This is expected to boost the rolling stock market in the near future.
“Asia Oceania hold the largest market share in the coaches segment”
In terms of volume and value, the Asia Oceania market is projected to grow at the highest rate owing to increasing investments for developments in railway infrastructure in the region. The demand for passenger transportation is also expected to rise due to the increase in urbanization in regions such as Asia Oceania and Europe. In December 2022, the Moscow Metro signed a supplementary agreement with Transmashholding for the procurement of 500 additional rolling stock coaches.
In 2022, Indian Railways has selected seven companies to supply propulsion equipment for 58 160km/h Vande Bharat EMUs. Where Siemens will supply traction equipment for 16 trains and Alstom 9. For this purpose, Siemens is set partner with modern coach factory in Amethi, while Alstom will manufacturer its trains in partnership with a rail coach factory at Kapurthala. Thus, due to such developments, the demand for coaches will be high during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
•By Company Type: Tier I - 18%, Tier II - 42%, and OEMs - 40%
•By Designation: C Level Executives - 23%, Directors - 43%, and Others - 34%
•By Region: Asia Oceania-35%, Europe-25%, North America-20%, MEA-15%, RoW-5%
The rolling stock market comprises major companies such CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), and Wabtec Corporation (US).
Research Coverage:
The market study covers the rolling stock market size and future growth potential across different segments such as by product type, locomotive technology, component, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
•The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall rolling stock market and its subsegments.
•This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
•The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Analysis of key drivers (Increasing preference for railway-based public transport to reduce traffic congestion, Rising demand for energy-efficient transport, Increasing demand for comfort and safety, Increasing electrification of railway networks, Growth in rolling stock order), restraints (Refurbishment of existing rolling stock, Capital-intensive rolling stock), opportunities (Big data applications in rail industry, Increase in industrial and mining activities, Development of hydrogen fuel cell locomotives, Development of battery-operated trains, Development of solar-powered trains), and challenges (High overhaul and maintenance costs, Requirement of high R&D investments).
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the rolling stock market.
•Market Development: Comprehensive information about lucrative markets – the report analyses the rolling stock market across varied regions.
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the rolling stock market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), and Wabtec Corporation (US) among others in the electric rolling stock market.
•Strategies: The report also helps stakeholders understand the pulse of the automotive airbags & seatbelts market and provides them information on key market drivers, restraints, challenges, and opportunities.
1INTRODUCTION27
1.1STUDY OBJECTIVES27
1.2MARKET DEFINITION28
1.2.1INCLUSIONS AND EXCLUSIONS29
TABLE 1INCLUSIONS AND EXCLUSIONS FOR STUDY OF ROLLING STOCK MARKET29
1.3MARKET SCOPE31
FIGURE 1ROLLING STOCK MARKET SEGMENTATION31
1.3.1YEARS CONSIDERED32
1.4CURRENCY CONSIDERED32
TABLE 2CURRENCY EXCHANGE RATES32
1.5STAKEHOLDERS33
1.6SUMMARY OF CHANGES33
2RESEARCH METHODOLOGY34
2.1RESEARCH DATA34
FIGURE 2RESEARCH DESIGN34
FIGURE 3RESEARCH METHODOLOGY MODEL35
2.1.1SECONDARY DATA35
2.1.1.1List of key secondary sources35
2.1.1.2Key data from secondary sources36
2.1.2PRIMARY DATA37
2.1.2.1Key data from primary sources38
2.1.2.2List of participating companies for primary research38
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION, AND REGION39
