Rolling Stock Market

Rolling Stock Market by Component, Product Type (Locomotive, Rapid Transit, Wagon, & Coach), Locomotive Technology (Conventional, Turbocharged, & Maglev), Application (Passenger Transportation & Freight transportation) & Region – Global Trends and Forecast to 2027

Report Code: AT 3235 Mar, 2022, by marketsandmarkets.com

[356 Pages Report] The global rolling stock Market was valued at USD 53.8 billion in 2022 and expected to reach USD 64.8 billion by 2027 and grow at a CAGR of 3.8% over the forecast period (2022 - 2027). The growth of the market can be attributed to the factors such as increasing urbanization, increasing traffic congestion, rising demand for comfortable journey and growing preference for shorter journey time. Moreover, The demand for rolling stocks is dependent on some other factors such as the replacement of old rolling stocks, new railway projects, and the expansion of railway routes. Apart from this, the increasing electrification of railway networks is also expected to foster the growth of the market 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 of the countries prefer electricity as a source of energy for various rolling stocks. Thereby, the governments of various countries are actively involved in to planning of the new railway routes in their metro cities and suburban areas. As a result, the industry is experiencing a large number of upcoming and ongoing metro railway and intercity railway projects globally. Thereby, the demand for rolling stocks are likely to grow at a steady pace globally.

Attractive Opportunities in the Rolling Stock Market

Rolling Stock Market

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Market Dynamics:

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

According to census report 2021, the US median household income level increased by 1.8% in 2021 compared to 2020. The slow growth in median household income level is due to COVID-19. 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, road congestion and travel time in urban areas increased due to the insufficient road network infrastructure. In 2021, the average time spent driving in traffic congestion in major urban areas across the globe was 113.4 hours, and 21% was during peak traffic time. Thus, 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 rapid transit systems to reduce traffic congestion. India, China, Egypt, Brazil, and the Gulf countries have increased investments for the development of metros due to the growing urban population in these countries. For example, in 2021, 823.5 km metro rail in India was under construction in more than fifteen cities. In 2020, China planned an investment of USD 4.8 billion for 16 metro lines for a total length of 304.6 km and five railway projects for 132.1 km. Apart from this, in 2021, the Chinese government announced to invest USD 154.88 billion for expanding its railway network by 22,000km by 2025.

Restraint: Refurbishment of existing rolling stock

The need to increase vehicle capacity and the surging demand for reduced travel costs have boosted the market for rolling stock refurbishment. The existing fleet is required to be increased to accommodate the increasing numbers of passengers. However, the current capacity of rolling stock of several rail franchises is inadequate to meet the increased demand. Thus, refurbishment is a viable alternative to enhance capacity and provide an opportunity to address known reliability issues, improve train energy efficiency, and update vehicles to meet current requirements.

Opportunity: Big data applications in rail industry

Passengers are increasingly seeking an enhanced travel experience, which includes onboard internet and entertainment, smart ticketing, automated fare collection, and door-to-door services. Players in the transport industry are currently exploring ways to use big data retrieved from passengers’ smart devices to potentially improve business models of urban rail networks and the quality of services. The major objective of using big data and big data analytics is to create real-time predictive algorithms, scalable data structures, enable big data communications, and the application of visualization techniques.

The application of big data analytics can help understand operational, technical, and organizational issues related to railway transportation and its economic effects. Big data analytics provides information about the Traffic Management System (TMS), TMS decision making, remaining useful life, maintenance related service, and energy resources. It also allows rail operators to predict ridership rates and enhance their product offerings. Big data enables a better understanding of the condition and the predictive behavior of a rolling stock. Therefore, intelligent rail systems and big data can improve the reliability of the railways, minimize risks, reduce maintenance costs, and make the railway sector safer. For example, in 2020, the Indian Railways announced the conversion of rail yards into smart yards by using advanced technologies and gathering information about rolling stock conditions with the use of ICT systems, sensors, and data analytics. This is expected to enable identifying defects in wheels, brakes, bearings, axles, and others for rail maintenance and reduce turnaround time and increase safety.

Challenge: Sustained impact of COVID-19 on passenger transportation

Transportation through the railway has faced huge losses as passengers prefer personalized transport options for their daily commutation and short-distance travel due to the outbreak of COVID-19. Thus, railway service operators and railway route controlling organizations faced huge losses in 2021. For example, in Europe, there was a decline of 6% in railway passengers till the first half of 2021. Similarly, the revenue of Indian Railways had declined by 20% in the fiscal year 2021, and passenger traffic declined by 30% till the first half of 2021.

The railway passenger traffic in Japan decreased by 6% in the first half of 2021, and the passenger traffic declined by 11% in North America during the same period. As a result, various ongoing railway projects and the order of new rolling stocks have come to a halt or are growing at a slow pace due to a lack of funds. On the other hand, governments also face a lack of funds due to COVID-19.

By locomotive technology, conventional locomotive segment is expected to hold the larger share in the global rolling stock market

Diesel, and electric locomotives are considered conventional locomotives. The Asia Oceania region is the leading producer of rolling stock across the globe and is expected to retain this position during the forecast period for conventional locomotives. Developments in rail transport in Asia Oceania are expected to meet the increasing need for the modernization of the passenger transport system. In addition, increasing demand for electric locomotives globally and the growing electro-diesel market in Europe are expected to boost the demand for conventional locomotives.

By product type, wagon segment is expected to be the largest in rolling stock market during the forecast period

The high convenience and safety of railways, cost-effectiveness, and low emissions compared to other transport modes for bulk and mass freight transportation are boosting the market for freight transportation globally. Freight wagons are used to transport cargo such as bulk material, intermodal containers, general freight, or specialized freight in custom-designed cars. The demand for freight wagons is high in countries such as the US, China, and Russia due to the demand for replacements and the strong growth of the manufacturing sector. The availability of custom-made and technologically advanced wagons such as chemical and pressure tank wagons and car-carrier and low-loader container-carrying wagons are driving the market for freight wagons. This would fuel the demand for wagons during the forecast period.

By application type, freight transportation segment is expected to be the largest in rolling stock market during the forecast period

Cost savings, government funding, high efficiency, and reliability are the major drivers for the growth of freight transportation in the rolling stock market. Increasing government funding is expected to create a robust infrastructure for freight transportation. Moreover, the increasing need for effective transportation of industrial as well as commercial goods is boosting the growth of the market for freight transportation. Rail transportation is more efficient and cost-effective than other modes of transportation. Therefore, various countries are promoting the use of rolling stock for freight transportation. For example, in 2020, France announced doubling freight transportation from 9% in 2020 to 18% by 2030.In the fiscal year 2021-22, till August 2021, freight transportation accounted for a share of 79.1%of the total revenue generated by the Indian Railways. Hence, it is expected that the demand for freight transportation is likely to grow at a rapid pace in the coming years globally.

The Asia Oceania rolling stock market is projected to hold the largest share by 2027.

Asia Oceania is expected to account for the largest market share in terms of volume by 2027. The rolling stock industry in the Asia Oceania region has witnessed significant year-on-year growth due to the increasing need for effective public transit and freight transport. The region is also the largest producer of rolling stock and is expected to retain its leadership during the forecast period (2022–2027). 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. For example, the revenue earning of the Indian Railways for the financial year 2017-18 was USD 24.2 billion, which increased to USD 25.9 billion in FY 2018-19. However, the revenue earned by the Indian Railways was USD 21.1 billion, and in FY 2020-21, it reduced to USD 17 billion owing to COVID-19. In FY 2020-21, the Indian Railways allocated around USD 29.5 billion for capital projects to revive the railway industry. The high potential has led to an increase in the production of rolling stock, with OEMs catering not only to domestic demand but overseas as well. The Indian Railways received an FDI of USD 1,071 million from April 2000 to December 2020. In 2021, the Indian Railway Finance Corporation raised USD 182 million from anchor investors, which is expected to further lead to the development of rail infrastructure, which is expected to the market.

