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The rise of regional airlines has created challenges, but public transportation, efficient engines and freight trains have fueled optimism.
Newark, Delaware, United States, September 19, 2023 /EINPresswire.com/ — The global railway rolling stock market is expected to flourish at a CAGR of 4.1% throughout the forecast period. The market size is expected to be approximately US$61.5048 billion in 2023. By the end of the forecast period, the total supply of these products in the international market will reach approximately US$91.9213 billion.
According to historical analysis by Future Market Insights, the compound annual growth rate of global railway rolling stock demand will be 2.3% from 2018 to 2022. In addition, by the end of 2022, the overall market valuation will reach US$58.8 billion.
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Unlocking the Future of Railways Explore the Dynamic Growth of the Railway Rolling Stock Market
Recent developments in the railway industry, such as the use of high-end railcars, have significantly changed the direction of the market. In order to increase profits, major market players are also focusing on the sales and manufacturing of special railway rolling stock. In addition, the popularity of online trade channels under the influence of the epidemic has accelerated the development of the global railway rolling stock market in recent years.
Recent campaigns have emphasized reducing the use of fossil fuels and introducing more modern energy sources. These cutting-edge resources have had a considerable impact on the industry. Many market players have launched rolling stock with hydrogen fuel cell capabilities.
Developments are currently underway for rooftop solar panel installations which are expected to effectively meet the energy needs of rolling stock units. Furthermore, increased external investment in the project is expected to have a significant impact on currently emerging trends in rolling stock.
The development of various other modes of transportation such as regional airlines is expected to restrain market expansion overall. In addition, the increased use of conveyor pipelines for transporting raw materials has also reduced the need for train vehicles in the logistics industry.
As the logistics industry uses pipelines more frequently to transport raw materials, demand for rolling stock has decreased. Comprehensive adoption of regenerative braking technology on all rolling stock further reduces competition in this market.
Market players with large amounts of capital and real technology know how to beat their opponents. One of the major factors influencing the expansion of the studied markets is the encouragement given by the respective governments to regional players.
The growing focus on public transportation systems is expected to provide huge opportunities to new entrants in the market. In addition, federal assistance to many emerging economies to strengthen the supply of domestic rail assets has spurred multiple industries to enter the market.
For the sake of overall economic growth, governments around the world have invested excessive amounts of money in infrastructure construction. Furthermore, this trend has especially intensified in recent years. This trend indirectly benefits the transportation industry, including the railway rolling stock industry. Further focused upgrades of the existing rail sector are expected to enable companies to research and adopt new business models.
Key players profiled in the Railway Rolling Stock market report:
CRRC Corporation Limited
IHI Co., Ltd.
Tatra Voganka AS
Poprad, Westinghouse Technology Company
Kawasaki Heavy Industries Co., Ltd.
Kinki Industry Co., Ltd.
PESA Bydgoszcz SA
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Diesel locomotive (DMU)
Electric locomotive (EMU)
Electric diesel locomotive
Tram or light rail
subway or subway
By end user:
Goods or freight transit
Nandini Roy Choudhury (Food & Beverage Client Partner, Future Market Insights, Inc.) has over 7 years of management consulting experience. She advises industry leaders and explores a dizzying array of opportunities and challenges. She develops processes and operating models to support their business goals.
She has excellent analytical skills and often brings thought leadership.
Nandini has extensive expertise in key areas including but not limited to food ingredients, nutrition and health solutions, animal nutrition and marine nutrients. She is also well-versed in the pharmaceutical, biotech, retail and chemical sectors, advising market players on approaches and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisition and post-merger integration, and cost reduction. Nandini holds an MBA in Finance from the MIT Business School. She also holds a bachelor’s degree in electrical engineering from Nagpur University, India.
Nandini has authored several publications and has been cited in journals such as Beverage Industry, Bloomberg and Wine Industry Advisor.
More insights into the Railway Rolling Stock Market:
According to market analysis, the United States is expected to dominate the global railway rolling stock market due to leading production and advancement in North America. The country is expected to remain a prime location for the introduction of any kind of advancement in the rolling stock industry.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, member of the Greater New York Chamber of Commerce) provides deep insights into the drivers driving market demand. FMI is a leading global provider of market intelligence, consulting services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemicals markets. FMI has a large team of more than 5,000 analysts worldwide, providing global, regional and local expertise on diverse sectors and industry trends in more than 110 countries.
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