Governments are supporting electric vehicle charging stations through subsidies & tax rebates for installing electric vehicle charging stations and working in collaboration with such OEM’s to speed up growth of their countries EV charging networks.
New York, March 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rolling Stock Market by Product Type, Locomotive Technology, Application & Region – Global Trends and Forecast to 2025" - https://www.reportlinker.com/p04031784/?utm_source=GNW
Increase in demand for electric locomotives and multiple units with government and rail operators support for increase in investment in electrified rail route will boost rolling stock market.Also, with rise in fuel prices, alternate mode of transportation becomes very costly.
Thus, with rise in electrified network, operating cost would be low, which would make mass transportation cheaper as compared to alternate mode of transportation. To make the rolling stock market grow, a continued support from the government is required by making investment in rail infrastructure and by investment for expansion of rail projects.
However, COVID-19 pandemic is expected to have a slight impact on the rolling stock market.Both the production and sales of new rail vehicles had come to a halt in Q1 and Q2 of 2020 across the globe as the whole ecosystem had been disrupted.
However, in the next two quarters, the sale of rolling stock has been on the rise specially for electric locomotive and electric multiple units.OEMs had to wait until lockdowns were lifted to resume production, which affected their business.
Post the pandemic, the demand for mass transportation would increase, as people would return to their work place, and use public transportation. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues.
Infrastructural development and demand for energy efficient vehicles likely to drive the rolling stock market
The growth of this market is fueled by the infrastructural development in the region and approval of new rail lines.However, refurbishment of existing rolling stock and capital-intensive nature of rolling stock is inhibiting the growth of the rolling stock market.
Innovations in rolling stock and the development of new vehicle concepts for non-electrified railway lines are expected to further reduce carbon emissions.For example, rolling stock manufacturers are undertaking efforts to develop emission-free trains equipped with fuel cell drives.
Significant investments are being made by various governments and manufacturers to develop the fuel cell train technology.For instance, in 2018, Siemens received approval for approximately USD 14 million form the Federal Ministry for Transport & Digital Infrastructure (Germany) for research & development in the field of fuel cell rails.
The fuel cell technology is expected to be ready for service by 2021. Rolling stock such as electric locomotives and EMUs are expected to further lower greenhouse emissions and increase energy efficiency
High-speed rail project to drive the Asia Oceania rolling stock market
The Asia Oceania rolling stock market is expected to be the largest, by value, in 2020.This can be mainly attributed to the demand for high-speed rail projects and dedicated freight corridors via rail transport system in the region.
The Asia Oceania region is the fastest-growing market due to increased production, domestic demand, and capacity expansions by rolling stock manufacturers.This increase in production helps cope with the rising demand for rail transportation and concerns related to fuel-efficiency norms and regulations.
In addition to domestic markets, there is an increase in demand from international markets. In January 2020, CRRC received an overseas supply contract worth USD 55.5 from Portugal to supply 18 new light rails with a maintenance period of five years. Thus, demand in the Asia Oceania region is on the rise.
Technological advancements are a key driver for the EMU market
There has been a rapid increase in the number of technological advancements in the rolling stock market.The EMU segment is estimated to hold the largest market share, in terms of value, in 2020.
This can be credited to the latest generation of EMUs, which are characterized by modular designs.An advanced electric multiple unit is more efficient and favorable than a diesel multiple unit.
The demand for EMUs is expected to increase significantly owing to the construction of new high-speed train lines in China and the demand for new vehicles in Russia, Japan, Brazil, and the US. Such innovations would spur the growth of the rolling stock market.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 - 27 %, Tier 2 - 52%, Others - 21%
• By Designation: C level - 47%, D level - 37%, Others - 16%
• By Region: North America - 22%, Europe - 26%, Asia Oceania - 28%, Middle East & Africa – 10%, RoW - 14%
Major players profiled in the report are: CRRC (China), Bombardier (Canada), Alstom (France) , General Electric (US), Siemens (Germany), CJSC Transmashholding (Russia), Stadler (Switzerland), Kawasaki Heavy Industries (Japan), Construcciones Auxiliar de Ferrocarriles (Spain), Hyundai Rotem (South Korea)
The report segments the rolling stock market and forecasts its size, by volume and value, on the basis of region (North America, Asia Pacific, Europe, MEA, and RoW), product type (locomotive, rapid transit, wagon, and coach), application (passenger transportation and freight transportation), and locomotive technology (conventional locomotive, turbocharged locomotive, and maglev).
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall rolling stock market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04031784/?utm_source=GNW
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