Rolling Stock Market by Region

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Key Market Players

The global rolling stock market is dominated by major players such as CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Wabtec Corporation (US), Kawasaki Heavy Industries, Ltd. (Japan), Stadler Rail AG (Switzerland), CAF Group (Spain), Hyundai Rotem Company (South Korea), Mitsubishi Heavy Industries Engineering, Ltd. (Japan), Talgo (Spain), Transmashholding (Russia), etc. These companies have secure distribution networks at a global level and offer a wide range of rolling stocks for passenger as well as freight transportation. The key strategies adopted by these companies to sustain their market position are collaborations, new product developments, acquisitions, etc.

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Scope of the Report

Report Attribute

Details

Base year for estimation

2022

Forecast period

2022 - 2030

Market Growth and Revenue forecast 

$ 64.8 Bn by 2027 at a CAGR of 3.8%

Top Players

CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), and Wabtec Corporation (US).

Fastest Growing Market

Europe

Largest Market

Asia Oceania

Segments Covered

 

By Product Type

Locomotive, Rapid Transit, Coaches & Wagons

By Application

Passenger Application, and 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 System, Baffle gear, and Coupler

By Technology

Conventional Locomotive, Turbocharged Locomotive, and Maglev

By Region

North America - Mexico, US, and Canada

Europe - Germany, France, Italy, Spain, and UK

Asia Pacific - China, India, Japan, and South Korea

Middle East & Africa - UAE, and

Rest of the World - Russia, and Brazil

Additional Customization to be offered

1) Rolling stock market, by technology, at country level
2) Rolling stock market, by product type, at country level
3) Profiling of additional market players (Up to 5)

This research report categorizes the rolling stock market based on product type, application, technology, by component and Region

Based on Product Type

  • Locomotive
    • Diesel Locomotive
    • Electric Locomotive
    • Electro-diesel Locomotive
  • Rapid Transit
    • DMU
    • EMU
    • Light Rails/Trams
    • Subways/Metros
    • Monorails
  • Coaches
  • Wagons
  • Others

Based on Locomotive Technology

  • Conventional Locomotive
  • Turbocharged Locomotive
  • Maglev

Based on Application

  • Passenger Application
  • Freight Application

Based on Component

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

Based on the Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia Oceania
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
  • Middle East & Africa
    • UAE
    • Egypt
    • South Africa
  • RoW
    • Brazil
    • Russia

Recent Developments

  • In January 2022, Alstom SA developed a battery train and started trial of passenger operation in Germany in collaboration with Deutsche Bahn.
  • In January 2022, Alstom SA received a supply contract for supplying 17 modern high-capacity Coradia Stream electric multiple units to DB Regio for the Main-Weser network in Germany. This contract consists of 13 four-car and four five-car trainsets.
  • In January 2022, Alstom SA received an order of supplying 200 Coradia Nordic trains to Norske Tog AS. The first batch of order delivery will consist of 30 trains with an order value of USD 430 million. Each trainset of Coradia Nordic consists of six single-deck coaches for a total capacity of 778 passengers and will be equipped with the latest ETCS signaling system.
  • In January 2022, Wabtec Corporation acquired MASU (India). This acquisition helped the company improve its product offering in railway friction business segment.
  • In January 2022, Transmashholding signed a supply contract with Argentina’s Transport Authorities (Argentina) to supply 70 passenger electric trains. The contract also includes maintenance service of the trains.
  • In January 2022, Transmashholding signed a supply contract with Central Exurban Passenger Company (Russia) to supply 77 EMU cars.
  • In December 2021, Alstom SA and Hitachi rail formed 50:50 joint venture company i.e., Hitachi-Alstom High Speed (HAH-S). This joint venture company has signed a contract to build and maintain High Speed Two (HS2) trains in Britain. This contract consists of supplying total 54 high speed trains and a 12-year train maintenance contract.
  • In December 2021, Siemens AG signed a framework agreement for the supply of 20 Vectron locomotives to Akiem (France).
  • In December 2021, Stadler Rail AG acquired German Verkehrstechnik GmbH (BBR) (Germany) to improve its expertise in railway technologies i.e., signaling technology and digitalization.
  • In December 2021, CRRC Corporation Limited developed an autonomous metro train for Shenzhen Metro Line 16. It is a fully automatic train, which can perform automatic recovery during event failure situation without human intervention. This train is equipped with GOA4 level technology, has total 6 Type A cars, and operates at a maximum speed of 80 km/hour.
  • In December 2021, CRRC Datong and State Power Investment Corporation (SPIC) jointly developed China’s first hydrogen fuel cell hybrid locomotive. This locomotive is now operational in Jinzhou-Baiyinhua Railway in Inner Mongolia Autonomous Region. This locomotive can operate for maximum 24.5 hours with full load of hydrogen at a maximum speed of 80 km/hour. The maximum traction load of this locomotive is up to 5,000 tons.
  • In December 2021, Siemens AG is developed Digital Train Control System in collaboration with VGF (Germany). This system is expected to replace the conventional train control system used in metro and tram network. This system is developed to increase the capacity and efficiency of train routes, especially in the underground sections.
  • In October 2021, Deutsche Bahn (DB) and Siemens Mobility developed the world’s first automatic train, which is fully automated and controlled by digital technology and needs no human interference. This development is the part of Digital S-Bahn Hamburg project.
  • In November 2021, Siemens AG received a supply order for 31 battery-operated trains from Niederbarnimer Eisenbahn (NEB).

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 ROLLING STOCK MARKET SEGMENTATION
           1.3.2 INCLUSIONS & EXCLUSIONS
                    TABLE 1 INCLUSIONS & EXCLUSIONS FOR STUDY OF MARKET
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY & PRICING
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 33)
    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
                    FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 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 ROLLING STOCK 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: RESEARCH DESIGN & METHODOLOGY
                    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 RESEARCH ASSUMPTIONS
    2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 46)
    FIGURE 11 ROLLING STOCK INDUSTRY OVERVIEW
    FIGURE 12 ROLLING STOCK MARKET, BY REGION, 2022–2027
    FIGURE 13 MARKET, BY PRODUCT TYPE, 2022 VS. 2027 (USD MILLION)
    FIGURE 14 KEY PLAYERS OPERATING IN THE MARKET, BY REGION

4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE ROLLING STOCK MARKET
          FIGURE 15 INCREASED INVESTMENTS IN RAPID TRANSIT PROJECTS EXPECTED TO DRIVE THE MARKET FOR ROLLING STOCKS
    4.2 MARKET SHARE, BY REGION
          FIGURE 16 ASIA OCEANIA IS ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THE MARKET IN 2022
    4.3 MARKET, BY PRODUCT TYPE
          FIGURE 17 RAPID TRANSIT SEGMENT EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.4 ROLLING STOCK MARKET, BY APPLICATION
          FIGURE 18 FREIGHT TRANSPORTATION SEGMENT EXPECTED TO LEAD MARKET DURING FORECAST PERIOD
    4.5 MARKET, BY LOCOMOTIVE TECHNOLOGY
          FIGURE 19 CONVENTIONAL LOCOMOTIVES SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR FROM 2022 TO 2027

