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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

Published ON May, 2023
Report Code AT 3235
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Report Code: AT 3235 May, 2023, by marketsandmarkets.com

[402 Pages Report] The global rolling stock market size was valued at USD 54.6 billion in 2023 and is expected to reach USD 65.6 billion by 2028, at a CAGR of 3.8% from 2023 to 2028. The global demand for rail vehicles is fueled by the rising population in urban areas, which puts significant pressure on the existing transportation infrastructure and necessitates expanding the network infrastructure. This has, in turn, increased the demand for rolling stock during the last few years.

Inadequate infrastructure and degradation of air quality are some of the key concerns in major metropolitan cities. High gasoline prices, traffic congestion, and greenhouse gas emissions are some of the other challenges for city dwellers. In such a scenario, public transportation offers several benefits over private conveyance. Urban transit systems help reduce traffic congestion and are more energy-efficient than other modes of transport. They also offer commuters a cost-effective alternative to personal transportation and help reduce their carbon footprint. Rolling stock is predominantly used for passenger transportation in the Asia Oceania and European regions. According to the International Union of Railways’ 2022 synopsis, Asia Oceania and Europe accounted for 85% and 11% of the total passenger kilometer (million) traveled, respectively. Asia Oceania and European region has major market players such as CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland) and others that offer a rolling stock with advanced features for end-use applications. The implementation of new technologies and the rising government investment towards railway industry drive the rolling stock market trends in this region. For instance, in its Union budget 2022-23, the Indian government allocated Rs. 140,367.13 crore (USD 18.40 billion) to the Ministry of Railways.

Rolling Stock Market

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Market Dynamics:

Driver: Increasing electrification of railway networks

Rising concerns regarding a greener environment have increased the demand for non-polluting and energy-efficient transport systems globally. Additionally, the oil-importing countries are also planning to reduce their oil dependency, thereby looking for an alternative energy source. As a result, most countries prefer electricity as a source of energy for various rolling stocks. This resulted in the increasing electrification of railway networks all over the world. Therefore, the demand for electric locomotives and EMUs is rising at a rapid pace globally. Countries are also replacing their old diesel locomotives and DMUs with electric locomotives and EMUs, respectively.

For instance, in 2021, South Korea announced its plan to completely phase out all diesel-hauled passenger trains in the country and replace them with new electric bullet trains by 2029. In March 2022, the Germany-based industry association VDV announced that the German rail network will be further electrified in the coming years. This could, however, be done at a faster pace by doing away with a preliminary environmental impact assessment and the planning approval requirement. In Germany, currently, around 60% of the railway lines are electrified. The VDV advocates a degree of electrification of 75% of the network. This will provide the necessary boost to the rolling stock industry. Currently, the electrification of railway networks is higher in Russia, Japan, and South Korea. India also has a well-electrified rail network. Currently, three zones of Indian railways have achieved 100% electrification: Kolkata Metro, West Central Railway, and East Coast Railway.

Restraint: Refurbishment of existing rolling stock

The demand for lower travel costs and the necessity to enhance vehicle capacity have both strengthened the market for rolling stock refurbishment. It is necessary to expand the current fleet to handle the rising passenger demand. The rolling stock of various rail franchises currently has a capacity that is insufficient to handle the rising demand. Refurbishment is therefore a practical option for increasing capacity and offers a chance to fix known reliability issues, enhance train energy efficiency, and modernize vehicles to meet needs.

Notable examples of refurbishment programs are Eversholt’s (UK) upgrading project and the Renatus program. The program involves modernizing 30 four-car class 321 EMUs leased by Abellio Greater Anglia (UK). The financial constraints in acquiring new trains also contribute to the increasing number of rolling stock refurbishment programs. In July 2022, The Passenger Rail Agency of South Africa (PRASA) has awarded five contracts worth a total USD 459.3 million for the refurbishment of rolling stock across the network. The five years contract have been awarded to Armature Technology, CTE Investment, Karabo Nhlamolo Project Cooperative, TMH Africa and YNF Engineering, with 380 and 400 EMU cars to undergo heavy maintenance and rehabilitation work every year. Additionally, Chrysalis Rail announced re-opening its South Wales depot for rolling stock maintenance, the latest rolling stock refurbishment projects, and overhaul projects. The new rolling stock market forecast is expected to be impacted due to the increase in refurbishment programs and the opening of factories for rolling stock refurbishment. Refurbishing existing rolling stock reduces the need to purchase new vehicles and is expected to therefore restrict the market growth.

Opportunity: Big data applications in rail industry

An improved travel experience, including onboard internet and entertainment, smart tickets, automated fare collection, and door-to-door services, is something that passengers are increasingly looking for. Currently, players in the transportation sector are looking into how to leverage big data collected from passengers' smart devices to perhaps enhance the economic models of urban rail networks and the caliber of services. Real-time prediction algorithms, scalable data structures, big data communications, and the use of visualization tools are the main goals of using big data and big data analytics.

Application of big data analytics can assist in understanding organizational, technological, and operational problems associated with railway transportation, as well as its effects on the economy. Big data analytics delivers data on the Traffic Management System (TMS), TMS decision-making, remaining life, maintenance-related service, and energy resources. Additionally, it enables rail operators to forecast ridership numbers and improve their product lineup. Big data makes it possible to better analyze the state and prognosticative behavior of rolling stock. Therefore, big data and intelligent rail systems can lower maintenance costs, minimize raks, and increase safety in the railway industry. The Central Organization for Modernization of Workshops (COFMOW), Indian Railways, awarded a contract to Wabtec Corporation in 2022 for its online monitoring of rolling stock (OMRS) project. This makes it possible to find problems with wheels, brakes, bearings, axes, and other parts for all maintenance, speeding up turnaround and improving safety.

Challenge: High overhaul and maintenance costs

Rolling stock needs to be periodically overhauled to ensure its reliability. However, regular maintenance and overhaul of rolling stock are highly expensive. For example, the annual maintenance cost of a high-speed trainset is USD 1 million. In addition to the cost of components that need to be replaced regularly, there is also the need for the maintenance of infrastructures such as depots and berthing sites. Rolling stock requires long-term maintenance when the train has reached half its operational life. This includes maintenance of electrical, mechanical, and hydraulic components of the vehicle. Large investments are required for such maintenance. In April 2022, Alstom SA signed a long-term maintenance contract with Alpha Trains Group, one of Europe's leading rail vehicle rental companies. In December 2022, VR FleetCare won a contract under a tender organized by the Helsinki Metropolitan Area Rolling Stock for the refurbishment of Flirt electric train bogies.

The Rapid transit segment is expected to be the largest growing segment during the forecast period

Increasing urbanization is the major reason for the growth of intercity and intracity transportation. Increasing adoption of rolling stock and rising investments by governments for infrastructure developments are expected to propel the growth of the rapid transit segment. In January 2023, LE TRAIN, France's leading private high-speed train operator, and Talgo signed an agreement in Bordeaux for the future development of a fleet of high-speed trains adapted to the French market and based on the leading high-speed Avril platform. In August 2022, Hyundai Rotem signed a USD 656 million contract to locally produce rolling stock for the Cairo Metro. The company will produce 40 trains comprising 320 carriages for Metro lines 2 and 3 alongside the National Egyptian Railway Industries Company (NERIC). The firm will also provide maintenance services for eight years. In January 2022, Strukton (Netherlands), a railway company, entered into a contract with the Stockholm Regional Council for the expansion of metro lines. Thus, with such new projects aimed toward rail connectivity, the demand for rolling stock will increase during the forecast period.

CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), etc., offer a DMUs, EMUs, Light rail and Metro for end-use applications. So, the rapid transit segment is estimated to grow significantly over the forecast period.

Rolling Stock Companies

Rolling Stock companies focusing on electric & hybrid railways due to the ongoing focus on sustainable & clean mobility

The shift twards railway electrification are creating lucrative opportunities for rolling stock companies with increasing their product expansion towards electric locomotives. Prominent rolling stock companies are investing highly in R&D. For instance, Alstom is investing in technologies such as regenerative braking, lightweight materials, and energy-efficient traction systems to reduce energy consumption and emissions. In the forecast period demand for electric locomotives and EMUs will grow at a rapid pace globally, especially in Asia Pacific region. Countries are also replacing their old diesel locomotives and DMUs with electric locomotives and EMUs, respectively. For instance, In March 2023, Siemens Mobility Austria GmbH received an order from ÖBB for additional 27 Siemens Desiro ML electric trainsets. Leading rolling stock companies such as Siemens AG, Alstom SA, CRRC, Hyundai Rotem Company and others have an agreement with various government railway organization to supply the electric locomotive for instance, In March 2023, Alstom SA successfully delivered 300 electric locomotives to the Indian Railways. Such development will gain a competitive advantage for the companies operating in the market.

Rolling stock manufacturers

Rolling stock manufacturers are also gaining more opportunity due to railway network electrification. Electric locomotives and EMUs produce zero emissions, so they are a more environmentally friendly option than diesel locomotives. This can make rolling stock manufacturers more attractive to investors and customers who are concerned about the environment. Rolling stock manufacturers such as Stadler Rail AG, CRRC, Wabtec Corporation, and others are providing various hybrid locomotive such battery electric, hydrogen battery which will help them to acquire the market share. For instance, in July 2023, Austrian Federal Railways (ÖBB) has awarded Stadler a framework agreement for up to 120 battery-powered trains. Also, Government in various region are increasing investment on railway network electrification which provide opportunity for rolling stock manufacturers. Due to increasing railway electrification and supply contract in emerging economies will provide the growth opportunities for the rolling stock manufacturers.

The Asia Oceania market is projected to hold the largest share by 2028

The Asia Oceania region is the largest market for rolling stocks due to increased production, domestic demand, and capacity expansions by rolling stock manufacturers. The region comprises some of the fastest-growing economies in the world, including China and India, offering opportunities for rolling stock manufacturers. Governments in these countries have recognized the growth potential of the rolling stock market value.  According to official data of Indian Railways, USD 23.5 billion (Rs. 191,162 crores) of revenue has been earned so far in the current fiscal year (FY23), China is also planning to invest USD 155 billion in expanding the railway network in the Yangtze River Delta (YRD) region under its 14th five-year plan period (2021-25). Japan is a technology leader in the market. The country is continuously investing in the development of innovative technologies in rolling stock. Previously, the rolling stock industry in South Korea was dependent on technologies developed by France and Japan. However, companies such as Hyundai Rotem are bringing technological developments in the country’s market.

Rolling Stock Market Size, and Share

Key Market Players

The global rolling stock market is dominated by major players such CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Stadler Rail AG (Switzerland), and Wabtec Corporation (US). These companies offer extensive products and solutions for the Railway industry; and have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.

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Scope of the Report

Report Metric

Details

Market Revenue in 2023

USD 54.6 billion

Estimated Value by 2028

USD 65.6 billion

Growth Rate

Poised to grow at a CAGR of 3.8%

Market Segmentation

Product Type, Locomotive Technology, Component, Application, and Region

Market Driver

Increasing electrification of railway networks

Market Opportunity

Big data applications in rail industry

Geographies covered

Asia Oceania, Europe, North America, Middle East & Africa and Rest of the World

This research report categorizes the rolling stock market based on Product Type, Locomotive Technology, Component, Application, and Region.

Based on the Product type:
  • Locomotives
    • Diesel Locomotives
    • Electric Locomotives
    • Electro-Diesel Locomotives
  • Rapid Transit
    • Diesel Multiple Unit (DMU)
    • Electric Multiple Unit (EMU)
    • Light Rails/Trams
    • Subways/Metros
    • Monorails
  • Coaches
  • Wagons
  • Others
Based on the Locomotive Technology:
  • Conventional Locomotives
  • Turbocharged Locomotives
  • Maglev 
Based on the Component:
  • Train Control Systems
  • Pantographs
  • Axles
  • Wheelsets
  • Traction Motors
  • Passenger Information Systems
  • Brakes
  • Air Conditioning Systems
  • Auxiliary Power Systems
  • Gearboxes
  • Baffle Gear
  • Coupler
Based on the Application:
  • Passenger Transportation
  • Freight Transportation
Based on the Region:
  • Asia Oceania
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
  • North America
    • US
    • Mexico
    • Canada
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • Uk
    • Switzerland
    • Austria
    • Sweden
  • Middle East and Africa
    • South Africa
    • UAE
    • Egypt
    • Iran
  • Rest of the World
    • Brazil
    • Russia
    • Argentina

Recent Developments

  • In April 2023, Siemens Mobility expanded its manufacturing and services facility in Munich-Allach in order to meet the growing demand for locomotives and services. The factory will be enlarged to 80,000 m2 from its current 50,000 m2 to provide additional capacities for processing new orders, optimizing production and logistics flows within the facility, and adding more office space.
  • In March 2023, Alstom SA inaugurated a new production site in Valmadrera (Lecco, Italy) dedicated to railway electrification. The new plant will develop and manufacture power transmission components for railway, metro, and tram lines.
  • In January 2023 CRRC Corporation Ltd. (China) has developed the 1st train of Qingyuan Maglev train. It adopts a 3-car formation, with cabs at both ends of the train and a carriage equipped with a mixture of vertically arranged double-row seats and horizontally arranged seats. With a total seating capacity of 315 people, the train can hold 500 passengers, and support different speeds in "3+3" formation.
  • In November 2022, Deutsche Bahn AG (DB) concluded a development partnership for long-distance rail transport with Siemens AG following a tender. In the first half of 2023, the two companies will work together on developing their vision of a new-generation high-speed train. Once the concept has been completed, a further tender is expected to follow in the second half of 2023 for the development, construction, and certification of the new fleet.
  • In September 2022, Siemens Mobility presents the Mireo Plus B battery train to the public for the first time at InnoTrans 2022. The Landesanstalt Schienenfahrzeuge Baden-Württemberg (SFBW) has ordered 27 Mireo Plus B trains from Siemens Mobility in 2020. The two-car electric trainsets with 120 seats can operate on rail routes with or without overhead power lines. Delivery of the multiple units is scheduled between June and December 2023.
  • In June 2022, Wabtec Corporation completed its acquisition of Collins Aerospace’s ARINC rail solutions business segment, a rail dispatch and back-office system provider.
  • In May 2022, India-based Medha Servo Drives signed a joint venture (JV) agreement with Swiss railway rolling stock manufacturer Stadler Rail AG for a new rail coach manufacturing factory in the Indian state of Telangana.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 38)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 1 INCLUSIONS AND EXCLUSIONS FOR STUDY OF ROLLING STOCK MARKET
    1.3 MARKET SCOPE 
           FIGURE 1 MARKET SEGMENTATION
           1.3.1 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 2 CURRENCY EXCHANGE RATES
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 45)
    2.1 RESEARCH DATA 
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 List of participating companies for primary research
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION,  AND REGION
                    2.1.2.3 Major objectives of primary research
                    2.1.2.4 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY 
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 6 MARKET SIZE: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR MARKET:  TOP-DOWN APPROACH
                    FIGURE 8 MARKET: MARKET ESTIMATION NOTES
                    FIGURE 9 MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF ALSTOM SA REVENUE ESTIMATION
    2.4 DATA TRIANGULATION 
           FIGURE 10 DATA TRIANGULATION METHODOLOGY
    2.5 FACTOR ANALYSIS 
           2.5.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND  SUPPLY SIDES
    2.6 RECESSION IMPACT ANALYSIS 
           TABLE 3 KEY COUNTRIES ROLLING STOCK SALES, 2022–2023
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 60)
    FIGURE 11 ROLLING STOCK MARKET OVERVIEW 
    FIGURE 12 MARKET, BY REGION, 2023–2028 
    FIGURE 13 WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 
    FIGURE 14 KEY PLAYERS OPERATING IN MARKET, BY REGION 
 
