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Rise in demand for secure, safer, & efficient transport, and use of public transport services as a solution to minimize traffic congestions drive the market.
WILMINGTON, DE, UNITED STATES, October 15, 2024 /EINPresswire / -- Allied
market Research published a new report, titled, " The Global Rolling
Stock market Size Generate USD 73.27 Billion by 2031 Growing with 3.7% of CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global rolling stock market was valued at $51.31 billion in 2021 and is projected to reach $73. 27 billion by 2031, registering a CAGR of 3.7% from 2022 to 2031.
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Surge in demand for secure, safer, & efficient transport, rise in use of public transport services as a solution to minimize traffic congestions among people, and increase in allocation of the budget for development of railways are expected to drive the growth of the global rolling stock market. On the other hand, high capital requirement is expected to hinder the growth to some extent. However, persistent technological advancements and improvement in railway infrastructure are expected to create ample opportunities for the industry.
The rolling stock market is segmented on the basis of type, end use, and region. By type, it is divided into locomotive, metro, monorail, tram, freight wagons, passenger coaches, and others. By end use, it is classified into passenger transit and cargo train. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on type, the freight wagons segment held the largest market share in 2021, holding more than two-fifths of the global market. The metros segment, on the other hand, is predicted to cite the fastest CAGR of 6.1% during the forecast period.
Based on end-use, the cargo train segment held the dominating market share in 2021, holding nearly three-fifths of the global market. The passenger transit segment, on the other hand, is predicted to cite the fastest CAGR of 4.4% during the forecast period.
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Based on region, Europe held the lion's share in 2021, garnering nearly one-third of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 5.3% during the forecast period.
The major companies profiled in the rolling stock market share include Alstom, Construcciones Y Auxiliar De Ferrocarriles, S.A (CAF), CRRC Corporation Limited, Hitachi, Ltd., Hyundai Corporation, IHI Corporation, Kawasaki Heavy Industries, Ltd., MAPNA Group, Nippon Sharyo, Ltd., PESA Group, PPF Group N.V., Progress Rail (subsidiary of Caterpillar), Siemens, Stadler Rail AG, Talgo, Tatravagonka A.S. Poprad, The Greenbrier Companies, Inc., The Kinki Sharyo Co., Ltd., Trinity Industries, Inc., and Wabtec Corporation.
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COVID-19 Scenario
● The outbreak of COVID-19 has had a negative impact on the growth of the global rolling stock market, owing to the occurrence of lockdowns in various countries across the globe.
● The railway department shut down all the passenger train services and further limited its freight transport services due to reduction in demand for commodities and disrupted supply chain. This was majorly due to the stringent social distancing restrictions imposed by the government to significantly curb the spread of the virus during the pandemic.
● However, the market is expected to recoup soon.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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