5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 20 ROLLING STOCK: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increasing preference toward railway-based public transport as a means of reducing traffic congestion
                                FIGURE 21 DRIVING TIME SPENT IN TRAFFIC CONGESTION IN US, BY CITY, 2021
                    5.2.1.2 Rising demand 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 THE GLOBAL RAILWAY INDUSTRY, 2017-2050
                    5.2.1.5 Growth in rolling stock order
                                FIGURE 24 NEW ROLLING STOCK ORDERS, BY REGION, BY VOLUME (UNITS), 2020-2021(FIRST SIX MONTHS)
           5.2.2 RESTRAINTS
                    5.2.2.1 Refurbishment of existing rolling stock
                    5.2.2.2 Capital-intensive rolling stock
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Big data applications in the 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 power trains
           5.2.4 CHALLENGES
                    5.2.4.1 High overhaul and maintenance costs
                    5.2.4.2 Requirement of high R&D investments
                    5.2.4.3 Sustained impact of COVID-19 on passenger transportation
           5.2.5 IMPACT OF MARKET DYNAMICS
                    TABLE 2 ROLLING STOCK INDUSTRY: IMPACT OF MARKET DYNAMICS
    5.3 PESTLE ANALYSIS
           5.3.1 POLITICAL FACTORS
                    5.3.1.1 Europe
                    5.3.1.2 Asia Oceania
                    5.3.1.3 North America
                    5.3.1.4 Rest of the World (RoW)
                    5.3.1.5 Middle East & Africa (MEA)
           5.3.2 ECONOMIC FACTORS
                    5.3.2.1 Europe
                    5.3.2.2 Asia Oceania
                    5.3.2.3 North America
                    5.3.2.4 Rest of the World (RoW)
                    5.3.2.5 Middle East & Africa (MEA)
           5.3.3 SOCIAL FACTORS
                    5.3.3.1 Europe
                    5.3.3.2 Asia Oceania
                    5.3.3.3 North America
                    5.3.3.4 Rest of the World (RoW)
                    5.3.3.5 Middle East & Africa (MEA)
           5.3.4 TECHNOLOGICAL FACTORS
                    5.3.4.1 Europe
                    5.3.4.2 Asia Oceania
                    5.3.4.3 North America
                    5.3.4.4 Rest of the World (RoW)
                    5.3.4.5 Middle East & Africa (MEA)
           5.3.5 LEGAL FACTORS
                    5.3.5.1 Europe
                    5.3.5.2 Asia Oceania
                    5.3.5.3 North America
                    5.3.5.4 Rest of the World (RoW)
                    5.3.5.5 Middle East & Africa (MEA)
           5.3.6 ENVIRONMENTAL FACTORS
                    5.3.6.1 Europe
                    5.3.6.2 Asia Oceania
                    5.3.6.3 North America
                    5.3.6.4 Rest of the World (RoW)
                    5.3.6.5 Middle East & Africa (MEA)
    5.4 PORTER’S FIVE FORCES
          TABLE 3 IMPACT OF PORTER’S FIVE FORCES ON ROLLING STOCK MARKET
          FIGURE 26 PORTERS FIVE FORCES: MARKET
           5.4.1 INTENSITY OF COMPETITIVE RIVALRY
           5.4.2 THREAT OF SUBSTITUTES
           5.4.3 BARGAINING POWER OF BUYERS
           5.4.4 BARGAINING POWER OF SUPPLIERS
           5.4.5 THREAT OF NEW ENTRANTS
    5.5 KEY STAKEHOLDERS & BUYING CRITERIA
           5.5.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 27 INFLUENCE OF STAKEHOLDERS IN BUYING TOP 3 APPLICATIONS
                    TABLE 4 INFLUENCE OF STAKEHOLDERS IN BUYING TOP 3 ROLLING STOCK PRODUCTS (%)
           5.5.2 BUYING CRITERIA
                    FIGURE 28 KEY BUYING CRITERIA FOR TOP 3 PRODUCTS
          TABLE 5 KEY BUYING CRITERIA OF TOP 3 ROLLING STOCK PRODUCTS
    5.6 ROLLING STOCK MARKET ECOSYSTEM
          FIGURE 29 MARKET: ECOSYSTEM ANALYSIS
          FIGURE 30 MARKET: NEURAL NETWORK
          TABLE 6 ROLE OF COMPANIES IN THE ROLLING STOCK ECOSYSTEM
    5.7 VALUE CHAIN ANALYSIS
          FIGURE 31 VALUE CHAIN ANALYSIS: MARKET
           5.7.1 RESEARCH AND PRODUCT DEVELOPMENT EXECUTIVES
           5.7.2 RAW MATERIAL/COMPONENT SUPPLIERS
           5.7.3 ORIGINAL EQUIPMENT MANUFACTURERS
           5.7.4 TIER II SUPPLIERS
                    TABLE 7 ROLLING STOCK MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES
    5.8 TRENDS IMPACTING CUSTOMER’S BUSINESS
          FIGURE 32 TRENDS IMPACTING CUSTOMER’S BUSINESS IN MARKET
    5.9 PATENT ANALYSIS
          TABLE 8 PATENT ANALYSIS: MARKET (ACTIVE PATENTS)
          TABLE 9 PATENT ANALYSIS: MARKET (PENDING PATENTS)
    5.10 CASE STUDY ANALYSIS
           5.10.1 EXCAVATION OF BIG ANALOG DATA VALUE: COMPACTRIO & NI INSIGHTCM
           5.10.2 GOLINC-M MODULES
           5.10.3 INTELLIGENT ASSET MANAGEMENT (IAM)
    5.11 PRICE TREND ANALYSIS
           FIGURE 33 ROLLING STOCK MARKET: PRICING ANALYSIS
    5.12 TARIFF AND REGULATORY OVERVIEW
    5.13 IMPORT AND EXPORT DATA
           FIGURE 34 US: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2015-2020 (USD MILLION)
           FIGURE 35 CHINA: IMPORT AND EXPORT DATA FOR RAILWAYS AND TRAMWAYS, LOCOMOTIVES, ROLLING STOCK, AND PARTS, 2015-2020 (USD MILLION)
    5.14 KEY CONFERENCES & EVENTS IN 2022-2023
           TABLE 10 ROLLING STOCK MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.15 TARIFF AND REGULATORY LANDSCAPE
           5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 14 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.16 ROLLING STOCK MARKET: COVID-19 IMPACT
           5.16.1 ANALYSIS OF THE IMPACT OF COVID-19 ON THE RAILWAY INDUSTRY
                     TABLE 15 IMPACT OF COVID-19 ON THE RAILWAY INDUSTRY
                     TABLE 16 IMPACT OF COVID-19 ON MARKET PLAYERS
           5.16.2 IMPACT OF COVID-19 ON MARKET
    5.17 MARKET SCENARIOS (2022–2027)
           FIGURE 36 MARKET: FUTURE TRENDS & SCENARIOS, 2022–2027 (USD MILLION)
           5.17.1 MARKET, REALISTIC SCENARIO
                     TABLE 17 MARKET: REALISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)
           5.17.2 MARKET, OPTIMISTIC SCENARIO
                     TABLE 18 MARKET: OPTIMISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)
           5.17.3 ROLLING STOCK MARKET, PESSIMISTIC SCENARIO
                     TABLE 19 MARKET: PESSIMISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)