4 PREMIUM INSIGHTS (Page No. - 65)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ROLLING STOCK MARKET 
           FIGURE 15 RISING INVESTMENTS IN RAPID TRANSIT PROJECTS TO DRIVE MARKET
    4.2 MARKET SHARE, BY REGION 
           FIGURE 16 ASIA OCEANIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023
    4.3 MARKET, BY PRODUCT TYPE 
           FIGURE 17 WAGONS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.4 MARKET, BY APPLICATION 
           FIGURE 18 FREIGHT TRANSPORTATION SEGMENT TO REGISTER HIGHER CAGR THAN PASSENGER TRANSPORTATION SEGMENT DURING FORECAST PERIOD
    4.5 MARKET, BY LOCOMOTIVE TECHNOLOGY 
           FIGURE 19 CONVENTIONAL LOCOMOTIVES SEGMENT TO LEADS THE MARKET FROM 2023 TO 2028
 
5 MARKET OVERVIEW (Page No. - 68)
    5.1 INTRODUCTION 
           TABLE 4 ROLLING STOCK MARKET: IMPACT OF MARKET DYNAMICS
    5.2 MARKET DYNAMICS 
           FIGURE 20 MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increasing push for railway-based public transport to reduce road traffic congestion
                               FIGURE 21 DRIVING TIME SPENT IN TRAFFIC CONGESTION IN US, 2022
                    5.2.1.2 Rising need for energy-efficient transport
                               FIGURE 22 GLOBAL CO2 EMISSIONS FROM DIFFERENT TRANSPORT SEGMENTS,  2000-2030
                    5.2.1.3 Increasing demand for comfort and safety
                    5.2.1.4 Increasing electrification of railway networks
                               FIGURE 23 ENERGY DEMAND IN RAILWAY INDUSTRY, BY COUNTRY, 2017–2050
                    5.2.1.5 Growth in rolling stock orders
                               FIGURE 24 FLEET OF INDIAN LOCOMOTIVE STOCK
           5.2.2 RESTRAINTS
                    5.2.2.1 Refurbishment of existing rolling stock
                    5.2.2.2 Requirement for significant investments
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Big data applications in rail industry
                    5.2.3.2 Increase in industrial and mining activities
                               FIGURE 25 DIFFERENT MODES OF FREIGHT TRANSPORTATION
                    5.2.3.3 Development of hydrogen fuel cell locomotives
                    5.2.3.4 Development of battery-operated trains
                    5.2.3.5 Development of solar-powered trains
           5.2.4 CHALLENGES
                    5.2.4.1 High overhaul and maintenance costs
                    5.2.4.2 Requirement for high R&D investments
    5.3 PRICING ANALYSIS 
           FIGURE 26 PRICING ANALYSIS BY PRODUCT TYPE
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 27 MARKET: ECOSYSTEM ANALYSIS
           FIGURE 28 MARKET: NEURAL NETWORK
           TABLE 5 ROLE OF COMPANIES IN ROLLING STOCK ECOSYSTEM
    5.5 MACROECONOMIC INDICATORS 
           5.5.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 6 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)
                    TABLE 7 REAL GDP GROWTH RATE (ANNUAL PERCENTAGE CHANGE AND FORECAST),  BY MAJOR ECONOMIES, 2022–2026
                    TABLE 8 GDP PER CAPITA TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2022–2026 (USD)
    5.6 SUPPLY CHAIN ANALYSIS 
           FIGURE 29 SUPPLY CHAIN ANALYSIS: MARKET
           5.6.1 RAW MATERIAL/COMPONENT SUPPLIERS
           5.6.2 ORIGINAL EQUIPMENT MANUFACTURERS
           5.6.3 TIER 2 SUPPLIERS
                    TABLE 9 MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES
    5.7 CASE STUDY ANALYSIS 
           5.7.1 HELPING LEADING FRENCH MULTINATIONAL RAIL TRANSPORT COMPANY WITH LOCALIZATION PROGRAM IN INDIA
                    FIGURE 30 TECH MAHINDRA SOLUTION OFFERED
           5.7.2 EXCAVATION OF BIG ANALOG DATA VALUE: COMPACTRIO & NI INSIGHTCM
           5.7.3 GOLINC-M MODULES
           5.7.4 INTELLIGENT ASSET MANAGEMENT (IAM)
    5.8 PATENT ANALYSIS 
           TABLE 10 IMPORTANT PATENT REGISTRATIONS RELATED TO ROLLING STOCK MARKET
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 MAGNETIC LEVITATION (MAGLEV) TRAINS
                    5.9.1.1 Advantages of maglev trains
                    5.9.1.2 High-speed railway vs. maglev trains
                               TABLE 11 HIGH-SPEED RAILWAY VS. MAGLEV RAILWAY SYSTEMS (200-MPH HIGH-SPEED RAILWAY & 250-MPH MAGLEV)
                    5.9.1.3 Ecological impact of maglev
                               FIGURE 31 ENERGY CONSUMPTION: ICE TRAIN VS. MAGLEV TRAIN  (WATT-HOURS PER SEAT-KM)
                               FIGURE 32 CO2 EMISSIONS: ICE VS. MAGLEV TRAINS (GRAMS PER SEAT-KM)
                               FIGURE 33 FASTEST TRAINS, BY COUNTRY, 2022
           5.9.2 ROLLING STOCK REFURBISHMENT
           5.9.3 DIGITALIZATION OF RAILWAYS
           5.9.4 ARTICULATED AND NON-ARTICULATED TRAINS
                    TABLE 12 DIFFERENCES BETWEEN ARTICULATED AND NON-ARTICULATED TRAINS
           5.9.5 TILTING AND NON-TILTING TRAINS
           5.9.6 AUTONOMOUS TRAINS
                    TABLE 13 AUTONOMOUS TRAIN TECHNOLOGIES AND THEIR BENEFITS
                    TABLE 14 LEVEL OF AUTONOMY FOR ROLLING STOCK
           5.9.7 BIG DATA ANALYTICS AND CLOUD COMPUTING IN ROLLING STOCK
           5.9.8 DECARBONIZATION
           5.9.9 INTERNET OF TRAINS
           5.9.10 ARTIFICIAL INTELLIGENCE IN RAILWAY SECTOR
    5.10 TARIFF AND REGULATORY LANDSCAPE 
           5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 16 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 17 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 18 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
    5.11 TRADE ANALYSIS 
                    FIGURE 34 US: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)
                    FIGURE 35 CHINA: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2016–2021 (USD MILLION)
    5.12 KEY CONFERENCES AND EVENTS IN 2023–2024 
                    TABLE 19 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
    5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK PRODUCTS
                    TABLE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS: TOP 3 ROLLING STOCK  PRODUCTS (%)
           5.13.2 BUYING CRITERIA
                    FIGURE 37 KEY BUYING CRITERIA
                    TABLE 21 KEY BUYING CRITERIA
    5.14 TRENDS AND DISRUPTIONS IMPACTING MARKET 
                    FIGURE 38 TRENDS AND DISRUPTIONS IMPACTING THE MARKET
    5.15 MARKET, MARKET SCENARIOS (2023–2028) 
           5.15.1 MOST LIKELY SCENARIO
                    TABLE 22 MARKET: MOST LIKELY SCENARIO, BY REGION,  2023–2028 (USD MILLION)
           5.15.2 OPTIMISTIC SCENARIO
                    TABLE 23 MARKET: OPTIMISTIC SCENARIO, BY REGION,  2023–2028 (USD MILLION)
           5.15.3 PESSIMISTIC SCENARIO
                    TABLE 24 MARKET: PESSIMISTIC SCENARIO, BY REGION,  2023–2028 (USD MILLION)
 
