The global rolling stock market is expected to witness substantial growth over the forecast period. The growth may be attributed to increasing urbanization along with the need to minimize road congestion, especially in the developing economies. In addition, rapid infrastructure development coupled with poor existing network in this region is also expected to drive the rolling stock market growth. Surging demand for wagons, locomotive, and rapid transit vehicle is expected to fuel market growth. The market is poised for growth owing to stringent fuel-economy regulations, which is further expected to promote researchers to develop considerably cleaner energy use through new propulsion and fuel systems. In addition, rising consumer preferences for safety and comfort, while travelling are also expected to favorably impact market growth.
Rolling stocks refer to vehicles that move on a railway. They are basically wheeled vehicles used by businesses on roadways. They include both unpowered and powered vehicles that include railroad cars, locomotives, coaches, and wagons. Population growth, especially in the developing countries, is also expected to drive the global rolling stock industry growth over the next few years. Favorable government initiatives to improve infrastructure in order to encourage people to opt for public transit over personal transportation are further expected to fuel rolling stock market demand over the coming years. Furthermore, government interests and investments to decongest vehicular traffic and reduce commute time are also expected to drive the rolling stock industry growth.
Reliance on government projects paired with insufficient infrastructure is expected to hinder market growth over the forecast period. Additionally, competition of faster modes of travel such as airways is also expected to pose challenges to market growth. However, increasing freight transportation primarily in developed regions such as North America is projected to propel market growth over the next few years. Surging demand for intra-city mobility solutions such as metro and Light Rail Vehicles (LRV) is further expected to drive the global rolling stock market growth. Development of suburban networks and smart cities has led to an increase in demand for transit networks in an intercity as well as intra-city level, which is also expected to drive market growth. Demand for cleaner, convenient, and safer modes of transportation is also expected to fuel market growth.
Rolling stock manufacturers are expected to offer cost advantages, customized solutions, safety, and related services such as maintenance and signaling to the transit authorities through their product offerings. Suppliers emphasize on globalization and developing products to integrate existing transport infrastructure and reduce commute time. Suppliers are expected to closely work with local partners or establish manufacturing facilities in high-growth regions in order to overcome the aforementioned issues. The key market participants include CNR Corporation, CSR Corporation, GE Transportation, Bombardier Inc., Alstom SA, Bombardier Transportation, and Siemens AG.
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