The future of the securities market by 2025
Rolling stock market by product type (locomotive, rapid transit, railcar and coach), locomotive technology (conventional, turbocharged and maglev), application (passenger and freight) and region
The Global Securities market is estimated at $ 51.6 billion in 2020 and is expected to reach $ 64.3 billion by 2025, with a CAGR of 4.5% from 2020 to 2025.
Growing urbanization and increasing demand for passenger and freight transportation have led to the growth of the rolling stock market across the world. The growing demand for public transport as a means of mass transportation and the increasing demand from developing countries are expected to provide lucrative opportunities for the industrial counterweights market during the forecast period.
There has been a rapid increase in the number of technological advancements in the rolling stock market. This can be mainly attributed to the increasing demand for features that ensure the convenience and safety of passengers. Likewise, rolling stock is being innovated and new vehicle concepts are being developed for non-electrified rail lines to further reduce carbon emissions. For example, rolling stock manufacturers are experimenting with emission-free trains fitted with fuel cell drives.
The main players taken into account in the analysis of the rolling stock market are CRRC (China), Alstom (France), Siemens (Germany), Bombardier (Canada), General Electric (United States), Hyundai Rotem (South Korea) ), Kawasaki Heavy Industries (Japan) and Stadler (Switzerland).
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The electrodiesel locomotive is estimated to be the fastest growing segment, by type, of the rolling stock market. This can be attributed to the growing global electrification of rail tracks. As electric traction for railways has proven to be the most energy efficient operation, the electrification of railways is expected to grow exponentially in the years to come. Thus, the development of the railway industry and the expansion of electrified railways would act as a catalyst for the growth of the rolling stock market. Europe is expected to dominate the market for electro-diesel locomotives. The Europe and Asia Oceania regions are focusing on the development of electrified tracks. However, 100% electrification of railways takes a lot of time and capital. By the end of the electrification of the tracks, there is expected to be a strong demand for electrodiesel locomotives, especially in the European region.
The conventional locomotives market is expected to grow at the highest CAGR from 2020 to 2025 and holds the largest market share of the rolling stock market. The main advantage of turbocharged locomotives is that they give more power without increasing fuel costs. Countries like China, Japan, Germany, UK, France and Canada are rigorously focusing on improving rail transport to reduce increasing pressure on roads and airways. Thus, increased investments have been made by governments for the development of electric rail infrastructure, which will stimulate the market for conventional electric and electro-diesel locomotives. The report segments the rolling stock market, by product type, into locomotives, rapid transit, rail cars, coaches, and others. Railcars segment is expected to have the highest market share during the forecast period. Locomotives are used to transport passenger and freight wagons for transportation on main lines. The growing demand for freight transportation has boosted the global demand for locomotives. Coaches are used for the transport of passengers. A number of coaches can be assembled with trains using couplers.
The rolling stock market, by application, is segmented into passenger transportation and freight transportation. By application, freight transportation segmentation is expected to have the highest market share during the forecast period. The growing need for efficient transportation of industrial and commercial goods is driving the growth of the rolling stock market for the transportation of goods. In 2020, Spain announced the doubling of freight transport from 9% 2020 to 18% by 2030.
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The freight railcar market is estimated to be the fastest growing segment, by application, in the rolling stock market. This can be attributed to bespoke and technologically advanced railcars such as chemical and pressure tank cars and low profile car and container cars. The demand for freight railcars is high in the United States, China and Russia due to replacement demand and the growth of the manufacturing sector in these countries. The increase in mining activities in emerging economies is expected to have a positive impact on the freight transport market. For example, in 2019-2020, more than 1,210 million tonnes of freight were transported to India by railways. The growth in freight transportation is expected to propel the growth of freight cars and locomotives accordingly.
The rolling stock market is expected to grow at the fastest pace in emerging economies such as Egypt, United Arab Emirates, India and China. The Middle East and Africa region is estimated to be the fastest growing market for rolling stock, followed by Asia Oceania. The demand for rail vehicles in this region is triggered by the growing population of urban areas, where the existing transport infrastructure is insufficient. The expansion of this network is expected to stimulate demand for new vehicles. Many companies such as CRRC, Bombardier and Alstom are expanding their presence and product offerings in a market with strong growth potential to gain ground in the rolling stock market.
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