6 ROLLING STOCK MARKET, BY COMPONENT (Page No. - 119)
    6.1 INTRODUCTION 
    6.2 TRAIN CONTROL SYSTEMS 
    6.3 PANTOGRAPHS 
    6.4 AXLES 
    6.5 WHEELSETS 
    6.6 TRACTION MOTORS 
    6.7 PASSENGER INFORMATION SYSTEMS 
    6.8 BRAKES 
    6.9 AIR CONDITIONING SYSTEMS 
    6.10 AUXILIARY POWER SYSTEMS 
    6.11 GEARBOXES 
    6.12 BAFFLE GEARS 
    6.13 COUPLERS 
 
7 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY (Page No. - 124)
    7.1 INTRODUCTION 
           FIGURE 39 CONVENTIONAL LOCOMOTIVES SEGMENT TO HOLD LARGER MARKET SHARE THAN TURBOCHARGED LOCOMOTIVES SEGMENT FROM 2023 TO 2028
           TABLE 25 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (UNITS)
           TABLE 26 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (UNITS)
           TABLE 27 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2022 (USD MILLION)
           TABLE 28 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2023–2028 (USD MILLION)
    7.2 CONVENTIONAL LOCOMOTIVES 
           7.2.1 INCREASE IN PASSENGER TRANSPORTATION TO DRIVE MARKET
                    FIGURE 40 ASIA OCEANIA TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 29 CONVENTIONAL LOCOMOTIVES: MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 30 CONVENTIONAL LOCOMOTIVES: MARKET, BY REGION,  2023–2028 (UNITS)
                    TABLE 31 CONVENTIONAL LOCOMOTIVES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 32 CONVENTIONAL LOCOMOTIVES: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.3 TURBOCHARGED LOCOMOTIVES 
           7.3.1 GOVERNMENT REGULATIONS TO CREATE DEMAND FOR TURBOCHARGED LOCOMOTIVES
                    FIGURE 41 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 33 TURBOCHARGED LOCOMOTIVES: MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 34 TURBOCHARGED LOCOMOTIVES: MARKET, BY REGION,  2023–2028 (UNITS)
                    TABLE 35 TURBOCHARGED LOCOMOTIVES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 36 TURBOCHARGED LOCOMOTIVES: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.4 MAGLEV LOCOMOTIVES 
           TABLE 37 COMPARISON BETWEEN CONVENTIONAL HIGH-SPEED RAIL, MAGLEV, AND HYPERLOOP
           7.4.1 TYPES OF MAGLEV LOCOMOTIVES
                    7.4.1.1 Electromagnetic suspension
                    7.4.1.2 Electrodynamic suspension
                    7.4.1.3 Inductrack
    7.5 KEY PRIMARY INSIGHTS 
 
8 ROLLING STOCK MARKET, BY PRODUCT TYPE (Page No. - 136)
    8.1 INTRODUCTION 
           FIGURE 42 RISING NEED FOR EFFICIENT, RELIABLE, AND COST-EFFECTIVE TRANSPORTATION OF GOODS TO CREATE DEMAND FOR WAGONS
           TABLE 38 MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
           TABLE 39 MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
           TABLE 40 MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
           TABLE 41 MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           TABLE 42 ROLLING STOCK MODELS, BY COMPANY
    8.2 LOCOMOTIVES 
           8.2.1 RISING ELECTRIFICATION TO INCREASE DEMAND FOR ELECTRIC LOCOMOTIVES
                    FIGURE 43 DIESEL LOCOMOTIVES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
                    TABLE 43 LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (UNITS)
                    TABLE 44 LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (UNITS)
                    TABLE 45 LOCOMOTIVES MARKET, BY TYPE, 2018–2022 (USD MILLION)
                    TABLE 46 LOCOMOTIVES MARKET, BY TYPE, 2023–2028 (USD MILLION)
           8.2.2 DIESEL LOCOMOTIVES
                    8.2.2.1 Rising demand for diesel locomotives in non-electrified tracks to drive segment
                               TABLE 47 DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 48 DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 49 DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 50 DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.2.3 ELECTRIC LOCOMOTIVES
                    8.2.3.1 Government investment toward zero emissions and advances in electric locomotive technology to create demand for electric locomotives
                               TABLE 51 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 52 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 53 ELECTRIC LOCOMOTIVES: ROLLING STOCK MARKET, BY REGION,  2018–2022 (USD MILLION)
                               TABLE 54 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.2.4 ELECTRO-DIESEL LOCOMOTIVES
                    8.2.4.1 Increasing demand for efficient and environmentally friendly transportation to drive segment
                               TABLE 55 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 56 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 57 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 58 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.3 RAPID TRANSIT 
           8.3.1 INCREASING DEMAND FOR PUBLIC TRANSPORTATION TO BOOST SEGMENT
                    FIGURE 44 EMUS SEGMENT TO LEAD RAPID TRANSIT MARKET DURING FORECAST PERIOD
                    TABLE 59 RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (UNITS)
                    TABLE 60 RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (UNITS)
                    TABLE 61 RAPID TRANSIT MARKET, BY TYPE, 2018–2022 (USD MILLION)
                    TABLE 62 RAPID TRANSIT MARKET, BY TYPE, 2023–2028 (USD MILLION)
           8.3.2 DIESEL MULTIPLE UNITS (DMUS)
                    8.3.2.1 Non-feasibility of railway electrification in certain areas to drive demand for DMUs
                               TABLE 63 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 64 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 65 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 66 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.3 ELECTRIC MULTIPLE UNITS (EMUS)
                    8.3.3.1 Rising passenger transportation in emerging economies to create demand for EMUs
                               TABLE 67 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 68 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 69 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 70 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.4 LIGHT RAILS/TRAMS
                    8.3.4.1 Rising need to reduce road traffic congestion to drive demand for light rails
                               TABLE 71 LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 72 LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 73 LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 74 LIGHT RAILS/TRAMS MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.5 SUBWAYS/METROS
                    8.3.5.1 Rapid urbanization to create demand for metros
                               TABLE 75 SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 76 SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 77 SUBWAYS/METROS MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 78 SUBWAYS/METROS MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.6 MONORAILS
    8.4 COACHES 
           8.4.1 NEW TRAIN LAUNCHES TO DRIVE DEMAND FOR COACHES
                    FIGURE 45 ASIA OCEANIA TO HOLD LARGEST MARKET SHARE IN COACHES SEGMENT DURING FORECAST PERIOD
                    TABLE 79 COACHES MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 80 COACHES MARKET, BY REGION, 2023–2028 (UNITS)
                    TABLE 81 COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 82 COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.5 WAGONS 
           8.5.1 RISING FREIGHT TRANSPORTATION TO PROVIDE GROWTH OPPORTUNITIES
                    FIGURE 46 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 83 WAGONS MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 84 WAGONS MARKET, BY REGION, 2023–2028 (UNITS)
                    TABLE 85 WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 86 WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.6 OTHERS 
           8.6.1 HYPERLOOP – FUTURE OF TRANSPORTATION
    8.7 KEY PRIMARY INSIGHTS 
 
