Rolling Stock Market in Europe to grow by USD 3.01 billion between 2024-2028
According to a research report “ Rolling Stock Market in Europe” by Application (Freight transportation, Passenger transportation) Product (Freight car, Passenger transit vehicle, Locomotive) Geography (Europe)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3.01 billion at a CAGR of 3.27% during the forecast period. The European rolling stock market is poised for significant growth, fueled by substantial investments in railway line projects and network expansions. With numerous national and transnational railway initiatives underway in the region, there is a surging demand for innovative locomotives and railroad vehicles. High-speed railways, in particular, are attracting substantial capital due to their economic viability for long-distance travel. Major European economies, including Germany, the UK, and France, are committing billions of dollars towards enhancing domestic and international connectivity and logistics infrastructure..
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By Application, the Freight transportation segment is projected to dominate the market size in 2024.
In Europe's rolling stock market, freight cars are a significant segment. These unpowered rail vehicles facilitate the mass transportation of goods and raw materials, offering cost savings compared to road transport. Varieties of freight cars exist, such as boxcars, open wagons, refrigerated cars, hoppers, mineral wagons, tank cars, and flatcars. Customized options are also available. However, market growth is projected to be sluggish due to minimal replacement demand and limited investment in new freight trains and rail infrastructure during the forecast period.
By Product, Freight car segment is expected to hold the largest market size for the year 2024.
In Europe's rolling stock market, freight transportation held the largest market share in 2023. This sector's growth is attributed to the surge in industrial and cross-border trade activities, leading to an anticipated increase in demand for rail freight during the forecast period. Notable contributors to this trend are Germany, Poland, and France. Infrastructure development investments and the expansion of the Asia-Europe rail network further fuel market expansion.
Europe is forecasted to hold the largest market size by region in 2024.
In Western Europe, the rolling stock market holds a significant market share and is projected to experience robust growth. This is primarily due to the presence of robust economies, including Germany, the UK, France, and Italy, which have fostered the expansion and advancement of the railway sector. Notable investments in public transportation infrastructure, particularly in short-distance passenger rail projects such as trams, urban transit systems, and metro rail, are anticipated to stimulate demand for rail-based transport solutions, thereby fueling the need for rolling stock within the European railway industry.
The Rolling Stock Market in Europe t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Rolling Stock Market in Europe is a significant sector, encompassing various types of vehicles, including car bodies for passenger cars and wagons for freight transport. This market also includes the production of trains, both powered by electricity from railway electrification and unpowered. The demand for dependable and fuel-efficient rolling stock is on the rise due to the greener environment agenda, urban transit systems, and public transportation needs. European railways are focusing on reducing greenhouse gas emissions and mitigating traffic congestion and high gasoline prices by investing in lightweight components and electricity-powered rolling stock, such as electric locomotives. The market is also influenced by the inadequate infrastructure and rising carbon emissions, leading to a growing need for innovation and technological advancements in the rolling stock industry. The European rolling stock market is a dynamic and evolving sector, driven by the increasing demand for sustainable and efficient transportation solutions. Companies specializing in this field are continually developing new technologies and designs to meet the demands of the market and contribute to a more sustainable future for transportation.
Market Research Overview
In the European rolling stock market, there is a significant focus on sustainable and efficient transportation solutions. Key players are investing in the development of high-speed trains, electric multiple units, and light rail systems to reduce air pollution and greenhouse gas emissions. Freight transport via sea freight and railways is also prioritized for its lower carbon footprint compared to road traffic. The demand for robust rolling stock is increasing due to rapid urbanization and inadequate infrastructure. This includes both passenger carriages and freight wagons. Progress Rail and other manufacturers are responding with innovations such as regenerative braking systems, electrification of trains, and the use of lightweight materials. Electric locomotives and trains are becoming increasingly popular due to their fuel efficiency and dependability. The market is also seeing an increase in the adoption of battery-operated rolling stock and hydrogen fuel as alternative energy sources. Maintenance costs and running costs are crucial considerations in the rolling stock market. Advanced technologies such as on-board vehicle control, communication systems, and passenger information systems are being integrated to improve efficiency and reduce downtime. The European rolling stock market is expected to grow as commuters seek comfortable travel at affordable prices, and as governments and businesses look to reduce their carbon footprint and traffic congestion. The market is also driven by exports and imports, as well as the need for reliable and efficient locomotive fleets for various types of trains, including freight trains and passenger rails.
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