Rolling Stock Market

Rolling Stock Market by Product Type (Locomotive, Rapid Transit, Wagon, and Coach), Locomotive Technology (Conventional, Turbocharged, and Maglev), Application (Passenger and Freight) & Region – Global Trends and Forecast to 2025

Report Code: AT 3235 Mar, 2021, by marketsandmarkets.com

[305 Pages Report] The Global Rolling Stock Market size is projected to grow from USD 51.6 billion in 2020 to USD 64.3 billion by 2025, at a CAGR of 4.5%. Increasing urbanization leads to increase in demand for passenger transportation which is likely to drive rollingstock market. Factors such as increase investment in rail infrastructure and expansion of rail network would enable growth of this market.

Increase in developments of Metro projects and expansion of electrified network rail route will further create opportunities for OEMs to expand their revenue stream and increase geographical presence. The market in Asia Oceania is projected to experience the second fastest growth after MEA region owing to the high demand of rail transportation from countries like China, Japan, South Korea and India. Meanwhile in European and North American market are growing due to increase in demand for passenger and freight transportation.

Rolling Stock Market

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COVID-19 Impact On Rolling Stock Market:

Major rolling stock manufacturers such as Bombardier (US) and Alstom (France) announced the suspension of production due to the decline in demand, supply chain bottlenecks, and to protect the safety of their employees in France, Germany, Italy, the US, and Spain during the COVID-19 pandemic. Demand for passenger rail vehicles declined in 2020, further impacting the rollingstock market. Additionally, budget allocations for R&D are expected to be significantly affected, which is expected to hamper the development of innovative rail development. The demand for rolling stock is largely proportional to government budgets along with the demand from rail operators. The ongoing COVID-19 pandemic witnessed a major decline of 20-30%% in production as well as sales of rail vehicles in 2020 (MarketsandMarkets Analysis). This decline is expected to adversely impact the market.

Manufacturers are expected to adjust production to prevent bottlenecks and plan production according to the demand from OEMs and their franchised service centers. Resumption of railway production plants, associated R&D centers, and railway maintenance centers is not expected in the immediate future due to the severity of the pandemic, especially in the US and major European countries. The decline in demand is majorly due to the reductions budget allocations for the railway sector by governments due to the spread of COVID-19 and the decline in demand from the Americas and Europe for the public transport segment.

Companies are taking various measures to deal with the negative effects of the outbreak of COVID-19. For instance, CRRC (China) is using the current market scenario to further strengthen its position by making strategic future-oriented investments and following a strict cost management program. The company is expected to offer new products which are expected to help receive supply contracts, which is expected to strengthen its position in the market. For instance, the first DMU developed by CRRC Dalian Co., Ltd. was exported to Abuja, Nigeria, and has successfully rolled off and entered the commissioning stage. In 2019, CRRC Zhuzhou Electric Locomotive Co., Ltd. was awarded a supply contract for 26 light rail vehicles by Monterrey Metro Bureau. 

The COVID-19 crisis is leading to uncertainties in the stock market, significantly slowing the supply chain, leading to a fall in business confidence, and increasing panic among customer segments. Trade barriers are further restraining the demand-supply outlook. As governments of different regions have announced total lockdowns and temporary shutdowns of industries, overall production processes have been adversely affected; thus, hindering the overall market globally. The new strain of the virus has grown out of control in the UK, due to which the second lockdown in the UK is expected to impact the rolling stock market in 2021. Demand is expected to decline and government budget allocations for rolling stock are expected to be delayed in the UK.

Driver: Increasing preference towards railway-based public transport as a means of reducing traffic congestion

According to the census report 2020, the US median household income level increased by 6.8% in 2019 compared to 2018. Rising income levels have increased the demand for personal mobility and led to a rise in road traffic in major cities across the globe. However, because of insufficient road network infrastructure, road congestion has increased and led to the increase in travel time in urban areas. In 2019, the average time spent driving in traffic congestion in major urban areas across the globe was 102 hours, and 21% was during peak time. To alleviate this situation, urban planners and local governments are merging rapid transit networks and tramways with the existing city infrastructure. Commuters are also seeking eco-friendly, reliable, and cost-effective means of transportation. Developed nations such as Germany, France, and the UK are promoting the use of the rapid transit systems to reduce traffic congestion.

Restraint: Capital Intensive rolling stock

Rolling stock and supporting infrastructure is highly capital-intensive and necessitates significant financial support from local and governments. As metropolitan regions witness traffic congestion and there is an increase in the demand for public transport, government bodies are expected to invest significantly in developing support infrastructure and enhancing existing infrastructure. These investments are expected to result in new orders for rolling stock. However, the high cost of new rail vehicles could discourage investments and act as a restraint. For instance, in 2018, the construction of the Klang Valley,Malaysia Mass Rapid Transit Line 3 has been canceled as a significant investment has been made for the development of MRT Line 1 and Line 2 in Klang Valley, Malaysia

Opportunity: Increase in industrial and mining activities

Globally, there has been a rapid increase in industrial activity. 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. During 2019–2020, more than 1,210.46 million tons of freight was transported in India through the railways. Increased mining activity in emerging economies is also expected to positively impact the market for freight transportation, which, in turn, is expected to propel the growth of freight wagons and locomotives.

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 instance, the annual maintenance cost of a high-speed trainset is approximately 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 infrastructure such as depots and berthing sites. Furthermore, 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.

The locomotive segment is expected to be the fastest growing segment during the forecast period

The locomotive segment is the fastest growing market. Due to the rising concerns about transmission losses, component weight, and environmental concerns, rolling stock manufacturers are increasingly focusing on developing technologically advanced solutions. Due to increasingly stringent fuel efficiency norms in North America and Europe, the diesel engine features the turbocharged technology which provides a 50% increase in engine power without additional increase in fuel cost as power is generated by the exhaust gas from the engine. The rolling stock industry is gradually shifting towards diesel-electric and electric locomotives

Technological advancements are a key driver for the EMU market

There has been a rapid increase in the number of technological advancements in the rolling stock market. The EMU segment is estimated to hold the largest market share, in terms of value, in 2020. This can be credited to the latest generation of EMUs, which are characterized by modular designs. An advanced electric multiple unit is more efficient and favorable than a diesel multiple unit. The demand for EMUs is expected to increase significantly owing to the construction of new high-speed train lines in China and the demand for new vehicles in Russia, Japan, Brazil, and the US. Such innovations would spur the growth of this market.

