Metro Railway is fastest-growing segment in the global rolling stock market

MRT Online Desk Posted on: 2023-05-04 07:15:00 Viewer: 1,836 Comments: 0 Country: India City: New Delhi

Metro Railway is fastest-growing segment in the global rolling stock market

Increasing urbanization and investments for the development of urban transit systems by governments are the key drivers for the growth of rapid transit systems globally. Subways/metros are urban transits used for intracity travel with limited passenger capacity. These trains operate at much greater frequencies and at higher average speeds than light rail/tram systems. This makes them highly efficient, as the system is free from road traffic interference. Metro trains are functional in countries such as India, the US, the UK, Germany, Brazil, South Africa, Australia and France. China, with the largest metro track, in terms of length, is considered the largest metro market globally. Thereby, the subways/metros are expected to witness the fastest growth in the coming years globally.

As per a market research report published by M&M Inc, the global rolling stock market size is projected to grow from USD 53.8 billion in 2023 to USD 64.8 billion by 2027, at a CAGR of 3.8%. Passenger coaches are expected to witness the fastest growth in the passenger transportation segment of global rolling stock market during the forecast period.

Rising demand for energy-efficient & green transportation has increased the electrification rate of railway networks globally. Moreover, growing traffic congestion, increasing population, rapid urbanization have further increased the demand for efficient intra-city transportation globally.

The availability of robust infrastructure for both, urban and intercity transport for mass transit in various countries especially in Asian countries is the major factor driving the adoption of railways for passenger transportation. Globally, there has been an increase in the ridership of passenger trains which is likely to propel the demand for passenger coaches globally. Apart from this, passengers prefer railway transportation to cover remote distances as well, owing to the wide connectivity of railway networks. Therefore, the demand for passenger coaches is growing at a steady pace globally. Urbanization is also another major driver for the growth of passenger transportation by railways. According to the World Health Organization (WHO), in 2020, the urban population is projected to account for 60% of the global population by 2030. Hence, increasing urbanization is expected to further boost the market for passenger transportation in the coming years. Therefore, the demand for passenger coaches are likely grow at a fastest rate in passenger transportation segment during the forecast period globally.

At present, CRRC Corporation Limited (China), Alstom SA (France), Siemens AG (Germany), Wabtec Corporation (US), Hyundai Rotem Company (South Korea), Construcciones y Auxiliar de Ferrocarriles S.A. (Spain), CJSC Transmashholding (Russia), Stadler Rail AG (Sitzerland), Hitachi Rail Limited (Italy) are some of leading players in the Global Rolling Stock Market.

  




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