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Smart Fleet Management Market Growth Projections and Opportunities
Rolling stock refers to the wheeled vehicles used on railways or by motor carriers. This term includes both vehicles that have engines (like locomotives) and those without (like coaches and wagons). The quality of rolling stock significantly impacts the performance of a rail system, directly affecting the safety and comfort of passengers.
The global rolling stock market is expected to grow at a rate of 5.01% during the period from 2020 to 2026. In 2019, Europe led the market with a share of 35.54%, followed by Asia-Pacific at 29.48%, and North America at 23.21%.
The market is divided into different segments based on product, type, train type, and region. In terms of product, wagons held the largest share in 2019, accounting for 54.53% of the market and valued at USD 33,686.6 million. The wagon segment is projected to grow at a rate of 4.62% during the forecast period. Diesel-powered rolling stock dominated by holding a 56.11% market share in 2019, valued at USD 34,664.0 million, and is expected to grow at a rate of 3.83%. Rail freight was the dominant train type with a 55.56% market share in 2019, valued at USD 34,324.7 million, and is projected to grow at a rate of 4.79%.
Major players in the global rolling stock market include Siemens AG, General Electric, Alstom, Kawasaki Heavy Industries, Ltd, CRRC Corporation Limited (CRRC), Bombardier, and Stadler Rail AG. These companies have strengthened their global presence through product development and research & development. In the future, they are expected to focus on partnerships to meet the growing demand for rolling stock.
In summary, rolling stock plays a crucial role in railway transportation, impacting passenger safety and comfort. The global market is witnessing growth, with Europe leading the way, and key players are gearing up to meet the increasing demand through strategies like product development and partnerships.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 259.3 Billion |
| Growth Rate |  10.1% (2022-2030)Base Year2022Market Forecast Period2023-2030Historical Data2018 - 2022Market Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Market Competitive Landscape, Growth Factors, and TrendsSegments CoveredAircraft Class, Flight Type, Catering Type, and RegionGeographies CoveredNorth America, Europe, Asia Pacific, Rest of the WorldCountries CoveredThe U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and BrazilKey Companies ProfiledContinental AG , Samsung Electronics Co Ltd, Robert Bosch GmbH, Siemens, Denso Corporation, Hitachi, Ltd. and Orbcomm, Inc. Key Market OpportunitiesGrowing demand for real-time fleet monitoring and optimization solutionsKey Market DynamicsThe increasing demand for efficient fleet management solutions and reduces operating cost, improve vehicle safety, and enhance overall productivity |
Smart Fleet Management Market Highlights:
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