The Asia Oceania market is projected to hold the largest share by 2025

Asia Oceania is expected to be the largest market due to increased production, domestic demand, and capacity expansions by rolling stock manufacturers. This increase in production helps cope with the rising demand for rail transportation and concerns related to fuel-efficiency norms and regulations. In addition to domestic markets, there is an increase in demand from international markets. In January 2020, CRRC received an overseas supply contract worth USD 55.5 from Portugal to supply 18 new light rails with a maintenance period of five years. Thus, demand in the Asia Oceania region is on the rise. Further, The Indian Railways received an FDI investment of USD 1,071 million from April 2000 to December 2020, which is expected to further lead to the development of rail infrastructure, which is expected to the market. Japan is the technology leader in the rolling stock market which is majorly used for passenger transportation. The country is continuously investing in the development of innovative technologies in rolling stock. Previously, South Korea’s rolling stock industry was dependent on technologies developed by France and Japan. However, companies such as Hyundai Rotem are bringing technological developments in the country’s rollingstock market

Rolling Stock Market by Region

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Key Market Players

The key players considered in the analysis of the rolling stock market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), General Electric (US), Hyundai Rotem (South Korea), Kawasaki Heavy Industries (Japan), and Stadler (Switzerland). These companies offer extensive products and solutions for the rolling stock industry and have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.

Scope of the Report

Report Metric

Details

Market size available for years

2016–2025

Base year considered

2020

Forecast period

2021-2025

Forecast Market Size

Volume (Units) and Value (USD Million)

Segments covered

Rolling Stock Market by Product Type (Locomotives, Rapid Transit (DMU, EMU, Light Rail, Metro) Wagons, Coaches), Locomotive Propulsion (Diesel and Electric), Application (Passenger & Freight), Components, Technology (Conventional & Turbocharged) & Region

Geographies covered

Asia Oceania, Europe, North America, MEA and RoW

Companies Covered

CRRC (China), Alstom (France), Bombardier (Canada), CAF (US), GE (US), Siemens (Germany) and others
A total of 328major company profiles covered and provided

This research report categorizes this market based on Product type, by application type, by technology, by component and Region

By Product Type

  • Diesel Locomotive 
  • Electric Locomotive
  • Electro-diesel Locomotive
  • DMU
  • EMU
  • Light Rail/Tram
  • Subway/Metro
  • Coach
  • Wagon
  • Others

By Locomotive Technology 

  • Conventional Locomotive
  • Turbocharge Locomotive
  • Maglev

By Application

  • Passenger Application
  • Freight Application

By Component

  • Pantograph
  • Axle
  • Wheelset
  • Traction Motor
  • Auxiliary Power System
  • Air Conditioning System
  • Passenger Information System
  • Position Train Control
  • Brakes
  • Gearboxes
  • Train Control Sytem

By Region

  • North America
  • Asia Oceania
  • Europe
  • Middle East & Africa
  • RoW

Recent Developments

  • In December 2020, Alstom and ASELSAN entered into a collaboration agreement to establish a framework of cooperation and coordination in the field of ETCS Signaling Onboard.
  • In December 2020, Alstom successfully conducted the first test-run for the Mostaganem tramway project. During this phase, Alstom’s tramways have run from the secondary storage park T2 section to SNTF station, approximately 2 km
  • In Sept 2020, Stadler presented its new rail vehicles equipped with European train control systems to be operational by 2021.
  • In March 2020, Stadler won a contract to supply 1,500 Metro cars to Berlin Verkehrsbetriebe. The agreement is worth USD 3.2 billion which also includes the provision of spare parts.
  • In December 2019, Bombardier received the official Paris Transport Administration (RATP) order confirming that the Bombardier-Alstom consortium has been awarded the contract to design and produce the new generation of metros for Ξle-de-France Mobilities and RATP.
  • In November 2019, CAF Signaling continues to broaden operations in foreign markets having won the contract for the Ferrocarril Central project in Uruguay. The entire contract is worth approximately USD 56 million
  • In October 2019, Siemens Mobility showcased the latest in intelligent traffic systems technology at ITS World Congress which took place in Singapore.
  • In May 2020, CRRC acquired locomotive manufacturer Vossloh Group in Europe. The deal came into effect from 31st May 2020
  • In July 2019, CRRC Zhuzhou Institute Co., Ltd., a part of CRRC Corporation Limited, released the fully self-owned communication-based train control (CBTC) signaling system tSafer-UC1000
  • In Feb 2019, GE announced the completion of its merger with Wabtec for USD 2.9 million in cash and Wabtec nonvoting convertible preferred stock.
  • In December 2017, Chargepoint introduced Vallet view, a feature to see real time charging status.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 35)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
        TABLE 1 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                 TABLE 2 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
        FIGURE 1 ROLLING STOCK: MARKET SEGMENTATION
           1.3.1 YEARS CONSIDERED IN THE STUDY
    1.4 CURRENCY & PRICING
        TABLE 3 CURRENCY EXCHANGE RATES (W.R.T. USD)
    1.5 PACKAGE SIZE
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA
        FIGURE 2 GLOBAL ROLLINGSTOCK MARKET: RESEARCH DESIGN
        FIGURE 3 RESEARCH METHODOLOGY MODEL
    2.2 SECONDARY DATA
           2.2.1 KEY SECONDARY SOURCES
           2.2.2 KEY DATA FROM SECONDARY SOURCES
    2.3 PRIMARY DATA
        FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
           2.3.1 SAMPLING TECHNIQUES AND DATA COLLECTION METHODS
           2.3.2 PRIMARY PARTICIPANTS
    2.4 MARKET BREAKDOWN & DATA TRIANGULATION
        FIGURE 5 DATA TRIANGULATION
    2.5 MARKET SIZE ESTIMATION
           2.5.1 BOTTOM-UP APPROACH
                 FIGURE 6 GLOBAL MARKET: BOTTOM-UP APPROACH
           2.5.2 TOP-DOWN APPROACH
                 FIGURE 7 GLOBAL MARKET: TOP-DOWN APPROACH
    2.6 ASSUMPTIONS & ASSOCIATED RISKS
    2.7 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 51)
  FIGURE 8 ROLLING STOCK MARKET, BY REGION, 2020–2025
  FIGURE 9 ROLLING STOCK MARKET, BY PRODUCT TYPE, 2020 VS. 2025 (USD BILLION)
    3.1 IMPACT OF COVID-19 ON THE ROLLINGSTOCK MARKET
        FIGURE 10 IMPACT OF COVID-19 ON THE ROLLING STOCK MARKET, 2019–2025

