Favorable industrialization milestones across emerging economies such as Brazil, India, and China amongst others, have kindled passenger and freight traffic, compatible to both narrow and broad gauged railway, more emphatically for diesel based locomotives and wagons. Such pronounced adoption pattern is further poised to inculcate bullish growth in rolling stocks market Scope for ample customization such as flexible integration of additional stocks, besides optimum safety are other potential triggers, reinforcing surged preferences for rolling stocks in contrast to ships, automotive, and air freight.
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Rolling stocks market witnessed sales of nearly 250 thousand units in 2018 and is expected to grow at a steady CAGR of 2.9% in 2019. Overall growth of the rolling stocks market can be attributed to,
- Industry titans acquiring big-ticket projects of rolling stocks
- Promotion of railway transport as a sustainable transportation mode
- Growing focus on increasing the average life of rolling stocks by predictive maintenance and remote monitoring in the services landscape
- Optimistic outlook of autonomous trains and ongoing development of compatible rolling stocks
The rolling stocks market report includes a section of the market structure that delivers information regarding the rolling stocks market segmentation. The market structure has been derived after an in-depth study of the rolling stocks market. Based on this, the rolling stocks market is segmented based on product type and application type.
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Rolling Stock Businesses Realign as Manufacturers Procure Big Ticket Projects
A modest outlook has been witnessed in the rolling stocks market in the past decade, in line with significant railway infrastructure investments made by national governments. The report provide the portfolio of top 10 rolling stock manufacturers. As business giants become more engaged in increasing their market share through procurement of big ticket projects, the rolling stocks market continues to witness realignment.
- In December 2018, Bombardier Transportation announced the signing of a rolling stock contract of worth 437 million euros with an undisclosed European customer.
- In June 2018, Siemens was selected by Transport for London (TfL) to supply metro train sets for London Underground’s Piccadilly Line which is TfL’s first rolling stock contract placed under Deep Tube Upgrade Program.
- Alstom also received worth 315 million euro contract by the Mumbai Metro Rail Corporation Limited (MMRCL) for Mumbai Metro Line 3 to supply 248 metro cars in September 2018.
- In addition, the Mumbai Metro Project has initiated contracts with 6 international and Indian rolling stock providers in addition to Alstom. The rolling stock providers include Hyundai Rotem, Korea, CRRC Corporation Ltd., Titagarh wagons & TitagarhFirema, CAF India & CAF, Spain, Bombardier India & Bombardier Germany and Bharat Earth Movers Ltd.
- Hyundai Rotem signed a US$ 62.1 billion contract with Vancouver regional transport authority TransLink. The contract was signed for the supply of 24 metro cars for the driverless Canada Line Project.
Over 5 in 10 Rolling Stocks Found Utilization in Freight Application
Based on application, rolling stock utilization in freight application remains higher as compared to passenger application. Fact.MR shows that over 5 in 10 rolling stocks were used in freight application in 2018. As freight application of rolling stocks significantly contributes to the enhancement of economic performance and meet logistic demands, the future status quo of freight application is expected to remain steady in the coming years.
Fact.MR study finds that APEJ continues to spearhead the global rolling stock sales and registered over 36% of the global demand in 2018 and the status-quo is expected to continue in 2018 at the growth rate of 3.3%. Emerging economies in the region are actively engaged in the development of railway infrastructure, thereby presenting lucrative opportunities for manufacturers in the coming years.
Competition remains intense in the rolling stocks market, with CRRC Corporation at the forefront, which continues to face a fierce competition from Bombardier and GE. Additionally, J-TREC. Alstom, Siemens, Kawasaki Heavy Industries and PESA are other leading contenders who are engaged in product innovation and expansion of their product portfolio.
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