North America - Rolling Stock Market by Product and Type - Forecast and Analysis 2024-2028

Published: Oct 2023 Pages: 152 SKU: IRTNTR45949

North America - Rolling Stock Market 2024-2028

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 growth of the market depends on several factors such as the increased demand for freight wagons, the growing urbanization and emerging PPP model, and the increasing investments in rail transportation. The market is segmented into Product, and Type.

Based on Product, the market is classified into rapid transit vehicles, railroad cars, and locomotives segments. The Type segment is categorized into rail freight and rail passenger.

What will be the Size of the North America Rolling Stock Market During the Forecast Period?

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North America Rolling Stock Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

North America Rolling Stock Market Driver

One of the key factors driving the North America rolling stock market growth is the increased demand for freight wagons. A significant part of the intercity commodity transportation was initiated through railroads in the US. In addition, most manufacturers in the country prefer railroad shipment as it is one of the safest modes of delivery. There is an increasing demand for freight shipments in countries such as the US and Canada.

Moreover, In 2022, about 40%-43% of overall rail traffic was attributed to trade in the US.  Therefore, several companies are increasing the share of freight wagons in their transportation modes. Hence, such factors are positively impacting the North America - rolling stock market. Therefore, it is expected to drive the North America rolling stock market growth during the forecast period.

North America Rolling Stock Market Trend

A key factor shaping the North America rolling stock market growth is the innovation in locomotive manufacturing. One of the major research being carried out in the R&D division of all established rolling stock manufacturers is the kinetic energy recovery system. In addition, the locomotive produces a large amount of energy while applying brakes during stopping and starting. Furthermore, it also helps the locomotive to transport heavyweight through hilly areas without the use of high horsepower engines.

Moreover,  the new locomotive engines are manufactured with reduced pollution levels. In addition, the new air-to-air heat exchanger helps to reduce engine oil operating temperatures, which, on the other hand, helps reduce emissions. Furthermore, the advanced fuel injection technology helps to lessen fuel consumption, which obviously reduces pollution. Hence, such factors are positively impacting the North America - rolling stock market. Therefore, it is expected to drive the North America rolling stock market growth during the forecast period.

North America Rolling Stock Market Challenge

Increasing maintenance and repair costs of rolling stock are one of the key challenges hindering the North America rolling stock market growth. The increase in maintenance cost of rail infrastructure coupled with the non-competitive pricing of rail freight can pose a significant threat to the market growth. In addition, rolling stock, including locomotives, freight cars, and wagons, is one of the most maintenance-intensive parts of the rail freight system.

Moreover, the maintenance cost of railways comprises the cost of maintaining and upkeeping trains, stations, loading docks, and signaling systems. Furthermore, routine maintenance necessitates replacing rail sections that are old or outdated, and the replacement cost is often expensive. Hence, such factors are negatively impacting the North America - rolling stock market. Therefore, it is expected to hinder the North America rolling stock market growth during the forecast period.

North America Rolling Stock Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

North America Rolling Stock Market Customer Landscape

Who are the Major North America Rolling Stock Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ALSTOM SA: The company offers rolling stock such as avelia high speed trains, coradia regional trains, and traxx locomotives.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

  • American Industrial Transport Inc.
  • Bombardier Inc.
  • Brookville Equipment Corp.
  • Caterpillar Inc.
  • COLMAR Technik S.p.a.
  • CRRC Corp. Ltd.
  • FreightCar America Inc.
  • General Electric Co.
  • Hitachi Ltd.
  • Hyundai Motor Co.
  • National Steel Car Ltd.
  • Railserve Inc. 
  • Siemens AG
  • Stadler Rail Ag
  • The Greenbrier Companies Inc.
  • Trinity Industries Inc.
  • United Rentals Inc.
  • Western Train Co.
  • WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the North America Rolling Stock Market?

Product Segment Analysis:

The rapid transit vehicles segment is estimated to witness significant growth during the forecast period. The rapid transit vehicles segment refers to any rolling stock that is used for transporting rail passengers. This segment of rolling stock comprises vehicles including metro trains, light rail transit vehicles, trams, sleeper coaches, double-decker trains, and chair cars. In addition, there is a significant investment by several countries in the development and construction of urban transit systems to increase local and regional connectivity and improve economic activity.

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The rapid transit vehicles segment was the largest segment and was valued at USD 2.74 billion in 2018. Moreover, with the rising concerns of environmental pollution from fossil fuel-driven private vehicles, government agencies in North America have been focusing on improving the public transport networks. In addition, rail transport presents an economically feasible and energy-efficient solution. Furthermore, factors such as the development of long-distance passenger routes and the upgrades of vehicles on the existing routes are expected to fuel the growth of this segment which in turn will drive the North America rolling stock market growth during the forecast period.

