Rolling Stock Market in North America size is set to grow by USD 1.69 bn from 2024-2028, increased demand for freight wagons to boost the market growth, Technavio

NEW YORK, May 20, 2024 /PRNewswire/ -- The global rolling stock market in north america  size is estimated to grow by USD 1.69 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.71%  during the forecast period. 

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Segment Overview 

This rolling stock market in North America report extensively covers market segmentation by

1. Product 
• 1.1 Rapid transit vehicles
• 1.2 Railroad cars
• 1.3 Locomotives
2. Type 
• 2.1 Rail freight
• 2.2 Rail passenger
3. Geography 
• 3.1 North America

1.1 Rapid transit vehicles-  In the North American Rolling Stock Market, product segmentation encompasses various rail vehicles such as tank wagons and those designed for passenger transportation, including metro trains, light rail transit vehicles, trams, sleeper coaches, double-decker trains, and chair cars. The growth of this market segment is propelled by several factors. Population expansion in urban areas necessitates the development and enhancement of transportation infrastructure and network infrastructure. Inadequate infrastructure in major metropolitan cities, coupled with rising concerns over air quality, gasoline prices, and traffic congestion, have led governments to focus on improving public transportation systems. As a result, there is a significant push towards the adoption of greener technologies, such as electric locomotives, EMUs, and Diesel Multiple Units (DMUs), to reduce greenhouse gas emissions and the carbon footprint of transportation. Rolling stock refurbishment and fleet expansion are also key areas of investment to address passenger demand and reliability issues. Train energy efficiency is a critical consideration in the modernization of vehicles to cater to the increasing demand for sustainable transportation solutions. The market is expected to witness substantial growth as countries in North America invest in urban transit systems to increase local and regional connectivity and improve economic activity.

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Key Market Trends Fueling Growth

In North America, the rolling stock market encompasses various modes of rail transportation, including electric locomotives, EMUs (Electric Multiple Units), diesel locomotives, and DMUs (Diesel Multiple Units). This sector focuses on fleet expansion, rolling stock refurbishment, and modernizing vehicles for both freight and passenger services. Government agencies and private entities invest in railway infrastructure and technology advancements, such as computer vision and artificial intelligence, to enhance train energy efficiency and reliability. Rolling stock OEMs and rail operators play crucial roles in this market, addressing rising concerns for carbon footprint reduction and the shift towards alternative energy sources, like electricity, to promote a greener environment. 

Market Challenges

•         The North American rolling stock market is capital-intensive, requiring substantial upfront investments in raw materials like iron, electrical equipment, and machinery for manufacturing trains and wagons. Long-term contracts with government agencies and private entities for passenger and freight services involve significant capital costs. Technological advancements in computer vision, artificial intelligence, Wi-Fi, IoT, and big data analytics are transforming the industry, while safety and environmental regulations pose challenges. Infrastructure inadequacies, traffic congestion, and urbanization pressures in major metropolitan areas drive demand for rail transportation, competing with road and air transportation.

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Research Analysis

The Rolling Stock Market in North America is a significant sector within the transportation industry, encompassing various types of railway vehicles such as locomotives, freight wagons, and rapid transit vehicles. This market is driven by the demands of both government agencies and private entities for efficient and advanced railway networks. The integration of technology, including computer vision and artificial intelligence, is transforming the industry, enabling the development of low-floor trains equipped with Wi-Fi and other modern amenities. The increasing population in urban areas and the need for improved transportation infrastructure, including network infrastructure, further fuel the market's growth. However, inadequate infrastructure in some areas and concerns over air quality in major metropolitan cities present challenges for market expansion. Rolling stock OEMs and rail operators continue to innovate, addressing these challenges and meeting the evolving needs of the railway sector.

Market Research Overview

The Rolling Stock Market in North America is a significant sector that focuses on the production, maintenance, and sale of rail vehicles and related components. Rolling stock includes locomotives, passenger coaches, freight cars, and maintenance-of-way equipment. The market is driven by factors such as increasing freight and passenger traffic, modernization of existing fleets, and government investments in infrastructure projects. Technological advancements, including the integration of IoT and automation, are also transforming the industry. Additionally, the growing demand for sustainable transportation solutions is leading to the adoption of electric and hybrid rolling stock. The market is expected to grow steadily in the coming years due to these factors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Rapid Transit Vehicles
• Railroad Cars
• Locomotives
• Type
• Rail Freight
• Rail Passenger
• Geography
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio