Middle East and Africa Rolling Stock Market, By Type (Locomotive, Rapid Transit, Wagons, Coaches, Locomotives, Others), Locomotive Technology (Turbocharged Locomotives, Conventional Locomotives, Maglev), Components (Traction Motor, Auxiliary Power System, Wheelset, Axle, Pantograph, Air Conditioning System, Passenger Information System, Position Train Control, Brakes, Gearboxes, Train Control System, Battle Gear, Coupler, Others), Application (Passenger Transportation, Freight Transportation), By End User (Passenger Transit, Cargo Train) – Industry Trends and Forecast to 2030.
Middle East and Africa Rolling Stock Market Analysis and Size
Increasing industrialization and urbanization lead to the swift demand for commutation, causing road traffic in major cities of the Middle East and Africa. The traffic problems increasing the market for substitute transportation such as rail transport will play an important role in the rolling stock market growth. Rail transport provides convenient and faster transport of passengers and goods. Moreover, technological advancements such application of IoT in communications, signaling, engineering, and improving the onboard passenger experience have increased the rolling stock market growth.
Data Bridge Market Research analyses that the rolling stock market is expected to reach USD 7,482.52 million by 2030, which was USD 5,726.42 million in 2022, at a CAGR of 3.40% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Middle East and Africa Rolling Stock Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Locomotive, Rapid transit, Wagons, Coaches, Locomotives, Others), Locomotive Technology (Turbocharged Locomotives, Conventional Locomotives, Maglev), Components (Traction Motor, Auxiliary Power System, Wheelset, Axle, Pantograph, Air Conditioning System, Passenger Information System, Position Train Control, Brakes, Gearboxes, Train Control System, Battle Gear, Coupler, Others), Application (Passenger Transportation, Freight Transportation), By End User (Passenger Transit, Cargo Train)
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Countries Covered
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Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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ABB (Switzerland), Alstom (France), American Industrial Transport, Inc.. (U.S.), Bombardier (Canada), CAF Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain), Caterpillar (U.S.), CRRC Corporation Limited (China), Hitachi, Ltd. (Japan), HYUNDAI ROTEM COMPANY (South Korea), JAPAN TRANSPORT ENGINEERING COMPANY (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), National Steel Car Limited (Canada), Niigata Transys Co.,Ltd. (Japan), PATENTES TALGO S.L.U. (Spain), Siemens (Germany), Stadler Rail AG (Switzerland), Toshiba Infrastructure Systems & Solutions Corporation (Japan), Wabtec Corporation (U.S.), and Woojin Industrial Systems, Co, Ltd. (South Korea)
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Market Opportunities
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Market Definition
Any wheeled transportation on rails is referred to as rolling stock, including powered and non-powered coaches, carriages, passenger cars, and freight wagons. It is regarded as one of the most economical means of transportation for long-distance delivery of big or bulky items as well as for commuters. In addition, it is simple to modify to the customer's precise needs and offers a higher carrying capacity than traditional modes of transportation.
Middle East and Africa Rolling Stock Market Dynamics
Drivers
- Increasing demand for energy-efficient transport systems
The market for rolling stock is anticipated to expand because of the rising demand for energy-efficient transportation systems in the coming years. People and goods may move about with the help of efficient transportation networks, which also save time, money, and energy. Because rolling stocks are used in trains and contribute to lowering energy consumption, demand for rolling stocks is increasing as more people seek energy-efficient transportation options. As a result, the market for rolling stock is expanding due to the increasing demand for energy-efficient transportation systems.
- Growing demand for rapid transit vehicle widen the market scope
Regarding product type, the market is segregated into wagons, rapid transit vehicles (RTV), and locomotives. Amongst these, the RTV segment is expected to hold the highest rolling stock market share during the forthcoming years, fuelled by its ability to offer comfortable high-speed operation. They are also very efficient and reliable. RTV consumes very less amount of energy, unlike road-based transportation systems. They often utilize electricity to operate. Apart from that, the emergence of magnetic levitation trains and the advancement of automated trains would drive the growth of this segment.