9 ROLLING STOCK MARKET, BY APPLICATION (Page No. - 165)
    9.1 INTRODUCTION 
           FIGURE 47 FREIGHT TRANSPORTATION SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
           TABLE 87 MARKET, BY APPLICATION, 2018–2022 (UNITS)
           TABLE 88 MARKET, BY APPLICATION, 2023–2028 (UNITS)
           TABLE 89 MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
           TABLE 90 MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
    9.2 PASSENGER TRANSPORTATION 
           9.2.1 INCREASING URBANIZATION TO DRIVE PASSENGER TRANSPORTATION
                    FIGURE 48 LOCOMOTIVES TO LEAD PASSENGER TRANSPORTATION SEGMENT FROM 2023 TO 2028
                    TABLE 91 PASSENGER TRANSPORTATION: MARKET, BY TYPE, 2018–2022 (UNITS)
                    TABLE 92 PASSENGER TRANSPORTATION: MARKET, BY TYPE, 2023–2028 (UNITS)
                    TABLE 93 PASSENGER TRANSPORTATION: MARKET, BY TYPE,  2018–2022 (USD MILLION)
                    TABLE 94 PASSENGER TRANSPORTATION: MARKET, BY TYPE,  2023–2028 (USD MILLION)
           9.2.2 LOCOMOTIVES
                    9.2.2.1 Increasing passenger travel via railways to drive demand for locomotives
                               TABLE 95 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 96 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 97 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 98 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)
           9.2.3 COACHES
                    9.2.3.1 Preference for rail travel in Asia Oceania to boost demand for passenger coaches
                               TABLE 99 PASSENGER COACHES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 100 PASSENGER COACHES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 101 PASSENGER COACHES MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 102 PASSENGER COACHES MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 FREIGHT TRANSPORTATION 
           9.3.1 RISE IN TRADE ACTIVITY TO INCREASE DEMAND FOR FREIGHT TRANSPORTATION
                    FIGURE 49 FREIGHT TRANSPORTATION SERVICES INDEX, JANUARY 2022–FEBRUARY 2023
                    FIGURE 50 WAGONS TO HOLD LARGER MARKET SHARE IN FREIGHT TRANSPORTATION SEGMENT DURING FORECAST PERIOD
                    TABLE 103 FREIGHT TRANSPORTATION: MARKET, BY TYPE, 2018–2022 (UNITS)
                    TABLE 104 FREIGHT TRANSPORTATION: MARKET, BY TYPE, 2023–2028 (UNITS)
                    TABLE 105 FREIGHT TRANSPORTATION: MARKET, BY TYPE,  2018–2022 (USD MILLION)
                    TABLE 106 FREIGHT TRANSPORTATION: MARKET, BY TYPE,  2023–2028 (USD MILLION)
           9.3.2 LOCOMOTIVES
                    9.3.2.1 Increasing global trade and e-commerce activities to increase demand for freight locomotives
                               TABLE 107 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 108 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 109 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 110 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2023–2028 (USD MILLION)
           9.3.3 WAGONS
                    9.3.3.1 Improvements to railway network in Asia Oceania to increase demand for freight wagons
                               TABLE 111 FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (UNITS)
                               TABLE 112 FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (UNITS)
                               TABLE 113 FREIGHT WAGONS MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 114 FREIGHT WAGONS MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.4 KEY PRIMARY INSIGHTS 
 
