In 2024, the gross revenue of the world's railroad market is expected to be valued at US$ 311,628.9 million. A comprehensive analysis of the rail transit market projects that the railroad investment could increase at an annual growth rate of 5% from 2024 to 2034. The analysis report also gets to the bottom of underlying determinants for market growth in discussion until 2034, when it is expected to reach US$ 507,610.6 million.
| Report Attribute | Details |
|---|---|
| Railroad Market Revenue (2024) | US$ 311,628.9 million |
| Market Anticipated Forecast Value (2034) | US$ 507,610.6 million |
| Market Projected Growth Rate (2024 to 2034) | 5% |
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According to the earlier assessment of railroad industry demand, sales of railroad components worldwide generated a revenue of around US$ 243,947.6 million in 2019. During the subsequent five years, the global sales of the railroad market progressed at an average 4.8% growth rate per year. By 2023 end, the global railroad industry was figured to have realized an annual revenue of US$ 294,267.1 million.
| Attributes | Details |
|---|---|
| Railroad Market Size (2019) | US$ 243,947.6 million |
| Market Size (2023) | US$ 294,267.1 million |
| Market (CAGR 2019 to 2023) | 4.8% |
Since traffic and road congestion emerged as persistent problems in the last decade, many countries chose to move products by train, instigating a higher demand for railroad track construction. Moreover, a rise in the e-commerce sector also raised the need for dependable and effective freight transportation infrastructure during this period. Though the sector experienced a brief period of downturn during the years 2020 and 2021, it regained its market potential in 2022 and 2023.
Principal Consultant
The railroad sector is expected to expand further as sustainability and environmentally friendly transportation options become essential. So, higher investments in the railway sector by public and private entities are expected to support the expansion of the railroad equipment sector over the forecast years.
In an increasingly urbanized world, underground railways or tube trains have become an indispensable mode of transportation for many countries. So, many established railroad equipment suppliers have evolved in the last few years to cater to the growing demand for railroads in the subway sector.
The advent of high-speed rails or bullet trains has increased the appeal of train travel for long-distance passengers as well as commercial enterprises. In the coming days, the growing popularity of bullet trains in emerging economies is expected to boost rail infrastructure development.
The table below lists the countries which are expected to witness a noteworthy growth rate in the railroad market. China and the United States are expected to grow on the back of increased export demand for railroad equipment. Meanwhile, domestic demand for railroad infrastructure is expected to drive the markets in India and Australia.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 2.8% |
| Australia | 4.5% |
| China | 6.8% |
| India | 7.3% |
As per the global railway industry growth forecast, the market in the United States is projected to grow at 2.8% through 2034.
The railroad industry in the United States is seeing an increased investment by private market participants. For instance, Union Pacific Railroad Corporation provides a vital link in the global supply chain by building train connections between 23 states in the western part. Union Pacific supported America's rail transportation infrastructure by investing almost US$ 34 billion in its network and operations between 2013 and 2022.
Australia has emerged as a promising market for railroad equipment manufacturers, and it is anticipated to experience a year-on-year growth rate of 4.5% till 2034.
Currently, the expansion and modernization of rail networks to improve the connection, capacity, and efficiency of train transportation services is driving the sales of railroad equipment in the domestic market. However, new policies to enhance the connectivity of hinterlands with coastal towns are more than likely to drive this growth trend during the projected years.
The railroad sector in China is projected to register an impressive 6.8% growth rate per year over the next ten years.
China has started financing for rail projects in its neighboring countries because it understands how important railroads are for its Belt and Road (BRO) initiative. Moreover, it is hoped that the expansion of the railway network beyond China's borders could create enough business opportunities for railroad companies in many Asian countries.
According to the market predictions, the demand for the railroad market in India is projected to rise at a robust 7.3% CAGR through 2034.
The revival of the Indian railroad industry in recent years can be attributed to increased investments by the federal government to beef up national train logistics. The regional market is experiencing some lucrative growth opportunities with the construction of new rail lines, the extension of current networks, and advancements in rail technology.
