According to the latest report by IMARC Group, titled “Rolling Stock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global rolling stock market reached a value of US$ 37.2 Billion in 2020. Looking forward, IMARC Group expects the global rolling stock market to exhibit moderate growth during 2021-2026. Rolling stock refers to powered and unpowered vehicles that run on railway tracks and are widely used as a cost-effective mode of transportation. It can also be utilized to transport heavy goods, agricultural products, construction materials and bulky machinery over long distances. Rolling stock includes coaches, locomotives, carriages, passenger cars and freight wagons and is widely associated with enhanced comfort, improved reliability and faster commute. Consequently, they are widely used for transporting industrial chemicals, petrol and diesel, among other goods across numerous industry verticals.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Rolling Stock Market Trends:
The global market is primarily driven by the increasing requirement for convenient means of transportation. A significant increase in the global population, especially that of working professionals, along with rising issues pertaining to road traffic, has resulted in the growing demand for public modes of transportation, such as trams, metro, rapid rail and local passenger trains. These vehicles not only improve the commuting experience of the users by avoiding on-road congestion but also offer protection against altering weather conditions. Additionally, high-speed trains save the traveling time of the commuters while providing them a comfortable experience cost-effectively. Moreover, numerous manufacturers are utilizing lightweight components for the production of rolling stocks to improve their speed and fuel efficiency. They are also equipping the vehicles with regenerative braking, which uses traction motors as brakes for generating electricity. The produced electricity is further used to power other trains, which improves the overall efficiency of the transport system while minimizing their wear and tear. Furthermore, numerous government initiatives to promote the use of public transport and replace the aging rolling stock with new vehicles are providing a thrust to the market growth. Some of the other factors influencing the market growth include the integration of these transports with the internet of things (IoT), and innovations in big data and analytics, which facilitate streamlining operations.
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Key Market Segmentation:
Breakup by Product Type:
- Diesel Locomotive
- Electric Locomotive
Breakup by Locomotive Technology:
- Conventional Locomotive
- Turbocharge Locomotive
Breakup by Application:
- Passenger Coach
- Freight Wagon
Competitive Landscape with Key Players:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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