Opportunities
- Increasing usage of artificial intelligence (AI) in rolling stock
The rolling stock market is expanding due to the incorporation of artificial intelligence (AI) in rolling stocks to automate different activities, including maintenance. It is being used more frequently in resource planning and management to facilitate the safe and effective use of rolling stock and railway tracks. Additionally, the advantageous capabilities provided by artificial intelligence (AI) are accelerating their employment in various rail applications, including, among others, train scheduling, asset management, and automated operation systems. Thus, continued use of artificial intelligence (AI) is anticipated to increase rolling stock efficiency and spur the industry's expansion during the projection period.
- Growing development and testing of autonomous train
Autonomous trains are automated transit systems controlled by a control station and run without human intervention. To lessen human involvement and interference, different nations are concentrating on developing, testing, and accepting autonomous railway technology. Moreover, autonomous railway technology is more widely used since it is safer, more secure, adaptable, and more efficient than traditional humanly-run trains. So, the increased testing and development of autonomous trains present a potential market opportunity.
Restraints/ Challenges
- Increasing refurbishment of existing rolling stock
End customers are moving towards the availability of assets to contribute to progress these days. Rail operators are not purchasing new cars, nevertheless, as rolling stock restoration projects provide a wonderful option to complete the current fleet's overhaul. In the upcoming years, it can hinder the expansion of the rolling stock market.
- High costs associated with rolling stock
Rolling stock requires to be sometimes overhauled to confirm its reliability. This comprises maintenance of the vehicle's mechanical, electrical, and hydraulic components. Though, regular overhauls and maintenance of rolling stock are highly costly. This indicates the need for high capital to maintain the train network, which is likely to hamper the market's growth.
This rolling stock market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the rolling stock market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2020, CRRC Corporation Limited Company offered CRRC Electric Vehicles and prolonged its presence in the Saudi Arabia market. According to Saudi Arabia's local regulations and laws, the company increased its offering for railway tourist coaches. This augmented the consumer base and strengthened their position in the Saudi Arabia market.
- In 2020, Alstom announced that it signed an agreement with Caisse de depot et placement du Quebec (CDPQ) and Bombardier Inc. to acquire Bombardier Transportation. The price for acquiring all the Transportation and Bombardier shares is about EUR 6 billion.
Rolling Stock Market Scope
The rolling stock market is segmented based on type, locomotive technology, components, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Locomotive
- Diesel
- Electric
- Electro-Diesel
- Rapid transit
- DMU
- EMU
- Light Rails/Trams
- Subways/Metros
- Monorails
- Wagons
- Coaches
- Locomotives
- Others
Locomotive Technology
- Turbocharged Locomotives
- Conventional Locomotives
- Maglev
Components
- Traction Motor
- Auxiliary Power System
- Wheelset
- Axle
- Pantograph
- Air Conditioning System
- Passenger Information System
- Position Train Control
- Brakes
- Gearboxes
- Train Control System
- Battle Gear
- Coupler
- Others
Application
- Passenger Transportation
- Freight Transportation
End User
- Passenger Transit
- Cargo Train
Rolling Stock Market Regional Analysis/Insights
The rolling stock market is analysed and market size insights and trends are provided by country, type, locomotive technology, components, application and end user as referenced above.
The countries covered in the rolling stock market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Saudi Araba dominates the rolling stock market in terms of revenue. This is due to the increasing urban population and augmenting demand for rolling stock in this region. Moreover, increasing investment in rapid transit vehicles and passenger rails will further increase the market growth in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Rolling Stock Market Share Analysis
The rolling stock market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to rolling stock market.
Some of the major players operating in the rolling stock market are:
- ABB (Switzerland)
- Alstom (France)
- American Industrial Transport, Inc. (U.S.)
- Bombardier (Canada)
- CAF Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain)
- Caterpillar (U.S.)
- CRRC Corporation Limited (China)
- Hitachi, Ltd. (Japan)
- HYUNDAI ROTEM COMPANY (South Korea)
- JAPAN TRANSPORT ENGINEERING COMPANY (Japan)
- Kawasaki Heavy Industries, Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- National Steel Car Limited (Canada)
- Niigata Transys Co.,Ltd. (Japan)
- PATENTES TALGO S.L.U. (Spain)
- Siemens (Germany)
- Stadler Rail AG (Switzerland)
- Toshiba Infrastructure Systems & Solutions Corporation (Japan)
- Wabtec Corporation (U.S.)
- Woojin Industrial Systems, Co, Ltd. (South Korea)
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