Rolling stocks is referred as any wheeled vehicles running on a railway tracks, which comprises of locomotives, passenger coaches and fright wagons. Railway transport is an essential part of transport system and plays vital role in the development of a nation, because the expansion in trade, commerce and industries are highly dependable on the transport system. Growing population, industrialization and government initiatives to deliver faster, cleaner and safest transport system is encouraging growth of the global rolling stock market.This growth is primarily driven by Growing Demand for Energy-Efficient Transport and Increasing Demand for Comfort and Safety.
Globally, a noticeable market trend is evident Technological Advancement Related to Rolling Stock System. Major Manufacturers, such as Trinity Rail Group, LLC (United States), Hyundai Rotem (South Korea), Hitachi Rail Systems (Japan), CRRC (China), Bombardier (Canada), GE Transportation (United States), Siemens (Germany), Qiqihar Railway Rolling Stock Co. Ltd. (China), Advantech (Taiwan), Strukton Rail bv (Netherlands) and Herrenknecht AG (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Growing Demand for Energy-Efficient Transport
- Increasing Demand for Comfort and Safety
- Technological Advancement Related to Rolling Stock System
- Refurbishment of Existing Rolling Stock
- Huge Capital Required
Big Data Applications in the Rail Industry and Increase in Industrial and Mining Activity
High Overhaul and Maintenance Costs and High Expenditure for Research and Development
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