2.1.2.3Major objectives of primary research39
2.1.2.4List of primary participants40
2.2MARKET ESTIMATION METHODOLOGY40
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING41
2.3MARKET SIZE ESTIMATION42
2.3.1BOTTOM-UP APPROACH42
FIGURE 6ROLLING STOCK MARKET SIZE: BOTTOM-UP APPROACH42
2.3.2TOP-DOWN APPROACH43
FIGURE 7MARKET SIZE ESTIMATION METHODOLOGY FOR ROLLING STOCK MARKET: TOP-DOWN APPROACH43
FIGURE 8ROLLING STOCK MARKET: MARKET ESTIMATION NOTES43
FIGURE 9ROLLING STOCK MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF ALSTOM SA REVENUE ESTIMATION44
2.4DATA TRIANGULATION45
FIGURE 10DATA TRIANGULATION METHODOLOGY45
2.5FACTOR ANALYSIS46
2.5.1FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES46
2.6RECESSION IMPACT ANALYSIS47
TABLE 3KEY COUNTRIES ROLLING STOCK SALES, 2022–202347
2.7RESEARCH ASSUMPTIONS47
2.8RESEARCH LIMITATIONS48
3EXECUTIVE SUMMARY49
FIGURE 11ROLLING STOCK MARKET OVERVIEW49
FIGURE 12ROLLING STOCK MARKET, BY REGION, 2023–202850
FIGURE 13WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD51
FIGURE 14KEY PLAYERS OPERATING IN ROLLING STOCK MARKET, BY REGION52
4PREMIUM INSIGHTS54
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ROLLING STOCK MARKET54
FIGURE 15RISING INVESTMENTS IN RAPID TRANSIT PROJECTS TO DRIVE MARKET54
4.2ROLLING STOCK MARKET SHARE, BY REGION54
FIGURE 16ASIA OCEANIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 202354
4.3ROLLING STOCK MARKET, BY PRODUCT TYPE55
FIGURE 17WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD55
4.4ROLLING STOCK MARKET, BY APPLICATION55
FIGURE 18FREIGHT TRANSPORTATION SEGMENT TO REGISTER HIGHER CAGR THAN PASSENGER TRANSPORTATION SEGMENT DURING FORECAST PERIOD55
4.5ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY56
FIGURE 19CONVENTIONAL LOCOMOTIVES SEGMENT TO LEADS THE MARKET FROM 2023 TO 202856
5MARKET OVERVIEW57
5.1INTRODUCTION57
TABLE 4ROLLING STOCK MARKET: IMPACT OF MARKET DYNAMICS58
5.2MARKET DYNAMICS59
FIGURE 20ROLLING STOCK MARKET: MARKET DYNAMICS59
5.2.1DRIVERS60
5.2.1.1Increasing push for railway-based public transport to reduce road traffic congestion60
FIGURE 21DRIVING TIME SPENT IN TRAFFIC CONGESTION IN US, 202261
5.2.1.2Rising need for energy-efficient transport61
FIGURE 22GLOBAL CO2 EMISSIONS FROM DIFFERENT TRANSPORT SEGMENTS, 2000-203061
5.2.1.3Increasing demand for comfort and safety62
5.2.1.4Increasing electrification of railway networks63
FIGURE 23ENERGY DEMAND IN RAILWAY INDUSTRY, BY COUNTRY, 2017–205063
5.2.1.5Growth in rolling stock orders63
FIGURE 24FLEET OF INDIAN LOCOMOTIVE STOCK64
5.2.2RESTRAINTS64
5.2.2.1Refurbishment of existing rolling stock65
5.2.2.2Requirement for significant investments65
5.2.3OPPORTUNITIES66
5.2.3.1Big data applications in rail industry66
5.2.3.2Increase in industrial and mining activities67
FIGURE 25DIFFERENT MODES OF FREIGHT TRANSPORTATION67
5.2.3.3Development of hydrogen fuel cell locomotives67
5.2.3.4Development of battery-operated trains68
5.2.3.5Development of solar-powered trains68
5.2.4CHALLENGES69
5.2.4.1High overhaul and maintenance costs69
5.2.4.2Requirement for high R&D investments70
5.3PRICING ANALYSIS70
FIGURE 26PRICING ANALYSIS BY PRODUCT TYPE70
5.4ECOSYSTEM ANALYSIS71
FIGURE 27ROLLING STOCK MARKET: ECOSYSTEM ANALYSIS71
FIGURE 28ROLLING STOCK MARKET: NEURAL NETWORK72
TABLE 5ROLE OF COMPANIES IN ROLLING STOCK ECOSYSTEM72
5.5MACROECONOMIC INDICATORS74
5.5.1GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES74
TABLE 6GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)74
TABLE 7REAL GDP GROWTH RATE (ANNUAL PERCENTAGE CHANGE AND FORECAST), BY MAJOR ECONOMIES, 2022–202675
TABLE 8GDP PER CAPITA TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2022–2026 (USD)76
5.6SUPPLY CHAIN ANALYSIS77
FIGURE 29SUPPLY CHAIN ANALYSIS: ROLLING STOCK MARKET77
5.6.1RAW MATERIAL/COMPONENT SUPPLIERS77
5.6.2ORIGINAL EQUIPMENT MANUFACTURERS77
5.6.3TIER 2 SUPPLIERS78
TABLE 9ROLLING STOCK MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES78
5.7CASE STUDY ANALYSIS79
