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Rolling Stock Market, Size, Share, Growth, Report (2018-2025)
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The global rolling stock market is estimated to be USD 54.43 billion in 2018 and is projected to reach USD 73.80 billion by 2025, growing at a CAGR of 4.44% from 2018 to 2025. Asia Oceania is estimated to lead the market in 2018; China, Japan, and India are the key contributors to the rolling stock market in the region. Increasing urbanization, adoption of public transport as a means of reducing traffic congestion, growing demand for energy-efficient transport and increasing adoption of rolling stocks for freight transportation are major drivers of the rolling stock market. Along with this, the leading rail infrastructure developers are also adopting collaboration strategies with local rail authorities to develop rail infrastructure.
The rolling stock market is dominated by global players such as CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), Kawasaki Heavy Industries (Japan), Hyundai Rotem (South Korea), and General Electric Company (US). The other major players in the rolling stock market are focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from the several collaborations, supply contracts and joint venture projects undertaken by these companies in recent years.
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CRRC is currently headquartered in Beijing, China. In 2015, CSR merged with China CNR to form CRRC. The company is in the research and development, design, manufacture, sale, refurbishment, and lease of transportation vehicles. Its rolling stock product portfolio includes high-speed MUs, high-powered electric locomotives, transit vehicles, heavy haul freight trains, and passenger carriages. Its major share of revenues is derived from the domestic Chinese market. However, recently the company started expanding in the global market to diversify its revenue mix. For instance, it received a supply contract from a Hong Kong transportation company named MTR Corporation. The company is also targeting the high growth regions such as the Middle East and North Africa.
Bombardier (Canada) is one of the global leaders in the production of rolling stocks and aircraft. It is headquartered in Montreal, Canada and was founded in 1974. The company manufactures light rail vehicles, metros, commuter and regional trains, intercity trains, high speed and very high-speed trains, locomotives, propulsion and controls and bogies in its transportation segment. The company has secured supply contracts for its products, which will help maintain balanced revenue. For example, Bombardier secured supply contracts with major transportation authorities such as Transport for London, Australia’s Gold Coast light rail system, Israel Railways, Czech Railways, Singapore’s Land Transport Authority, and Deutsche Bahn (Germany). Bombardier signed a contract with Singapore’s Land Transport Authority (LTA) in July 2018. The contract’s scope covers the supply of 396 BOMBARDIER MOVIA metro cars for passenger services on the high-capacity North-South (NSL) and East-West (EWL) Mass Rapid Transit (MRT) lines. The contract is valued at approximately USD 607 million. The contract includes an option for long-term service support, and if exercised by SMRT Corporation Ltd., the total contract could be worth up to USD 881 million.
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