Rolling Stock Market

Market Leaders - Rolling Stock Market

The global rolling stock market is estimated to be USD 51.6 billion in 2020 and is projected to reach USD 64.3 billion by 2025, growing at a CAGR of 4.5% from 2020 to 2025. Asia Oceania is estimated to lead the market in 2020; China, Japan, and India are the key contributors to the rolling stock market in the region. Increasing urbanization, adoption of public transport as a means of reducing traffic congestion, growing demand for energy-efficient transport and increasing adoption of rolling stocks for freight transportation are major drivers of the rolling stock market. Along with this, the leading rail infrastructure developers are also adopting collaboration strategies with local rail authorities to develop rail infrastructure.

The recent developments in the rolling stock market have introduced electrification of electrified rail route. These advancements in expansion of projects and increase in rail route would likely to drive rolling stock market. Government bodies to invest in rail infrastructure and increase in budget to increase freight transportation are driving factors for rolling stock market to grow in near future.

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The rolling stock market is dominated by global players such as CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), Kawasaki Heavy Industries (Japan), Hyundai Rotem (South Korea), and General Electric Company (US). The other major players in the rolling stock market are focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from the several collaborations, supply contracts and joint venture projects undertaken by these companies in recent years.

CRRC was listed on the Shanghai Stock Exchange and Hong Kong Stock Exchange in June 2015. As of March 2020, the company had 165,715 employees and invested USD 1.7 billion in R&D activities to develop innovative products for the global rail industry. It specializes in the R&D, design, manufacture, sale, refurbishment, and lease of transportation vehicles. 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. Since the COVID-19 pandemic, Chinese companies were affected the highest during the first quarter of 2020. CRRC reported a reduction of 15.81%            in revenue during the first quarter of 2020. Amid the pandemic, CRRC resumed production in February 2020 and ensured the provision of necessary support to various countries CRRC competes with various established players in the high-speed train market such as Alstom (France), Bombardier (Canada), Siemens (Germany), and other domestic players. The Chinese Railway Corporation is one of CRRC’s major customers.

Alstom operates in the power generation, power transmission, and rail infrastructure markets through four business units, namely, rolling stock, systems, services, and signaling. The company manufactures rail transport equipment, systems, services, and signaling for urban, suburban, regional, and main line passenger transportation, as well as freight transportation, through its transport business segment. As of 31st March 2020, the company had 38,879 employees. Its major customers include the Swiss Federal Railway, Transport of Mexico, Delhi Metro, Chennai Metro, and Mumbai Metro (in India). In September 2020, Alstom entered into an agreement for the acquisition of Bombardier Transportation with Bombardier Inc and Caisse de depot et placement du Québec (CDPQ). This acquisition is worth between USD 6.7 billion to USD 7.2 billion and is expected to take place on 29th Jan 2021. It is expected to strengthen Alstom’s strategic leadership and further accelerate its roadmap in a dynamic market. Alstom had to slow down its operations in some of its production units and suppliers had to restrict some operations due to COVID-19. Alstom booked orders were USD 2.07 billion from April 2020 to June 2020 compared to USD 1.95 billion over same period last year.

Siemens operates through eight business segments, namely, Healthineers, portfolio companies, digital industries, mobility, Siemens Gamesa Renewable Energy, smart infrastructure, gas and power and financial services. The company invested USD 6.3 billion in R&D in 2019.Company products include high-speed trains, commuter trains, passenger coaches, metros, people movers, LRVs, locomotives, bogies, traction systems, and rail-related services. Siemens and its subsidiaries employ approximately 2,93,000 people across nearly 200 countries. In 2019, the company won supply contracts from the Turkish State Railway, Israel Railway, and the UK. Since the COVID-19 outbreak, Siemens has been continuously implementing timely measures to protect its employees and partners. The company faced major losses in Q2 2020, wherein its revenue fell by 59.5% in India and was severely affected around the world due to the slowdown of its operations and various projects.

Related Reports:

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

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