6 TECHNOLOGY ANALYSIS (Page No. - 98)
    6.1 INTRODUCTION
    6.2 MAGNETIC LEVITATION TRAINS (MAGLEV)
           6.2.1 ADVANTAGES OF MAGLEV SYSTEM TRAINS
           6.2.2 HIGH-SPEED RAILWAY VS. MAGLEV SYSTEMS
                    TABLE 20 HIGH-SPEED RAILWAY VS. MAGLEV RAILWAY SYSTEMS (200-MPH HIGH-SPEED RAILWAY & 250-MPH MAGLEV)
           6.2.3 ECOLOGICAL IMPACT OF MAGLEV
                    FIGURE 37 SPECIFIC ENERGY CONSUMPTION: ICE TRAIN VS. MAGLEV TRAIN (WATT-HOURS PER SEAT-KM)
                    FIGURE 38 CO2 EMISSIONS: ICE TRAIN VS. MAGLEV TRAIN (GRAMS PER SEAT-KM)
    6.3 ROLLING STOCK REFURBISHMENT
           6.3.1 MAJOR CASE STUDIES/PROGRAMS
                    6.3.1.1 Strukton rail program
                    6.3.1.2 Queensland rail stabling program
                    6.3.1.3 Heathrow Express project
                    6.3.1.4 Enterprise refurbishment program
                    6.3.1.5 Belgian national railways
                    6.3.1.6 TXM projects program
                    6.3.1.7 Scotrail alliance
                    6.3.1.8 Eversholt Renatus program
                    6.3.1.9 Refurbishment and maintenance for Belgian National Railways
                    6.3.1.10 Refurbishment and maintenance for NAT (National Authority for Tunnels) Egypt
                    6.3.1.11 Other programs
           6.3.2 DIGITALIZATION OF RAILWAYS
           6.3.3 ARTICULATED AND NON-ARTICULATED TRAINS
                    TABLE 21 DIFFERENCES BETWEEN ARTICULATED AND NON-ARTICULATED TRAINS
           6.3.4 TILTING AND NON-TILTING TRAIN
           6.3.5 AUTONOMOUS TRAINS
                    TABLE 22 LEVEL OF AUTONOMY FOR ROLLING STOCK
    6.4 KEY OPINIONS FROM INDUSTRY EXPERTS

7 ROLLING STOCK MARKET, BY COMPONENT (Page No. - 108)
    7.1 INTRODUCTION
    7.2 TRAIN CONTROL SYSTEMS
    7.3 PANTOGRAPHS
    7.4 AXLES
    7.5 WHEELSETS
    7.6 TRACTION MOTORS
    7.7 PASSENGER INFORMATION SYSTEMS
    7.8 BRAKES
    7.9 AIR CONDITIONING SYSTEMS
    7.10 AUXILIARY POWER SYSTEMS
    7.11 GEARBOXES
    7.12 BAFFLE GEAR
    7.13 COUPLER

8 ROLLING STOCK MARKET, BY LOCOMOTIVE TECHNOLOGY (Page No. - 112)
    8.1 INTRODUCTION
          FIGURE 39 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2022 VS. 2027 (USD MILLION)
          TABLE 23 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2021 (UNITS)
          TABLE 24 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2022–2027 (UNITS)
          TABLE 25 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2018–2021 (USD MILLION)
          TABLE 26 MARKET, BY LOCOMOTIVE TECHNOLOGY, 2022–2027 (USD MILLION)
    8.2 OPERATIONAL DATA
          TABLE 27 ROLLING STOCK MARKET, BY TECHNOLOGY TYPE
           8.2.1 ASSUMPTIONS
                    TABLE 28 ASSUMPTIONS: BY LOCOMOTIVE TECHNOLOGY
           8.2.2 RESEARCH METHODOLOGY
    8.3 CONVENTIONAL LOCOMOTIVES
           8.3.1 MIDDLE EAST & AFRICA EXPECTED TO BE THE FASTEST-GROWING MARKET FOR CONVENTIONAL LOCOMOTIVES FROM 2022–2027
                    FIGURE 40 CONVENTIONAL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 29 CONVENTIONAL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 30 CONVENTIONAL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 31 CONVENTIONAL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 32 CONVENTIONAL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.4 TURBOCHARGED LOCOMOTIVES
           8.4.1 ASIA OCEANIA EXPECTED TO HOLD LARGEST SHARE IN TURBOCHARGED LOCOMOTIVE MARKET DURING FORECAST PERIOD
                    FIGURE 41 TURBOCHARGED LOCOMOTIVES MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 33 TURBOCHARGED LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 34 TURBOCHARGED LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 35 TURBOCHARGED LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 36 TURBOCHARGED LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.5 MAGLEV
          TABLE 37 COMPARISON BETWEEN CONVENTIONAL HIGH-SPEED RAIL, MAGLEV AND HYPERLOOP
           8.5.1 TYPES OF MAGLEV
                    8.5.1.1 Electromagnetic suspension
                    8.5.1.2 Electrodynamic suspension
                    8.5.1.3 Inductrack
    8.6 KEY PRIMARY INSIGHTS

