Rolling Stock Market size was over USD 62.71 billion in 2024 and is projected to cross USD 147.09 billion by the end of 2037, witnessing more than 6.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of rolling stock is estimated at USD 66.12 billion. The growth of the market can be attributed to the surging traffic congestion across the globe. They are considered one of the best means of transportation as a replacement for road traffic. As per the reported data, the average annual economic losses in the United States cities from traffic congestion accounted for USD 11.0 Billion, USD 7.6 Billion in New York and Chicago respectively, every year.
In the railway transportation industry, rolling stock refers to any vehicle that can move on rails. It includes both electric and diesel vehicles such as passenger coaches, goods wagons, and others. Nowadays, the trend of driverless trains rolling stock is increasing and does not require any driver to operate. The factors that are attributing to the growth of the global rolling stock market include the export and import of goods across the globe, and the comfort of being environmentally friendly. Moreover, the increasing use of different technologies in the form of artificial intelligence, data analytics are anticipated to further support the factors that are expanding the growth of the rolling stock market in the upcoming years.
Growth Drivers
Surging Automation in Rolling Stock – Different technologies, such as ATO (automatic train operation), are used in order to automate the operations of the train. Furthermore, efforts are being made to use robots to maintain the rail industry, and it is expected to boost the growth of the global rolling stock in the market. By the year 2030, it is expected that more than 30 percent of all the jobs across the globe will be automated.
Surging Adoption of Public Transportation –Driving more vehicles will just degrade the environment, which will affect the health of the people. Thus, the use of public transportation in the future will be more encouraged among the people, and it is projected to increase the market’s growth. As per the International Energy Agency, the passenger rail activity rises in the High Rail Scenario to 15 trillion passenger-kilometers by the year 2050.
Increasing Initiatives by the Government for Development of Railway Infrastructure– The governments of countries with large population are working on metro projects for easy transportation. As these projects lead to less sound pollution, no air pollution, and a reduction in traffic congestion, the government is therefore making more investments. Thus, it is anticipated to rise the growth of the market over the forecast period. The Government of India, and the Asian Development Bank signed around USD 500 million loan in order to expand the metro rail network in Bengaluru through constructing the two new metro lines totaling 50 kilometers in length.
Surge in Mining & Industrial Activity– The increase in mining activities, through the production of coal and others, is expected to expand the growth of the global rolling stock market. In addition, the intra- and inter-state trade of coal and other mine products is mainly done through the use of railroads for transportation. According to the data in 2020, at least 50 new coal mines will be opened in India by Coal India Limited in the next five years.
Rising Demand for Safer Transport Means- There has been a surge in the number of road accident cases across the globe. On the contrary, the rolling stock moves at a fixed speed, and it is anticipated to drive the market’s growth. In the year 2022, there were more than 150,000 deaths owing to road accidents in India. Moreover, more than 55 percent of the road accidents were owing to the over speeding.
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.9% |
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Base Year Market Size (2024) |
USD 62.71 billion |
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Forecast Year Market Size (2037) |
USD 147.09 billion |
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Regional Scope |
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Type (Electric, Diesel)
The global rolling stock market is segmented and analyzed for demand and supply by type into electric, and diesel. Out of the two types of rolling stock, the electric segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the surging need to opt for an environmentally friendly option that emits less carbon monoxide emissions as compared to diesel rail. Moreover, the global warming issue has been a great concern for different means of transportation, and the regulatory authorities are taking necessary actions to reduce the emissions. Therefore, it is anticipated to boost the growth of the segment in the region. For instance, diesel, in particular, plays a much larger role in freight rail, accounting for roughly two-thirds of total energy consumption globally in 2021. In the Net Zero Scenario, continuous progress on freight electrification will reduce this share to around 40% by 2030, as per the International Energy Agency.
End-user (Passenger Transit, Cargo Train)
The global rolling stock market is also segmented and analyzed for demand and supply by end-user into passenger transit, and cargo train. Out of these, the cargo train segment is anticipated to hold the significant share over the forecast period. The growth of the segment can be attributed to the increasing use of rolling stock as a reliable source for transporting goods from one location to another. Moreover, it is an effective way of transportation used for industrial as well as commercial goods, that is expected to drive the segment’s growth in the market. In addition, the rolling stock is used for international or domestic trade, along with the support through government funding, that is further projected to expand the growth of the segment in the market.
Our in-depth analysis of the global rolling stock market includes the following segments:
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By End Use |
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By Type |
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By Product |
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APAC Market Statistics
The market share of rolling stock in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about 29% by the end of 2037. The growth of the market can be attributed majorly to the increasing presence of rolling stock and rail traction transformer manufacturers in the region. Along with this, the surging adoption of passenger rail for commuting, is another factor that is expected to boost the growth of the market in the region. In addition, the rising funds allocated by the government for the development of the railway industry through metro projects, and electrified network train routes is another factor that is projected to drive the market’s growth in the region. As per the estimates, in the year 2022, railways will have transported nearly 1400 million tons of freight in India.
North American Market Forecast
The North America rolling stock market is estimated to register significant growth of 23 percent by the end of 2037. The growth of the market can be attributed majorly to the increasing use of metros among the other rolling stock. Furthermore, the presence of developed infrastructure for the railway tracks is increasing the efficiency and decreasing the cost of transportation in the North America region. In addition, the increasing electrification of rail in the North America region is expected to rise the growth of the rolling stock market in the region.
Middle East and Africa Forecasts
Further, the market in the Middle East and Africa, amongst the market in all the other regions, is projected to have the second fastest growth by the end of 2037. The surging demand for developing an infrastructure of a railway system for transporting of goods such as oil, diesel, as well as passengers is the factor that is expected to drive the rolling stock in the region. Furthermore, the region places an emphasis on creating a railway infrastructure to facilitate cross border travel and trade, that is another factor that is predicted to boost the growth of the market in the Middle East and Africa region. UAE oil exports accounted for more than 25 percent of the total UAE gross domestic product according to recent data.
The Greenbrier Companies, Inc. announced that it has acquired a 100% stake in GBX Leasing ("GBXL"), its joint venture with The Longwood Group in railcar leasing ("Longwood"). This contributes to Greenbrier's strategy of expanding its lease fleet and service offerings.
Stadler Rail AG signed a contract with Ferrocarrils de la Generalitat Valenciana for the supply of 16 TRAMLINK trams with the possibility of extending the order by a further 12 vehicles.
Author Credits: Parul Atri
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