Rolling Stock Market

The global rolling stock market, by value, is estimated to be USD 28.6 billion in 2024 and is projected to reach USD 40.1 billion by 2030, at a CAGR of 5.8% from 2024 to 2030. In the near future, demand for rolling stock is expected to increase due to favourable investment made for railway industry.

With the growing urban population in the region, urban transportation facilities will increase, adding metros, light rails, monorails, and subways, thereby fueling the demand for new rail vehicles like locomotives, multiple units, wagons, and coaches. Governments worldwide have increased investments in rail system infrastructure to cater to the rising population's transportation needs. For instance, in June 2024, The Spanish Government is investing USD 2.4 Bn into rail infrastructure in the region of Asturias as part of the development of the EU’s multimodal Atlantic Corridor.  These investments allow rolling stock manufacturers to increase their revenue streams and geographic presence.

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The rolling stock market is dominated by global players such as CRRC Corporation Limited (China), Siemens AG (Germany), Alstom SA (France), Stadler Rail AG (Switzerland), and Wabtec Corporation (US). These companies adopted new product launches, supply contracts, and other strategies to gain traction in the rolling stock market.

CRRC Corporation Limited is a key player in the rolling stock market. CRRC has built up strong brand equity and has become one of the largest suppliers for the railway industry. As the world's largest and most diverse rolling stock supplier with advanced technology, CRRC has consecutively ranked first in the world in terms of sales volume of rolling stock equipment for years. It has carried out the powerful transportation system strategy and fully, accurately, and comprehensively implemented the new development concept based on the new development stages. The customer-centric approach that CRRC has followed is significantly dominant in its strategy. This company lays great emphasis on providing all solutions comprehensive in nature, comprising not only rolling stock but maintenance, repair, and operational support for ensuring customer satisfaction and long-term relationship building. It can provide solutions for all requirements from city transportation systems to freight transportation. This makes CRRC well-positioned in the market.

Siemens AG has increased its presence in the rolling stock market by partnering with governments and concluding various agreements with railway operators. Over the past three years, it has entered into various agreements and partnerships. The company has a strong focus on research and development, which enables it to keep pace with changes in the industry and gives it a "first-mover" advantage by launching products before competitors, as well as delivering advanced products and services to its customers. As of September 2023, the company had 45,000 granted patents and employed 50,029 people in research and development. In fiscal 2023, the company reported research and development spending of $6.5 billion, compared to $5.4 billion in fiscal 2022.

Alstom has a strong emphasis on research and development to help drive innovation in high-growth markets and renew or extend its existing product portfolio. Thus, with its strong focus on enhancing its R&D capabilities, the company can develop and launch new products and technologies, which increasing its market competitiveness and business growth. The research and development (R&D) activities of the company focuses on the development of innovative technologies, new-generation trains, components and enhanced signalling products and solutions, as well as services and systems activities. All these R&D efforts are directed towards addressing the needs of the customers and passengers as well as taking into account the environmental and sustainability impact of its offers. Company aim is to develop efficient rail systems to decrease noise and energy consumption with an ultimate focus on reducing in green-house gas emissions. It also continuously innovates its existing product offering; it invested USD 808.2 million in R&D in 2023.

Stadler Rail AG is constantly moving forward and developing technology to offer its customers the perfect vehicles. The company has built a diverse portfolio of products in the locomotive industry. These include urban mass transit, ATO, metro, major local, signaling products used for rail navigation, etc. High-speed intercity modular trains like Flirt200 and Flirt160 are in high demand and are also offered with customization. Stadler is actively expanding its scope worldwide. They aim to enter new markets and strengthen their presence in existing ones through strategic partnerships, joint ventures and local manufacturing facilities. This helps them better serve local customers and comply with regional regulations. For example, in May 2024, Stadler inaugurated its newest service center in Germany.

Wabtec Corporation is one of the key companies in the global rolling stock market. The company has a dominating presence in the North American market and one of the major manufacturers and providers of technology-based products and services for freight rails, passenger transits, and select industrial markets across the globe. It is known for supplying locomotives with advanced safety features, high productivity, and less maintenance cost. In March 2024, the Uruguay-based multinational leader in integrated logistics, Grupo RAS, ordered three C23EMP locomotives from Wabtec Corporation. For Grupo RAS, this contract is a further critical milestone in entering the Uruguayan railway market. The company, present with over 30 years of experience in products and services, takes a rather aggressive stand on sustainability, and works to reduce rail travel's adverse impact on the environment. The company is currently developing Driver Assist, Smart Cruise Control with PTC, supervised ATO/Single person, and autonomous operation.

Related Reports:

Rolling Stock Market by Component, Product Type (Locomotives, Rapid Transits, Coaches, & Wagons), Locomotive Technology (Conventional & Turbocharged), Application (Passenger Transportation & Freight transportation) & Region - Global Forecast to 2030

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