4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES IN THIS MARKET
        FIGURE 11 INCREASING RAPID TRANSIT RAIL NETWORK PROJECTS EXPECTED TO BOOST THE GROWTH OF THE GLOBAL MARKET FROM 2020 TO 2025
    4.2 ROLLING STOCK MARKET SHARE, BY REGION
        FIGURE 12 MIDDLE EAST & AFRICA REGION IS PROJECTED TO GROW AT THE HIGHEST CAGR IN THIS MARKET FROM 2020 TO 2025
    4.3 ROLLING STOCK MARKET, BY PRODUCT TYPE
        FIGURE 13 WAGONS SEGMENT TO LEAD THIS MARKET DURING THE FORECAST PERIOD, 2020 VS 2025 (USD BILLION)
    4.4 ROLLING STOCK MARKET, BY APPLICATION
        FIGURE 14 FREIGHT TRANSPORTATION SEGMENT TO LEAD THE GLOBAL MARKET DURING THE FORECAST PERIOD, 2020 VS. 2025 (USD BILLION)
    4.5 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY
        FIGURE 15 CONVENTIONAL LOCOMOTIVES SEGMENT TO LEAD THE GLOBAL MARKET DURING THE FORECAST PERIOD, 2020 VS. 2025 (USD BILLION)

5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION
        FIGURE 16 ROLLING STOCK: MARKET DYNAMICS
           5.1.1 DRIVERS
                    5.1.1.1 Increasing preference towards railway-based public transport as a means of reducing traffic congestion
                            FIGURE 17 DRIVING TIME SPENT IN TRAFFIC CONGESTION, BY CITY, 2019
                    5.1.1.2 Rising demand for energy-efficient transport
                    5.1.1.3 Increasing demand for comfort and safety
           5.1.2 RESTRAINTS
                    5.1.2.1 Refurbishment of existing rolling stock
                    5.1.2.2 Capital-intensive rolling stock
           5.1.3 OPPORTUNITIES
                    5.1.3.1 Big data applications in the rail industry
                    5.1.3.2 Increase in industrial and mining activities
                            FIGURE 18 US - NORTH AMERICAN FREIGHT TRANSPORTATION, BY TRANSPORTATION MODE, 2017 VS. 2018
                            FIGURE 19 US: TOTAL MINING PRODUCTION, 2016–2019 (USD MILLION)
           5.1.4 CHALLENGES
                    5.1.4.1 High overhaul and maintenance costs
                    5.1.4.2 Requirement of high R&D investments
                            FIGURE 20 R&D INVESTMENTS OF KEY PLAYERS, 2019 (USD MILLION)
                            TABLE 4 IMPACT OF MARKET DYNAMICS
    5.2 PESTLE ANALYSIS
           5.2.1 POLITICAL FACTORS
                    5.2.1.1 Europe
                    5.2.1.2 Asia Oceania
                    5.2.1.3 North America
                    5.2.1.4 Rest of the World (RoW)
                    5.2.1.5 Middle East & Africa (MEA)
           5.2.2 ECONOMIC FACTORS
                    5.2.2.1 Europe
                    5.2.2.2 Asia Oceania
                    5.2.2.3 North America
                    5.2.2.4 Rest of the World (RoW)
                    5.2.2.5 Middle East & Africa (MEA)
           5.2.3 SOCIAL FACTORS
                    5.2.3.1 Europe
                    5.2.3.2 Asia Oceania
                    5.2.3.3 North America
                    5.2.3.4 Rest of the World (RoW)
                    5.2.3.5 Middle East & Africa (MEA)
           5.2.4 TECHNOLOGICAL FACTORS
                    5.2.4.1 Europe
                    5.2.4.2 Asia Oceania
                    5.2.4.3 North America
                    5.2.4.4 Rest of the World (RoW)
                    5.2.4.5 Middle East & Africa (MEA)
           5.2.5 LEGAL FACTORS
                    5.2.5.1 Europe
                    5.2.5.2 Asia Oceania
                    5.2.5.3 North America
                    5.2.5.4 Rest of the World (RoW)
                    5.2.5.5 Middle East & Africa (MEA)
           5.2.6 ENVIRONMENTAL FACTORS
                    5.2.6.1 Europe
                    5.2.6.2 Asia Oceania
                    5.2.6.3 North America
                    5.2.6.4 Rest of the World (RoW)
                    5.2.6.5 Middle East & Africa (MEA)
    5.3 PORTER’S FIVE FORCES MODEL ANALYSIS
        TABLE 5 PORTER’S FIVE FORCES ANALYSIS
        FIGURE 21 LARGE NUMBER OF PLAYERS IN THE MARKET LEADS TO MEDIUM COMPETITION IN THIS MARKET
        FIGURE 22 STRINGENT GOVERNMENT REGULATIONS AND REQUIREMENT OF SIGNIFICANT INVESTMENTS OFFER HINDRANCE IN ENTERING THE MARKET
        FIGURE 23 AVAILABILITY OF LOW NUMBER OF SUBSTITUTES MAKES THE THREAT MODERATE
        FIGURE 24 LARGE NUMBER OF COMPONENT SUPPLIERS OF TIER 1 COMPANIES MAKES THE BARGAINING POWER OF SUPPLIERS LOW
        FIGURE 25 SPECIFIC BUYER REQUIREMENT AND LARGE NUMBER OF SUPPLIERS MAKES THE BARGAINING POWER OF BUYERS HIGH
    5.4 ROLLING STOCK INDUSTRY ECOSYSTEM
        FIGURE 26 ROLLING STOCK MARKET: ECOSYSTEM ANALYSIS
    5.5 VALUE CHAIN ANALYSIS
        FIGURE 27 VALUE CHAIN ANALYSIS: ROLLINGSTOCK MARKET
           5.5.1 RESEARCH AND PRODUCT DEVELOPMENT EXECUTIVES
           5.5.2 RAW MATERIAL/COMPONENT SUPPLIERS
           5.5.3 ORIGINAL EQUIPMENT MANUFACTURERS
           5.5.4 TIER II SUPPLIERS
                 TABLE 6 ROLLING STOCK MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES
    5.6 PATENT ANALYSIS
        TABLE 7 PATENT REGISTRATIONS: ROLLING STOCK MARKET
    5.7 CASE STUDY ANALYSIS
           5.7.1 CASE STUDY 1: ALSTOM AND ASC GMBH ON ACCELERATION SENSOR TEST
    5.8 CASE STUDY 2: SIEMENS AND TUV GERMANY ON RESOLVING IT SECURITY DEFECTS
    5.9 PRICE TREND ANALYSIS
        FIGURE 28 ROLLING STOCK MARKET: PRICING ANALYSIS
    5.10 TARIFF AND REGULATORY OVERVIEW
    5.11 IMPORT AND EXPORT DATA
         FIGURE 29 US: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2014-2019 (USD MILLION)
         FIGURE 30 CHINA: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2014-2019 (USD MILLION)