5.7.1HELPING LEADING FRENCH MULTINATIONAL RAIL TRANSPORT COMPANY WITH LOCALIZATION PROGRAM IN INDIA79
FIGURE 30TECH MAHINDRA SOLUTION OFFERED79
5.7.2EXCAVATION OF BIG ANALOG DATA VALUE: COMPACTRIO & NI INSIGHTCM80
5.7.3GOLINC-M MODULES80
5.7.4INTELLIGENT ASSET MANAGEMENT (IAM)81
5.8PATENT ANALYSIS81
TABLE 10IMPORTANT PATENT REGISTRATIONS RELATED TO ROLLING STOCK MARKET81
5.9TECHNOLOGY ANALYSIS88
5.9.1MAGNETIC LEVITATION (MAGLEV) TRAINS88
5.9.1.1Advantages of maglev trains89
5.9.1.2High-speed railway vs. maglev trains90
TABLE 11HIGH-SPEED RAILWAY VS. MAGLEV RAILWAY SYSTEMS (200-MPH HIGH-SPEED RAILWAY & 250-MPH MAGLEV)90
5.9.1.3Ecological impact of maglev90
FIGURE 31ENERGY CONSUMPTION: ICE TRAIN VS. MAGLEV TRAIN (WATT-HOURS PER SEAT-KM)91
FIGURE 32CO2 EMISSIONS: ICE VS. MAGLEV TRAINS (GRAMS PER SEAT-KM)91
FIGURE 33FASTEST TRAINS, BY COUNTRY, 202292
5.9.2ROLLING STOCK REFURBISHMENT92
5.9.3DIGITALIZATION OF RAILWAYS92
5.9.4ARTICULATED AND NON-ARTICULATED TRAINS93
TABLE 12DIFFERENCES BETWEEN ARTICULATED AND NON-ARTICULATED TRAINS93
5.9.5TILTING AND NON-TILTING TRAINS94
5.9.6AUTONOMOUS TRAINS95
TABLE 13AUTONOMOUS TRAIN TECHNOLOGIES AND THEIR BENEFITS95
TABLE 14LEVEL OF AUTONOMY FOR ROLLING STOCK96
5.9.7BIG DATA ANALYTICS AND CLOUD COMPUTING IN ROLLING STOCK96
5.9.8DECARBONIZATION96
5.9.9INTERNET OF TRAINS97
5.9.10ARTIFICIAL INTELLIGENCE IN RAILWAY SECTOR97
5.10TARIFF AND REGULATORY LANDSCAPE97
5.10.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS98
TABLE 15NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS98
TABLE 16EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS99
TABLE 17ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS100
TABLE 18REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS101
5.11TRADE ANALYSIS101
FIGURE 34US: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)101
FIGURE 35CHINA: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)102
5.12KEY CONFERENCES AND EVENTS IN 2023–2024102
TABLE 19ROLLING STOCK MARKET: DETAILED LIST OF CONFERENCES AND EVENTS102
5.13KEY STAKEHOLDERS AND BUYING CRITERIA103
5.13.1KEY STAKEHOLDERS IN BUYING PROCESS103
FIGURE 36INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK PRODUCTS103
TABLE 20INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK PRODUCTS (%)103
5.13.2BUYING CRITERIA104
FIGURE 37KEY BUYING CRITERIA104
TABLE 21KEY BUYING CRITERIA104
5.14TRENDS AND DISRUPTIONS IMPACTING ROLLING STOCK MARKET105
FIGURE 38TRENDS AND DISRUPTIONS IMPACTING THE MARKET105
5.15ROLLING STOCK MARKET, MARKET SCENARIOS (2023–2028)105
5.15.1MOST LIKELY SCENARIO106
TABLE 22ROLLING STOCK MARKET: MOST LIKELY SCENARIO, BY REGION, 2023–2028 (USD MILLION)106
5.15.2OPTIMISTIC SCENARIO106
TABLE 23ROLLING STOCK MARKET: OPTIMISTIC SCENARIO, BY REGION, 2023–2028 (USD MILLION)106
5.15.3PESSIMISTIC SCENARIO107
TABLE 24ROLLING STOCK MARKET: PESSIMISTIC SCENARIO, BY REGION, 2023–2028 (USD MILLION)107
6ROLLING STOCK MARKET, BY COMPONENT108
6.1INTRODUCTION108
6.2TRAIN CONTROL SYSTEMS109
6.3PANTOGRAPHS109
6.4AXLES110
6.5WHEELSETS110
6.6TRACTION MOTORS110
6.7PASSENGER INFORMATION SYSTEMS111
6.8BRAKES111
6.9AIR CONDITIONING SYSTEMS111
6.10AUXILIARY POWER SYSTEMS111
6.11GEARBOXES112
6.12BAFFLE GEARS112
6.13COUPLERS112
7ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY113
7.1INTRODUCTION114
FIGURE 39CONVENTIONAL LOCOMOTIVES SEGMENT TO HOLD LARGER MARKET SHARE THAN TURBOCHARGED LOCOMOTIVES SEGMENT FROM 2023 TO 2028115
TABLE 25ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (UNITS)115
TABLE 26ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (UNITS)115
TABLE 27ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (USD MILLION)116
TABLE 28ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (USD MILLION)116
7.2CONVENTIONAL LOCOMOTIVES116
7.2.1INCREASE IN PASSENGER TRANSPORTATION TO DRIVE MARKET116
FIGURE 40ASIA OCEANIA TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD117
TABLE 29CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)117
TABLE 30CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)118
