The report, now available on ASDReports, "Rolling Stock Market and Infrastructure Analysis by Type (Locomotive, Rapid Transit Vehicle, and Wagon), and by Region (Europe, Asia-Pacific, North America, and Row) - Trends & Forecast to 2020", The global rolling stock market reached an estimated market size of USD 45.73 Billion in 2015. It is projected to grow to 54.55 Billion by 2020, at a CAGR of 3.59%. The increasing urbanization across the globe and railway privatization in growing economies of Asia-Pacific are some of the key drivers fueling the growth of the rolling stock infrastructure market.
Railroad car market: Set to grow at the highest CAGR, in terms of value, during the forecast period
The report segments the rolling stock market on the basis of type into railroad, rapid transit, and locomotive. Locomotives are traditionally used to haul freight and passenger wagons for long-distance main line transport. However, vehicles such as metros, light rail vehicles, and subways are being used for intra-city as well as intercity transportation. The growth of this market can be attributed to factors such as the growing global population, increasing urbanization, rising need for cleaner and faster modes of transportation, and economic growth.
Asia-Pacific: Fastest-growing market, in terms of value, for rolling stock and its infrastructure
Asia-Oceania comprises emerging and developing economies such as India, China, Japan, and Korea, and is experiencing a considerable growth in population. The rolling stock industry is witnessing growing demand after a weak performance in 2008, following the global recession. Global OEMs are investing in this region, owing to its promising growth opportunities. Increasing urbanization, reduction of road congestion, and technological advancements in rolling stock are driving the rolling stock infrastructure industry in Asia-Pacific. This has resulted in a surge in demand for locomotives, rapid transit vehicles, and wagons. The region houses major players such as CSR Corporation Ltd. (China) and Kawasaki Heavy Industries Ltd. (Japan).
North America:Promising market for rolling stock
North America is witnessing an upward trend in the demand for locomotives and rapid transit vehicles, which is positively impacting the rolling stock infrastructure industry. An increasing number of Eastern European and Asian players are forming joint ventures with U.S. manufacturers, as the rolling stock manufactured in the North American region is considered technologically advanced. Furthermore, North America is a major market for rolling stock, owing to the increasing urbanization in the region. Major suppliers such as GE Transportation (U.S.) and Bombardier Inc. (Canada) are catering to the rising demand in the region.
Europe: Projected to witness stable growth
Europe is a major established market for rolling stock and its infrastructure, and is projected to witness stable growth during the forecast period. The stringent fuel economy norms in the region are expected to be a major market driver, as they will likely promote research to encourage the use of renewable energy through new fuel and propulsion systems. The growing demand for comfort and safety while travelling is also expected to increase the demand for high quality rolling stock. Europe is home to major rolling stock infrastructure suppliers such as Alstom SA (France) and Siemens AG (Germany), which supply rolling stock for various railway applications.
The report covers the rolling stock market, in terms of volume (units) and value (million). It also covers the rolling stock infrastructure market in terms of value (million and billion). It briefly studies the rolling stock market on the basis of railway track network and rolling stock investments, from 2015 to 2020.