The global market reached a value of US$ 64.5 Billion in 2021 and expects to reach US$ 76.6 Billion by 2027, exhibiting at a CAGR of 2.8% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, February 11, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Rolling Stock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global rolling stock market size reached a value of US$ 64.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 76.6 Billion by 2027, exhibiting at a CAGR of 2.8% during 2022-2027. Rolling stock refers to any powered or unpowered vehicle that runs on railway tracks. It includes locomotives, coaches, carriages, freight wagons, and passenger cars. As compared to other modes of transportation, rolling stock offers improved comfort and cost-effectiveness, better reliability, larger carrying capacity, and faster commute. Apart from this, it provides easy customization as per an individual requirement, due to which it is being widely adopted across several industry verticals.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Rolling Stock Market Trends:
The improving railway infrastructure, particularly in emerging economies, and the increasing use of public transportation services are mainly driving the global rolling stock market growth. In line with this, manufacturers are utilizing lightweight components to improve fuel and operational efficiency in the production of rolling stocks, which is contributing to market growth. Moreover, continuous research and development (R&D) activities to introduce automated and driverless trains that can be remotely monitored and controlled from a control station are acting as another growth-inducing factor. Furthermore, the integration of the internet of things (IoT) and big data analytics is assisting original equipment manufacturers (OEMs) in streamlining their operations and providing real-time monitoring and predictive maintenance. This, in turn, is fueling the market growth.
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Key Market Segmentation:
Breakup by Product Type:
• Diesel Locomotive
• Electric Locomotive
Breakup by Locomotive Technology:
• Conventional Locomotive
• Turbocharge Locomotive
Breakup by Application:
• Passenger Coach
• Freight Wagon
Competitive Landscape with Key Players:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Other Reports by IMARC Group:
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