Rolling Stock Management Market Report - Size, Share 2028

[Research Report] 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.

Analyst Perspective:

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. It maintains the information regarding the running as well as breakdown and inspection records of the rolling stocks. It also stores the records of the rolling stock from its manufacturing to the information regarding its main fittings. The management of the history log of the rolling stock helps the workers, during its inspection and breakdown, to efficiently manage their work. In addition, this system helps to collectively connect this information to traffic management systems, material and accounting systems, transportation plans, etc. Therefore, the rolling stock management system is necessary to determine the optimal performance of the rolling stocks and the railway industry.

Market Overview: Rolling Stock Management Market

The rise in the rail industry is one of the major contributors to the rolling stock management market. The growing number of launches 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.

A few of the main stations and rail expansion projects 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 value will reach 86.

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Rolling Stock Management Market: Strategic Insights

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Market Driver: Rolling Stock Management Market

Expansion of Rail Industry

The demand for improved transport services is growing rapidly across the globe. As per the International Energy Agency (IEA), compared to 2019, passenger and freight activities are expected to double by 2050. Per The World Bank Group, railways are considered among the most efficient ways to transport passengers and freight. Due to growing transport activities, the World Bank Group is investing in the development of the rail industry to make it more efficient. Many organizations are extending their support to governments of various developing countries in reforming the railway infrastructure and incorporating railways into a country’s transportation network. In addition, governments of developing countries are investing to boost their railway industry. According to the India Brand Equity Foundation, by 2030, the country will invest ~US$ 715.41 billion for rail infrastructure and development. To manage the increased passenger and freight traffic, countries are expanding their railway infrastructure. For instance, in September 2022, The Connecticut Department of Transportation (CTDOT) opened a new train station in Hartford County, US. In addition, in January 2022, the Investment Minister of Saudi Arabia announced the country’s target to expand the rail network by 8,000 km. The rolling stock management system helps to improve the optimal performance of rolling stock. The rise in expansion and development of the rail industry is creating a demand for rolling stocks such as locomotives, freight cars, and passenger trains, which further boosts the demand for an efficient rolling stock management system.

Segmental Analysis: Rolling Stock Management Market

Based on management type, the rolling stock management market is bifurcated into rail management and infrastructure. 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, Europe, Asia Pacific, the Middle East & Africa, and South America.

Regional Analysis: Rolling Stock Management Market

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 air 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.

Key Player Analysis: Rolling Stock Management Market

A few of the major players operating in the rolling stock management market are 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. Many companies are investing in rolling stock management owing to the potential improvements related to accuracy, operational efficiency, and timely order fulfillment of the rolling stocks.

Rolling Stock Management Market Regional Insights

The regional trends and factors influencing the Rolling Stock Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Rolling Stock Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Rolling Stock Management Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Rolling Stock Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Rolling Stock Management Market are:

1. Alstom SA
2. ABB Ltd
3. Hitachi Rail Ltd
4. Mitsubishi Electric Corp
5. Siemens Mobility GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Recent Developments:  Rolling Stock Management Market

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the rolling stock management market. A few recent key rolling stock management market developments are listed below: 

• In 2023, Alstom signed a contract with the Port Authority of New York and New Jersey and Newark Liberty International Airport to provide operations and maintenance services for its Innovia monorail system—AirTrain Newark—for the next seven years by January 2030. The contract is valued more than US$ 260 million and includes an option for one additional year.
• In 2023, ABB received US$ 170 million in orders from Stadler, a Swiss-Swedish multinational company, to power more than 300 new trains and locomotives. The trains were used across various European railway networks to modernize and reinforce train transportation in countries such as the UK, Spain, Portugal, Germany, and Austria, as well as in a few European railway corridors.
• In 2023, Siemens Mobility delivered 1,200 electric locomotives and promised 35 years of full-service maintenance. This is considered the single largest locomotive order in the history of Siemens Mobility as well as Siemens India. With this, Siemens Mobility has strengthened its position in the market.
• In 2022, Thales demonstrated new train technology to stakeholders that made the UK rail network safer for track workers, train crews, and passengers. Thales worked with Network Rail and the West Somerset Railway (WSR) to run a live demonstration of its Train Protection and Warning System-Continuous Supervision (TPWS-CS).