Rolling stocks is generally referred as any wheeled vehicles running on a railway tracks, which includes locomotives, passenger coaches and fright wagons among others. Railway transport is an indispensable part of transport system and plays crucial role in the development of a nation, because the development of trade, commerce and industries is highly dependable on the transport system. It drives the growth of industrialization of a nation through transporting variety of goods such as raw materials, basic commodities, vegetables, and utilities goods among others, with speed and certainty.
Rolling stocks are highly customized and can be easily tailored as per customer’s requirement. It is available in variety of types such as diesel locomotives, electric locomotives, freight carriers and rapid transit vehicles among others. Diesel locomotives are featured with low axel load and used for passenger and freight traffic. It especially designed for narrow gauged or broad gauged railway. It has high demand from developing countries such as Argentina, India, China, Iraq, Malaysia, Pakistan, and Brazil among others.
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Rolling Stocks Market: Market Dynamics
Rolling stocks are reliable and safest mode of transport for goods compared against other mode of transports such as automotive, ships, and airplane. It additionally offers flexible and largest carrying capacity and if required its capacity can be easily increased by further addition of stocks. Growing population, industrialization and government initiatives to provide faster, cleaner and safest transport system are key drivers to promote growth of the global rolling stock market. However huge capital investment and high dependency on government’s policies is expected to retrain the entry of new market players in the established rolling stocks market. Additionally highly competitive environment created by other modes of transport such as road and air transportation is expected to hinder the growth of market. The sustainability of global rolling stocks market is dependent on innovation with respect to offer low weight, high speed, and low maintenance products.
Rolling Stocks Market: Market Segmentation
Based on vehicles, the global rolling stocks market can be segmented as follow as;
- Passengers Carrier
- Freight Carriers
- Rapid Transit Vehicles
Based on technology, the global rolling stocks market can be segmented as follow as;
Based on geographies, the global rolling stocks market can be segmented as follow as;
- North America
- Latin America
- Asia Pacific Excluding Japan (APEJ)
- Western Europe
- Eastern Europe
- Middle East and Africa (MEA)
Rolling Stocks Market: Regional Outlook
Rolling stocks market is highly dependable on the government policies of nation and increasing population and industrialization has forced governments to provide sustainable transport system. Global rolling stocks market is expected to grow steadily owing to increasing global demand for well structure transport infrastructure. Rolling stocks market is well established in North America and Western Europe countries, and it is expected to grow linearly over the forecast period. Growing economies such as China, India and Brazil are expected to emerge as most attractive geographical segment in global rolling stocks market. This is primarily because of rapidly expanding industries and governments initiatives to build advanced railway transport system. According to the report published by Ministry of Railway of India, Indian government has plan to invest around US$ 120 billion to expand and electrify its railway network, over next five years. Similarly, Latin America and Middle East & Africa are expected to create opportunities for the rolling stocks manufacturer, as regional governments has already launched several program to expand and improve railway network within these geographies.
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Rolling Stocks Market: Key Players
Some of the key players in global rolling stocks market are as follow as;
- Alstom SA
- Bombardier Transportation
- CSR Corporation Limited
- CJSC Transmashholding
- Gene al Electrical Company
- Hitachi, Ltd.
- Japan Transport Engineering Company
- Kawasaki Heavy Industries Rolling Stock Company
- Mitsubishi Heavy Industries
- Siemens AG