Subject: MRR
Rolling Stock Market In Europe to grow by USD 3.01 billion from 2024-2028, Market growth at 3.27% CAGR expected during the forecast period, Technavio
NEW YORK, March 22, 2024 /PRNewswire/ -- The global rolling stock market in Europe size is estimated to grow by USD 3.01 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 3.27% during the forecast period. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 100%.
For more insights on the historic (2018 to 2022) and forecast market size (2024 to 2028)
Report Coverage | Details |
Page number | 154 |
Base year | 2023 |
Historic period | 2018-2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 3.27% |
Market Growth 2024-2028 | USD 3.01 billion |
Market structure | Fragmented |
YoY growth 2023-2024(%) | 3.11 |
Segment Overview
Technavio has segmented the market based on type, Application (Freight transportation and Passenger transportation), Product (Freight car, Passenger transit vehicle, and Locomotive), and Geography (Europe).
- The freight transportation sector is poised for significant growth, particularly in Europe, driven by increased demand for railway freight services due to rising industrial and cross-border trade activities. Investments in rail infrastructure, coupled with the reliability and efficiency of rail transport, are key drivers.
Geography Overview
By geography, the global rolling stock market in Europe is segmented into Europe. The report provides actionable insights and estimates the contribution of all regions to the growth of the global rolling stock market in Europe.
- The Rolling Stock Market in Europe features a range of technologies, from traditional locomotives to innovative Maglev trains, catering to diverse transportation needs. With a focus on public transit and industrial transport, the market adopts technologies like Big Data and IoT to enhance efficiency and passenger experience. Investments in infrastructure and research further strengthen the market.
Insights on the market contribution of various segments including country and region wise, historic (2018 to 2022) and forecast market size (2024 to 2028)
What's New?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong
Market Dynamics
Growing investments in urban rail transit are notably driving market growth:
Growing investments in urban rail transit drive market growth, addressing congestion in cities and promoting efficient public transportation. These systems, encompassing trams, light rails, and commuter rails, cater to intra-city transport needs. European countries like Germany, France, and the UK prioritize urban rail to boost domestic investment, combat pollution, and reduce reliance on private vehicles. Additionally, Switzerland, Sweden, the Netherlands, Spain, and Italy heavily invest in expanding connectivity and easing metro congestion. Such initiatives anticipate market growth, with rail innovations, like magnetic transportation, enhancing network efficiency across Europe, especially over long distances.
- Innovations in locomotive manufacturing are an emerging trend shaping market growth.
- Delays in railway project development and execution are a significant challenge hindering market growth.
Insights on Market Drivers, trends, & Challenges, historic period (2018 to 2022) and forecast period (2024 to 2028)
What are the key data covered in this Rolling Stock Market In Europe report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Rolling Stock Market In Europe between 2024 and 2028
- Precise estimation of the size of the Rolling Stock Market In Europe size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Rolling Stock Market In Europe industry across Europe
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Rolling Stock Market In Europe vendors
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Analyst Review:
The Europe Rolling Stock Market, comprising a wide array of transportation solutions from rapid transit to turbocharged locomotives, plays a pivotal role in the region's transportation network. From conventional to maglev trains, the market offers diverse options for passenger and freight transportation across the EU's extensive rail network.
Key components like traction motors, wheelsets, and auxiliary power systems ensure the smooth operation of rolling stock, catering to the needs of commuters and industrial mining activities alike. Passenger information systems and air conditioning enhance the onboard experience, facilitating public transportation and the movement of bulky goods efficiently.
Driven by factors such as urbanization and industrial growth, the market witnesses increasing demand for rapid trams, local passenger trains, and fast metro trains. OEMs and suppliers are embracing digital solutions, leveraging big data and analytics for real-time monitoring and predictive maintenance.
Opportunities abound in upgrading railway infrastructure, with initiatives aimed at improving rail networks across the European Union. Technological innovations, including IoT integration and magnetic levitation trains, are reshaping the industry, focusing on enhancing communication, signaling, and onboard passenger experience.
As the market continues to evolve, stakeholders are streamlining operations and investing in research activities to meet the growing demands of rolling stock users while adhering to trade regulations and ensuring import-export compliance.
Market Overview:
The Europe Rolling Stock Market is driven by a focus on efficient freight and passenger transportation. Rapid transit systems, including rapid trams and fast metro trains, cater to urban commuters and bulky goods movement. Freight transportation relies on cost-effective rail networks, utilizing freight wagons and powered coaches. Passenger information systems enhance the passenger experience, while big data and technological innovations streamline operations and enable predictive maintenance solutions. OEMs and suppliers contribute digital solutions for real-time monitoring. Initiatives to upgrade railway infrastructure present growth opportunities, with a focus on enhancing rail networks and improving on-board experiences. As Europe emphasizes sustainable transportation, the rolling stock market evolves to meet demands for efficiency, safety, and capacity.
Related Reports:
North America - Rolling Stock Market is poised to grow by USD 1.69 billion, exhibiting a compound annual growth rate(CAGR) of 3.71% between 2023 and 2028.
The railway couplers market size is estimated to grow at a CAGR of 2.53% between 2022 and 2027. The market size is forecast to increase by USD 275.16 million.
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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