CHICAGO, October 22, 2018 /PRNewswire/ --
According to the new market research report "Rolling Stock Market by Product Type (Locomotives, Rapid Transit (DMU, EMU, Light Rail, Metro) Wagons, Coaches), Locomotive Propulsion (Diesel and Electric), Application (Passenger & Freight), Components, Technology & Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Rolling Stock Market is estimated to be USD 54.43 billion in 2018 and is projected to grow to USD 73.80 billion by 2025, at a CAGR of 4.44% during the forecast period. The growing demand for public transport and increasing need for energy efficient transport are some of the key drivers fueling the growth of this market.
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Turbocharged locomotive segment to hold the largest share in the Rolling Stock Market, by locomotive technology
The turbocharged locomotive market is estimated to be the largest in the Rolling Stock Market. The primary advantage of the turbocharged locomotive is that it gives more power with no increase in fuel costs. Major OEMs such as ABB have modernized turbochargers in locomotives to meet technical, environmental and cost requirements of the Rolling Stock Market. In heavy hauling, more powerful units are being used to increase track capacities. This is increasing the demand for turbochargers and turbocharged locomotives.
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Freight Transportation: A promising market due to the resurgence of mining activities and increasing industrial transportation
The demand for freight wagons is high in the US, China, and Russia. This is because of increasing replacement of old fleets and growth of the manufacturing sector in these countries. Custom-made and technologically advanced wagons, such as chemical and pressure tank wagons and car-carrier and low-loader container-carrying wagons, are manufactured in Western Europe and other developed regions. The increased mining activities in emerging economies are expected to impact the market for freight transportation positively. The growth of freight transportation is expected to propel the growth of freight wagons and locomotives consequently.
Asia Oceania: Largest market for rolling stock
The Asia Oceania Rolling Stock Market is estimated to be the largest, in terms of value, in 2018. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transportation infrastructure is insufficient. The expansion of this network is expected to drive the demand for new vehicles.
The European Rolling Stock Market is estimated to be the second largest, by value, in 2018. The European Union represents the biggest absolute market for rail products and services, with the rolling stock segment representing the largest part of this market. The European region is segmented into Germany, France, the UK, and Italy. The North American Rolling Stock Market is estimated to be the third largest in 2018.
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The report analyzes all major players in the Rolling Stock Market including CRRC (China), Siemens (Germany), Bombardier (Canada), Alstom (France), and General Electric Company (US).
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