6 IMPACT OF COVID – 19 (Page No. - 84)
    6.1 INTRODUCTION TO COVID-19
    6.2 COVID-19 HEALTH ASSESSMENT
        FIGURE 31 COVID-19: GLOBAL PROPAGATION
        FIGURE 32 COVID-19 PROPAGATION: SELECT COUNTRIES
    6.3 COVID-19 ECONOMIC ASSESSMENT
        FIGURE 33 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES FOR 2020
           6.3.1 ECONOMIC IMPACT OF COVID-19—SCENARIO ASSESSMENT
                 FIGURE 34 CRITERIA IMPACTING GLOBAL ECONOMY
                 FIGURE 35 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
           6.3.2 ANALYSIS OF THE IMPACT OF COVID-19 ON THE GLOBAL RAILWAY INDUSTRY
                 TABLE 8 IMPACT OF COVID-19 ON THE RAILWAY INDUSTRY
                 TABLE 9 IMPACT OF COVID-19 ON MARKET PLAYERS
           6.3.3 IMPACT OF COVID-19 ON THE ROLLINGSTOCK MARKET
    6.4 ROLLING STOCK, MARKET SCENARIOS (2020–2025)
        FIGURE 36 ROLLINGSTOCK MARKET: FUTURE TRENDS & SCENARIOS, 2020–2025 (USD MILLION)
           6.4.1 ROLLING STOCK MARKET, REALISTIC SCENARIO
                 TABLE 10 ROLLING STOCK MARKET: REALISTIC SCENARIO, BY REGION, 2020–2025 (USD MILLION)
           6.4.2 ROLLINGSTOCK MARKET, OPTIMISTIC SCENARIO
                 TABLE 11 ROLLING STOCK MARKET: OPTIMISTIC SCENARIO, BY REGION, 2020–2025 (USD MILLION)
           6.4.3 ROLLING STOCK MARKET, PESSIMISTIC SCENARIO
                 TABLE 12 ROLLING STOCK MARKET: PESSIMISTIC SCENARIO, BY REGION, 2020–2025 (USD MILLION)

7 INDUSTRY TRENDS (Page No. - 94)
    7.1 INTRODUCTION
    7.2 MAGNETIC LEVITATION TRAINS (MAGLEV)
           7.2.1 ADVANTAGES OF MAGLEV SYSTEM TRAINS
           7.2.2 HIGH-SPEED RAILWAY VS MAGLEV SYSTEMS
                 TABLE 13 HIGH-SPEED RAILWAY VS MAGLEV RAILWAY SYSTEMS (200-MPH HIGH-SPEED RAILWAY & 250-MPH MAGLEV)
           7.2.3 ECOLOGICAL IMPACT OF MAGLEV
                 FIGURE 37 SPECIFIC ENERGY CONSUMPTION BY ICE TRAIN VS. MAGLEV TRAIN (WATT-HOURS PER SEAT-KM)
                 FIGURE 38 CO2 EMISSIONS BY ICE TRAIN VS. MAGLEV TRAIN (GRAMS PER SEAT-KM)
    7.3 ROLLING STOCK REFURBISHMENT
           7.3.1 MAJOR CASE STUDIES/PROGRAMS
                    7.3.1.1 Strukton rail program
                    7.3.1.2 Queensland rail stabling program
                    7.3.1.3 Heathrow Express project
                    7.3.1.4 Enterprise refurbishment program
                    7.3.1.5 Belgian national railways
                    7.3.1.6 TXM projects program
                    7.3.1.7 ScotRail alliance
                    7.3.1.8 Eversholt renatus program
                    7.3.1.9 Other programs
           7.3.2 DIGITALIZATION OF RAILWAYS
           7.3.3 ARTICULATED AND NON-ARTICULATED TRAINS
           7.3.4 TILTING AND NON-TILTING TRAIN
           7.3.5 AUTONOMOUS TRAINS

8 GLOBAL ROLLING STOCK MARKET, BY COMPONENT (Page No. - 102)
    8.1 INTRODUCTION
    8.2 TRAIN CONTROL SYSTEMS
    8.3 PANTOGRAPHS
    8.4 AXLES
    8.5 WHEEL SETS
    8.6 TRACTION MOTORS
    8.7 PASSENGER INFORMATION SYSTEMS
    8.8 BRAKES
    8.9 AIR CONDITIONING SYSTEMS
    8.10 AUXILIARY POWER SYSTEMS
    8.11 GEARBOXES

9 GLOBAL MARKET, BY LOCOMOTIVE TECHNOLOGY (Page No. - 106)
    9.1 INTRODUCTION
        FIGURE 39 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2020 VS. 2025 (USD MILLION)
        TABLE 14 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2016–2019 (UNITS)
        TABLE 15 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2020–2025 (UNITS)
        TABLE 16 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2016–2019 (USD MILLION)
        TABLE 17 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY, 2020–2025 (USD MILLION)
    9.2 OPERATIONAL DATA
        TABLE 18 ROLLINGSTOCK MARKET, BY TECHNOLOGY TYPE
           9.2.1 ASSUMPTIONS
           9.2.2 RESEARCH METHODOLOGY
    9.3 CONVENTIONAL LOCOMOTIVES
        FIGURE 40 CONVENTIONAL LOCOMOTIVES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
           9.3.1 THE MARKET FOR CONVENTIONAL LOCOMOTIVES IN THE MIDDLE EAST & AFRICA IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
                 TABLE 19 CONVENTIONAL LOCOMOTIVES MARKET SIZE, BY REGION, 2016–2019 (UNITS)
                 TABLE 20 CONVENTIONAL LOCOMOTIVES MARKET SIZE, BY REGION, 2020–2025 (UNITS)
                 TABLE 21 CONVENTIONAL LOCOMOTIVES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 22 CONVENTIONAL LOCOMOTIVES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
    9.4 TURBOCHARGED LOCOMOTIVES
        FIGURE 41 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION,2020–2025 (USD MILLION)
           9.4.1 ASIA OCEANIA IS PROJECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE IN THE TURBOCHARGED LOCOMOTIVES MARKET FROM 2020 TO 2025
                 TABLE 23 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION, 2016–2019 (UNITS)
                 TABLE 24 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION, 2020–2025 (UNITS)
                 TABLE 25 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 26 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
    9.5 MAGLEV
           9.5.1 TYPES OF MAGLEV
                    9.5.1.1 Electromagnetic suspension
                    9.5.1.2 Electrodynamic suspension
                    9.5.1.3 Inductrack
    9.6 KEY INDUSTRY INSIGHTS

