Rolling Stock Market Regional Analysis:
APAC Market Insights
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 2035. 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 Insights
North America region is projected to register substantial growth through 2035. 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 Market Insights
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 2035. 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.
