Until 2023, the total rail supply market is forecasted to continue its growth at a rate of 2.7 % per year and the annual volume is expected to reach approximately EUR 192 billion, UNIFE’s latest World Rail Market Study reveals.
At InnoTrans 2018, UNIFE has presented the seventh edition of the World Rail Market Study which projects the future global rail supply market based on an evaluation of several thousand rail projects and verification through several top-down calculations.
A growing foundation from mature rail markets, where operators consistently invest in upkeep and extension of their infrastructure and rolling stock bases are among the key drivers for this positive market development. Within this growth trend, upgrades and modernisations of signalling systems are also important factors.
In addition, emerging rail markets, such as Africa/Middle East or Latin America, contribute to market development through continued development of their infrastructure and rail systems.
Megatrends such as increasing security concerns, urbanization, globalization, or sustainability have a positive effect on the demand for rail solutions. On top of that, the industry is also transformed by digitalization, artificial intelligence, e-mobility, private financing as well as liberalisation of rail operators.
Due to considerable investments in rail infrastructure, rail control and services, the rail supply market has grown by 1.2% per year from the 2013-2015 and 2015-2017. Currently the rail market has a volume of EUR 163.2 billion per year, with EUR 63.8 billion in services, EUR 52.6 billion in rolling stock, EUR 31.2 billion in infrastructure.