10 GLOBAL MARKET, BY PRODUCT TYPE (Page No. - 118)
     10.1 INTRODUCTION
          FIGURE 42 MARKET, BY PRODUCT TYPE, 2020 VS. 2025 (USD MILLION)
          TABLE 27 MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
          TABLE 28 MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
          TABLE 29 MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
          TABLE 30 MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
     10.2 OPERATIONAL DATA
          TABLE 31 MARKET, BYPRODUCT TYPE
             10.2.1 ASSUMPTIONS
             10.2.2 RESEARCH METHODOLOGY
     10.3 LOCOMOTIVES
          FIGURE 43 LOCOMOTIVES: MARKET, BY PROPULSION TYPE, 2020 VS. 2025 (USD MILLION)
          TABLE 32 LOCOMOTIVES: MARKET, BY PROPULSION TYPE, 2016–2019 (UNITS)
          TABLE 33 LOCOMOTIVES: MARKET, BY PROPULSION TYPE, 2020–2025 (UNITS)
          TABLE 34 LOCOMOTIVES: MARKET, BY PROPULSION TYPE, 2016–2019 (USD MILLION)
          TABLE 35 LOCOMOTIVES: MARKET, BY PROPULSION TYPE, 2020–2025 (USD MILLION)
             10.3.1 DIESEL LOCOMOTIVES
                        10.3.1.1 Asia Oceania is projected to be largest market for diesel locomotives
                                 TABLE 36 DIESEL LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 37 DIESEL LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 38 DIESEL LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 39 DIESEL LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.3.2 ELECTRIC LOCOMOTIVES
                        10.3.2.1 Asia Oceania is projected to be the largest market for electric locomotives
                                 TABLE 40 ELECTRIC LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 41 ELECTRIC LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 42 ELECTRIC LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 43 ELECTRIC LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.3.3 ELECTRO-DIESEL LOCOMOTIVES
                        10.3.3.1 Europe is projected to be the largest market for electro-diesel locomotives
                                 TABLE 44 ELECTRO-DIESEL LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 45 ELECTRO-DIESEL LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 46 ELECTRO-DIESEL LOCOMOTIVES: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 47 ELECTRO-DIESEL LOCOMOTIVES: MARKET, BY REGION, 2020–2025 (USD MILLION)
     10.4 RAPID TRANSIT
          FIGURE 44 RAPID TRANSIT: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2020 VS. 2025 (USD MILLION)
          TABLE 48 RAPID TRANSIT: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
          TABLE 49 RAPID TRANSIT: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
          TABLE 50 RAPID TRANSIT: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
          TABLE 51 RAPID TRANSIT: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             10.4.1 DIESEL MULTIPLE UNITS (DMUS)
                        10.4.1.1 North America is the fastest-growing market for DMUs
                                 TABLE 52 DIESEL MULTIPLE UNITS: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 53 DIESEL MULTIPLE UNITS: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 54 DIESEL MULTIPLE UNITS: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 55 DIESEL MULTIPLE UNITS: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.4.2 ELECTRIC MULTIPLE UNIT (EMU)
                        10.4.2.1 Europe is projected to be the largest market for EMUs
                                 TABLE 56 ELECTRIC MULTIPLE UNITS: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 57 ELECTRIC MULTIPLE UNITS: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 58 ELECTRIC MULTIPLE UNITS: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 59 ELECTRIC MULTIPLE UNIT: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.4.3 LIGHT RAILS/TRAMS
                        10.4.3.1 Asia Oceania is projected to hold largest market for light rails
                                 TABLE 60 LIGHT RAILS/TRAMS: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 61 LIGHT RAILS/TRAMS: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 62 LIGHT RAILS/TRAMS: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 63 LIGHT RAILS/TRAMS: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.4.4 SUBWAYS/METROS
                        10.4.4.1 Asia Oceania is projected to be fastest-growing and largest market for the metro
                                 TABLE 64 SUBWAYS/METROS: MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 65 SUBWAYS/METROS: MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 66 SUBWAYS/METROS: MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 67 SUBWAYS/METROS: MARKET, BY REGION, 2020–2025 (USD MILLION)
             10.4.5 MONORAILS
     10.5 COACHES
          FIGURE 45 COACHES: MARKET, BY REGION, 2020 VS. 2025 (USD MILLION)
             10.5.1 INCREASING URBANIZATION AND EFFORTS TO CONTROL TRAFFIC CONGESTION ARE INCREASING THE DEMAND FOR COACHES
                    TABLE 68 COACHES: MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 69 COACHES: MARKET, BY REGION, 2020–2025 (UNITS)
                    TABLE 70 COACHES: MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 71 COACHES: MARKET, BY REGION, 2020–2025 (USD MILLION)
     10.6 WAGONS
          FIGURE 46 WAGONS: MARKET, BY REGION, 2020 VS. 2025 (USD MILLION)
             10.6.1 HIGH EFFICIENCY AND LOW EMISSIONS BY ROLLING STOCK FOR BULK GOODS TRANSPORTATION IS LEADING TO THE INCREASING DEMAND FOR WAGONS GLOBALLY
                    TABLE 72 WAGONS: MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 73 WAGONS: MARKET, BY REGION, 2020–2025 (UNITS)
                    TABLE 74 WAGONS: MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 75 WAGONS: MARKET, BY REGION, 2020–2025 (USD MILLION)
     10.7 OTHERS
             10.7.1 HYPERLOOP – THE FUTURE OF TRANSPORTATION