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In 2024, the passenger rail segment is estimated to account for 56.7% of the worldwide revenue from sales of railroad equipment.
| Attributes | Details |
|---|---|
| Top Type | Passenger Rail |
| Market Share in 2024 | 56.7% |
The rail transit market is witnessing a significant shift from the freight or logistic sector to the passenger or tourism sector these days. Additionally, the expansion of passenger railroad networks after the introduction of metros and bullet trains is expected to boost the demand in this segment.
As per our industry sales analysis, the agriculture sector is anticipated to be the leading end user with a 33.8% market share in 2024.
| Attributes | Details |
|---|---|
| Top End User | Agriculture |
| Market Share in 2024 | 33.8% |
According to many governments, the railroad network is a cornerstone of their economy, as it helps to transport agricultural produce in bulk through freight rail corridors. Over the coming years, the contribution of the agriculture vertical is anticipated to expand further, particularly in the Asian and African countries.
The greater share of the railroad project supplies is typically entrusted to a very few renowned railroad manufacturers, which consolidates the overall market. New market participants can establish their positions in the global railroad market by releasing innovative products tailored to specific railway tracks and by maintaining product differentiation.
Recent Developments in the Global Railroad Market
In November 2023, BNSF Railway and J.B. Hunt Transport Services Incorporate launched a groundbreaking intermodal service, Quantum, together. Quantum offers the dependability, flexibility, and quickness required for rail-based transit requirements during service-sensitive highway freight transportation. BNSF, the leading intermodal rail provider in North America, aims to meet the needs of customer supply chains through this development.
Hitachi Rail introduced four new products and services in September 2021 as part of its commitment to expand its rail business in North America. The company developed a processor which combines fundamental train control capabilities with next-generation communications, monitoring, and analytics. This new product, ViPro, has been designed to be used for railroad signaling and PTC applications.
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | US$ 311,628.9 million |
| Projected Market Size (2034) | US$ 507,610.6 million |
| Anticipated Growth Rate (2024 to 2034) | 5% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | US$ million or billion for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Type, By End Use, and By Region |
| Key Companies Profiled |
|
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global railroad market is to grow at 5% during the forecast period.
The global railroad market is predicted to be valued at US$ 507,610.6 million by 2034.
The global railroad market was valued at US$ 294,267.1 million in 2023.
SNCF, ALSTOM, and Hitachi are a few leading players in the global market.
India is likely to witness a CAGR of 7.3% through 2034.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2024 to 2034
5.3.1. Rail Freight
5.3.2. Passenger Rail
5.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End-use, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-use, 2024 to 2034
6.3.1. Mining
6.3.2. Construction
6.3.3. Agriculture
6.3.4. Others
6.4. Y-o-Y Growth Trend Analysis By End-use, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By End-use, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Type
8.2.3. By End-use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Type
8.3.3. By End-use
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Type
9.2.3. By End-use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By End-use
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Type
10.2.3. By End-use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By End-use
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Type
11.2.3. By End-use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By End-use
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Type
12.2.3. By End-use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By End-use
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Type
13.2.3. By End-use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Type
13.3.3. By End-use
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Type
14.2.3. By End-use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Type
14.3.3. By End-use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Type
15.1.2.2. By End-use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Type
15.2.2.2. By End-use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Type
15.3.2.2. By End-use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Type
15.4.2.2. By End-use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Type
15.5.2.2. By End-use
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Type
15.6.2.2. By End-use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Type
15.7.2.2. By End-use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Type
15.8.2.2. By End-use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Type
15.9.2.2. By End-use
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Type
15.10.2.2. By End-use
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Type
15.11.2.2. By End-use
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Type
15.12.2.2. By End-use
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Type
15.13.2.2. By End-use
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Type
15.14.2.2. By End-use
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Type
15.15.2.2. By End-use
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Type
15.16.2.2. By End-use
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Type
15.17.2.2. By End-use
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Type
15.18.2.2. By End-use
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Type
15.19.2.2. By End-use
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Type
15.20.2.2. By End-use
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Type
15.21.2.2. By End-use
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Type
15.22.2.2. By End-use
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Type
15.23.2.2. By End-use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Type
16.3.3. By End-use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Central Japan Railway Company
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. SNCF Group
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Union Pacific Corporation
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. OAO RZD (Russian Railways)
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. BNSF Railway
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Indian Railways
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Deutsche Bahn
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. JSC Russian Railways
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. CSX Corporation
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. SBB Cargo
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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