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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. Several factors play a crucial role in the market's growth, such as investments in new railway projects, growing investments in urban rail transit and rising urbanization, and the emerging PPP model.
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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.
Growing investments in urban rail transit are notably driving market growth. The growing focus on easing congestion in cities and urban areas and the need for efficient public urban transportation systems are encouraging various governments to invest in urban rail transit systems. Urban rail transit systems are short-length passenger rail systems that are used for transportation within urban or suburban regions. Urban rail transit may include systems such as trams, light rails, rapid transit rails, monorails, and commuter rails, which are used mainly for intra-city transport. Countries in Europe, such as Germany, France, and the UK, have been building urban rail transit systems in major cities to support domestic investment-led growth, counter pollution levels, and discourage the use of 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, are playing a pivotal role in reshaping and optimizing the efficiency of rail networks, especially over bulky distances in Europe.
Innovations in locomotive manufacturing are an emerging trend shaping market growth. The kinetic energy recovery system has been the focus of substantial study in the R&D divisions of all established rolling stock manufacturers. The locomotive expends a significant amount of energy while stopping and starting. A system should be developed to collect this energy and store it for locomotive use when an engineering demand arises. Moreover, this kinetic energy recovery system also helps the locomotive to transport heavy weight through hilly areas without the use of high horsepower engines. In addition, the new locomotive engines are manufactured with reduced pollution levels.
Moreover, the new air-to-air heat exchanger helps to reduce engine oil operating temperatures, which, on the other hand, helps reduce emissions. This heat exchanger eliminates the use of chemical coolants and reduces toxic spills. The advanced fuel injection technology helps to lessen fuel consumption, which also reduces pollution. Moreover, the diesel particulate filter and electronic engine control support efficient combustion and reduce emissions. Thus, the innovations in locomotive manufacturing will offer new opportunities in the market during the forecast period.
Delays in railway project development and execution are a significant challenge hindering market growth. Railway projects in Europe face challenges, causing delays in implementation and completion and impacting the rolling stock market. Large-scale projects become economic burdens, often experiencing uncertainties and delays due to funding issues and economic environments. Rail operators struggle with operational efficiency, safety, and budget constraints, leading to volatility in industry investments. Notable projects, like Germany's Stuttgart 21, witnessed significant delays and cost overruns.
Similarly, expansions in the UK and the Netherlands faced extended delays and substantial cost increases. Such planning faults and project execution delays have cascading effects, affecting annual demand orders and project financing. To foster market growth, governments, and stakeholders must streamline processes and mitigate delays, reducing red tape and promoting efficient project execution in the market during the forecast period.
The market forecasting 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 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 station, and tunnels.
The 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 freight transportation segment is estimated to witness significant growth during the forecast period. The demand for freight transportation via the railways 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 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 forecast period.
The 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.
The Rolling Stock Market in Europe showcases diverse technologies, from conventional locomotives to innovative Maglev trains. With cost-effective modes, like turbocharged and conventional locomotives, it efficiently serves commuters and transports bulky goods. The market emphasizes public transportation, addressing urban population needs and industrial mining activities through rapid trams, local passenger trains, and fast metro trains. European Union (EU) initiatives under the EU Commission prioritize technological innovations, including Big Data, IoT, and analytics. Original Equipment Manufacturers (OEMs) and suppliers play a crucial role in streamlining operations with digital solutions, real-time monitoring, and predictive maintenance. Magnetic levitation trains and advancements in signaling, communications, and on-board passenger experience contribute to the rolling stock market's evolution. Upgradation of railway infrastructure, research activities, and trade regulations further enhance the market's robustness.
In addition, with an extensive rail network, Europe emphasizes powered coaches, unpowered coaches, and freight wagons, providing cost-effective transportation solutions for passengers and bulky goods. Original Equipment Manufacturers (OEMs) contribute to predictive maintenance solutions, leveraging IoT for real-time monitoring. Magnetic levitation trains exemplify technological advancements, catering to efficient services. Capital investments drive initiatives for improved rail infrastructure, emphasizing import-export analysis, ensuring seamless connectivity, and enhancing the overall rolling stock market in Europe.
Europe Rolling Stock 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 |
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