Rolling Stock Management Market to exceed US$ 68,761.96 million by 2028

    Published on 29-Sep-2023
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    Report : Rolling Stock Management Market Forecast and Global Analysis to 2028 – by Management Type (Rail Management and Infrastructure Management) and Maintenance Service (Corrective Maintenance, Preventive Maintenance, and Predictive Maintenance).

    According to our latest study, “Rolling Stock Management Market” – by Management Type and Maintenance Service,” the rolling stock management market was valued at US$ 48,571.46 million in 2022 and is expected to reach US$ 68,761.96 million by 2028; it is estimated to record a CAGR of 6.0% from 2022 to 2028.

    As per the International Energy Agency (IEA), passenger rail activity is expected to reach 15 trillion passenger-km by 2050 due to the rising development of transport systems and rail networks for the better convenience of passengers. Thus, there is a rise in the need for efficient and reliable maintenance and management of the rolling stock to maintain the safety and security of passengers. The management of rail assets and traffic control plays an important role in the rail industry in boosting the security of passengers by avoiding any accidents and derailment situations. Derailment is one of the most common issues in the rail industry. It is an operational error that causes the train to come off the railway track due to the mechanical failure of the tracks or train. Therefore, the rolling stock management system engages in the maintenance of these tracks to avoid such accidents. Preventive and predictive maintenance of rail infrastructure allows the workers to monitor and check the condition of the railway tracks to detect any mechanical error. Predictive maintenance allows the rail industry to be prepared for emergency situations that are caused by the failure of the critical component of the rolling stock. Thus, the benefits of the rolling stock management help to maintain security and safety in the rail industry, which drives the demand for the rolling stock management system and fuels its market growth. Furthermore, rise in the number of rail stations is boosting the demand for rolling stock management services for efficiency, reliability, and safety between the railways and stations, fueling the rolling stock management market during the forecast period

    Moreover, the rise in the rail industry is one of the major contributors to the rolling stock management market. The rise in the launch of new rail stations and expansion of the rail network generates the need for an efficient rolling stock management system to manage the rolling stock, its route, and maintenance. Therefore, the growing demand for maintenance in various countries propels the rolling stock management market growth.

    A few of the main stations and rail expansion projects of the rolling stock management market are mentioned below:

    • In March 2022, Saudi Arabia Railways (SAR) inaugurated the Al-Qurayyat passenger train station under the SAR’s plan to launch the Northbound passenger trains.
    • In March 2023, the Indian Central Railways (CR) Authority announced its plan to construct six new suburban railway stations to cater to Mumbai's local trains. CR Mumbai has 80 stations, and with the addition of these six stations, the count will reach 86.

    Key Findings of Rolling stock management Market Analysis Study:

    Based on management type, the rolling stock management market is bifurcated into rail management and infrastructure management. Based on maintenance service, the rolling stock management market is categorized into corrective maintenance, preventive maintenance, and predictive maintenance. Geographically, the rolling stock management market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America

    Alstom SA, Hitachi Rail Ltd, ABB Ltd, Mitsubishi Electric Corp, Siemens Mobility GmbH, Talgo SA, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, Trimble Inc, and LocoTech LLC are among the key players in the rolling stock management market that were profiled in this market study. In addition to these players, other leading global and regional players, emerging companies, and niche rolling stock management market players were studied and analyzed during the study.

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