PUBLISHER: The Business Research Company | PRODUCT CODE: 1712612
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712612
Trains and components encompass the entire rail transport system, including both the trains and the various parts that contribute to their functionality and operation. The seamless integration of these components is essential for the overall performance and dependability of train operations, whether in public transport, freight services, or high-speed rail systems.
The primary categories within the train and components market include parts and accessories for railway vehicles, locomotives, wagons, and other types of rolling stock. Locomotives are comprised of multiple diesel-electric locomotives linked together to provide power for a train, which can be composed of one or more locomotives. Various types of trains, such as light rail, bullet trains, and high-speed rail, are utilized for the transportation of both passengers and freight.
The train and components market research report is one of a series of new reports from The Business Research Company that provides train and components market statistics, including train and components industry global market size, regional shares, competitors with a train and components market share, detailed train and components market segments, market trends and opportunities, and any further data you may need to thrive in the train and components industry. This train and components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The train and components market size has grown strongly in recent years. It will grow from $245.66 billion in 2024 to $266.59 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to economic conditions, urbanization, government investment, environmental concerns.
The train and components market size is expected to see strong growth in the next few years. It will grow to $354.13 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to high-speed rail expansion, sustainable transport, electrification, freight rail expansion, regulatory compliance. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
Anticipated economic growth and the rapidly expanding urban population are set to drive increased demand for new trains and components during the forecast period. Urbanization fosters a heightened preference for luxurious goods among the populace. Globally, roughly 60% of urban areas remain undeveloped, presenting significant opportunities, particularly in Asian countries like Indonesia, Vietnam, and the Philippines, which are gaining prominence in export-oriented manufacturing. The World Bank projects a growth of 250 million in the urban population of South Asia by 2030. This swift urbanization is poised to significantly contribute to the growth of the train and component manufacturing markets.
Government initiatives are playing a crucial role in driving the growth of the train and component market. These initiatives typically involve funding programs aimed at addressing specific challenges within the rail sector, using resources such as taxes, grants, and donations to support the research and development of new train technologies and components. For example, in September 2023, the U.S. Department of Transportation (DOT) announced more than $1.4 billion in funding for 70 rail improvement projects across 35 states. This funding is intended to enhance rail safety, strengthen supply chains, and improve passenger rail services. The projects funded under the Consolidated Rail Infrastructure and Safety Improvements (CRISI) program represent a significant investment, focusing on modernizing infrastructure, reducing emissions, and improving operational efficiency.
Locomotive parts manufacturers are increasingly adopting nose suspension drivers as they help mitigate shock loads resulting from the tensile coupling between the motor shaft and the axle. A nose suspension drive is a mechanism employed in electric railcars, distributing half of the traction motor's weight through a metal wheel axle, while the remainder is supported by a bogie frame. Integration of an electric motor with a nose-mounted traction motor effectively reduces the shock and vibrations arising from track irregularities. Leading companies engaged in the manufacture of such systems include WINDHOFF Bahn-und Anlagentechnik GmbH, Afcons Infrastructure Ltd., and Balfour Beatty Rail Ltd.
Major companies in the train and component market are concentrating on developing innovative facilities, such as components manufacturing plants, to deliver reliable services to customers. A components manufacturing facility is a plant that produces individual parts or components used in the assembly of finished products. For example, Siemens Mobility, a transport company based in Germany, invested $220 million in a state-of-the-art rail manufacturing facility in Lexington, North Carolina, set to begin operations in 2024. This advanced facility will incorporate cutting-edge technologies like robotic welding, 3D printing, and Virtual Reality welder training, all while achieving carbon neutrality to align with Siemens' sustainability objectives.
Major companies operating in the train and components market include CRRC Co. Ltd., Siemens AG, Wabtec Corporation, Alstom SA, Hyundai Motor Co. Ltd., Hitachi Ltd., Knorr-Bremse AG, Stadler Rail AG, China Railway Signal & Communication Corporation Limited, Construcciones y Auxiliar de Ferrocarrile, Bombardier Transportation, Brookville Equipment Corporation, CAF USA, CRRC Corporation, Electro-Motive Diesel, General Electric Transportation, Greenbrier Companies, Kawasaki Railcar Manufacturing Co. Ltd., Kinki Sharyo International L.L.C., L.B. Foster Company, Mitsubishi Electric Corporation, National Steel Car, New United Group, Nippon Sharyo Ltd., Plasser American Corporation, Progress Rail Services Corporation, Siemens Mobility, Stadler Rail, Talgo, The Andersons, Trinity Industries Inc., Wabtec Corporation, Westinghouse Air Brake Technologies Corporation, WSP USA, Xinhua News Agency, Zhuzhou CRRC Times Electric Co. Ltd.
Western Europe was the largest region in the train and components market in 2024. Asia-Pacific was the second largest market in train and components market. The regions covered in the train and components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the train and components market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The train and components market consists of sales of train motors, train wheels, train doors, train bogies, and train brake system. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Train And Components Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on train and components market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for train and components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The train and components market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.