10 ROLLING STOCK MARKET, BY REGION (Page No. - 180)
     10.1 INTRODUCTION 
               FIGURE 51 ASIA OCEANIA TO LEAD MARKET DURING FORECAST PERIOD
               TABLE 115 MARKET, BY REGION, 2018–2022 (UNITS)
               TABLE 116 MARKET, BY REGION, 2023–2028 (UNITS)
               TABLE 117 MARKET, BY REGION, 2018–2022 (USD MILLION)
               TABLE 118 MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.2 ASIA OCEANIA 
             10.2.1 ASIA OCEANIA: RECESSION IMPACT
             10.2.2 EXISTING/UPCOMING RAPID TRANSIT PROJECTS IN ASIA OCEANIA
                       TABLE 119 MAJOR RAPID TRANSIT PROJECTS IN ASIA OCEANIA
             10.2.3 UPCOMING LIGHT RAIL PROJECTS IN ASIA OCEANIA
                       TABLE 120 PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA
             10.2.4 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN ASIA OCEANIA
                       TABLE 121 MAJOR LIGHT RAIL PROJECTS IN ASIA OCEANIA
                       FIGURE 52 ASIA OCEANIA: MARKET SNAPSHOT
                       TABLE 122 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2022 (UNITS)
                       TABLE 123 ASIA OCEANIA: MARKET, BY COUNTRY, 2023–2028 (UNITS)
                       TABLE 124 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 125 ASIA OCEANIA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.2.5 CHINA
                       10.2.5.1 Growing investments in railway infrastructure to propel demand for rolling stock
                                   TABLE 126 LIST OF RAILWAY PROJECTS UNDER CHINA BELT AND ROAD PROJECTS
                                   TABLE 127 CHINA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 128 CHINA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 129 CHINA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 130 CHINA: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.2.6 INDIA
                       10.2.6.1 Rising investment in high-speed rail and rapid electrification of railway network to drive market
                                   TABLE 131 LIST OF APPROVED METRO, METROLITE, AND METRO NEO PROJECTS IN INDIA
                                   FIGURE 53 INDIAN RAILWAY REVENUE BREAKDOWN, BY SEGMENT, 2022
                                   TABLE 132 INDIA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 133 INDIA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 134 INDIA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 135 INDIA: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.2.7 JAPAN
                       10.2.7.1 Growing procurement of rolling stock to propel market growth
                                   TABLE 136 JAPAN: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 137 JAPAN: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 138 JAPAN: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 139 JAPAN: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.2.8 SOUTH KOREA
                       10.2.8.1 Development of new railway lines to fuel demand for rolling stock
                                   TABLE 140 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 141 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 142 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 143 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.2.9 AUSTRALIA
               10.2.10 MALAYSIA
     10.3 EUROPE 
             10.3.1 EUROPE: RECESSION IMPACT
             10.3.2 UPCOMING METRO/MONORAIL PROJECTS IN EUROPE
                       TABLE 144 MAJOR METRO/MONORAIL PROJECTS IN EUROPE
             10.3.3 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
                       TABLE 145 PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
             10.3.4 UPCOMING RAPID TRANSIT PROJECTS IN EUROPE
                       TABLE 146 MAJOR RAPID TRANSIT PROJECTS IN EUROPE
                       FIGURE 54 EUROPE: MARKET SNAPSHOT
                       TABLE 147 EUROPE: MARKET, BY COUNTRY, 2018–2022 (UNITS)
                       TABLE 148 EUROPE: MARKET, BY COUNTRY, 2023–2028 (UNITS)
                       TABLE 149 EUROPE: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 150 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.3.5 GERMANY
                       10.3.5.1 Upgrades to railway infrastructure to drive market
                                   TABLE 151 GERMANY: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 152 GERMANY: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 153 GERMANY: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 154 GERMANY: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.3.6 FRANCE
                       10.3.6.1 Growing need for public transportation and rising demand for high-speed rail to impact market positively
                                   TABLE 155 FRANCE: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 156 FRANCE: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 157 FRANCE: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 158 FRANCE: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.3.7 UK
                       10.3.7.1 Modernization and expansion of rail networks to create demand for rolling stock
                                   TABLE 159 UK: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 160 UK: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 161 UK: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 162 UK: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.3.8 ITALY
                       10.3.8.1 Increasing modernization and expansion of existing railway network to drive demand for rolling stock
                                   TABLE 163 ITALY: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 164 ITALY: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 165 ITALY: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 166 ITALY: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.3.9 SPAIN
                       10.3.9.1 Increasing high-speed rail network and presence of reputed rolling stock manufacturers to drive market
                                   TABLE 167 POPULAR ROUTE IN SPAIN, 2022
                                   TABLE 168 SPAIN: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 169 SPAIN: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 170 SPAIN: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 171 SPAIN: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
               10.3.10 SWITZERLAND
               10.3.11 AUSTRIA
               10.3.12 SWEDEN
     10.4 NORTH AMERICA 
             10.4.1 NORTH AMERICA: RECESSION IMPACT
             10.4.2 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
                       TABLE 172 MAJOR HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
             10.4.3 UPCOMING RAPID TRANSIT PROJECTS IN NORTH AMERICA
                       TABLE 173 MAJOR RAPID TRANSIT PROJECTS IN NORTH AMERICA
                       FIGURE 55 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 174 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (UNITS)
                       TABLE 175 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (UNITS)
                       TABLE 176 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 177 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.4.4 US
                       10.4.4.1 Demand for electric locomotives and transition to Tier 4 emission requirements to drive market
                                   TABLE 178 US: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 179 US: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 180 US: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 181 US: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.4.5 MEXICO
                       10.4.5.1 Growing demand for railroad wagons to drive market
                                   TABLE 182 MEXICO: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 183 MEXICO: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 184 MEXICO: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 185 MEXICO: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.4.6 CANADA
                       10.4.6.1 Rising passenger and freight transportation to increase demand for rolling stock
                                   TABLE 186 CANADA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 187 CANADA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 188 CANADA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 189 CANADA: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA 
             10.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
                       FIGURE 56 UAE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             10.5.2 UPCOMING METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA
                       TABLE 190 PROPOSED METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA
             10.5.3 UPCOMING RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA
                       TABLE 191 PROPOSED RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA
                       TABLE 192 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2018–2022 (UNITS)
                       TABLE 193 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2023–2028 (UNITS)
                       TABLE 194 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                       TABLE 195 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.5.4 SOUTH AFRICA
                       10.5.4.1 Increasing urbanization to boost rolling stock market
                                   TABLE 196 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 197 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 198 SOUTH AFRICA: MARKET, BY PRODUCT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 199 SOUTH AFRICA: MARKET, BY PRODUCT TYPE,  2023–2028 (USD MILLION)
             10.5.5 UAE
                       10.5.5.1 Rising tourism industry and increased investment in rapid transit projects to proliferate demand for rolling stock
                                   TABLE 200 UAE: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 201 UAE: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 202 UAE: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 203 UAE: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.5.6 EGYPT
                       10.5.6.1 Investment and growth in tourism industry to drive market
                                   TABLE 204 EGYPT: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 205 EGYPT: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 206 EGYPT: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 207 EGYPT: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.5.7 IRAN
     10.6 REST OF THE WORLD 
               FIGURE 57 RUSSIA TO HOLD PROMINENT MARKET SHARE DURING FORECAST PERIOD
             10.6.1 UPCOMING METRO/MONORAIL PROJECTS IN REST OF THE WORLD
                       TABLE 208 MAJOR METRO/MONORAIL PROJECTS IN REST OF THE WORLD
                       TABLE 209 REST OF THE WORLD: MARKET, BY COUNTRY, 2018–2022 (UNITS)
                       TABLE 210 REST OF THE WORLD: MARKET, BY COUNTRY, 2023–2028 (UNITS)
                       TABLE 211 REST OF THE WORLD: MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                       TABLE 212 REST OF THE WORLD: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.6.2 BRAZIL
                       10.6.2.1 Growing demand for electro-diesel locomotives to drive market
                                   TABLE 213 BRAZIL: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 214 BRAZIL: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 215 BRAZIL: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 216 BRAZIL: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.6.3 RUSSIA
                       10.6.3.1 Growth in freight transportation to drive demand for wagons
                                   TABLE 217 RUSSIA: MARKET, BY PRODUCT TYPE, 2018–2022 (UNITS)
                                   TABLE 218 RUSSIA: MARKET, BY PRODUCT TYPE, 2023–2028 (UNITS)
                                   TABLE 219 RUSSIA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 220 RUSSIA: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
             10.6.4 ARGENTINA
 
11 COMPETITIVE LANDSCAPE (Page No. - 250)
     11.1 OVERVIEW 
     11.2 MARKET SHARE ANALYSIS FOR ROLLING STOCK MARKET 
               TABLE 221 MARKET SHARE ANALYSIS, 2022
               FIGURE 58 MARKET SHARE ANALYSIS, 2022
             11.2.1 CRRC CORPORATION LIMITED
             11.2.2 ALSTOM SA
             11.2.3 SIEMENS AG
             11.2.4 STADLER RAIL AG
             11.2.5 WABTEC CORPORATION
     11.3 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023 
               TABLE 222 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MARKET
     11.4 REVENUE ANALYSIS OF TOP PLAYERS, 2018–2022 
               FIGURE 59 TOP PUBLIC/LISTED PLAYERS DOMINATING MARKET DURING LAST 5 YEARS
     11.5 COMPETITIVE SCENARIO 
             11.5.1 PRODUCT LAUNCHES
                       TABLE 223 ROLLING STOCK MARKET: PRODUCT LAUNCHES, JUNE 2020–FEBRUARY 2023
             11.5.2 DEALS
                       TABLE 224 MARKET: DEALS, JANUARY 2021–APRIL 2023
             11.5.3 OTHERS
                       TABLE 225 MARKET: EXPANSIONS, MARCH 2021–APRIL 2023
     11.6 COMPANY EVALUATION MATRIX 
             11.6.1 STARS
             11.6.2 PERVASIVE PLAYERS
             11.6.3 EMERGING LEADERS
             11.6.4 PARTICIPANTS
                       FIGURE 60 MARKET: COMPANY EVALUATION MATRIX, 2022
                       TABLE 226 MARKET: COMPANY REGION FOOTPRINT, 2022
                       TABLE 227 MARKET: COMPANY OFFERING TYPE FOOTPRINT, 2022
                       TABLE 228 MARKET: COMPANY OFFERING & GEOGRAPHIC FOOTPRINT, 2022
     11.7 START-UP/SME EVALUATION MATRIX 
             11.7.1 PROGRESSIVE COMPANIES
             11.7.2 RESPONSIVE COMPANIES
             11.7.3 DYNAMIC COMPANIES
             11.7.4 STARTING BLOCKS
                       FIGURE 61 MARKET: START-UP/SME EVALUATION MATRIX, 2022
                       TABLE 229 MARKET: START-UP/SME REGION FOOTPRINT, 2022
                       TABLE 230 MARKET: START-UP/SME OFFERING TYPE FOOTPRINT, 2022
                       TABLE 231 MARKET: START-UP/SME OFFERING & GEOGRAPHIC FOOTPRINT, 2022
 