TABLE 31CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)118
TABLE 32CONVENTIONAL LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)118
7.3TURBOCHARGED LOCOMOTIVES119
7.3.1GOVERNMENT REGULATIONS TO CREATE DEMAND FOR TURBOCHARGED LOCOMOTIVES119
FIGURE 41NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD119
TABLE 33TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)120
TABLE 34TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)120
TABLE 35TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)120
TABLE 36TURBOCHARGED LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)121
7.4MAGLEV LOCOMOTIVES121
TABLE 37COMPARISON BETWEEN CONVENTIONAL HIGH-SPEED RAIL, MAGLEV, AND HYPERLOOP122
7.4.1TYPES OF MAGLEV LOCOMOTIVES123
7.4.1.1Electromagnetic suspension123
7.4.1.2Electrodynamic suspension123
7.4.1.3Inductrack123
7.5KEY PRIMARY INSIGHTS124
8ROLLING STOCK MARKET, BY PRODUCT TYPE125
8.1INTRODUCTION126
FIGURE 42RISING NEED FOR EFFICIENT, RELIABLE, AND COST-EFFECTIVE TRANSPORTATION OF GOODS TO CREATE DEMAND FOR WAGONS127
TABLE 38ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)127
TABLE 39ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)127
TABLE 40ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)128
TABLE 41ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)128
TABLE 42ROLLING STOCK MODELS, BY COMPANY129
8.2LOCOMOTIVES129
8.2.1RISING ELECTRIFICATION TO INCREASE DEMAND FOR ELECTRIC LOCOMOTIVES129
FIGURE 43DIESEL LOCOMOTIVES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD130
TABLE 43LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (UNITS)130
TABLE 44LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (UNITS)130
TABLE 45LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (USD MILLION)131
TABLE 46LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (USD MILLION)131
8.2.2DIESEL LOCOMOTIVES131
8.2.2.1Rising demand for diesel locomotives in non-electrified tracks to drive segment131
TABLE 47DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)132
TABLE 48DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)132
TABLE 49DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)133
TABLE 50DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)133
8.2.3ELECTRIC LOCOMOTIVES133
8.2.3.1Government investment toward zero emissions and advances in electric locomotive technology to create demand for electric locomotives133
TABLE 51ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)134
TABLE 52ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)134
TABLE 53ELECTRIC LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)135
TABLE 54ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)135
8.2.4ELECTRO-DIESEL LOCOMOTIVES135
8.2.4.1Increasing demand for efficient and environmentally friendly transportation to drive segment135
TABLE 55ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)136
TABLE 56ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)136
TABLE 57ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)137
TABLE 58ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)137
8.3RAPID TRANSIT138
8.3.1INCREASING DEMAND FOR PUBLIC TRANSPORTATION TO BOOST SEGMENT138
FIGURE 44EMUS SEGMENT TO LEAD RAPID TRANSIT MARKET DURING FORECAST PERIOD139
TABLE 59RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (UNITS)139
TABLE 60RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (UNITS)139
TABLE 61RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (USD MILLION)140
TABLE 62RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (USD MILLION)140
8.3.2DIESEL MULTIPLE UNITS (DMUS)140
8.3.2.1Non-feasibility of railway electrification in certain areas to drive demand for DMUs140
TABLE 63DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)141
TABLE 64DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)141
TABLE 65DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)141
TABLE 66DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)142
8.3.3ELECTRIC MULTIPLE UNITS (EMUS)142