9 ROLLING STOCK MARKET, BY PRODUCT TYPE (Page No. - 125)
    9.1 INTRODUCTION
          FIGURE 42 MARKET, BY PRODUCT TYPE, 2022 VS. 2027 (USD MILLION)
          TABLE 38 MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
          TABLE 39 MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
          TABLE 40 MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
          TABLE 41 MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
    9.2 OPERATIONAL DATA
          TABLE 42 ROLLING STOCK OFFERING, BY COMPANY
           9.2.1 ASSUMPTIONS
                    TABLE 43 ASSUMPTIONS: BY PRODUCT TYPE
           9.2.2 RESEARCH METHODOLOGY
    9.3 LOCOMOTIVES
          FIGURE 43 LOCOMOTIVES MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)
          TABLE 44 LOCOMOTIVES MARKET, BY TYPE, 2018–2021 (UNITS)
          TABLE 45 LOCOMOTIVES MARKET, BY TYPE, 2022–2027 (UNITS)
          TABLE 46 LOCOMOTIVES MARKET, BY TYPE, 2018–2021 (USD MILLION)
          TABLE 47 LOCOMOTIVES MARKET, BY TYPE, 2022–2027 (USD MILLION)
           9.3.1 DIESEL LOCOMOTIVES
                    9.3.1.1 Asia Oceania accounts for the largest share of the diesel locomotive market
                                TABLE 48 DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 49 DIESEL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 50 DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 51 DIESEL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.3.2 ELECTRIC LOCOMOTIVES
                    9.3.2.1 Asia Oceania accounts for the largest share of the electric locomotives market during the forecast period
                                TABLE 52 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 53 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 54 ELECTRIC LOCOMOTIVES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 55 ELECTRIC LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.3.3 ELECTRO-DIESEL LOCOMOTIVES
                    9.3.3.1 Europe expected to be the largest market for electro-diesel during 2022–2027
                                TABLE 56 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 57 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 58 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 59 ELECTRO-DIESEL LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 RAPID TRANSIT
          FIGURE 44 RAPID TRANSIT MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)
          TABLE 60 RAPID TRANSIT MARKET, BY TYPE, 2018–2021 (UNITS)
          TABLE 61 RAPID TRANSIT MARKET, BY TYPE, 2022–2027 (UNITS)
          TABLE 62 RAPID TRANSIT MARKET, BY TYPE, 2018–2021 (USD MILLION)
          TABLE 63 RAPID TRANSIT MARKET, BY TYPE, 2022–2027 (USD MILLION)
           9.4.1 DIESEL MULTIPLE UNITS (DMUS)
                    9.4.1.1 North America expected to be the fastest-growing market for DMUS during the forecast period
                                TABLE 64 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 65 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 66 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 67 DIESEL MULTIPLE UNITS MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.4.2 ELECTRIC MULTIPLE UNIT (EMU)
                    9.4.2.1 EUROPE TO DOMINATE EMUS MARKET DURING FORECAST PERIOD
                                TABLE 68 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 69 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 70 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 71 ELECTRIC MULTIPLE UNITS MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.4.3 LIGHT RAILS/TRAMS
                    9.4.3.1 Asia Oceania accounted for the largest share of the light rails market during the forecast period
                                TABLE 72 LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 73 LIGHT RAILS/TRAMS MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 74 LIGHT RAILS/TRAMS MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 75 LIGHT RAILS/TRAMS MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.4.4 SUBWAYS/METROS
                    9.4.4.1 Asia Oceania accounted for the largest share of the metros market
                                TABLE 76 SUBWAYS/METROS MARKET, BY REGION, 2018–2021 (UNITS)
                                TABLE 77 SUBWAYS/METROS MARKET, BY REGION, 2022–2027 (UNITS)
                                TABLE 78 SUBWAYS/METROS MARKET, BY REGION, 2018–2021 (USD MILLION)
                                TABLE 79 SUBWAYS/METROS MARKET, BY REGION, 2022–2027 (USD MILLION)
           9.4.5 MONORAILS
    9.5 COACHES
           9.5.1 HIGH TRAFFIC CONGESTION LED TO A RISE IN DEMAND FOR COACHES
                    FIGURE 45 COACHES MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
                    TABLE 80 COACHES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 81 COACHES MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 82 COACHES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 83 COACHES MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 WAGONS
           9.6.1 RISE IN DEMAND FOR ENERGY-EFFICIENT FREIGHT TRANSPORT DRIVE THIS SEGMENT
                    FIGURE 46 WAGONS MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
                    TABLE 84 WAGONS MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 85 WAGONS MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 86 WAGONS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 87 WAGONS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.7 OTHERS
           9.7.1 HYPERLOOP – THE FUTURE OF TRANSPORTATION
    9.8 KEY PRIMARY INSIGHTS

10 ROLLING STOCK MARKET, BY APPLICATION (Page No. - 153)
     10.1 INTRODUCTION
             FIGURE 47 MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION)
             TABLE 88 MARKET, BY APPLICATION, 2018–2021 (UNITS)
             TABLE 89 MARKET, BY APPLICATION, 2022–2027 (UNITS)
             TABLE 90 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 91 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
     10.2 OPERATIONAL DATA
             TABLE 92 TYPES OF ROLLING STOCK, BY COMPANY, MODEL, AND APPLICATION
             10.2.1 ASSUMPTIONS
                        TABLE 93 ASSUMPTIONS: BY APPLICATION
             10.2.2 RESEARCH METHODOLOGY
     10.3 PASSENGER TRANSPORTATION
             FIGURE 48 ROLLING STOCK MARKET FOR PASSENGER TRANSPORTATION, BY TYPE, 2022 VS. 2027 (USD MILLION)
             TABLE 94 MARKET FOR PASSENGER TRANSPORTATION, BY TYPE, 2018–2021 (UNITS)
             TABLE 95 MARKET FOR PASSENGER TRANSPORTATION, BY TYPE, 2022–2027 (UNITS)
             TABLE 96 MARKET FOR PASSENGER TRANSPORTATION, BY TYPE, 2018–2021 (USD MILLION)
             TABLE 97 MARKET FOR PASSENGER TRANSPORTATION, BY TYPE, 2022–2027 (USD MILLION)
             10.3.1 LOCOMOTIVES
                        10.3.1.1 Asia Oceania accounts for the largest share of the passenger locomotives market from 2022–2027
                                      TABLE 98 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                                      TABLE 99 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                                      TABLE 100 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                                      TABLE 101 PASSENGER LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
             10.3.2 COACHES
                        10.3.2.1 Asia Oceania expected to hold the largest share of the passenger coaches market during the forecast period
                                      TABLE 102 PASSENGER COACHES MARKET, BY REGION, 2018–2021 (UNITS)
                                      TABLE 103 PASSENGER COACHES MARKET, BY REGION, 2022–2027 (UNITS)
                                      TABLE 104 PASSENGER COACHES MARKET, BY REGION, 2018–2021 (USD MILLION)
                                      TABLE 105 PASSENGER COACHES MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.4 FREIGHT TRANSPORTATION
             FIGURE 49 FREIGHT TRANSPORTATION SERVICES INDEX, DECEMBER 2018 – DECEMBER 2021
             FIGURE 50 ROLLING STOCK MARKET FOR FREIGHT TRANSPORTATION, BY REGION, 2022 VS. 2027 (USD MILLION)
             TABLE 106 MARKET FOR FREIGHT TRANSPORTATION, BY TYPE, 2018–2021 (UNITS)
             TABLE 107 MARKET FOR FREIGHT TRANSPORTATION, BY TYPE, 2022–2027 (UNITS)
             TABLE 108 MARKET FOR FREIGHT TRANSPORTATION, BY TYPE,  2018–2021 (USD MILLION)
             TABLE 109 MARKET FOR FREIGHT TRANSPORTATION, BY TYPE, 2022–2027 (USD MILLION)
             10.4.1 LOCOMOTIVES
                        10.4.1.1 Asia Oceania is expected to witness a rise in demand for locomotives due to the high growth of rail freight transportation
                                      TABLE 110 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2021 (UNITS)
                                      TABLE 111 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2022–2027 (UNITS)
                                      TABLE 112 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                                      TABLE 113 FREIGHT LOCOMOTIVES MARKET, BY REGION, 2022–2027 (USD MILLION)
             10.4.2 WAGONS
                        10.4.2.1 Asia Oceania to hold the largest share of freight wagon market from 2022–2027
                                      TABLE 114 FREIGHT WAGONS MARKET, BY REGION, 2018–2021 (UNITS)
                                      TABLE 115 FREIGHT WAGONS MARKET, BY REGION, 2022–2027 (UNITS)
                                      TABLE 116 FREIGHT WAGONS MARKET, BY REGION, 2018–2021 (USD MILLION)
                                      TABLE 117 FREIGHT WAGONS MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.5 KEY PRIMARY INSIGHTS

