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The Europe rolling stock market size is forecast to increase by USD 3.01 billion, at a CAGR of 3.27% between 2023 and 2028. The European market is experiencing significant growth, driven by several key factors. Investments in new railway projects, such as high-speed rail and freight lines, are expanding the market's scope. Urbanization and the subsequent need for efficient transportation solutions and freight logistics are leading to increased investments in urban rail transit. The growing trend toward public-private partnerships (PPPs) in transportation infrastructure development is also fueling market growth in Europe. Rolling stock manufacturers and suppliers are benefiting from these trends, as demand for new and modern trains and railcars continues to rise, driving the need for railcar leasing. The PPP model, in particular, is enabling governments and private entities to collaborate on large-scale rail projects, resulting in increased investment and innovation in the rolling stock market.
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The Europe rolling stock market forecasting report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The freight transportation segment is estimated to witness significant growth during the forecast period. The demand for rail freight transportation is expected to increase in Europe during the forecast period due to the rise in industrial and cross-border trade activities in the region. The increasing investments in the development of rail infrastructure in different countries across the region will also drive the growth of the market.
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The freight transportation segment was the largest and was valued at USD 9.23 billion in 2018. Moreover, the growth of the railway freight transportation industry in Europe is also attributed to the higher reliability of rail transportation when compared with road freight transportation, especially in terms of punctuality and the timely delivery of products. The integration of intelligent systems in rail freight cars and wagons allows operators to keep track of products and the location of the train, which helps operators schedule trains properly and minimize delays in freight transportation. Thus, the increase in investments in rail freight infrastructure and the convenience provided by rail freight transportation will drive the growth of the freight transportation segment, which in turn will fuel the growth of the market during the market forecast period.
The European rolling stock market is experiencing significant challenges and opportunities. There is a increasing focus on reducing carbon emissions and greenhouse gases, leading to a heightened emphasis on electricity and railway electrification. The high cost of oil and gasoline intensifies the demand for fuel efficiency and lightweight components in vehicles and rail wheels. Dependability remains crucial amidst infrastructure inadequacies and traffic congestion. The sector is transitioning towards eco-friendly environments with the adoption of electric locomotives and enhancements in urban transit systems. Air quality degradation is being addressed through the promotion of unpowered vehicles and those with efficient passenger carriages and car body fittings. Europe's rolling stock sector is committed to sustainable solutions and enhanced public transport infrastructure.
The sector is undergoing a transformation towards more environmentally friendly practices, with a focus on electrification and fuel efficiency. The high cost of fossil fuels and growing concerns over air quality are driving demand for innovative solutions in the rolling stock industry. Reliability remains a top priority, as infrastructure inadequacies and traffic congestion continue to pose challenges. The sector is responding with a range of initiatives, from the adoption of electric locomotives to the development of more efficient passenger carriages and car body fittings.
Our team of experts conducted an extensive analysis using 2023 as the base year, identifying the primary drivers, trends, and hurdles. A thorough comprehension of these factors will enable companies to refine their marketing strategies and secure a competitive edge in the market.
Significant investments in urban rail transit are propelling market expansion. The imperative to alleviate traffic congestion in cities and urban regions, coupled with the demand for effective public transportation systems, motivates numerous governments to fund urban rail transit projects. Urban rail transit refers to short-length passenger rail systems designed for transportation within urban or suburban locales. This category encompasses various systems, including trams, light rails, rapid transit rails, monorails, and commuter rails, which predominantly serve intra-city travel. European countries, such as Germany, France, and the United Kingdom, have been constructing urban rail transit systems in major cities to foster domestic growth, reduce pollution levels, and curb the reliance on private transportation.
Similarly, other countries that are investing heavily in urban rail transit systems include Switzerland, Sweden, the Netherlands, Spain, and Italy. Many of these projects are also focusing on expanding connectivity between city centers and suburban regions, easing the congestion on major metro rail routes, and increasing economic activity. Thus, the growing investments in urban rail transit are expected to propel the growth of the market during the forecast period. Rail transportation innovations, including advancements in magnetic modes of transportation and Maglev trains, are playing a pivotal role in reshaping and optimizing the efficiency of rail networks, especially over long distances, thus driving Europe rolling stock market growth.
Emerging trends in locomotive manufacturing are driving market growth through innovative advancements. Kinetic energy recovery systems have become a major focus in the research and development divisions of leading rolling stock manufacturers. The locomotive consumes a substantial amount of energy during stopping and starting processes. To address this, a system must be developed to collect and store this energy for later use during engineering demands. Furthermore, this kinetic energy recovery system also enables the locomotive to transport heavy loads through hilly areas without relying on high horsepower engines. Additionally, new locomotive engines are being manufactured with reduced pollution levels. An air-to-air heat exchanger is a new feature that helps lower engine oil operating temperatures, thereby reducing emissions. This heat exchanger eliminates the need for chemical coolants, thereby reducing toxic spills.