11 ROLLING STOCK MARKET, BY APPLICATION (Page No. - 148)
     11.1 INTRODUCTION
          FIGURE 47 GLOBAL MARKET, BY APPLICATION, 2020 VS. 2025 (USD BILLION)
          TABLE 76 GLOBAL MARKET, BY APPLICATION, 2016–2019 (UNITS)
          TABLE 77 GLOBAL MARKET, BY APPLICATION, 2020–2025 (UNITS)
          TABLE 78 GLOBAL MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
          TABLE 79 GLOBAL MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
     11.2 OPERATIONAL DATA
          TABLE 80 ROLLING STOCK BASED ON APPLICATION TYPE
             11.2.1 ASSUMPTIONS
             11.2.2 RESEARCH METHODOLOGY
     11.3 PASSENGER TRANSPORTATION
          FIGURE 48 PASSENGER TRANSPORTATION: ROLLINGSTOCK MARKET, BY REGION, 2020 VS. 2025 (USD MILLION)
          TABLE 81 PASSENGER TRANSPORTATION: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
          TABLE 82 PASSENGER TRANSPORTATION: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
          TABLE 83 PASSENGER TRANSPORTATION: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
          TABLE 84 PASSENGER TRANSPORTATION: ROLLINGSTOCK MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             11.3.1 LOCOMOTIVES
                        11.3.1.1 Asia Oceania is projected to dominate the locomotive passenger transportation market
                                 TABLE 85 LOCOMOTIVES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 86 LOCOMOTIVES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 87 LOCOMOTIVES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 88 LOCOMOTIVES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2020–2025 (USD MILLION)
             11.3.2 COACHES
                        11.3.2.1 The market in the Middle East & Africa is projected to be the fastest-growing for coaches for passenger transportation
                                 TABLE 89 COACHES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 90 COACHES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 91 COACHES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 92 COACHES: PASSENGER TRANSPORTATION ROLLINGSTOCK MARKET, BY REGION, 2020–2025 (USD MILLION)
     11.4 FREIGHT
          FIGURE 49 FREIGHT: ROLLING STOCK MARKET, BY REGION, 2020 VS. 2025 (USD MILLION)
          TABLE 93 FREIGHT: ROLLING STOCK MARKET, BY APPLICATION, 2016–2019 (UNITS)
          TABLE 94 FREIGHT: ROLLING STOCK MARKET, BY APPLICATION, 2020–2025 (UNITS)
          TABLE 95 FREIGHT: ROLLING STOCK MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
          TABLE 96 FREIGHT: ROLLING STOCK MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
             11.4.1 LOCOMOTIVES
                        11.4.1.1 Asia Oceania is projected to be the largest market for locomotives for freight transportation
                                 TABLE 97 LOCOMOTIVES: FREIGHT TRANSPORTATION MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 98 LOCOMOTIVES: FREIGHT TRANSPORTATION MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 99 LOCOMOTIVES: FREIGHT TRANSPORTATION MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 100 LOCOMOTIVES: FREIGHT TRANSPORTATION MARKET, BY REGION, 2020–2025 (USD MILLION)
             11.4.2 WAGONS
                        11.4.2.1 High demand for rail freight transportation in North America is expected to boost the market for wagons in the region
                                 TABLE 101 WAGONS: FREIGHT TRANSPORTATION MARKET, BY REGION, 2016–2019 (UNITS)
                                 TABLE 102 WAGONS: FREIGHT TRANSPORTATION MARKET, BY REGION, 2020–2025 (UNITS)
                                 TABLE 103 WAGONS: FREIGHT TRANSPORTATION MARKET, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 104 WAGONS: FREIGHT TRANSPORTATION MARKET, BY REGION, 2020–2025 (USD MILLION)
     11.5 KEY INDUSTRY INSIGHTS