11 ROLLING STOCK MARKET, BY REGION (Page No. - 169)
     11.1 INTRODUCTION
             FIGURE 51 MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
             TABLE 118 MARKET, BY REGION, 2018–2021 (UNITS)
             TABLE 119 MARKET, BY REGION, 2022–2027 (UNITS)
             TABLE 120 MARKET, BY REGION, 2018–2021 (USD MILLION)
             TABLE 121 MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.2 ASIA OCEANIA
             11.2.1 EXISTING/UPCOMING RAPID TRANSIT PROJECTS IN ASIA OCEANIA
                        TABLE 122 MAJOR RAPID TRANSIT PROJECTS IN ASIA OCEANIA
             11.2.2 UPCOMING LIGHT RAIL PROJECTS IN ASIA OCEANIA
                        TABLE 123 PROPOSED LIGHT RAIL PROJECTS IN ASIA OCEANIA
             11.2.3 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN ASIA OCEANIA
                        TABLE 124 MAJOR LIGHT RAIL PROJECTS IN ASIA OCEANIA
                        FIGURE 52 ASIA OCEANIA: ROLLING STOCK MARKET SNAPSHOT
                        TABLE 125 ASIA OCEANIA MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 126 ASIA OCEANIA MARKET, BY COUNTRY, 2022–2027 (UNITS)
                        TABLE 127 ASIA OCEANIA MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                        TABLE 128 ASIA OCEANIA MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.2.4 CHINA
                        11.2.4.1 Increasing investments in railway infrastructure propelling demand for rolling stocks in China
                                      TABLE 129 LIST OF RAILWAY PROJECTS UNDER THE CHINA BELT AND ROAD PROJECTS
                                      TABLE 130 CHINA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 131 CHINA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 132 CHINA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 133 CHINA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.2.5 INDIA
                        11.2.5.1 Rapid electrification and increasing investment to develop a high-speed rail network will drive market
                                      TABLE 134 INDIA: LIST OF METRO PROJECTS WITH PLANNED EXPANSION
                                      TABLE 135 INDIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 136 INDIA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 137 INDIA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 138 INDIA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.2.6 JAPAN
                        11.2.6.1 Increasing investment for the purchase of rolling stock will propel the market
                                      TABLE 139 JAPAN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 140 JAPAN: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 141 JAPAN: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 142 JAPAN: MARKET, BY PRODUCT TYPE, 2022–2027(USD MILLION)
             11.2.7 SOUTH KOREA
                        11.2.7.1 New product developments coupled with government support fueling demand for rolling stocks
                                      TABLE 143 SOUTH KOREA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 144 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 145 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 146 SOUTH KOREA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.2.8 AUSTRALIA
             11.2.9 MALAYSIA
     11.3 EUROPE
             11.3.1 UPCOMING METRO/MONORAIL PROJECTS IN EUROPE
                        TABLE 147 MAJOR METRO/MONORAIL PROJECTS IN EUROPE
             11.3.2 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
                        TABLE 148 PROPOSED HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN EUROPE
             11.3.3 UPCOMING RAPID TRANSIT PROJECTS IN EUROPE
                        TABLE 149 MAJOR RAPID TRANSIT PROJECTS IN EUROPE
                        FIGURE 53 EUROPE: ROLLING STOCK MARKET SNAPSHOT
                        TABLE 150 EUROPE MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 151 EUROPE MARKET, BY COUNTRY, 2022–2027 (UNITS)
                        TABLE 152 EUROPE MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                        TABLE 153 EUROPE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.3.4 GERMANY
                        11.3.4.1 Significant investment in railway infrastructure and new product developments expected to drive the market in Germany
                                      TABLE 154 GERMANY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 155 GERMANY: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 156 GERMANY: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 157 GERMANY: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.3.5 FRANCE
                        11.3.5.1 Rising investment to upgrade rail infrastructure and R&D programs expected to drive the market for rolling stocks
                                      TABLE 158 FRANCE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 159 FRANCE: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 160 FRANCE: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 161 FRANCE: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.3.6 The UK
                        11.3.6.1 Rising government investment in rail infrastructure coupled with increasing replacement of old rolling stocks expected to drive market
                                      TABLE 162 UK: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 163 UK: MARKET, BY PRODUCT TYPE, 2022–2027(UNITS)
                                      TABLE 164 UK: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 165 UK: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.3.7 ITALY
                        11.3.7.1 Rising government investment expected to drive demand for rolling stocks in Italy
                                      TABLE 166 ITALY: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 167 ITALY: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 168 ITALY: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 169 ITALY: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.3.8 SPAIN
                        11.3.8.1 Presence of reputed rolling stock manufacturers coupled with the existence of the longest high-speed rail network will drive market
                                      TABLE 170 SPAIN: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 171 SPAIN: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 172 SPAIN: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 173 SPAIN: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.3.9 SWITZERLAND
             11.3.10 AUSTRIA
             11.3.11 SWEDEN
     11.4 NORTH AMERICA
             11.4.1 UPCOMING HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
                        TABLE 174 MAJOR HIGH-SPEED RAIL/BULLET TRAIN PROJECTS IN NORTH AMERICA
             11.4.2 UPCOMING RAPID TRANSIT PROJECTS IN NORTH AMERICA
                        TABLE 175 MAJOR RAPID TRANSIT PROJECTS IN NORTH AMERICA
                        FIGURE 54 NORTH AMERICA: ROLLING STOCK MARKET SNAPSHOT
                        TABLE 176 NORTH AMERICA MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 177 NORTH AMERICA MARKET, BY COUNTRY, 2022–2027 (UNITS)
                        TABLE 178 NORTH AMERICA MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                        TABLE 179 NORTH AMERICA MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.4.3 US
                        11.4.3.1 Shift to tier 4 emission standards coupled with demand for battery locomotive expected to drive market
                                      TABLE 180 US: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 181 US: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 182 US: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 183 US: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.4.4 MEXICO
                        11.4.4.1 Rising investments to increase the freight loading capacity of Mexico expected to drive demand for railway wagons
                                      TABLE 184 MEXICO: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 185 MEXICO: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 186 MEXICO: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 187 MEXICO: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.4.5 CANADA
                        11.4.5.1 Electro-diesel locomotives expected to witness high growth in Canada
                                      TABLE 188 CANADA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 189 CANADA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 190 CANADA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 191 CANADA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
     11.5 MIDDLE EAST & AFRICA (MEA)
             FIGURE 55 MIDDLE EAST & AFRICA: ROLLING STOCK MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)
             11.5.1 UPCOMING METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA
                        TABLE 192 PROPOSED METRO/MONORAIL PROJECTS IN MIDDLE EAST & AFRICA
             11.5.2 UPCOMING RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA
                        TABLE 193 PROPOSED RAPID TRANSIT PROJECTS IN MIDDLE EAST & AFRICA
                        TABLE 194 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 195 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2022–2027 (UNITS)
                        TABLE 196 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                        TABLE 197 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.5.3 SOUTH AFRICA
                        11.5.3.1 South African market for rolling stock expected to grow due to increased urbanization
                                      TABLE 198 SOUTH AFRICA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 199 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 200 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 201 SOUTH AFRICA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.5.4 UAE
                        11.5.4.1 Increase in tourism in UAE attracting more investment towards rapid transit projects and proliferating demand for rolling stock
                                      TABLE 202 UAE: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 203 UAE: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 204 UAE: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 205 UAE: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.5.5 EGYPT
                        11.5.5.1 Electric locomotive expected to account for largest market share in Egypt during the forecast period
                                      TABLE 206 EGYPT: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 207 EGYPT: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 208 EGYPT: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 209 EGYPT: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.5.6 IRAN
     11.6 REST OF THE WORLD (ROW)
             FIGURE 56 REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)
             11.6.1 UPCOMING METRO/MONORAIL PROJECTS IN THE REST OF THE WORLD
                        TABLE 210 MAJOR METRO/MONORAIL PROJECTS IN THE REST OF THE WORLD
                        TABLE 211 REST OF THE WORLD: ROLLING STOCK MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 212 REST OF THE WORLD: MARKET, BY COUNTRY, 2022–2027 (UNITS)
                        TABLE 213 REST OF THE WORLD: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                        TABLE 214 REST OF THE WORLD: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.6.2 BRAZIL
                        11.6.2.1 Rise in demand for electro-diesel locomotive will drive market during the forecast period
                                      TABLE 215 BRAZIL: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 216 BRAZIL: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 217 BRAZIL: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 218 BRAZIL: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.6.3 RUSSIA
                        11.6.3.1 Growth of freight transportation expected to proliferate the market of wagons in Russia
                                      TABLE 219 RUSSIA: ROLLING STOCK MARKET, BY PRODUCT TYPE, 2018–2021 (UNITS)
                                      TABLE 220 RUSSIA: MARKET, BY PRODUCT TYPE, 2022–2027 (UNITS)
                                      TABLE 221 RUSSIA: MARKET, BY PRODUCT TYPE, 2018–2021 (USD MILLION)
                                      TABLE 222 RUSSIA: MARKET, BY PRODUCT TYPE, 2022–2027 (USD MILLION)
             11.6.4 ARGENTINA

