Rail Vehicle Market Scope
The global population has been increasing drastically since the last few decades which has ultimately led to increased technical innovations in the transportation industry, encouraging the introduction to variety if rail vehicles. In addition to this, heavy traffic, congestion, and road accident concerns have further escalated the demand for cheaper and faster transportation solutions. These rail vehicles have numerous variants such as; intercity passenger rails, high-speed rail, regional rail, metro rail, light rail, streetcars, and many others. Moreover, increasing demand for speedy and cheaper transportation will further show significant growth over the forecasted period. However, higher initial investments might stagnate the demand for rail vehicles.
The market study is being classified by Type (Automated People Movers, Automated Monorails, Light Rail Vehicles, Metros, Locomotives and Others (High Speed Train, Freights/Goods Rail)), by Application (Passenger and Freight) and major geographies with country level break-up.
Over the past few years, the global rail vehicle market has experienced players' consolidation. For instance; Japanese Multinational firm Hitachi has owned around half of the shares of Italian rail transport service provider Ansaldo STS. In addition to this, Wabtec Corporation has signed an agreement to combine its operations with GE Transportation. Moreover, Skoda Transportation Group has earned a 25% stake of Finland-based Transtech.The Manufacturers having a strong hold in the market are Alstom, Bombardier, China CNR, and General Electric. Research Analyst at AMA predicts that Asian Manufacturers will contribute to the maximum growth of Global Rail Vehicle market throughout the predicted period.
Alstom SA (France), Bombardier Inc. (Canada), China CNR Corporation Limited (China), General Electric Company (United States), Hyundai Rotem (South Korea), Inekon Trams A.S. (Czech Republic), Knorr-Bremse AG (Germany), Siemens AG (Germany), ABB (Switzerland) and Vossloh AG (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are US Railcar (United States), CRRC Corporation Limited (China), PKC Group (Finland), Progress Rail Services Corporation (United States), Sinara Transport Machines (Russia) and Skoda Transportation a.s. (Czech Republic).
AdvanceMarketAnalytics has segmented the market of Global Rail Vehicle market by Type, Application and Region.
On the basis of geography, the market of Rail Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
According to the Association of American Railroads, each year, freight rail moves nearly 75% of the new cars and light trucks purchased in the United States. In addition to this, in 2017, automakers sold 17.22 million cars and light trucks in the United States which has been made possible due to the strengthened rail infrastructure across North America.
- Upsurging Focus of the Rail Vehicle Manufacturers on Transportation Safety and Digitalization
- Increased M&As to further Industry Consolidation
- Growing Population and International Trades across the Globe
- Increasing demand for Energy Efficient Transportation Systems
- Upsurging Investments from the Asia Pacific Region
- Numerous Challenges Associated with Conventional Transport such as Heavy Traffic, Congestion, and Accidents
- Comparatively Higher Initial Investments and Post Purchase Maintenance Required for Rail Vehicles
- Availability of Conventional Transportation Substitutes
- Lack of Availability from the Underdeveloped Economies
Key Target AudienceRail Vehicle Manufacturers, Rail Vehicle Distributors and Traders, Rail Transport Industry Associations, Government Agencies, Railroad Manufacturers, Downstream Buyers, Research and Development Institutes and Others
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