8.3.3.1Rising passenger transportation in emerging economies to create demand for EMUs142
TABLE 67ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)142
TABLE 68ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)143
TABLE 69ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)143
TABLE 70ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)143
8.3.4LIGHT RAILS/TRAMS144
8.3.4.1Rising need to reduce road traffic congestion to drive demand for light rails144
TABLE 71LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (UNITS)144
TABLE 72LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (UNITS)144
TABLE 73LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (USD MILLION)145
TABLE 74LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (USD MILLION)145
8.3.5SUBWAYS/METROS146
8.3.5.1Rapid urbanization to create demand for metros146
TABLE 75SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (UNITS)146
TABLE 76SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (UNITS)146
TABLE 77SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (USD MILLION)147
TABLE 78SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (USD MILLION)147
8.3.6MONORAILS147
8.4COACHES148
8.4.1NEW TRAIN LAUNCHES TO DRIVE DEMAND FOR COACHES148
FIGURE 45ASIA OCEANIA TO HOLD LARGEST MARKET SHARE IN COACHES SEGMENT DURING FORECAST PERIOD149
TABLE 79COACHES MARKET, BY REGION, 2018–2022 (UNITS)149
TABLE 80COACHES MARKET, BY REGION, 2023–2028 (UNITS)149
TABLE 81COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)150
TABLE 82COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)150
8.5WAGONS151
8.5.1RISING FREIGHT TRANSPORTATION TO PROVIDE GROWTH OPPORTUNITIES151
FIGURE 46NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD151
TABLE 83WAGONS MARKET, BY REGION, 2018–2022 (UNITS)151
TABLE 84WAGONS MARKET, BY REGION, 2023–2028 (UNITS)152
TABLE 85WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)152
TABLE 86WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)152
8.6OTHERS153
8.6.1HYPERLOOP – FUTURE OF TRANSPORTATION153
8.7KEY PRIMARY INSIGHTS153
9ROLLING STOCK MARKET, BY APPLICATION154
9.1INTRODUCTION155
FIGURE 47FREIGHT TRANSPORTATION SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD155
TABLE 87ROLLING STOCK MARKET, BY APPLICATION, 2018–2022 (UNITS)156
TABLE 88ROLLING STOCK MARKET, BY APPLICATION, 2023–2028 (UNITS)156
TABLE 89ROLLING STOCK MARKET, BY APPLICATION, 2018–2022 (USD MILLION)156
TABLE 90ROLLING STOCK MARKET, BY APPLICATION, 2023–2028 (USD MILLION)156
9.2PASSENGER TRANSPORTATION157
9.2.1INCREASING URBANIZATION TO DRIVE PASSENGER TRANSPORTATION157
FIGURE 48LOCOMOTIVES TO LEAD PASSENGER TRANSPORTATION SEGMENT FROM 2023 TO 2028157
TABLE 91PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (UNITS)157
TABLE 92PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (UNITS)158
TABLE 93PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (USD MILLION)158
TABLE 94PASSENGER TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (USD MILLION)158
9.2.2LOCOMOTIVES159
9.2.2.1Increasing passenger travel via railways to drive demand for locomotives159
TABLE 95PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)159
TABLE 96PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)159
TABLE 97PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)160
TABLE 98PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)160
9.2.3COACHES161
9.2.3.1Preference for rail travel in Asia Oceania to boost demand for passenger coaches161
TABLE 99PASSENGER COACHES MARKET, BY REGION, 2018–2022 (UNITS)161
TABLE 100PASSENGER COACHES MARKET, BY REGION, 2023–2028 (UNITS)161
TABLE 101PASSENGER COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)162
TABLE 102PASSENGER COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)162
9.3FREIGHT TRANSPORTATION162
9.3.1RISE IN TRADE ACTIVITY TO INCREASE DEMAND FOR FREIGHT TRANSPORTATION162
FIGURE 49FREIGHT TRANSPORTATION SERVICES INDEX, JANUARY 2022–FEBRUARY 2023163
FIGURE 50WAGONS TO HOLD LARGER MARKET SHARE IN FREIGHT TRANSPORTATION SEGMENT DURING FORECAST PERIOD163
