Market Summary
Research Methodology on Rolling Stock Market
1. Introduction
This research report is aimed at exploring the trends influencing the rolling stock market, which is a subset of the much broader transportation equipment industry. To carry out the research, Market Research Future (MRFR) employed a multifaceted approach to understanding the trends defining the rolling stock market over the review period 2023-2030. The primary objective of the research is to provide an industry-level assessment of the rolling stock market and expand the understanding of the sector to participants within the industry, existing and potential investors, and regulatory bodies.
To achieve the objectives of the research report, MRFR employed a two-phased approach to carry out the market assessment: comprehensive secondary research and primary research. The first phase incorporated data points collected from industry sources such as databases, surveys and published industry reports. Since there are limited publicly available data points within the rolling stock market segment, the primary research phase was particularly important in order to fill the data gap and provide accurate information about the various segments of the rolling stock market. Data collated from secondary sources were triangulated with feedback from industry participants. The approach involves semi-structured interviews with C-level participants from stakeholder organisations within the rolling stock industry.
2. Research Approach
The MRFR research approach involves:
2.1 Secondary Research
Visible sources of information such as reports, journals, and other resources were used to provide accurate and detailed market assessments. Information gathered from other publicly available sources was explicitly analyzed and verified as and where necessary. Sources used during the secondary research phase included, but were not limited to:
-Industry white papers
-Government documents or websites
-Market reports by respected paid consulting firms
-IEEE Journals, particularly related to transportation equipment development
-Reports on railway transportation
-Society of Automotive Engineers
-Associations related to railways
2.2 Primary Research
Semi-structured interviews with C-level participants from stakeholder organisations within the rolling stock sector provided insights into current trends and market developments. Two rounds of semi-structured interviews were conducted in sequence to ensure qualitative market assessments. The first round of interviews was aimed at collecting data for scoping the primary market; whilst the second round of interviews provided supplemental data for triangulating information gathered from other sources.
3. Market Segmentation and Scope
The rolling stock market is segmented according to type, end-user and geography.
3.1 By Type
The rolling stock sector is segmented by type into trains, trams, and others.
3.2 By End-User
The end-users covered in this report are mass transit and freight
3.3 By Geography
The market is analysed across North America, Europe, Asia-Pacific, and the rest of the world (RoW)
4. Assumptions
The rolling stock market assessment was based on the assumption that the sector will continue to experience steady growth and technological advances. Moreover, it is assumed that governments around the globe will continue to invest in strengthening the railway infrastructure, which will in turn lead to significant investments in rolling stock.
5. Research Process
MRFR's research process involves actively engaging industry participants to ensure the accuracy of information. A 3-step approach was followed to understand the trends and challenges within the rolling stock market:
5.1 Identification of Parameters Influencing the Market
To examine the trends influencing the rolling stock market, information points on the current and potential challenges within the sector were collected. The data points were identified based on the objectives of the research and were specific to different regions.
5.2 Synthesis of Secondary Sources
The secondary research phase involved the extensive use of libraries, archives and databases to collate information useful for the research. The data collected from secondary sources were used to understand the trends and challenges within the rolling stock market and the current and potential investment areas within the sector.
5.3 Primary Market Data Analysis
The primary research phase includes semi-structured interviews with C-level participants from stakeholder organisations within the rolling stock industry. The semi-structured interviews were conducted over a period of time to collect meaningful and accurate data about the rolling stock market. The primary research phase was significant in understanding the current and potential challenges within the sector, as it provides unfiltered opinions from industry participants.
6. Conclusion
This research report aims at understanding the trends influencing the rolling stock market. To achieve this objective, MRFR used a research approach involving comprehensive secondary research and primary research. Secondary research entailed the use of databases, reports and other publicly available data sources. Whilst the primary research phase involved engaging with industry participants through semi-structured interviews. Both research phases were used to collate data for understanding the various aspects of the rolling stock market. It is hoped that this report would be of value to players within the sector, existing and potential investors, and regulatory bodies.