Type Segment Analysis:

Based on type, the segment is classified into rail freight and rail passenger. The demand for rail freight rolling stock is fuelled by the overall economic activity. There is an increase in demand for transporting goods as the economy is growing, leading to an increased demand for freight cars and locomotives. In addition, the types and quantities of commodities being transported by rail have a significant impact on rolling stock demand. Moreover, industries such as agriculture, mining, energy, and manufacturing heavily rely on rail freight for transporting raw materials and finished products. Furthermore, the rapid growth of e-commerce has boosted the need for efficient transportation and distribution networks. Hence, such factors are fuelling the growth of this segment which in turn will drive the North America rolling stock market growth during the forecast period.

Segment Overview

The North America rolling stock market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Product Outlook (USD Million, 2018 - 2028)
    • Rapid transit vehicles
    • Railroad cars
    • Locomotives
  • Type Outlook (USD Million, 2018 - 2028)
    • Rail freight
    • Rail passenger

North America Rolling Stock Market Scope

Report Coverage

Details

Page number

152

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.71%

Market growth 2024-2028

USD 1,690.33 million

Market structure

Fragmented

YoY growth 2023-2024(%)

2.85

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ALSTOM SA, American Industrial Transport Inc., Bombardier Inc., Brookville Equipment Corp., Caterpillar Inc., COLMAR Technik S.p.a., CRRC Corp. Ltd., FreightCar America Inc., General Electric Co., Hitachi Ltd., Hyundai Motor Co., National Steel Car Ltd., Railserve Inc. , Siemens AG, Stadler Rail Ag, The Greenbrier Companies Inc., Trinity Industries Inc., United Rentals Inc., Western Train Co., and WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this North America Rolling Stock Market In Regional Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market  size and its contribution to the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across North America
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