TABLE 103FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (UNITS)164
TABLE 104FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (UNITS)164
TABLE 105FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2018–2022 (USD MILLION)164
TABLE 106FREIGHT TRANSPORTATION: ROLLING STOCK MARKET, BY TYPE, 2023–2028 (USD MILLION)164
9.3.2LOCOMOTIVES165
9.3.2.1Increasing global trade and e-commerce activities to increase demand for freight locomotives165
TABLE 107FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)165
TABLE 108FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)165
TABLE 109FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)166
TABLE 110FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)166
9.3.3WAGONS167
9.3.3.1Improvements to railway network in Asia Oceania to increase demand for freight wagons167
TABLE 111FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (UNITS)167
TABLE 112FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (UNITS)167
TABLE 113FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)168
TABLE 114FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)168
9.4KEY PRIMARY INSIGHTS168
10ROLLING STOCK MARKET, BY REGION169
10.1INTRODUCTION170
FIGURE 51ASIA OCEANIA TO LEAD MARKET DURING FORECAST PERIOD171
TABLE 115ROLLING STOCK MARKET, BY REGION, 2018–2022 (UNITS)171
TABLE 116ROLLING STOCK MARKET, BY REGION, 2023–2028 (UNITS)171
TABLE 117ROLLING STOCK MARKET, BY REGION, 2018–2022 (USD MILLION)172
TABLE 118ROLLING STOCK MARKET, BY REGION, 2023–2028 (USD MILLION)172
10.2ASIA OCEANIA173
10.2.1ASIA OCEANIA: RECESSION IMPACT173
10.2.2EXISTING/UPCOMING RAPID TRANSIT PROJECTS IN ASIA OCEANIA174
TABLE 119MAJOR RAPID TRANSIT PROJECTS IN ASIA OCEANIA174
10.2.3UPCOMING LIGHT RAIL PROJECTS IN ASIA OCEANIA175
TABLE 120PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA175
10.2.4UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN ASIA OCEANIA176
TABLE 121MAJOR LIGHT RAIL PROJECTS IN ASIA OCEANIA176
FIGURE 52ASIA OCEANIA: ROLLING STOCK MARKET SNAPSHOT177
TABLE 122ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)177
TABLE 123ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)178
TABLE 124ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)178
TABLE 125ASIA OCEANIA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)178
10.2.5CHINA179
10.2.5.1Growing investments in railway infrastructure to propel demand for rolling stock179
TABLE 126LIST OF RAILWAY PROJECTS UNDER CHINA BELT AND ROAD PROJECTS179
TABLE 127CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)180
TABLE 128CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)181
TABLE 129CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)181
TABLE 130CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)182
10.2.6INDIA182
10.2.6.1Rising investment in high-speed rail and rapid electrification of railway network to drive market182
TABLE 131LIST OF APPROVED METRO, METROLITE, AND METRO NEO PROJECTS IN INDIA183
FIGURE 53INDIAN RAILWAY REVENUE BREAKDOWN, BY SEGMENT, 2022183
TABLE 132INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)183
TABLE 133INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)184
TABLE 134INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)184
TABLE 135INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)185
10.2.7JAPAN185
10.2.7.1Growing procurement of rolling stock to propel market growth185
TABLE 136JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)186
TABLE 137JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)186
TABLE 138JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)187
TABLE 139JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)187
10.2.8SOUTH KOREA188
10.2.8.1Development of new railway lines to fuel demand for rolling stock188
TABLE 140SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)188
TABLE 141SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)189
TABLE 142SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)189
TABLE 143SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)190