12 COMPETITIVE LANDSCAPE (Page No. - 236)
     12.1 OVERVIEW
             TABLE 223 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN THE ROLLING STOCK MARKET
     12.2 MARKET SHARE ANALYSIS
             TABLE 224 MARKET SHARE ANALYSIS, 2021
             FIGURE 57 MARKET SHARE ANALYSIS, 2021
     12.3 REVENUE ANALYSIS OF TOP PLAYERS
             FIGURE 58 TOP PUBLIC/LISTED PLAYERS IN THE MARKET DURING THE LAST THREE YEARS
     12.4 COMPETITIVE LEADERSHIP MAPPING FOR MARKET
             12.4.1 STARS
             12.4.2 PERVASIVE
             12.4.3 EMERGING LEADERS
             12.4.4 PARTICIPANT
                        FIGURE 59 ROLLING STOCK INDUSTRY: COMPANY EVALUATION MATRIX, 2021
     12.5 COMPANY EVALUATION QUADRANT
             TABLE 225 COMPANY REGION FOOTPRINT
             TABLE 226 COMPANY OFFERING TYPE FOOTPRINT (14 COMPANIES)
             TABLE 227 COMPANY OFFERING & GEOGRAPHIC FOOTPRINT
     12.6 SME EVALUATION QUADRANT
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
                        FIGURE 60 ROLLING STOCK MARKET: COMPANY EVALUATION MATRIX FOR SMES, 2021
     12.7 SME EVALUATION QUADRANT
             TABLE 228 SME REGION FOOTPRINT
             TABLE 229 SME OFFERING TYPE FOOTPRINT (17 COMPANIES)
             TABLE 230 SME OFFERING & GEOGRAPHIC FOOTPRINT
     12.8 COMPETITIVE SCENARIO AND TRENDS
             12.8.1 PRODUCT LAUNCHES
                        TABLE 231 MARKET: PRODUCT LAUNCHES, 2018–2021
             12.8.2 DEALS
                        TABLE 232 MARKET: DEALS, 2018–2021
             12.8.3 OTHERS
                        TABLE 233 ROLLING STOCK MARKET: OTHERS, 2018–2021
     12.9 WINNERS VS. TAIL-ENDERS
             TABLE 234 WINNERS VS. TAIL-ENDERS

13 COMPANY PROFILES (Page No. - 272)
     13.1 KEY PLAYERS
(Business Overview, Products, Recent Developments, MnM View)*
             13.1.1 CRRC CORPORATION LIMITED
                        TABLE 235 CRRC CORPORATION LIMITED: BUSINESS OVERVIEW
                        FIGURE 61 CRRC CORPORATION LIMITED: COMPANY SNAPSHOT
                        TABLE 236 CRRC CORPORATION LIMITED: PRODUCTS OFFERED
                        TABLE 237 CRRC CORPORATION LIMITED: NEW PRODUCT DEVELOPMENTS
                        TABLE 238 CRRC CORPORATION LIMITED: DEALS
             13.1.2 ALSTOM SA
                        TABLE 239 ALSTOM SA: BUSINESS OVERVIEW
                        FIGURE 62 ALSTOM SA: COMPANY SNAPSHOT
                        TABLE 240 ALSTOM SA: PRODUCTS OFFERED
                        TABLE 241 ALSTOM SA: NEW PRODUCT DEVELOPMENTS
                        TABLE 242 ALSTOM SA: DEALS
                        TABLE 243 ALSTOM SA: OTHERS
             13.1.3 SIEMENS AG
                        TABLE 244 SIEMENS AG: BUSINESS OVERVIEW
                        FIGURE 63 SIEMENS AG: COMPANY SNAPSHOT
                        TABLE 245 SIEMENS AG: PRODUCTS OFFERED
                        TABLE 246 SIEMENS AG: NEW PRODUCT DEVELOPMENTS
                        TABLE 247 SIEMENS AG: DEALS
             13.1.4 KAWASAKI HEAVY INDUSTRIES, LTD.
                        TABLE 248 KAWASAKI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
                        FIGURE 64 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 249 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
                        TABLE 250 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
             13.1.5 WABTEC CORPORATION
                        TABLE 251 WABTEC CORPORATION: BUSINESS OVERVIEW
                        FIGURE 65 WABTEC CORPORATION: COMPANY SNAPSHOT
                        TABLE 252 WABTEC CORPORATION: PRODUCTS OFFERED
                        TABLE 253 WABTEC CORPORATION: NEW PRODUCT DEVELOPMENTS
                        TABLE 254 WABTEC CORPORATION: DEALS
                        TABLE 255 WABTEC CORPORATION: OTHERS
             13.1.6 STADLER RAIL AG
                        TABLE 256 STADLER RAIL AG: BUSINESS OVERVIEW
                        FIGURE 66 STADLER RAIL: COMPANY SNAPSHOT
                        TABLE 257 STADLER RAIL AG: PRODUCTS OFFERED
                        TABLE 258 STADLER RAIL AG: DEALS
                        TABLE 259 STADLER RAIL AG: OTHERS
             13.1.7 CAF GROUP
                        TABLE 260 CAF GROUP: BUSINESS OVERVIEW
                        FIGURE 67 CAF GROUP: COMPANY SNAPSHOT
                        TABLE 261 CAF GROUP: PRODUCTS OFFERED
                        TABLE 262 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES: DEALS
             13.1.8 HYUNDAI ROTEM COMPANY
                        TABLE 263 HYUNDAI ROTEM COMPANY: BUSINESS OVERVIEW
                        FIGURE 68 HYUNDAI ROTEM COMPANY: COMPANY SNAPSHOT
                        TABLE 264 HYUNDAI ROTEM COMPANY: PRODUCTS OFFERED
                        TABLE 265 HYUNDAI ROTEM COMPANY: DEALS
             13.1.9 MITSUBISHI HEAVY INDUSTRIES, LTD.
                        TABLE 266 MITSUBISHI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
                        FIGURE 69 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 267 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
                        TABLE 268 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS
                        TABLE 269 MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS
             13.1.10 TALGO
                        TABLE 270 TALGO: BUSINESS OVERVIEW
                        FIGURE 70 TALGO: COMPANY SNAPSHOT
                        TABLE 271 TALGO: PRODUCTS OFFERED
                        TABLE 272 TALGO: DEALS
             13.1.11 TRANSMASHHOLDING
                        TABLE 273 TRANSMASHHOLDING: BUSINESS OVERVIEW
                        TABLE 274 TRANSMASHHOLDING: PRODUCTS OFFERED
                        TABLE 275 TRANSMASHHOLDING: NEW PRODUCT DEVELOPMENTS
                        TABLE 276 TRANSMASHHOLDING: DEALS
                        TABLE 277 TRANSMASHHOLDING: OTHERS
     13.2 OTHER KEY PLAYERS
             13.2.1 TOSHIBA
                        TABLE 278 TOSHIBA: BUSINESS OVERVIEW
             13.2.2 HITACHI
                        TABLE 279 HITACHI: BUSINESS OVERVIEW
             13.2.3 CHITTARANJAN LOCOMOTIVE WORKS (CLW)
                        TABLE 280 CHITTARANJAN LOCOMOTIVE WORKS (CLW): BUSINESS OVERVIEW
             13.2.4 TECH MAHINDRA
                        TABLE 281 TECH MAHINDRA: BUSINESS OVERVIEW
             13.2.5 NIIGATA ENGINEERING CO., LTD
                        TABLE 282 NIIGATA ENGINEERING CO., LTD: BUSINESS OVERVIEW
             13.2.6 SCOMI GROUP BHD
                        TABLE 283 SCOMI GROUP BHD: BUSINESS OVERVIEW
             13.2.7 WOOJIN INDUSTRIAL SYSTEMS
                        TABLE 284 WOOJIN INDUSTRIAL SYSTEMS: BUSINESS OVERVIEW
             13.2.8 ABB
                        TABLE 285 ABB: BUSINESS OVERVIEW
             13.2.9 STRUKTON
                        TABLE 286 STRUKTON: BUSINESS OVERVIEW
             13.2.10 LEGIOS
                        TABLE 287 LEGIOS: BUSINESS OVERVIEW
             13.2.11 DEUTA-WERKE GMBH
                        TABLE 288 DEUTA-WERKE GMBH: BUSINESS OVERVIEW
             13.2.12 THALES GROUP
                        TABLE 289 THALES GROUP: BUSINESS OVERVIEW
             13.2.13 DEUTSCHE BAHN AG
                        TABLE 290 DEUTSCHE BAHN AG: BUSINESS OVERVIEW
             13.2.14 LAMIFIL
                        TABLE 291 LAMIFIL: BUSINESS OVERVIEW
             13.2.15 RHOMBERG SERSA RAIL HOLDING GMBH
                        TABLE 292 RHOMBERG SERSA RAIL HOLDING GMBH: BUSINESS OVERVIEW
             13.2.16 BALFOUR BEATTY
                        TABLE 293 BALFOUR BEATTY: BUSINESS OVERVIEW
             13.2.17 INTAMIN BAHNTECHNIK UND BETRIEBS-MBH & CO KG
                        TABLE 294 INTAMIN BAHNTECHNIK UND BETRIEBS-MBH & CO KG: BUSINESS OVERVIEW
             13.2.18 AMERICAN EQUIPMENT COMPANY
                        TABLE 295 AMERICAN EQUIPMENT COMPANY: BUSINESS OVERVIEW
             13.2.19 INGETEAM CORPORACIΣN, S.A.
                        TABLE 296 INGETEAM CORPORACIΣN, S.A.: BUSINESS OVERVIEW
             13.2.20 CALAMP
                        TABLE 297 CALAMP: BUSINESS OVERVIEW
             13.2.21 URBANAUT MONORAIL TECHNOLOGY
                        TABLE 298 URBANAUT MONORAIL TECHNOLOGY: BUSINESS OVERVIEW
             13.2.22 UGL
                        TABLE 299 UGL: BUSINESS OVERVIEW
             13.2.23 RANDON
                        TABLE 300 RANDON: BUSINESS OVERVIEW
             13.2.24 SINARA TRANSPORT MACHINES
                        TABLE 301 SINARA TRANSPORT MACHINES: BUSINESS OVERVIEW
             13.2.25 ALUCAST IRAN
                        TABLE 302 ALUCAST IRAN: BUSINESS OVERVIEW
             13.2.26 TRINITY INDUSTRIES, INC.
                        TABLE 303 TRINITY INDUSTRIES, INC.: BUSINESS OVERVIEW
             13.2.27 THE GREENBRIER COMPANIES
                        TABLE 304 THE GREENBRIER COMPANIES: BUSINESS OVERVIEW

