The Train And Components Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Train And Components Global Market Report 2024, The train and components market size has grown strongly in recent years. It will grow from $227.02 billion in 2023 to $246.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to economic conditions, urbanization, government investment, environmental concerns.
The train and components market size is expected to see strong growth in the next few years. It will grow to $330.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to high-speed rail expansion, sustainable transport, electrification, freight rail expansion, regulatory compliance. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
Economic growth and a rapidly growing urban population are expected to increase the demand for new trains and components manufactured during the forecast period. Urbanization increases the demand for luxurious items among the population. Globally, approximately 60% of urban settlements remained unbuilt. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam, and the Philippines, which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, the urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the growth of the train and component manufacturing markets.
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The train and components market covered in this report is segmented –
1) By Type: Parts & Accessories For Railway Vehicles; Locomotives, Wagons, & Other Rolling Stock
2) By Train Type: Metro; Light Rail; Bullet Train/HSR
3) By Application: Passenger; Freight
Subsegments Covered: Train Motors; Train Wheels; Train Doors; Train Bogies; Train Brake System; Other Parts & Accessories For Railway Vehicles
The train and components market report table of contents includes:
- Executive Summary
- Train And Components Market Characteristics
- Train And Components Product/Service Analysis -Product/Service Examples
- Train And Components Market Trends And Strategies
- Train And Components Market – Macro Economic Scenario
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- Global Train And Components Market Competitive Benchmarking
- Global Train And Components Market Competitive Dashboard
- Key Mergers And Acquisitions In The Train And Components Market
- Train And Components Market Future Outlook and Potential Analysis
- Appendix
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