    4 Historic Market Size

    • 4.1 Rolling stock market in North America 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on rolling stock market in north America 2018 - 2022 ($ billion)
    • 4.2 Product Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
    • 4.3 Type Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 29: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 30: Data Table on Product - Market share 2023-2028 (%)
    • 6.2 Comparison by Product
      • Exhibit 31: Chart on Comparison by Product
      • Exhibit 32: Data Table on Comparison by Product
    • 6.3 Rapid transit vehicles - Market size and forecast 2023-2028
      • Exhibit 33: Chart on Rapid transit vehicles - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 34: Data Table on Rapid transit vehicles - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Chart on Rapid transit vehicles - Year-over-year growth 2023-2028 (%)
      • Exhibit 36: Data Table on Rapid transit vehicles - Year-over-year growth 2023-2028 (%)
    • 6.4 Railroad cars - Market size and forecast 2023-2028
      • Exhibit 37: Chart on Railroad cars - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 38: Data Table on Railroad cars - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Chart on Railroad cars - Year-over-year growth 2023-2028 (%)
      • Exhibit 40: Data Table on Railroad cars - Year-over-year growth 2023-2028 (%)
    • 6.5 Locomotives - Market size and forecast 2023-2028
      • Exhibit 41: Chart on Locomotives - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 42: Data Table on Locomotives - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Chart on Locomotives - Year-over-year growth 2023-2028 (%)
      • Exhibit 44: Data Table on Locomotives - Year-over-year growth 2023-2028 (%)
    • 6.6 Market opportunity by Product
      • Exhibit 45: Market opportunity by Product ($ billion)
      • Exhibit 46: Data Table on Market opportunity by Product ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 47: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 48: Data Table on Type - Market share 2023-2028 (%)
    • 7.2 Comparison by Type
      • Exhibit 49: Chart on Comparison by Type
      • Exhibit 50: Data Table on Comparison by Type
    • 7.3 Rail freight - Market size and forecast 2023-2028
      • Exhibit 51: Chart on Rail freight - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 52: Data Table on Rail freight - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Chart on Rail freight - Year-over-year growth 2023-2028 (%)
      • Exhibit 54: Data Table on Rail freight - Year-over-year growth 2023-2028 (%)
    • 7.4 Rail passenger - Market size and forecast 2023-2028
      • Exhibit 55: Chart on Rail passenger - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 56: Data Table on Rail passenger - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Chart on Rail passenger - Year-over-year growth 2023-2028 (%)
      • Exhibit 58: Data Table on Rail passenger - Year-over-year growth 2023-2028 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 59: Market opportunity by Type ($ billion)
      • Exhibit 60: Data Table on Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 62: Chart on Market share by geography - 2023-2028 (%)
      • Exhibit 63: Data Table on Market share by geography - 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 64: Chart on Geographic comparison
      • Exhibit 65: Data Table on Geographic comparison
    • 9.3 US - Market size and forecast 2023-2028
      • Exhibit 66: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 67: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 68: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.4 Canada - Market size and forecast 2023-2028
      • Exhibit 70: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 71: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 72: Chart on Canada - Year-over-year growth 2023-2028 (%)
      • Exhibit 73: Data Table on Canada - Year-over-year growth 2023-2028 (%)
    • 9.5 Mexico - Market size and forecast 2023-2028
      • Exhibit 74: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 75: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Chart on Mexico - Year-over-year growth 2023-2028 (%)
      • Exhibit 77: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
    • 9.6 Market opportunity by geography
      • Exhibit 78: Market opportunity by geography ($ billion)
      • Exhibit 79: Data Table on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 80: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 81: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 82: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 83: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 84: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 85: Matrix on vendor position and classification
            • 12.3 ALSTOM SA
              • Exhibit 86: ALSTOM SA - Overview
              • Exhibit 87: ALSTOM SA - Business segments
              • Exhibit 88: ALSTOM SA - Key offerings
              • Exhibit 89: ALSTOM SA - Segment focus
            • 12.4 American Industrial Transport Inc.
              • Exhibit 90: American Industrial Transport Inc. - Overview
              • Exhibit 91: American Industrial Transport Inc. - Product / Service
              • Exhibit 92: American Industrial Transport Inc. - Key offerings
            • 12.5 Bombardier Inc.
              • Exhibit 93: Bombardier Inc. - Overview
              • Exhibit 94: Bombardier Inc. - Product / Service
              • Exhibit 95: Bombardier Inc. - Key offerings
            • 12.6 Brookville Equipment Corp.
              • Exhibit 96: Brookville Equipment Corp. - Overview
              • Exhibit 97: Brookville Equipment Corp. - Product / Service
              • Exhibit 98: Brookville Equipment Corp. - Key offerings
            • 12.7 Caterpillar Inc.
              • Exhibit 99: Caterpillar Inc. - Overview
              • Exhibit 100: Caterpillar Inc. - Business segments
              • Exhibit 101: Caterpillar Inc. - Key offerings
              • Exhibit 102: Caterpillar Inc. - Segment focus
            • 12.8 CRRC Corp. Ltd.
              • Exhibit 103: CRRC Corp. Ltd. - Overview
              • Exhibit 104: CRRC Corp. Ltd. - Product / Service
              • Exhibit 105: CRRC Corp. Ltd. - Key offerings
            • 12.9 FreightCar America Inc.
              • Exhibit 106: FreightCar America Inc. - Overview
              • Exhibit 107: FreightCar America Inc. - Product / Service
              • Exhibit 108: FreightCar America Inc. - Key offerings
            • 12.10 Hitachi Ltd.
              • Exhibit 109: Hitachi Ltd. - Overview
              • Exhibit 110: Hitachi Ltd. - Business segments
              • Exhibit 111: Hitachi Ltd. - Key news
              • Exhibit 112: Hitachi Ltd. - Key offerings
              • Exhibit 113: Hitachi Ltd. - Segment focus
            • 12.11 Hyundai Motor Co.
              • Exhibit 114: Hyundai Motor Co. - Overview
              • Exhibit 115: Hyundai Motor Co. - Business segments
              • Exhibit 116: Hyundai Motor Co. - Key news
              • Exhibit 117: Hyundai Motor Co. - Key offerings
              • Exhibit 118: Hyundai Motor Co. - Segment focus
            • 12.12 National Steel Car Ltd.
              • Exhibit 119: National Steel Car Ltd. - Overview
              • Exhibit 120: National Steel Car Ltd. - Product / Service
              • Exhibit 121: National Steel Car Ltd. - Key offerings
            • 12.13 Siemens AG
              • Exhibit 122: Siemens AG - Overview
              • Exhibit 123: Siemens AG - Business segments
              • Exhibit 124: Siemens AG - Key news
              • Exhibit 125: Siemens AG - Key offerings
              • Exhibit 126: Siemens AG - Segment focus
            • 12.14 Stadler Rail Ag
              • Exhibit 127: Stadler Rail Ag - Overview
              • Exhibit 128: Stadler Rail Ag - Business segments
              • Exhibit 129: Stadler Rail Ag - Key offerings
              • Exhibit 130: Stadler Rail Ag - Segment focus
            • 12.15 The Greenbrier Companies Inc.
              • Exhibit 131: The Greenbrier Companies Inc. - Overview
              • Exhibit 132: The Greenbrier Companies Inc. - Business segments
              • Exhibit 133: The Greenbrier Companies Inc. - Key news
              • Exhibit 134: The Greenbrier Companies Inc. - Key offerings
              • Exhibit 135: The Greenbrier Companies Inc. - Segment focus
            • 12.16 Trinity Industries Inc.
              • Exhibit 136: Trinity Industries Inc. - Overview
              • Exhibit 137: Trinity Industries Inc. - Business segments
              • Exhibit 138: Trinity Industries Inc. - Key offerings
              • Exhibit 139: Trinity Industries Inc. - Segment focus
            • 12.17 WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.
              • Exhibit 140: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. - Overview
              • Exhibit 141: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. - Business segments
              • Exhibit 142: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. - Key news
              • Exhibit 143: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. - Key offerings
              • Exhibit 144: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 145: Inclusions checklist
                • Exhibit 146: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 147: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 148: Research methodology
                • Exhibit 149: Validation techniques employed for market sizing
                • Exhibit 150: Information sources
              • 13.5 List of abbreviations
                • Exhibit 151: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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