12 ROLLING STOCK MARKET, BY REGION (Page No. - 165)
     12.1 INTRODUCTION
          FIGURE 50 GLOBAL MARKET, BY REGION, 2020–2025
          TABLE 105 GLOBAL MARKET, BY REGION, 2016–2019 (UNITS)
          TABLE 106 GLOBAL MARKET, BY REGION, 2020–2025 (UNITS)
          TABLE 107 GLOBAL MARKET, BY REGION, 2016–2019 (USD MILLION)
          TABLE 108 GLOBAL MARKET, BY REGION, 2020–2025 (USD MILLION)
     12.2 OPERATIONAL DATA
          TABLE 109 MAJOR ROLLING STOCK PLAYERS, BY REGION
             12.2.1 ASSUMPTIONS
             12.2.2 RESEARCH METHODOLOGY
     12.3 ASIA OCEANIA
             12.3.1 EXISTING/UPCOMING RAPID TRANSIT PROJECTS IN ASIA OCEANIA
                    TABLE 110 PROPOSED RAPID TRANSIT PROJECTS IN ASIA OCEANIA
             12.3.2 UPCOMING LIGHT RAIL PROJECTS IN ASIA OCEANIA
                    TABLE 111 PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA
             12.3.3 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN ASIA OCEANIA
                    TABLE 112 PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA
                    FIGURE 51 ASIA OCEANIA: MARKET SNAPSHOT
                    TABLE 113 ASIA OCEANIA: MARKET, BY COUNTRY, 2016–2019 (UNITS)
                    TABLE 114 ASIA OCEANIA: MARKET, BY COUNTRY, 2020–2025 (UNITS)
                    TABLE 115 ASIA OCEANIA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 116 ASIA OCEANIA: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             12.3.4 CHINA
                        12.3.4.1 Increasing investments for the development of high-speed rail to propel Chinese rolling stock market
                                 TABLE 117 CHINA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 118 CHINA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 119 CHINA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 120 CHINA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.3.5 INDIA
                        12.3.5.1 Increasing government investments for the electrification of railway tracks to boost the demand for electric locomotives in India
                                 TABLE 121 INDIA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 122 INDIA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 123 INDIA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 124 INDIA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.3.6 JAPAN
                        12.3.6.1 Japanese rolling stock market is dominated by the EMUs segment
                                 TABLE 125 JAPAN: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 126 JAPAN: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 127 JAPAN: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 128 JAPAN:MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.3.7 SOUTH KOREA
                        12.3.7.1 By volume, light rails/trams dominate the South Korean rolling stock market
                                 TABLE 129 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 130 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 131 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 132 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.3.8 AUSTRALIA
             12.3.9 MALAYSIA
     12.4 EUROPE
             12.4.1 UPCOMING METRO/MONORAIL PROJECTS IN EUROPE
                    TABLE 133 PROPOSED METRO/MONORAIL PROJECTS IN EUROPE
             12.4.2 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
                    TABLE 134 PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
             12.4.3 UPCOMING RAPID TRANSIT PROJECTS IN EUROPE
                    TABLE 135 PROPOSED RAPID TRANSIT PROJECTS IN EUROPE
                    FIGURE 52 EUROPE: MARKET SNAPSHOT
                    TABLE 136 EUROPE: MARKET, BY COUNTRY, 2016–2019 (UNITS)
                    TABLE 137 EUROPE: MARKET, BY COUNTRY, 2020–2025 (UNITS)
                    TABLE 138 EUROPE: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 139 EUROPE: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             12.4.4 GERMANY
                        12.4.4.1 EMUs segment is projected to account for the largest market share in the German rolling stock market
                                 TABLE 140 GERMANY: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 141 GERMANY: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 142 GERMANY: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 143 GERMANY: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.4.5 FRANCE
                        12.4.5.1 Upcoming investments for the development of railway infrastructure to boost rolling stock market in France
                                 TABLE 144 FRANCE: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 145 FRANCE: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 146 FRANCE: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 147 FRANCE: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.4.6 UK
                        12.4.6.1 Electric multiple unit segment is projected to dominate the market in the UK
                                 TABLE 148 UK: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 149 UK: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 150 UK: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 151 UK: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.4.7 ITALY
                        12.4.7.1 Electric locomotive segment is projected to be fastest growing in Italian rolling stock market
                                 TABLE 152 ITALY: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 153 ITALY: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 154 ITALY: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 155 ITALY: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.4.8 SPAIN
                        12.4.8.1 EMU segment is the fastest-growing segment in the Spanish rolling stock market
                                 TABLE 156 SPAIN: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 157 SPAIN: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 158 SPAIN: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 159 SPAIN: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.4.9 SWITZERLAND
             12.4.10 AUSTRIA
             12.4.11 SWEDEN
     12.5 NORTH AMERICA
             12.5.1 EXISTING/UPCOMING METRO/MONORAIL PROJECTS IN NORTH AMERICA
                    TABLE 160 PROPOSED METRO/MONORAIL PROJECTS IN NORTH AMERICA
             12.5.2 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
                    TABLE 161 PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
             12.5.3 UPCOMING RAPID TRANSIT PROJECTS IN NORTH AMERICA
                    TABLE 162 PROPOSED RAPID TRANSIT PROJECTS IN NORTH AMERICA
                    FIGURE 53 NORTH AMERICA: MARKET SNAPSHOT
                    TABLE 163 NORTH AMERICA: MARKET, BY COUNTRY, 2016–2019 (UNITS)
                    TABLE 164 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2025 (UNITS)
                    TABLE 165 NORTH AMERICA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 166 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             12.5.4 US
                        12.5.4.1 Increasing adoption of rolling stock for freight transportation to propel rolling stock market in the US
                                 TABLE 167 US: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 168 US: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 169 US: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 170 US: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.5.5 MEXICO
                        12.5.5.1 The wagons segment is expected to account for the largest share of the Mexican market in terms of volume
                                 TABLE 171 MEXICO: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 172 MEXICO: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 173 MEXICO: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 174 MEXICO: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.5.6 CANADA
                        12.5.6.1 The market in Canada is dominated by the wagons segment
                                 TABLE 175 CANADA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 176 CANADA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 177 CANADA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 178 CANADA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
     12.6 MIDDLE EAST & AFRICA (MEA)
          FIGURE 54 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2020 VS. 2025 (USD MILLION)
             12.6.1 UPCOMING METRO/MONORAIL PROJECTS IN THE MIDDLE EAST & AFRICA
                    TABLE 179 PROPOSED METRO/MONORAIL PROJECTS IN THE MIDDLE EAST & AFRICA
             12.6.2 UPCOMING RAPID TRANSIT PROJECTS IN THE MIDDLE EAST & AFRICA
                    TABLE 180 PROPOSED RAPID TRANSIT PROJECTS IN THE MIDDLE EAST & AFRICA
                    TABLE 181 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2016–2019 (UNITS)
                    TABLE 182 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2020–2025 (UNITS)
                    TABLE 183 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 184 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             12.6.3 SOUTH AFRICA
                        12.6.3.1 Increasing urbanization to fuel South Africa rolling stock market
                                 TABLE 185 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 186 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 187 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 188 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.6.4 UAE
                        12.6.4.1 Increasing investments for the development of railway network to propel rolling stock market in the UAE
                                 TABLE 189 UAE: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 190 UAE: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 191 UAE: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 192 UAE: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.6.5 EGYPT
                        12.6.5.1 Electric locomotives segment is projected to be the fastest-growing in Egypt
                                 TABLE 193 EGYPT: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 194 EGYPT: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 195 EGYPT: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 196 EGYPT: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.6.6 IRAN
     12.7 REST OF THE WORLD (ROW)
          FIGURE 55 REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2020 VS. 2025 (USD MILLION)
             12.7.1 UPCOMING METRO/MONORAIL PROJECTS IN THE REST OF THE WORLD
                    TABLE 197 PROPOSED METRO/MONORAIL PROJECTS IN THE REST OF THE WORLD
                    TABLE 198 REST OF THE WORLD: MARKET, BY COUNTRY, 2016–2019 (UNITS)
                    TABLE 199 REST OF THE WORLD: MARKET, BY COUNTRY, 2020–2025 (UNITS)
                    TABLE 200 REST OF THE WORLD: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 201 REST OF THE WORLD: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             12.7.2 BRAZIL
                        12.7.2.1 Electro-diesel locomotives segment projected to grow at the highest CAGR
                                 TABLE 202 BRAZIL: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 203 BRAZIL: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 204 BRAZIL: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 205 BRAZIL: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.7.3 RUSSIA
                        12.7.3.1 Growing freight corridor to propel rolling stock market in Russia
                                 TABLE 206 RUSSIA: MARKET, BY PRODUCT TYPE, 2016–2019 (UNITS)
                                 TABLE 207 RUSSIA: MARKET, BY PRODUCT TYPE, 2020–2025 (UNITS)
                                 TABLE 208 RUSSIA: MARKET, BY PRODUCT TYPE, 2016–2019 (USD MILLION)
                                 TABLE 209 RUSSIA: MARKET, BY PRODUCT TYPE, 2020–2025 (USD MILLION)
             12.7.4 ARGENTINA
     12.8 KEY INDUSTRY INSIGHTS

