Get on Board: North America’s Rolling Stock Market Set to Grow by $1.69 Billion from 2024-2028, Thanks to Increased Demand for Freight Wagons – Technavio Reports
Description:
NEW YORK, May 20, 2024 /PRNewswire/ — The global rolling stock market in North America size is estimated to grow by USD 1.69 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.71% during the forecast period. For more insights on the forecast market size and historic data (2018 – 2022) – Download Free sample report in a minutes. Forecast period 2024-2028 Base Year 2023 Historic Data 2018 – 2022 Segment Covered Product (Rapid transit vehicles, Railroad cars, and Locomotives), Type (Rail freight and Rail passenger), and Geography (North America) Region Covered North America Key companies profiled ALSTOM SA, American Industrial Transport Inc., Bombardier Inc., Brookville Equipment Corp., Caterpillar Inc., COLMAR Technik S.p.a., CRRC Corp. Ltd., FreightCar America Inc., General Electric Co., Hitachi Ltd., Hyundai Motor Co., National Steel Car Ltd., Railserve Inc. , Siemens AG, Stadler Rail Ag, The Greenbrier Companies Inc., Trinity Industries Inc., United Rentals Inc., Western Train Co., and WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. Segment Overview This rolling stock market in North America report extensively covers market segmentation by 1.1 Rapid transit vehicles- In the North American Rolling Stock Market, product segmentation encompasses various rail vehicles such as tank wagons and those designed for passenger transportation, including metro trains, light rail transit vehicles, trams, sleeper coaches, double-decker trains, and chair cars.
Expand on the Topic:
The growth of this market segment is propelled by several factors. Population expansion in urban areas necessitates the development and enhancement of transportation infrastructure and network infrastructure. Inadequate infrastructure in major metropolitan cities, coupled with rising concerns over air quality, gasoline prices, and traffic congestion, have led governments to focus on improving public transportation systems. As a result, there is a significant push towards the adoption of greener technologies, such as electric locomotives, EMUs, and Diesel Multiple Units (DMUs), to reduce greenhouse gas emissions and the carbon footprint of transportation. Rolling stock refurbishment and fleet expansion are also key areas of investment to address passenger demand and reliability issues. Train energy efficiency is a critical consideration in the modernization of vehicles to cater to the increasing demand for sustainable transportation solutions. The market is expected to witness substantial growth as countries in North America invest in urban transit systems to increase local and regional connectivity and improve economic activity.
Effect on Me:
Increased demand for freight wagons in North America’s rolling stock market can potentially lead to job opportunities, economic growth, and infrastructure development in the region. As the market expands, it may also offer investment opportunities for individuals interested in the transportation industry or related sectors.
Effect on the World:
The growth of North America’s rolling stock market can have a ripple effect on the global economy, particularly in terms of trade and transportation efficiency. Increased demand for freight wagons signifies a rise in industrial activity, which could impact international trade dynamics and contribute to the overall growth of the transportation and logistics sector worldwide.
Conclusion:
In conclusion, the projected growth of North America’s rolling stock market presents opportunities for both regional development and global economic advancement. As the demand for freight wagons increases, stakeholders across various industries should prepare to capitalize on the potential benefits and challenges that come with this market expansion.
