Global Rolling Stock Market: 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.

Published Date: 10/05/2021

The rolling stock market was valued at USD 56,716.9 million in 2020 and is estimated to grow with USD 75716.85 million in 2027 significantly with a CAGR of 4.2% over the forecast period. Rolling stock means any vehicle that runs on a rail track. Electric locomotives as the name suggests run on electric power from fuel cell or battery or overhead lines. Diesel locomotives are run by diesel engine. The various types of diesel locomotives are diesel-pneumatic, diesel-steam, diesel-hydraulic, diesel-electric, and diesel-mechanical. High-speed are intercity trains moving at an average speed of 200 to 300+ km/h. Electric multiple unit (EMU) is a multiple unit train which is run by a self-propelled carriage using electric power.

Diesel multiple units (DMUs) like EMUs is a multiple unit train run by on-board diesel engines. They can be diesel-electric (DEMU), diesel-hydraulic (DHMU) and diesel-mechanical (DHMU). Generally, EMUs and DMUs are used as passenger trains. Metros are mostly found in urban cities and are mass rapid transit trains. They are usually made of stainless steel or aluminium with automatic train supervision system (ATS) and automatic train protection system (ATP).

Light rail vehicles (LRVs) or tram/ tramcar/ streetcar/trolley/ trolley car is a rail vehicle running on urban streets on tracks. Rolling stocks can be normal conventional locomotives or turbocharger locomotives. Rolling stocks also use maglev technology to move. Maglev is derived from magnetic levitation. Magnetic levitation is the process of suspending objects with no support other than a magnetic field. This is possible because magnetic forces act in opposite direction to earth’s gravitational force.

Globally, there has been a rapid increase in industrial activity. Industries need transportation networks to move raw materials and finished goods efficiently. Freight transportation by rail has proved to be more cost-effective and reliable compared with roads. Increased mining activity in emerging economies is also expected to positively impact the market for freight transportation, which, in turn, would propel the growth of freight wagons and locomotives. Additionally, mineral-rich countries are expected to expand their rail network to enhance connectivity.
Rolling stock needs to be periodically overhauled to ensure its reliability. However, regular maintenance and overhaul of rolling stock are highly expensive. For instance, the annual maintenance cost of a high-speed trainset is approximately USD 1 million. In addition to the cost of components that need to be replaced regularly, there is also a need for proper maintenance of infrastructures such as depots and berthing sites. Furthermore, rolling stock requires long-term maintenance when the train has reached half its operational life. This includes maintenance work on electrical, mechanical, and hydraulic parts of the vehicle. A large investment is needed for such maintenance.

The major firms operating in the rolling stocks market are Stadler Rail AG (Switzerland), CRRC Corporation Limited (China), Bombardier Inc. (Canada), Alstom SA (France), General Electric (the U.S), Siemens AG (Germany), CJSC Transmashholding (Russia), Kawasaki Heavy Industries Ltd. (Japan), Construcciones Y Auxiliar DE Ferrocarriles S.A. (Spain), and Hyundai Rotem Company (South Korea).