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The global rolling stock market is estimated to be USD 53.8 billion in 2022 and is projected to reach USD 64.8 billion by 2027, growing at a CAGR of 3.8% from 2022 to 2027. Asia Oceania is estimated to lead the market in 2022; China, Japan, and India are the key contributors to the rolling stock market in the region. Increasing preference towards railway-based public transport as a means of reducing traffic congestion, rising demand for energy-efficient transport, increasing demand for comfort and safety. Increasing electrification of railway networks and growth in rail freight transport are major drivers of the rolling stock market.

The recent developments in the rolling stock market have introduced various new products such as, hydrogen fuel cell locomotive, battery-powered locomotive, autonomous train, solar-powered trains. The new technological advancements are likely to open new opportunities for the rolling stock manufacturers globally in the coming years. Apart from this, high gasoline prices, inadequate infrastructure, traffic congestion, and greenhouse gas emissions are the factors catalyzed the demand for expansion of railway networks all over the world. Thereby, the demand for new rolling stocks are expected to grow at steady rate in the coming years globally.

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The rolling stock market is dominated by global players such as CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), Wabtec Corporation (US), Stadler Rail AG (Switzerland), and CAF Group (Spain). The other major players in the rolling stock market includes Hyundai Rotem Company (South Korea), Mitsubishi heavy Industries, Ltd. (Japan), Talgo (Spain), Transmashholding (Russia). SMEs like Niigata Engineering Co., Ltd, Scomi Group BHD, Balfour Beatty, and Ingeteam Corporación, S.A. and Rhomberg Sersa Rail Holding GmbH etc., also came up with new products as well as adopted various inorganic growth strategies like acquisition, collaborations and partnerships with other SMEs and key players. The companies operating in the rolling stock market adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions as well as bagged more number of supply contracts in various countries to gain traction in the market. Supply contracts was the most adopted strategy by the key players in the rolling stock market. New product development was the second most adopted strategy by top players in the rolling stock market.

CRRC Corporation Limited is a key player in the rolling stock market. It specializes in the R&D, design, manufacture, sale, refurbishment, and lease of transportation vehicles. This is expected to play a crucial role in reshaping the global railway transportation system or mainly in China during the forecast period. As of December 2020, the company had the capacity to produce 547 new MUs, 1,530 new locomotives, 2,300 new passenger carriages, 51,500 new freight wagons, and 11,840 urban rail transit vehicles (including subway vehicles, tramcars, monorail vehicles, and medium and low-speed maglev trains) of the general assembly on an annual basis. This helps the company to offer a wide range of products and solutions for the railway industry. The company’s product portfolio for the rail industry includes high-speed Multiple Units (MUs), high-powered electric locomotives, transit vehicles, heavy haul freight trains, and passenger carriages. Being one of the leading rolling stock manufacturers from China, the company also competes with various established players in the high-speed train segment of the rolling stock market, such as Alstom SA (France), Siemens AG (Germany), and others.

Alstom SA has the potential to become a leader in the rolling stock market. In the recent past, the company developed various new products and solutions for the railway industry. These new product developments include the development and trial of battery-operated trains in Germany, a cybersecurity solution, and a new trainset. The company manufactures rail transport equipment, systems, services, and signaling for urban, suburban, regional, and mainline passenger transportation, as well as freight transportation, through its transport business segment. Moreover, in 2021, the company acquired Bombardier Transportation which further enhanced its capabilities and offerings in the rolling stock market.

Siemens AG is a specialist in the development and supply of trains, infrastructure, automation and electrification solutions, turnkey systems as well as related services for passenger and freight transportation globally. The company offers high-speed trains, commuter trains, passenger coaches, metros, people movers, LRVs, locomotives, bogies, traction systems, and rail-related services. To cater to various needs of the global railway industry, the company launched new products and solutions in the recent past that includes a digital train control system, automatic train, auxiliary converters, Piccadilly line trains, and Nightjet trains. Apart from this, the company launched a new brand in 2021, Yunex Traffic solely for their intelligent traffic system segment, which is now operating as a separate business entity.

Kawasaki Heavy Industries, Ltd. specializes in the manufacturing of transportation equipment and industrial goods. The company offers a wide range of rolling stock, including Shinkansen, electric cars, passenger coaches, freight cars, locomotives, diesel locomotives, and new transit systems. Moreover, the company is globally known for its high-speed “Shinkansen” train. Over the period, the company has developed a comprehensive portfolio in the high-speed trains segment. Having a strong foothold in the Asia Pacific region, the company is also growing at a rapid pace in the North American region. The company is presently working on IoT/AI for remote monitoring and malfunction diagnosis for lowering maintenance costs and status diagnosis for expanded maintenance operations of rolling stock.

Wabtec Corporation is a key player in the global rolling stock market. The company has a strong foothold in the North American market and is a leading manufacturer and provider of technology-based products and services for freight rails, passenger transits, and select industrial markets worldwide. The company is known for supplying locomotives with advanced safety features, high productivity, and less maintenance cost. The company is currently working on technologies like Driver Assist, Smart Cruise Control with PTC, supervised ATO/Single person, and autonomous operations. Moreover, to provide a better and hygienic railway journey to their passengers, the company launched a new product, i.e., “Blue Filter” which is an air-filtration unit that provides clean and healthy air. The company also acquired a leading rolling stock manufacturer GE Transportation in 2019 to strengthen its footprints in the global market.

Some other major companies operating in the rolling stock market includes DEUTA-WERKE GmbH, Scomi Group BHD, Niigata Engineering Co., Ltd, The Greenbrier Companies etc. However, these companies are relatively smaller in terms of the types of products offered and currently operating at the country level and in a smaller order volume. The Greenbrier Companies collaborated with the US Steel and Norfolk Southern for the development of more sustainable steel gondola railcar, in December 2021. Similarly in 2020, FF Koralm (joint venture of Rhomberg Bahntechnik GmbH and PORR Bau GmbH ) entered into a contract to develop infrastructure for high-speed line in Koralm Tunnel (Austria). Moreover, in November 2021, Rhomberg Sersa Rail Group (RSRG) acquired the  US track solutions operations business of Balfour Beatty, i.e., “Balfour Beatty Track Solutions division,” for a total of USD 7.25 Million. The new company, i.e., Rhomberg Sersa North America (RSNA), is expected to expand RSRG’s geographic presence and make it the largest owner-operator of ballast cleaning services in the North America region. On the other hand, in 2022 Alstom SA developed a battery train and started trial of passenger operation in Germany in collaboration with Deutsche Bahn. Therefore by analyzing the above developments carried out by the key players and other SMEs it is expected that the demand for rolling stocks are likely to grow at a steady rate in the coming years globally.

Related Reports:

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

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