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Rolling Stock Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Published: | Mordor Intelligence Pvt Ltd | 70 Pages | Delivery time: 2-3 business days


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Rolling Stock Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 70 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents

The rolling stock market is anticipated to register a CAGR of about 4% during the forecast period (2020 - 2025).

Key Highlights

  • Rapid urbanization, traffic congestion, growing environmental concerns, and increasing technological advancements are expected to fuel the demand for rolling stocks in the forecast period. Rigorous research and innovation are needed to manufacture rolling stock that is durable as the rolling stock orders have extended lead times and have to last for a long time. This market is witnessing active participation from governments to make the cheapest and safest means of transportation more comfortable.
  • It has been decades since the introduction of trains for transportation, and now autonomous trains and ultra-high-speed trains are the future of railway transportation, along with other new technologies that support it. For instance, in the Level 3 European Rail Traffic Management System (ECTS), trackside equipment will not exist. The train-location and integrity will not rely on trackside equipment (signals, track circuits, or axle counters) instead will be handled by the train and Radio Block Center (RBC). However, it is currently still under standardization. Whereas, ECTS Level 2 is still in its test phase in some developing countries.
  • The European Union (EU) has the largest electrified rail length in the world, and it is also one of the safest railway networks in the world, with around 218,000 km of active rail network. EU commission is committed to making its rail network more convenient for passengers by introducing various laws, along with inviting private industry players to advance the current network. For instance, the EU commission has set a target of moving 30% of the freight traveled by a distance of more than 300 km for other modes of transport (rail or water) by 2030.

Key Market Trends

Government Participation is Contributing to the Market Growth

Growing environmental concerns due to the road and air transport, city congestion is increasing at a rapid rate, railway transportation is the cheap and environmentally friendly alternative. In most of the most significant rail network countries, management is under the control of private players. But at the same time government has some control over its operations. India, which has the fourth-largest rail network in the world, has a state-owned rail network, and in 2019, Indian Railways received a budget allocation of USD 9.62 billion for the 2019-20 fiscal year, which was 19.5% more than that of the previous year. In addition, a proposed capital expenditure outlay of USD 23.4 billion for railways. The government is planning to introduce modern trains and has already privatized a few trains on selected routes. Similarly, in 2017 the UK government announced that around USD 50 billion would be invested in rail network modernization from 2019 to 2024.

Asia pacific Is Expected to Lead the Market

The railway is the preferred means of transport among the passengers of the major Asian economies, such as China, India, and Japan. With these three countries also topping the list of passenger-kilometer per year, in addition to those major manufacturers of rolling stock market are headquartered in this region.

Local governments are putting more and more capital for advancing the existing rail network. For instance,

  • In 2018, China invested USD 117.12 billion in fixed rail assets, and its plan for 2019 was to invest in 6,800 km of new railway lines, 40% higher from the previous year, in which approximately half of the railway lines are high-speed rail.
  • Indian Railways is set to combine its rolling stock manufacturing units and workshops into a new public sector unit (PSU) - Indian Railway Rolling Stock Company. This PSU will be structured along the lines of China's CRRC Group. In addition, the Indian Railways is also modernizing the existing railway network by including a new OMRS system, which consists of Acoustic Bearing Detector (ABD) or Rail Bearing Acoustic Monitor (RailBAM) that can detect the faults in the bearings and wheels of the rolling asset.

Competitive Landscape

The rolling stock market is consolidated, and some of the major players in the market are CRRC, Alstom SA, Siemens AG, Wabtec Corporation, and Hyundai Rotem. The companies are expanding their presence by acquiring other market participants, forming strategic alliances with other players in the market, and launching new and advance rolling stocks. For instance,

  • In 2020, Alstom announced that it signed an MoU with Bombardier Inc. and Caisse de depot et placement du Quebec (CDPQ) for the acquisition of Bombardier Transportation. The price for the acquisition of all the Bombardier Transportation shares is around EUR 6 billion.
  • In 2020, Stadler sealed a USD 349 million contract from Hungarian MAV-START, a state-owned passenger operator for 21 KISS electric multiple unit trains and a USD 112 million maintenance contract from the US transit agency Dallas Area Rapid Transit (DART).
  • In 2020, BST, Bombardier joint venture (JV), won a USD 357 million contract from China State Railway Group, this contract covers the maintenance of 656 high-speed train cars. Previously, these trains were manufactured by BST.
  • In 2019, the China Railway Rolling Stock Corporation (CRRC) unveiled its latest metro train in Australia, this new metro train in fully automatic, capable of starting and stopping, controlling the doors and handling emergencies autonomously. Altogether, 23 locomotives and about 27,000 goods trains from CRRC operate in Australia.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Product Code: 69272



  • 1.1 Study Assumptions
  • 1.2 Scope of the Study




  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry


  • 5.1 By Type
    • 5.1.1 Locomotives
    • 5.1.2 Metros
    • 5.1.3 Passenger coaches
    • 5.1.4 Other Types
  • 5.2 By Propulsion Type
    • 5.2.1 Diesel
    • 5.2.2 Electric
    • 5.2.3 Electro-diesel
  • 5.3 By Geography
    • 5.3.1 North America
      • United States
      • Canada
      • Rest of North America
    • 5.3.2 Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Spain
      • Rest of Europe
    • 5.3.3 Asia-Pacific
      • India
      • China
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • 5.3.4 Rest of the World
      • Brazil
      • Mexico
      • United Arab Emirates
      • Other Countries


  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 China Railway Construction Corporation Limited (CRCC)
    • 6.2.2 Alstom SA
    • 6.2.3 Siemens AG
    • 6.2.4 Wabtec Corporation
    • 6.2.5 Kawasaki Heavy Industries Ltd
    • 6.2.6 CJSC Transmashholding
    • 6.2.7 Stadler Rail
    • 6.2.8 DescriptionConstrucciones y Auxiliar de Ferrocarriles SA
    • 6.2.9 Hyundai Rotem
    • 6.2.10 Mitsubishi Heavy Industries Ltd