*Details on Business Overview, Products Recent Developments, and MnM View might not be captured in the case of unlisted companies.

14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 346)
     14.1 ASIA OCEANIA WILL BE A MAJOR MARKET FOR ROLLING STOCKS GLOBALLY
     14.2 SURGING DEMAND FOR FREIGHT TRANSPORTATION HAS DRIVEN DEMAND FOR WAGONS
     14.3 INCREASED DEMAND FOR FAST AND EFFICIENT URBAN TRANSPORTATION HAS FUELED DEMAND FOR SUBWAYS/METROS
     14.4 CONCLUSIONS

15 APPENDIX (Page No. - 348)
     15.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     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 bottom-up and top-down approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were used for determining the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study included rolling stock industry organizations, corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, whitepapers, certified publications, articles from recognized authors, directories, 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. 40% and 60% of primary interviews were conducted from the supply side & industry associations and dealers/distributors, 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.

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 size of the rolling stock market and various other dependent submarkets. The research methodology used to estimate the market size included the following details.

The new sales figure for diesel locomotives, electric locomotives, electro-diesel locomotives, DMUs, and EMUs are collected for each country through various country-level associations and data published by the International Union of Railways (UIC). The sales figure for each key player is identified by analyzing their annual reports, investor presentations, articles, journals, and industry white papers. The key players in this market were identified through secondary research, and their market shares in respective regions were determined through primary and secondary research. The procedure included the study of the annual and financial reports of the top market players and extensive interviews with industry leaders such as Chief Executive Officers (CEOs), vice presidents, directors, and marketing executives of the leading companies. 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.

The top-down methodology was followed to estimate the size of the rolling stock market by application. The segmental split of the application segment was derived by identifying the break-up of passenger transportation and freight transportation for locomotives in different regions. This gives the regional market size, by application, in terms of volume and value. Extensive secondary and primary research has been carried out to understand the global market for the applications of rolling stock. Several primary interviews were conducted with key opinion leaders involved in the development of the market, including Original Equipment Manufacturers (OEMs) and tier 1 companies. Various qualitative aspects such as drivers, restraints, opportunities, and challenges influencing the growth of the market were taken into consideration while calculating and forecasting the size of the market.

Data Triangulation

After arriving at the overall market size of the global market through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedure 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.

Report Objectives

  • To define, describe, and forecast the size of the rolling stock 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 global 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, the Middle East & Africa (MEA), and the Rest of the World (RoW)
  • To segment and forecast the market size, by volume and value, based on product type (locomotives, rapid transit, wagons, coaches, and others)
  • To segment and forecast the market size, by volume and value, based on locomotive technology (conventional locomotives, turbocharged locomotives), and qualitative insights on Maglev)
  • To segment and forecast the market size, by volume and value, based on application (passenger transportation and freight transportation)
  • To provide qualitative insights on the market based on components (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 the rolling stock market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze opportunities for stakeholders and the competitive landscape for global market leaders
  • To strategically profile key players and comprehensively analyze their respective market share and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & 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 accordance with the company’s specific needs.

  • Rolling Stock Market, by technology, at the country level
  • Rolling Stock Market, by product type, at the country level
  • Profiling of additional market players (Up to 5)
Rolling Stock Market Size,  Share & Growth Report
Report Code
AT 3235
Published ON
Mar, 2022
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