Increasing Investment in Rail Infrastructure Projects to Drive the Global Rolling Stock Market Through 2020, Says Technavio
By Business Wire News
By Business Wire News
This research report titled ‘Global Rolling Stock Market 2015-2019’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
Request sample report: http://goo.gl/O0jKeB
The report categorizes the global rolling stock market into three major segments based on type of rolling stock. They are:
- Rapid transit vehicles
- Railroad cars
Global rolling stock market by rapid transit vehicles
The global rolling stock market by rapid transit vehicles was valued at over USD 19 billion by 2020, growing at a CAGR of close to 5%. The rapid transit vehicles include high-speed trains (HSTs), light rail vehicles (LRV), electric multiple unit (EMU), diesel multiple units (DMU), and metro vehicles. This segment is expected to witness the highest growth rate during the forecast period.
The growing demand for high-speed trains in Asia and the Middle East has surged the demand of this segment. These regions are investing heavily in rail infrastructure projects with respect to LRV and electrifying rail tracks. Key vendors are setting up their base manufacturing hub in China and India. They are also participating with the strategic alliance and governments in these regions.
Global rolling stock market by railroad cars
The global rolling stock market by railroad cars is likely to exceed USD 17 billion by 2020, growing at a CAGR of over 3%. Railroad cars include passenger coaches and freight wagons. “The growing industrialization and increase in public transportation services in Asia has led to the growth of this segment. The global rail freight volume has been increased by 6.75% since 2009,” says Sharan Raj, a lead analyst at Technavio for transportation and distribution research.
Global rolling stock market by locomotive
Locomotives, also known as train engines, are rail transport vehicles used to pull or push the train from the front. They do not carry passengers or freight. These are self-propelled vehicles used to pull or push passenger coaches and freight wagons on the rail tracks. They are either electric locomotives, diesel locomotives, or diesel-electric locomotives.
These are locomotives powered by electricity from an overhead wire. The transformer inside converts electricity to the type of electricity required to run the wheels. The global electric locomotives market is expected to grow steadily during the forecast period. The market for electric locomotives is concentrated in Europe and Asia, as most of the manufacturing sites and customers are located in these regions. Asia and Commonwealth of Independent States (CIS) countries constitute more than 75% of the global electric locomotives market. Alstom, Bombardier, and Siemens are the key manufacturers of electric locomotives in Europe.
In this type of locomotives, the prime mover is a diesel engine. The market for diesel locomotives is expected to grow steadily during the forecast period. Latin America and Asian countries primarily use diesel locomotives for passenger coaches and freight wagons as developing countries at present cannot spend heavily on electric locomotives as they have budget and finance constraints. Moreover, the purchasing power of the population is very low. “In addition, in India, there are a few specialized diesel locomotive factories funded by the government which meet the demand and supply gap for these locomotives,” says Sharan.
The top vendors highlighted by Technavio’s research analysts in this report are:
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