The rolling stock market is expected to reach an estimated USD 84 billion by 2029.
The global rolling stock market was valued at USD 59 billion in 2021 and is expected to reach USD 84 billion by 2029, registering a CAGR (compound annual growth rate) of 4.40% during the forecast period 2022-2029.
Passenger transport is the largest segment in the market, owing to the growing demand for increased convenience and connectivity. In addition to market information such as market value, growth rate, market segments, geographic coverage, market players and market scenario, according to digitaljournal.com.
Factors driving growth will be:
- Urban population growth – Urban population growth along with increasing industrial mining activities across the globe acts as one of the major factors driving the growth of the rolling stock market. Increasing demand for fast metro trains and fast trams have a positive impact on the market.
- Government initiatives – Increasing initiatives taken by the government across the globe for incorporating fast trains are accelerating the market growth. These trains are considered economical, safe, and a means of rapid transport has a positive impact on the market.
- Tourism Sector – the expansion of tourism sector across the globe is further influencing the market. The increase in the number of tourists and the congestion caused by this number increases the demand for bullet trains. Also, increasing transport concerns and their environmental impact are helping to expand the market.
Share on:
