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.
Rolling stock refers to railway vehicles that include both powered and unpowered vehicles. It is referred to any railway vehicle that can move on the rail tracks. The rolling stock’s maintenance, information tracking, and management are the key features of the rolling stock management system. The rolling stock management market is categorized into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The global rolling stock management market growth is attributed to increased passenger traffic and a rise in rail stations. Most conventional rail networks are in North America, Europe, and APAC. According to the Federal Transit Administration data in 2019, these regions account for ~90% of global passenger movements on a conventional rail, with India leading at 39%, followed by China at 27%, Japan at 11%, and the European Union at 9%. The growing number of infrastructures and passengers is boosting the need to procure these rolling stocks to cater to the demand for increased maintenance services. Thus, the 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.
North America has an extensive rail infrastructure network that supports freight and passenger transportation. This includes tracks, terminals, trains, stations, and bridges. Rail infrastructure investments are made to maintain and expand the network's capacity, improve safety, and support efficient operations. Hence, the rise in the construction of railway infrastructure, including new rails, routes, and stations, is likely to generate demand for rolling stock maintenance services, which is expected to boost the market growth during the forecast period. For instance, the government of Mexico announced its plan to construct 11 train routes by 2050, and the first launch will be in 2023. Furthermore, rolling stock maintenance services provide efficiency, reliability, and safety among the newly launched routes as well as stations and trains.
APAC has the most populated countries, such as China, India, and Japan. The market is driven by the rising fleet size of railways, growing number of rail stations, and high passenger traffic in the region. India has a large rail network. Indian railways carried ~8.4 billion passengers across its vast network in 2020. In March 2023, the Central Railway of India announced its plan to open six new railway stations in India. The railways need new stations to manage the increased passenger traffic. With the increase in passenger traffic and fleet size, the need for maintenance and repair services is also growing rapidly in the region.
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 size that were profiled in this rolling stock management market study. In addition to these players, other leading global and regional players, emerging companies, and niche market players were studied and analyzed during the study.