10.2.9AUSTRALIA190
10.2.10MALAYSIA191
10.3EUROPE191
10.3.1EUROPE: RECESSION IMPACT191
10.3.2UPCOMING METRO/MONORAIL PROJECTS IN EUROPE192
TABLE 144MAJOR METRO/MONORAIL PROJECTS IN EUROPE192
10.3.3UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE193
TABLE 145PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE193
10.3.4UPCOMING RAPID TRANSIT PROJECTS IN EUROPE194
TABLE 146MAJOR RAPID TRANSIT PROJECTS IN EUROPE194
FIGURE 54EUROPE: ROLLING STOCK MARKET SNAPSHOT195
TABLE 147EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)195
TABLE 148EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)196
TABLE 149EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)196
TABLE 150EUROPE: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)196
10.3.5GERMANY197
10.3.5.1Upgrades to railway infrastructure to drive market197
TABLE 151GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)197
TABLE 152GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)198
TABLE 153GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)198
TABLE 154GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)199
10.3.6FRANCE199
10.3.6.1Growing need for public transportation and rising demand for high-speed rail to impact market positively199
TABLE 155FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)200
TABLE 156FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)200
TABLE 157FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)201
TABLE 158FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)201
10.3.7UK202
10.3.7.1Modernization and expansion of rail networks to create demand for rolling stock202
TABLE 159UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)202
TABLE 160UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)202
TABLE 161UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)203
TABLE 162UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)203
10.3.8ITALY204
10.3.8.1Increasing modernization and expansion of existing railway network to drive demand for rolling stock204
TABLE 163ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)204
TABLE 164ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)204
TABLE 165ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)205
TABLE 166ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)205
10.3.9SPAIN206
10.3.9.1Increasing high-speed rail network and presence of reputed rolling stock manufacturers to drive market206
TABLE 167POPULAR ROUTE IN SPAIN, 2022206
TABLE 168SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)206
TABLE 169SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)207
TABLE 170SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)207
TABLE 171SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)208
10.3.10SWITZERLAND208
10.3.11AUSTRIA208
10.3.12SWEDEN209
10.4NORTH AMERICA209
10.4.1NORTH AMERICA: RECESSION IMPACT209
10.4.2UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA210
TABLE 172MAJOR HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA210
10.4.3UPCOMING RAPID TRANSIT PROJECTS IN NORTH AMERICA210
TABLE 173MAJOR RAPID TRANSIT PROJECTS IN NORTH AMERICA210
FIGURE 55NORTH AMERICA: ROLLING STOCK MARKET SNAPSHOT211
TABLE 174NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)211
TABLE 175NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)212
TABLE 176NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)212
TABLE 177NORTH AMERICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)212
10.4.4US213
10.4.4.1Demand for electric locomotives and transition to Tier 4 emission requirements to drive market213
TABLE 178US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)213
TABLE 179US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)214
TABLE 180US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)214
TABLE 181US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)215
10.4.5MEXICO215
10.4.5.1Growing demand for railroad wagons to drive market215
TABLE 182MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)216