12 COMPANY PROFILES (Page No. - 302)
(Business overview, Recent Developments, MNM view)*
     12.1 KEY PLAYERS 
             12.1.1 CRRC CORPORATION LIMITED (CRRC)
                       TABLE 232 CRRC CORPORATION LIMITED: COMPANY OVERVIEW
                       FIGURE 62 CRRC CORPORATION LIMITED: COMPANY SNAPSHOT
                       TABLE 233 CRRC CORPORATION LIMITED: PRODUCTS OFFERED
                       TABLE 234 CRRC CORPORATION LIMITED: NEW PRODUCT DEVELOPMENTS
                       TABLE 235 CRRC CORPORATION LIMITED: DEALS
             12.1.2 ALSTOM SA
                       TABLE 236 ALSTOM SA: COMPANY OVERVIEW
                       FIGURE 63 ALSTOM SA: COMPANY SNAPSHOT
                       FIGURE 64 ALSTOM NEW BUSINESS OPPORTUNITY SPACE
                       TABLE 237 ALSTOM SA: PRODUCTS OFFERED
                       TABLE 238 ALSTOM SA: NEW PRODUCT DEVELOPMENTS
                       TABLE 239 ALSTOM SA: DEALS
                       TABLE 240 ALSTOM SA: OTHERS
             12.1.3 SIEMENS AG
                       TABLE 241 SIEMENS AG: COMPANY OVERVIEW
                       FIGURE 65 SIEMENS AG: COMPANY SNAPSHOT
                       TABLE 242 SIEMENS AG: PRODUCTS OFFERED
                       TABLE 243 SIEMENS AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 244 SIEMENS AG: DEALS
                       TABLE 245 SIEMENS AG: OTHERS
             12.1.4 STADLER RAIL AG
                       TABLE 246 STADLER RAIL AG: COMPANY OVERVIEW
                       FIGURE 66 STADLER RAIL AG: COMPANY SNAPSHOT
                       FIGURE 67 STADLER RAIL AG: FUTURE STRATEGY OVERVIEW
                       TABLE 247 STADLER RAIL AG: PRODUCTS OFFERED
                       TABLE 248 STADLER RAIL AG: DEALS
                       TABLE 249 STADLER RAIL AG: OTHERS
             12.1.5 WABTEC CORPORATION
                       TABLE 250 WABTEC CORPORATION: COMPANY OVERVIEW
                       FIGURE 68 WABTEC CORPORATION: COMPANY SNAPSHOT
                       FIGURE 69 WABTEC CORPORATION NORTH AMERICA LOCOMOTIVES MARKET SNAPSHOT
                       TABLE 251 WABTEC CORPORATION: PRODUCTS OFFERED
                       TABLE 252 WABTEC CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 253 WABTEC CORPORATION: DEALS
                       TABLE 254 WABTEC CORPORATION: OTHERS
             12.1.6 KAWASAKI HEAVY INDUSTRIES, LTD.
                       TABLE 255 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
                       FIGURE 70 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                       TABLE 256 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
                       TABLE 257 KAWASAKI HEAVY INDUSTRIES, LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 258 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
             12.1.7 CAF GROUP
                       TABLE 259 CAF GROUP: COMPANY OVERVIEW
                       FIGURE 71 CAF GROUP: COMPANY SNAPSHOT
                       TABLE 260 CAF GROUP: PRODUCTS OFFERED
                       TABLE 261 CAF GROUP: DEALS
             12.1.8 HYUNDAI ROTEM COMPANY
                       TABLE 262 HYUNDAI ROTEM COMPANY: COMPANY OVERVIEW
                       FIGURE 72 HYUNDAI ROTEM COMPANY: COMPANY SNAPSHOT
                       TABLE 263 HYUNDAI ROTEM COMPANY: PRODUCTS OFFERED
                       TABLE 264 HYUNDAI ROTEM COMPANY: DEALS
             12.1.9 MITSUBISHI HEAVY INDUSTRIES, LTD.
                       TABLE 265 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
                       FIGURE 73 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                       TABLE 266 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
                       TABLE 267 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS
                       TABLE 268 MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS
             12.1.10 TALGO
                                   TABLE 269 TALGO: COMPANY OVERVIEW
                                   FIGURE 74 TALGO: COMPANY SNAPSHOT
                                   TABLE 270 TALGO: PRODUCTS OFFERED
                                   TABLE 271 TALGO: DEALS
             12.1.11 TRANSMASHHOLDING
                                   TABLE 272 TRANSMASHHOLDING: COMPANY OVERVIEW
                                   TABLE 273 TRANSMASHHOLDING: PRODUCTS OFFERED
                                   TABLE 274 TRANSMASHHOLDING: NEW PRODUCT DEVELOPMENTS
                                   TABLE 275 TRANSMASHHOLDING: DEALS
                                   TABLE 276 TRANSMASHHOLDING: OTHERS
             12.1.12 TITAGARH WAGONS LIMITED
                                   TABLE 277 TITAGARH WAGONS LIMITED: COMPANY OVERVIEW
                                   FIGURE 75 TITAGARH WAGONS LIMITED: COMPANY SNAPSHOT
                                   TABLE 278 TITAGARH WAGONS LIMITED: PRODUCTS OFFERED
                                   TABLE 279 TITAGARH WAGONS LIMITED: NEW PRODUCT DEVELOPMENTS
                                   TABLE 280 TITAGARH WAGONS LIMITED: DEALS
     12.2 OTHER PLAYERS 
             12.2.1 TOSHIBA
                       TABLE 281 TOSHIBA: COMPANY OVERVIEW
             12.2.2 HITACHI RAIL LIMITED
                       TABLE 282 HITACHI RAIL LIMITED: COMPANY OVERVIEW
             12.2.3 CHITTARANJAN LOCOMOTIVE WORKS (CLW)
                       TABLE 283 CHITTARANJAN LOCOMOTIVE WORKS (CLW): COMPANY OVERVIEW
             12.2.4 NIIGATA ENGINEERING CO., LTD.
                       TABLE 284 NIIGATA ENGINEERING CO., LTD.: COMPANY OVERVIEW
             12.2.5 SCOMI GROUP BHD
                       TABLE 285 SCOMI GROUP BHD: COMPANY OVERVIEW
             12.2.6 WOOJIN INDUSTRIAL SYSTEMS
                       TABLE 286 WOOJIN INDUSTRIAL SYSTEMS: COMPANY OVERVIEW
             12.2.7 ABB
                       TABLE 287 ABB: COMPANY OVERVIEW
             12.2.8 STRUKTON
                       TABLE 288 STRUKTON: COMPANY OVERVIEW
             12.2.9 LEGIOS
                       TABLE 289 LEGIOS: COMPANY OVERVIEW
             12.2.10 DEUTA-WERKE GMBH
                                   TABLE 290 DEUTA-WERKE GMBH: COMPANY OVERVIEW
             12.2.11 THALES GROUP
                                   TABLE 291 THALES GROUP: COMPANY OVERVIEW
             12.2.12 DEUTSCHE BAHN AG
                                   TABLE 292 DEUTSCHE BAHN AG: COMPANY OVERVIEW
             12.2.13 LAMIFIL
                                   TABLE 293 LAMIFIL: COMPANY OVERVIEW
             12.2.14 RHOMBERG SERSA RAIL HOLDING GMBH
                                   TABLE 294 RHOMBERG SERSA RAIL HOLDING GMBH: COMPANY OVERVIEW
             12.2.15 BALFOUR BEATTY
                                   TABLE 295 BALFOUR BEATTY: COMPANY OVERVIEW
             12.2.16 INTAMIN BAHNTECHNIK UND BETRIEBS-MBH & CO. KG
                                   TABLE 296 INTAMIN BAHNTECHNIK UND BETRIEBS-MBH & CO. KG: COMPANY OVERVIEW
             12.2.17 AMERICAN EQUIPMENT COMPANY
                                  TABLE 297 AMERICAN EQUIPMENT COMPANY: COMPANY OVERVIEW
             12.2.18 INGETEAM CORPORACIÓN, S.A.
                                   TABLE 298 INGETEAM CORPORACIÓN, S.A.: COMPANY OVERVIEW
             12.2.19 CALAMP
                                   TABLE 299 CALAMP: COMPANY OVERVIEW
             12.2.20 URBANAUT MONORAIL TECHNOLOGY
                                   TABLE 300 URBANAUT MONORAIL TECHNOLOGY: COMPANY OVERVIEW
             12.2.21 UGL
                                   TABLE 301 UGL: COMPANY OVERVIEW
             12.2.22 RANDON
                                   TABLE 302 RANDON: COMPANY OVERVIEW
             12.2.23 SINARA TRANSPORT MACHINES
                                   TABLE 303 SINARA TRANSPORT MACHINES: COMPANY OVERVIEW
             12.2.24 ALUCAST IRAN
                                   TABLE 304 ALUCAST IRAN: COMPANY OVERVIEW
             12.2.25 TRINITY INDUSTRIES, INC.
                                   TABLE 305 TRINITY INDUSTRIES, INC.: COMPANY OVERVIEW
             12.2.26 THE GREENBRIER COMPANIES
                                   TABLE 306 THE GREENBRIER COMPANIES: COMPANY OVERVIEW
             12.2.27 BEML LIMITED
                                   TABLE 307 BEML LIMITED: COMPANY OVERVIEW
             12.2.28 BRAITHWAITE & CO. (INDIA) LTD.
                                   TABLE 308 BRAITHWAITE & CO. (INDIA) LTD: COMPANY OVERVIEW
             12.2.29 DAWONSYS CO., LTD.
                                   TABLE 309 DAWONSYS CO., LTD.: COMPANY OVERVIEW
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
 