Market Size & Forecast
Report Attribute/Metric | Details |
Market Size 2023 | USD 44.2 billion |
Market Size 2024 | USD 46.36 billion |
Market Size 2032 | USD 64.9 billion |
Compound Annual Growth Rate (CAGR) | 4.29% (2024-2032) |
Base Year | 2023 |
Market Forecast Period | 2024-2032 |
Historical Data | 2019- 2021 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Component, Application, Locomotive Technology, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | ABB (Sweden), Alstom (France), American Industrial Transport, Inc. (US), Bombardier (Canada), CAF (UK), Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain), Caterpillar (US), CRRC Corporation Limited (China), Hitachi, Ltd. (Japan), Hyundai Rotem Company (South Korea), Japan Transport Engineering Company (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), National Steel Car Limited (Canada). |
Key Market Opportunities | Development in mining sector |
Key Market Dynamics | The demand for an energy-efficient transport system. |
Major Players
Rolling Stock Market Segmentation
Rolling Stock Market by Product Outlook (USD Billion, 2019-2032)
Locomotive
Rapid Transit
Wagon
Rolling Stock Market by Component Outlook (USD Billion, 2019-2032)
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
Rolling Stock Market by Application Outlook (USD Billion, 2019-2032)
Freight Application
Passenger Application
Rolling Stock Market by Locomotive Technology Outlook (USD Billion, 2019-2032)
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Rolling Stock Market by Product (USD Billion, 2019-2032)
North America Outlook (USD Billion, 2019-2032)
North America Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
North America Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
North America Rolling Stock Market By Application
Freight Application
Passenger Application
North America Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
US Outlook (USD Billion, 2019-2032)
US Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
US Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
US Rolling Stock Market By Application
Freight Application
Passenger Application
US Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
CANADA Outlook (USD Billion, 2019-2032)
CANADA Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
CANADA Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
CANADA Rolling Stock Market By Application
Freight Application
Passenger Application
CANADA Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Europe Outlook (USD Billion, 2019-2032)
Europe Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Europe Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
Europe Rolling Stock Market By Application
Freight Application
Passenger Application
Europe Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Germany Outlook (USD Billion, 2019-2032)
Germany Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Germany Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
Germany Rolling Stock Market By Application
Freight Application
Passenger Application
Germany Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
France Outlook (USD Billion, 2019-2032)
France Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
France Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
France Rolling Stock Market By Application
Freight Application
Passenger Application
France Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
UK Outlook (USD Billion, 2019-2032)
UK Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
UK Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
UK Rolling Stock Market By Application
Freight Application
Passenger Application
UK Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
ITALY Outlook (USD Billion, 2019-2032)
ITALY Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
ITALY Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
ITALY Rolling Stock Market By Application
Freight Application
Passenger Application
ITALY Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
SPAIN Outlook (USD Billion, 2019-2032)
Spain Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Spain Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
Spain Rolling Stock Market By Application
Freight Application
Passenger Application
Spain Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Rest Of Europe Outlook (USD Billion, 2019-2032)
Rest Of Europe Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
REST OF EUROPE Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
REST OF EUROPE Rolling Stock Market By Application
Freight Application
Passenger Application
REST OF EUROPE Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Asia-Pacific Outlook (USD Billion, 2019-2032)
Asia-Pacific Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Asia-Pacific Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Asia-Pacific Rolling Stock Market By Application
Freight Application
Passenger Application
Asia-Pacific Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
China Outlook (USD Billion, 2019-2032)
China Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
China Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
China Rolling Stock Market By Application
Freight Application
Passenger Application
China Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Japan Outlook (USD Billion, 2019-2032)
Japan Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Japan Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Japan Rolling Stock Market By Application
Freight Application
Passenger Application
Japan Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
India Outlook (USD Billion, 2019-2032)
India Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
India Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control
Brakes
Gearboxes
Train Control Systems
India Rolling Stock Market By Application
Freight Application
Passenger Application
India Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Australia Outlook (USD Billion, 2019-2032)
Australia Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Australia Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Australia Rolling Stock Market By Application
Freight Application
Passenger Application
Australia Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Rest of Asia-Pacific Outlook (USD Billion, 2019-2032)
Rest of Asia-Pacific Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Rest of Asia-Pacific Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Rest of Asia-Pacific Rolling Stock Market By Application
Freight Application
Passenger Application
Rest of Asia-Pacific Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Rest of the World Outlook (USD Billion, 2019-2032)
Rest of the World Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Rest of the World Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Rest of the World Rolling Stock Market By Application
Freight Application
Passenger Application
Rest of the World Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Middle East Outlook (USD Billion, 2019-2032)
Middle East Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Middle East Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Middle East Rolling Stock Market By Application
Freight Application
Passenger Application
Middle East Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Africa Outlook (USD Billion, 2019-2032)
Africa Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Africa Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Africa Rolling Stock Market By Application
Freight Application
Passenger Application
Africa Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
Latin America Outlook (USD Billion, 2019-2032)
Latin America Rolling Stock Market By Product
Locomotive
Rapid Transit
Wagon
Latin America Rolling Stock Market By Component
Pantograph
Axle
Wheelset
Traction Motor
Auxiliary Power System
Air Conditioning System
Passenger Information System
Position Train Control,
Brakes
Gearboxes,
Train Control Systems
Latin America Rolling Stock Market By Application
Freight Application
Passenger Application
Latin America Rolling Stock Market By Locomotive Technology
Conventional Locomotive
Turbocharge Locomotive
Maglev
Diesel Locomotive
Electric Locomotive
Electro-diesel Locomotive
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