Rolling stock is a locomotive, carriage, or other vehicle used in railway transport industry. It is used for overall transportation services offered for carrying passengers and industrial products. Rolling stock are highly customized and can be altered according to requirement.
Rapid urbanization in developing countries, increasing investment in development and maintenance of railway tracks, and increasing fast and reliable railway network are major factors driving growth of the global rolling stock market. In addition, rising demand for flexible and high capacity carriers to fulfill demand of country supply chain activities is other factor expected to support growth of the global rolling stock market.
However, high capital investment is a major factor hampering growth of the global rolling stock market. In addition, stringent competition from other mode of transport is expected to challenge growth of the global rolling stock market.
Technological advancement such as development of robust ball valves is expected to present new opportunities to market players operating in the global rolling stock market over the forecast period.
The global rolling stock market is segmented on the basis of vehicle, technology, and region. On the basis of region, the global rolling stock market is segmented in to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market is dominating the global rolling stock market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to presence of leading rolling stock manufacturers, and rise in number of industries opting use of rolling stock over other modes of transport. Europe market accounts for the second largest revenue share contribution to the global rolling stock market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increasing infrastructure development related to railway industry, and rise in government initiatives for the development of rolling stock network in emerging economies in this region.
Prominent market players operating in the global rolling stock market are Alstom SA, Bombardier Transportation, CSR Corporation Limited, CJSC Sinara Group, Hitachi, Ltd., Japan Transport Engineering Company, Kawasaki Heavy Industries, Ltd., Mitsubishi Heavy Industries, Ltd., and Siemens AG.