13 COMPETITIVE LANDSCAPE (Page No. - 235)
     13.1 MARKET EVALUATION FRAMEWORK
          FIGURE 56 MARKET EVALUATION FRAMEWORK
     13.2 OVERVIEW
          FIGURE 57 KEY DEVELOPMENTS BY LEADING PLAYERS IN THE ROLLING STOCK MARKET
     13.3 MARKET SHARE ANALYSIS FOR ROLLING STOCK 
          FIGURE 58 MARKET SHARE ANALYSIS, 2019
     13.4 MARKET RANKING ANALYSIS FOR THE ROLLING STOCK MARKET
          FIGURE 59 MARKET RANKING ANALYSIS, 2019
     13.5 IMPACT OF COVID-19 ON COMPANIES IN THIS MARKET
     13.6 COMPETITIVE SCENARIO
             13.6.1 NEW PRODUCT DEVELOPMENTS
                    TABLE 210 NEW PRODUCT DEVELOPMENTS, 2017–2020
             13.6.2 MERGERS & ACQUISITIONS
                    TABLE 211 MERGERS & ACQUISITIONS, 2017–2020
             13.6.3 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/ JOINT VENTURES/LICENSE AGREEMENTS
                    TABLE 212 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/JOINT VENTURES/ AGREEMENTS, 2017–2020
             13.6.4 EXPANSIONS
                    TABLE 213 EXPANSIONS, 2017–2020
     13.7 COMPETITIVE LEADERSHIP MAPPING FOR ROLLINGSTOCK MARKET
             13.7.1 STARS
             13.7.2 EMERGING LEADERS
             13.7.3 PERVASIVE
             13.7.4 EMERGING COMPANIES
     13.8 STRENGTH OF PRODUCT PORTFOLIO
          FIGURE 61 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN THIS MARKET
     13.9 BUSINESS STRATEGY EXCELLENCE
          FIGURE 62 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN THIS MARKET
     13.10 START-UP/SME EVALUATION MATRIX, 2019
     13.11 WINNERS VS. TAIL-ENDERS
           TABLE 214 WINNERS VS. TAIL-ENDERS

14 COMPANY PROFILES (Page No. - 249)
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
     14.1 CRRC
          FIGURE 63 CRRC: COMPANY SNAPSHOT
     14.2 ALSTOM
          FIGURE 64 ALSTOM: COMPANY SNAPSHOT
     14.3 BOMBARDIER
          FIGURE 65 BOMBARDIER: COMPANY SNAPSHOT
     14.4 SIEMENS
          FIGURE 66 SIEMENS: COMPANY SNAPSHOT
     14.5 KAWASAKI HEAVY INDUSTRIES
          FIGURE 67 KAWASAKI HEAVY INDUSTRIES: COMPANY SNAPSHOT
     14.6 GENERAL ELECTRIC
          FIGURE 68 GENERAL ELECTRIC: COMPANY SNAPSHOT
     14.7 STADLER
          FIGURE 69 STADLER: COMPANY SNAPSHOT
     14.8 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES
          FIGURE 70 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.:COMPANY SNAPSHOT
     14.9 HYUNDAI ROTEM
          FIGURE 71 HYUNDAI ROTEM: COMPANY SNAPSHOT
     14.10 MITSUBISHI HEAVY INDUSTRIES
           FIGURE 72 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT
     14.11 TALGO
           FIGURE 73 TALGO: COMPANY SNAPSHOT
     14.12 TRANSMASHHOLDING
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
     14.13 OTHER KEY PLAYERS
             14.13.1 ASIA OCEANIA
                        14.13.1.1 Toshiba
                        14.13.1.2 Hitachi
                        14.13.1.3 Chittaranjan Locomotive Works (CLW)
                        14.13.1.4 Tech Mahindra
                        14.13.1.5 Niigata Transys
                        14.13.1.6 Scomi Engineering
                        14.13.1.7 Woojin Industrial Systems
             14.13.2 EUROPE
                        14.13.2.1 ABB
                        14.13.2.2 Strukton
                        14.13.2.3 Legios
                        14.13.2.4 DEUTA-WERKE
                        14.13.2.5 Thales Group
                        14.13.2.6 Deutsche Bahn
                        14.13.2.7 Lamifil
                        14.13.2.8 Rhomberg Rail
                        14.13.2.9 Balfour Beatty
                                     14.13.2.10 Intamin Bahntechnik
             14.13.3 NORTH AMERICA
                        14.13.3.1 American Equipment Company
                        14.13.3.2 Wabtec
                        14.13.3.3 Ingeteam
                        14.13.3.4 CalAmp
                        14.13.3.5 Urbanaut Monorail Technology
             14.13.4 REST OF THE WORLD
                        14.13.4.1 UGL
                        14.13.4.2 Randon
                        14.13.4.3 Sinara Transport Machines
                        14.13.4.4 Alucast Iran

15 APPENDIX (Page No. - 297)
     15.1 KEY INDUSTRY INSIGHTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 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

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, 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), International Union of Railways (UIC), The Association of the European Rail Industry (UNIFE), trade websites, government organizations websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the rolling stock market.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of this market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across major regions, namely, Asia Pacific, Europe, North America, Middle East & Africa and Rest of world (RoW). Approximately 23% and 77% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.

After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.

Rolling Stock Market Size, and Share

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

Market Size Estimation

The bottom-up approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research
  • The industry’s supply chain and market size, in terms of volume and value, have been determined through primary and secondary research processes
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the size of the rollingstock market with respect to growth trends and prospects and determine the contribution of the segments to the total market
  • To analyze and forecast the size of the market in terms of volume (units) and value (USD million)
  • To segment the market and forecast its size, by volume and value, based on region (Asia Oceania, Europe, North America, Middle East & Africa (MEA), and the Rest of the World (RoW))
  • To segment the market and forecast its size, by volume and value, based on product type (locomotives, rapid transit, wagons, coaches and others)
  • To segment the market and forecast its size, by volume and value, based on locomotive technology (conventional locomotives, turbocharged locomotives, and qualitative insights on Maglev)
  • To segment the market and forecast its size, by volume and value, based on application (passenger transportation and freight transportation)
  • To provide qualitative insights on the market based on component (pantographs, axles, wheelsets, traction motors, passenger information systems, air conditioning systems, auxiliary power systems, train control systems, brakes, and gearboxes)
  • To provide detailed information regarding the major factors influencing market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contribution to the total market
  • To track and analyze competitive developments such as joint ventures, mergers and acquisitions, new product launches, expansions, and other activities carried out by key industry participants

Available Customizations

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

Geographic Analysis

  • Additional country-level analysis of the rolling stock market
  • Country-level data for rolling stock market, by application

Company Information

  • Profiling of additional market players (up to 3)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Rolling Stock Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Rolling Stock Market

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AT 3235
Published ON
Mar, 2021
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