TABLE 183MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)216
TABLE 184MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)217
TABLE 185MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)217
10.4.6CANADA218
10.4.6.1Rising passenger and freight transportation to increase demand for rolling stock218
TABLE 186CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)218
TABLE 187CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)219
TABLE 188CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)219
TABLE 189CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)220
10.5MIDDLE EAST & AFRICA220
10.5.1MIDDLE EAST & AFRICA: RECESSION IMPACT221
FIGURE 56UAE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD221
10.5.2UPCOMING METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA221
TABLE 190PROPOSED METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA221
10.5.3UPCOMING RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA222
TABLE 191PROPOSED RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA222
TABLE 192MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)223
TABLE 193MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)223
TABLE 194MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)223
TABLE 195MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)224
10.5.4SOUTH AFRICA224
10.5.4.1Increasing urbanization to boost rolling stock market224
TABLE 196SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)224
TABLE 197SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)225
TABLE 198SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)225
TABLE 199SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)226
10.5.5UAE226
10.5.5.1Rising tourism industry and increased investment in rapid transit projects to proliferate demand for rolling stock226
TABLE 200UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)227
TABLE 201UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)227
TABLE 202UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)228
TABLE 203UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)228
10.5.6EGYPT229
10.5.6.1Investment and growth in tourism industry to drive market229
TABLE 204EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)229
TABLE 205EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)229
TABLE 206EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)230
TABLE 207EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)230
10.5.7IRAN231
10.6REST OF THE WORLD231
FIGURE 57RUSSIA TO HOLD PROMINENT MARKET SHARE DURING FORECAST PERIOD231
10.6.1UPCOMING METRO/MONORAIL PROJECTS IN REST OF THE WORLD232
TABLE 208MAJOR METRO/MONORAIL PROJECTS IN REST OF THE WORLD232
TABLE 209REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (UNITS)232
TABLE 210REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (UNITS)232
TABLE 211REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2018–2022 (USD MILLION)232
TABLE 212REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2023–2028 (USD MILLION)233
10.6.2BRAZIL233
10.6.2.1Growing demand for electro-diesel locomotives to drive market233
TABLE 213BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)233
TABLE 214BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)234
TABLE 215BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)234
TABLE 216BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)235
10.6.3RUSSIA235
10.6.3.1Growth in freight transportation to drive demand for wagons235
TABLE 217RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)236
TABLE 218RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)236
TABLE 219RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)237
TABLE 220RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)237
10.6.4ARGENTINA238
11COMPETITIVE LANDSCAPE239
11.1OVERVIEW239
11.2MARKET SHARE ANALYSIS FOR ROLLING STOCK MARKET239
TABLE 221MARKET SHARE ANALYSIS, 2022239
FIGURE 58MARKET SHARE ANALYSIS, 2022240
11.2.1CRRC CORPORATION LIMITED240
11.2.2ALSTOM SA240
11.2.3SIEMENS AG241
Related Report