13 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 392)
     13.1 ASIA OCEANIA EXPECTED TO BE PROMINENT MARKET FOR ROLLING STOCK GLOBALLY 
     13.2 RISING NEED FOR FREIGHT TRANSPORTATION TO DRIVE DEMAND FOR WAGONS 
     13.3 GROWING NEED FOR FAST AND EFFICIENT URBAN TRANSPORTATION TO DRIVE DEMAND FOR SUBWAYS/METROS 
     13.4 CONCLUSION 
 
14 APPENDIX (Page No. - 394)
     14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the rolling stock market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study included rolling stock industry organizations [American Railway Association (ARA), Brazilian Association of the Railroad Suppliers (ABIFER), China Railway Society (CRS), China Academy of Railway Sciences (CARS), Gulf Cooperation Council (GCC), Indian Railway Conference Association (IRCA), Indian Railway Institute of Electrical Engineering (IRIEEN), International Union of Railways (UIC), Japan Association of Rolling Stock Industries (JARI), Mexican Association of Railway], corporate filings [such as annual reports, investor presentations, and financial statements], and trade, business, whitepapers, and databases, and articles from recognized associations and government publishing sources. The secondary data was collected and analyzed to arrive at the overall market size, which was further validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the rolling stock market through secondary research. Several primary interviews were conducted with market experts from both the demand (railway operators, system integrators, country-level government associations, and trade associations) and supply (OEMs and component manufacturers) sides across major regions, namely, North America, Europe, Asia Oceania, the Middle East & Africa, and the Rest of the World. Approximately 40% and 60% of primary interviews were conducted from the demand and supply sides, respectively . The primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were considered to provide a holistic viewpoint in this report.

Brief sessions with highly experienced independent consultants were conducted to reinforce findings from primaries after interacting with industry experts. This, along with the in-house subject matter experts’ opinions, led to the findings, as described in the remainder of this report.

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations. The primary sources from the demand side included end users, such as Chief Information Officers (CIOs), consultants, service professionals, technicians and technologists, and managers at public and investor-owned utilities.

Rolling Stock Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Multiple approaches were adopted for estimating and forecasting the rolling stock market. The first approach involved estimating the market size by summation of revenue generated through the sale of rolling stock. The top-down and bottom-up approaches were used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall market. The research methodology used to estimate the market size includes the following details. The key players in the market were identified through secondary research, and their market shares in respective regions were determined through primary and secondary research. The entire procedure included studying the annual and financial reports of top market players and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Bottom-Up Approach: Rolling Stock Market

Rolling Stock Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Top-Down Approach: Rolling Stock Market

Rolling Stock Market Size, and Share

Data Triangulation

After arriving at the overall market size through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Market definition

Rolling stock refers to railway vehicles. They are powered as well as unpowered vehicles such as locomotives, railroad cars, coaches, and wagons. Rolling stock is used for freight and passenger transport and plays a vital role in the transport infrastructure of a city or country. Rapid urbanization and industrialization and the increasing use of public transport to reduce traffic congestion are the key factors driving the growth of the rolling stock market.

Key Stackholders

  • Senior Management
  • Finance/Procurement Department
  • R&D Department
  • End User/Operator

Report Objectives

  • To segment and forecast the rolling stock market size in terms of volume (units) and value (USD million/billion)
  • To define, describe, and forecast the market based on product type, locomotive technology, Component, Application, and region.
  • To segment and forecast the market by product type [Locomotives (Diesel Locomotives, Electric Locomotives, Electro-Diesel Locomotives), Rapid Transit (Diesel Multiple Units, Electric Multiple Units, Light Rail/Trams, Subways/Metro, Monorail), Coaches, Wagons, and Others]
  • To segment and forecast the market by Locomotive Technology (Conventional Locomotives, Turbocharged Locomotives, and Maglev)
  • To segment and forecast the market by Application type (Passenger Transportation and Freight Ttransportation)
  • To segment market by Component (Train Control Systems, Pantographs, Axles, Wheelsets, Traction Motors, Passenger Information Systems, Brakes, Air Conditioning Systems, Auxiliary Power Systems, Gearboxes, Baffle Gear, and Coupler)
  • To forecast the market size with respect to key regions, namely, North America, Europe, Asia Oceania, Middle East & Africa and Rest of the World
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To analyze technological developments impacting the market
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders in the rolling stock market
  • To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market.
  • To study the following with respect to the market
    • Value Chain Analysis
    • Ecosystem Analysis
    • Technology Analysis
    • Trade Analysis
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Conference and Events
    • Macro-economic Factor
    • Average Selling Price Analysis
    • Buying Criteria
  • To strategically profile key players and comprehensively analyze their market share and their core competencies.
  • To track and analyze competitive developments such as deals (joint ventures, mergers & acquisitions, partnerships, collaborations), new product development, supply contract and other activities carried out by key industry participants

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with the company’s specific needs.

  • Rolling stock market, by technology type at the country level (For countries covered in the report)
  • Rolling stock market, by product type at the country level (For countries covered in the report)

Company Information

  • Profiling of additional market players (Up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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