Top 10 Events and Trends in the Global Rolling Stock Market of 2023

Vinod Shah Posted on: 2024-03-19 09:00:00 Viewer: 546 Comments: 0 Country: India City: New Delhi

Top 10 Events and Trends in the Global Rolling Stock Market of 2023

The year 2023 witnessed significant developments and trends shaping the global rolling stock market, reflecting ongoing innovation and evolution in rail transportation. From advancements in technology to major contract signings and sustainability initiatives, the industry experienced notable shifts and achievements. Here, we highlight the top 10 events and trends that defined the landscape of the rolling stock market in 2023.

#1 Rising Demand for Freight Car Telematics

The year 2023 witnessed a surge in demand for on-board sensors catering to freight cars' operational monitoring. This led to the introduction of paid digital services by various global players, facilitating real-time monitoring of freight car parameters. Notably, companies like Amsted Rail and Nexxiot saw substantial growth in demand for their telematics devices, signaling a significant shift towards digitalization in the freight rail sector.

#2 Siemens and TMH Secure Major Contracts in India

The Indian rolling stock market continued to exhibit robust growth, with Siemens Mobility securing a significant contract for the supply of mainline electric freight locomotives to Indian Railways. Additionally, TMH entered the market with a contract for the supply and maintenance of Vande Bharat EMUs, marking its debut in India's rail sector. These contracts underscored India's commitment to bolstering domestic production and technology transfer under the Make in India initiative.

#3 China Develops High-Speed Train with 450 km/h Design Speed

China Railway's successful performance tests of components for the CR450 train marked a significant milestone in high-speed rail development. With a design speed of 450 km/h, the CR450 train showcased advanced technologies, including eddy current brakes and permanent magnet traction systems. This development reaffirmed China's position as a global leader in high-speed rail innovation.

#4 Denmark's Unmanned EMU Tender

Denmark's DSB initiated a major tender for unmanned EMUs, signaling a significant shift towards automation in rail transit. The tender attracted global players like Alstom, CAF, and Siemens Mobility-Stadler consortium, highlighting the growing demand for advanced automation technologies in urban rail systems.

#5 Alstom's Performance Post-Bombardier Acquisition

Following the acquisition of Bombardier Transportation, Alstom faced challenges in production and integration, leading to poor financial performance in FY23/24. The company unveiled a strategic plan to optimize acquired assets and enhance operational efficiency, emphasizing the need for restructuring and cost-cutting measures.

#6 Stadler's Continued Market Share Growth

Stadler maintained its positive performance trajectory, achieving record backlog and securing major contracts globally. Notable contracts included the delivery of passenger coaches to Kazakhstan and long-distance trains to Norway, reaffirming Stadler's position as a key player in the global rolling stock market.

#7 Titagarh Rail Systems Expands Presence in Europe

Titagarh Rail Systems expanded its presence in Europe, securing contracts for freight cars and passenger coaches in Italy. The company's strategic partnerships and investments underscored its commitment to global expansion and innovation in rail transit.

#8 Remote Control Testing of Lastochka EMUs

Russian Railways conducted remote control testing of Lastochka EMUs on the Moscow Central Circle, demonstrating advancements in automated train operation technologies. The successful testing paved the way for enhanced safety and efficiency in rail transit systems.

#9 CRRC's Innovations in Alternative Traction Locomotives

CRRC continued its focus on developing locomotives with alternative traction, including battery-powered and hydrogen-fueled models. These innovations reflected the company's commitment to sustainability and reducing carbon emissions in rail transportation.

#10 Hitachi Rail's Social Impact Reporting Initiative

Hitachi Rail introduced Social Product Declarations (SPD) for its rolling stock, aiming to assess and report the social impact of its products throughout their lifecycle. This initiative highlighted Hitachi's commitment to sustainability and corporate social responsibility in rail transit.

In conclusion, the events and trends of 2023 highlight the dynamic nature of the global rolling stock market, with advancements in technology, strategic contract signings, and a growing emphasis on sustainability shaping the future of rail transportation worldwide.

  




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