Rolling Stock Market worth $40.10 billion by 2030, Globally, at a CAGR of 5.8%, says MarketsandMarkets™

Delray Beach, FL, April 06, 2025 (GLOBE NEWSWIRE) -- Rolling Stock Market, by value, is estimated to be USD 28.6 billion in 2024 and is projected to reach USD 40.1 billion by 2030, at a CAGR of 5.8% from 2024 to 2030, as per the recent study by MarketsandMarkets™.  The advancement of hybrid train technology is creating new growth opportunities in the market. Hybrid trains, which combine diesel and battery or hydrogen fuel cell technology, help reduce fuel consumption and emissions compared to traditional diesel-powered rolling stock. This makes them a viable option for countries and regions with stricter emissions regulations and sustainability goals. Hybrid propulsion enable trains to operate on non-electrified rail sections with reduced dependence on fossil fuels and lowered carbon emissions.  In Europe, the push for hydrogen and battery-powered trains is driven by strict environmental regulations and the EU’s commitment to carbon neutrality by 2050. Countries like Germany and France are actively deploying hydrogen trains like the Coradia iLint to replace diesel units on non-electrified routes. Meanwhile, in the Asia-Pacific region, growing urbanization and government initiatives for green transportation are accelerating the adoption of hybrid and battery-powered trains, particularly in countries like Japan and India. Japan has pioneered fuel cell train development, while India is investing in hybrid locomotives to modernize its vast railway network. Additionally, the integration of intelligent rail systems and big data is enhancing efficiency and predictive maintenance, supporting the expansion of sustainable rail solutions in both regions.

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List of Key Players in Rolling Stock Market:

• CRRC Corporation Limited (China)
• Siemens AG (Germany)
• Alstom SA (France)
• Stadler Rail AG (Switzerland)
• Wabtec Corporation (US)

Drivers, Opportunities and Challenges in Rolling Stock Market:

1. Driver: Development of advanced rolling stock technologies to enhance passenger comfort
2. Restraint: Refurbishment of existing rolling stock
3. Opportunity: Increasing demand for battery-operated trains
4. Challenge: High overhaul and maintenance costs

Key Findings of the Study:

1. Electric locomotives to be dominant during forecast period
2. The Asia Oceania market is projected to hold the largest share by 2030

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Electric Locomotive is expected to account prominent market share of rolling stock market during the forecast period

The rising demand for energy-efficient and high-performance locomotives, particularly in countries like China, and India, where extensive railway electrification projects are underway, further drives the electric locomotive segment. For instance, India’s ambitious goal of achieving 100% railway electrification by 2025-26 aligns with its broader net-zero carbon emissions target, driving strong demand for electric locomotives. CLW's record-breaking production of 581 locomotives in FY 2024-25 highlights the increasing pace of electrification and the shift away from diesel traction. Factors such as lower operating costs, reduced maintenance requirements, and the push for net-zero emissions in the transportation sector further bolster the adoption of electric locomotives, making them a key segment in the global rolling stock market.

Coaches segment will grow at higher CAGR during the forecast period

The coach segment is expected to grow at a higher CAGR during the forecast period due to increasing demand for intercity and long-distance travel, rising investments in public transportation infrastructure, and government initiatives to promote sustainable mobility. Additionally, the expansion of tourism and the growing preference for cost-effective and comfortable transportation are driving the adoption of coaches. Technological advancements such as electric and hybrid coaches, improved safety features, and enhanced passenger amenities further contribute to the segment's growth. Emerging markets, particularly in Asia-Pacific are witnessing strong demand due to urbanization and improved road connectivity, further fueling the expansion of the coach segment. In July 2024, Indian Railways has announced plans to produce 10,000 non-air-conditioned coaches by the end of the fiscal year 2025-26. This initiative aims to address the travel needs of common passengers, with 53% of the new coaches designated as general coaches.

North America is expected to register the higher CAGR during the forecast period

North America is expected to grow at a higher CAGR in the rolling stock market during the forecast period due to increasing investments in railway infrastructure, the expansion of commuter rail networks, and government initiatives to modernize aging fleets with more energy-efficient and environmentally friendly trains. The region is witnessing significant demand for new locomotives, EMUs, and DMUs, driven by urbanization, the need for sustainable transportation, and the adoption of advanced rail technologies. For instance, in February 2025, US Government has announced a major expansion of Metro-North Railroad’s railcar fleet, including the introduction of the first battery- and electric-powered passenger locomotives in North America. These new trains will provide New Haven Line service to Penn Station and connect four additional stations in the Bronx. Additionally, the push for high-speed rail projects, such as California’s bullet train and other regional corridor developments, along with rising freight transportation needs, is further fueling market growth.

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Recent Developments:

• In January 2025, Alstom SA in collaboration with Southeastern and Eversholt Rail, is proud to announced a major refurbishment of the Class 376 Electrostar fleet.
• In December 2024, Stadler Rail AG and Caltrain have solidified their partnership with the signing of a Technical Support and Spare Supply Agreement (TSSSA), marking a significant step in ensuring the efficiency and material availability of Caltrain's growing fleet of electric multiple units (EMUs).
• In November 2024, Alstom SA announced a new services agreement with Saudi Railway Company (SAR) at the Saudi Rail Exhibition, further strengthening their commitment to the future of transportation in the Kingdom. This five-year Technical Support and Spare Part Supply Agreement (TSSSA), valued at SAR 300 million (USD 79.8 MN) aims to enhance SAR's east-west freight corridor, essential for the Kingdom's economic growth.
• In October 2024, Alstom SA announced the formalisation of a two-year partnership with the Montreal technology incubator Centech. The objective is to accelerate the development of innovative and sustainable rail solutions by working with promising start-ups in Quebec and the rest of Canada.
• In September 2024, CRRC Corporation Limited at InnoTrans 2024 in Berlin, Germany unveiled CINOVA H2 New Energy Intelligent Intercity Train. CINOVA H2, the latest green zero-carbon passenger intercity train from CRRC, boasts world-class technical specifications in terms of speed, passenger capacity, and range.
• In September 2024, The Romanian Railway Reform Authority (ARF) and Alstom SA launched the first Coradia Stream interregional train. This is the first Alstom passenger train delivered to Romania from the fleet of 37 electric trains ordered by ARF, and the first new electric train delivered to the country in over three decades.

Related Reports:

1. Connected Rail Market
2. Hybrid Train Market
3. Train Battery Market

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