Advanced fuel injection technology is another innovation that helps minimize fuel consumption and decrease pollution levels. Furthermore, diesel particulate filters and electronic engine controls support efficient combustion and reduce emissions. In summary, the locomotive industry is witnessing significant advancements through the adoption of kinetic energy recovery systems, reduced pollution engines, air-to-air heat exchangers, advanced fuel injection technology, diesel particulate filters, and electronic engine controls. These innovations are essential in addressing the energy demands of heavy loads and reducing environmental impact. Thus, innovations in locomotive manufacturing will offer new opportunities in the market during the forecast period and drive Europe rolling stock market growth.
Delays in railway project development and execution are a significant challenge hindering Europe rolling stock market growth. European railway projects encounter challenges that result in implementation and completion delays, negatively impacting the rolling stock market. Large-scale initiatives frequently face economic burdens due to funding uncertainties and unfavorable economic conditions. Rail operators grapple with operational inefficiencies, safety concerns, and budget limitations, leading to volatility in industry investments. Notable projects, such as Germany's Stuttgart 21, have experienced significant delays and cost overruns.
Similarly, expansions in the UK and the Netherlands have faced extended delays and substantial cost increases. These planning errors and project execution delays have ripple effects, influencing annual demand orders and project financing. To foster market expansion, governments and stakeholders must streamline processes and minimize delays, cutting red tape and advocating for efficient project execution throughout the forecast period.
The Europe rolling stock market forecast 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 Europe rolling stock market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
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.
ABB Ltd. - The company offers rolling stock solutions such as electrification, passenger stations, and tunnels.
The Europe rolling stock market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
The rolling stock market plays a crucial role in addressing modern transportation challenges, such as energy conservation and air pollution, in Europe and beyond. With innovations in mechanical brakes and the transition towards hydrogen fuel and battery-operated trains, there is a growing focus on eco-friendly transportation solutions. The demand for rolling stocks increases due to urbanization and the expansion of rapid transit systems, including trams and high-speed trains. These advancements aim to reduce road traffic and improve train travel efficiency, offering comfortable travel at high speeds. Technological advancements, such as automotive regenerative braking systems and the use of electricity as an energy source, further emphasize sustainability efforts. The market also provides affordable and reliable solutions for freight transportation through unpowered coaches and freight wagons, supporting a greener environment with electric trains and high-speed trains.
Europe's extensive rail network extends to cost-effective freight solutions and is essential for efficient exports and imports. Original Equipment Manufacturers (OEMs) in Europe contribute significantly to rail transportation efficiency by implementing predictive maintenance solutions and IoT technology for real-time monitoring. Magnetic levitation trains represent technological advancements, providing efficient services. Capital investments are essential for improving rail infrastructure in Europe, focusing on import-export analysis, ensuring seamless connectivity, and enhancing the overall rolling stock market. European and North American rail markets continue to evolve, prioritizing technological innovations and infrastructure improvements to meet the growing demand for efficient and cost-effective transportation solutions. The European rolling stock market experiences strong growth due to the increasing demand for public transportation and the rising number of commuters opting for trains over air and vehicle travel. A growing fleet of rolling stock, including passenger rails, freight trains, and diesel trains, is necessary for efficient exports and import. It is important to note that the North American rolling stock market also undergoes similar advancements, with OEMs implementing IoT and predictive maintenance solutions to optimize rail transportation.
The locomotive fleet requires advanced systems such as propulsion, braking systems, and regenerative braking systems to reduce operating costs and improve affordability. Urban rail systems, including light rail, are being upgraded with lightweight materials and enhanced power systems. The rapid electrification of railways and electric train express projects are reducing reliance on diesel locomotives and high-grade coal, which improves air quality by lowering carbon monoxide emissions and coal dust pollution. Passenger information systems, communication systems, and onboard vehicle control technology are crucial components of modern railway networks, especially for urban rail development and freight transport. Versatility is achieved through the use of electric multiple units and diesel multiple units. Commuter comfort is improved with door systems, heating, ventilation and air conditioning, lighting, and coupler systems. In the U.S., electrification trends are also being driven by the need to lower maintenance costs and boost repair efficiencies. Additionally, rail complements sea freight forwarding by offering fast delivery for large loads, enhancing the overall transportation network.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market Growth 2024-2028 |
USD 3.01 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.11 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., ALSTOM SA, Bombardier Inc., Bozankaya AS, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A., CRRC Corp. Ltd., HeiterBlick GmbH, Hitachi Ltd., Hyundai Motor Co., MODERTRANS POZNAN Sp. z.o.o., PATENTES TALGO S.L.U., PJSC, Proact IT Group AB, Siemens AG, Stadler Rail Ag, The Greenbrier Companies Inc., UWC RPC PJSC, Volkswagen AG, Wabtec Corp., and Trinity Industries Inc. |
Market dynamics |
Parent market analysis, Market trends and analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our Europe rolling stock market 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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