The global rail market is anticipated to grow at a significant CAGR of 3.2% during the forecast period (2022-2028). The global rail market is growing due to the various advancement in railway operations which includes traffic planning, operation management, power supply & infrastructure management, maintenance & support, station control & communication network, and rail-facility information management. The advancement in digital communication and on-train processing to keep a track of the speed and location of trains are used in the advanced railway system and are anticipated to propel the growth of the market.
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The global rail market is also growing due to the high pricing range of airplane tickets due to which low-income travelers prefer railways over airways. The increasing preferences for public transport due to the rising urban population and the growing traffic congestion are also boosting the growth of the market. The improvement of public transportation infrastructure and intelligent transport solutions with improved capabilities to save time and money is also driving the market of the global rail market. Additionally, various government initiatives and collaboration for the advancement of the railway system is generating new opportunities for the market.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In December 2021, Standard Chartered announced $1.2 billion of financing to construct strategic railway infrastructure in Turkey to develop a 200 km of the new high-speed railway line.
- In November 2021, Ukrainian Railways launches a major infrastructure upgrade project which will start electrifying and modernizing the Kovel-Izov-Derzhkordon route between Ukraine and Poland.
- In November 2021, Alstom has launched its largest component manufacturing facility in Tamil Nadu’s Coimbatore, India.
- In April 2021, Equinix, Inc. announced the launch of Global Railway Exchange Data Centers for locomotives speed digital infrastructure services to the rural edge.
- In February 2020, Indian Railways announced their decision to manufacture 400 new, more efficient Vande Bharat trains in the next three years with better energy efficiency and passenger riding experience.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- National Railroad Passenger Corp., RussianRailways.com, BNSF Railway Co., and Union Pacific and Kansas City Southern, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Rail Market Report by Segment
By Type
- Locomotive
- Rapid Transit Vehicle
- Railcar
By Application
- Rail Network
- New Track Investment
- Maintenance Investment
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