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Rolling Stock Market Size
- Report ID: GMI6476
- Published Date: Aug 2023
- Report Format: PDF
Rolling Stock Market Size
Rolling Stock Market size was valued at USD 53.6 billion in 2022 and is anticipated to grow at a CAGR of over 3.5% between 2023 and 2032, attributed to the aging fleet replacement worldwide. Many existing fleets have surpassed their intended lifespan and require upgrading. These concerns have escalated the need to replace aging rolling stock with modern, safer, and more efficient vehicles.
To that end, in January 2023, Amtrak, a US-based passenger railway company, started replacing railcars on 14 overnight routes with new ones. The company has already received proposals for the new railcars, which will operate on a variety of routes, including Auto Train, California Zephyr, and Coast Starlight, from at least ten different builders.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Rolling Stock Market Size in 2022: | USD 53.6 Billion |
| Forecast Period: | 2022 to 2032 |
| Forecast Period 2022 to 2032 CAGR: | 3.5% |
| 2032 Value Projection: | USD 77.7 Billion |
| Historical Data for: | 2018 - 2022 |
| No. of Pages: | 311 |
| Tables, Charts & Figures: | 435 |
| Segments covered: | Type, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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In addition, the rolling stock market is experiencing dynamic growth driven by the increasing adoption of advanced technologies such as railway telematics and enhanced railway management systems. These innovations are revolutionizing the industry by providing real-time data insights, predictive maintenance capabilities, and improved operational efficiency. Railway telematics enables continuous monitoring and analysis of rolling stock performance, facilitating proactive maintenance and minimizing downtime.
The rolling stock market is capital-intensive, requiring significant investments in manufacturing facilities, research and development, and technology upgrades. This high upfront cost can be a barrier for new entrants and smaller companies looking to enter or expand in the market.
Besides, the market is subject to stringent safety, environmental, and technical regulations imposed by various governmental and international bodies. Compliance with these regulations can be complex and time-consuming, leading to delays and additional costs for rolling stock manufacturers. However, passenger preference for rail travel due to its safety, reliability, and reduced travel times compared to road transportation can drive investments in rolling stock, driving the market expansion.
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Rolling Stock Market Scope
