Global Railway Equipment Market Size, Share, Opportunities, And Trends By Type (Rolling Stock, Infrastructure, Components, Others), By Application (EMU, DMU, Locomotives, Coaches, Others), And By Geography - Forecasts From 2025 To 2030

The global railway equipment market is expected to grow at a CAGR of 4.10%, reaching a market size of US$120.457 billion in 2030 from US$98.532 billion in 2025.

The railway equipment market includes a wide range of products and services required for building, operating, and repairing rail networks. They encompass locomotives, passenger coaches, freight vehicles, signals, track components, and maintenance equipment. Passenger and goods train operators apply these techniques for safe, efficient, and reliable operations. The "strong growth" of the market can be explained against the backdrop of increased urbanization, demand for cleaner and more efficient transportation, and government investments in infrastructure development. Technological improvements like the advent of automation and electrification are poised to advance market development by improving operational efficiencies and addressing safety needs.

What are the global railway equipment market drivers?

• The growing travel & tourism sector is contributing to the global railway equipment market expansion

The major factors boosting the global railway equipment market expansion are rapid growth, development, and travel and tourism industries in different developing economies worldwide, which have their roots in economic growth and a growing middle-class population. A growing demand for increased linked railway infrastructure is needed to support the emerging transport and tourism industries, leading to a greater need for locomotives, affiliated coaches, and other relevant infrastructure.

Moreover, a booming rail freight transport linked with increased investments in constructing or improving existing rail infrastructure among the top developing countries in the world is anticipated to uplift market growth within the forecast period.

• Expanding railways in remote networks is anticipated to increase the demand

Rail transport is gaining acceptability due to economic benefits, safety benefits, and ease of access to a larger part of the population, driving its adoption in developed and emerging economies worldwide. Furthermore, government investments in the railway industry to capitalize on possible chances for better revenue gains are expected to fuel the market's growth. Moreover, expanding railway networks to more remote places to connect rural and urban areas will raise the demand for additional trains and related railway equipment, greatly contributing to market growth during the foreseeable period.

• Increasing investment is also increasing the market expansion

One of the primary factors driving global railway equipment market expansion is rising expenditure in the railway industry by various countries to increase income from this sector. Furthermore, the widespread use of railways as a mode of transportation is driving investments in developing and improving existing infrastructure and equipment, supplementing demand for various types of railway equipment and contributing to market growth in the coming years. According to the Interim Budget 2023-24, a capital outlay of Rs. 2.55 lakh crore (US$ 30.72 billion) was allocated for railways, representing a 5.8% increase over the previous year. Additionally, the total revenue of Indian Railways for fiscal year 2023-24 was US$ 28.89 billion (Rs 2.40 lakh crore). On March 15th of the previous year, total revenue was $26.84 billion (Rs 2.23 lakh crore).

• Technological advancements in rail systems are anticipated to increase the market growth

Conventional rail systems are often standard railways for passengers or freight, serving as foundations for most countries' and regions' rail networks. Diesel and electric locomotives commonly allow passengers to carry freight for many networks. They are high-speed rails built specifically for fast movement, where trains would move at speeds greater than 250 kilometers per hour (155 miles per hour). These systems are built around rapid, efficient, and comfortable long-distance travel between major cities, in which traveling time is vastly reduced. Specially constructed for such expeditious services, high-speed passenger coaches provide improved safety and comfort.

Urban transit systems, including metros and light rail, are designed to regularly transport urban and suburban passengers. These are built to run very well in densely populated areas, offering frequent and reliable service. Electric multiple units (EMUs) are everywhere drawn up in a metro system, mostly because of their high efficiency and capability to work under many stoppages within a very short range.

 The global railway equipment market is analyzed in the following segments:

• By application, locomotives are anticipated to grow during the forecast period

The locomotive is an essential component of the train system; it is a special vehicle that powers the entire train set. It refers to a self-contained rail car fueled by either gasoline or electricity. The function of this equipment is to push or pull trains to facilitate the translocation of goods and passengers. Autonomous trains are progressing as a new method of improving train usage in cities and urban areas, which is still reliable. Real-time data transmission systems and superior sensor technology are driving the development of autonomous trains in the locomotive business.

Geographical outlook of the global railway equipment market:

• North America is witnessing exponential growth during the forecast period.

North America is expected to continue leading the forecast period; as per the Association of American Railroads, freight rail contributes significantly to the American economy. The State provides an unmatched freight rail network worldwide. Increased investment in equipment, infrastructure, and technology continues to develop freight rail in the nation. The continuous rise in consumer demands, better passenger safety measures, and technology and operational breakthroughs have also contributed to passenger train services in the region.

Key launches in the global railway equipment market:

• In November 2024. Alstom, a global leader in smart and sustainable mobility, participated in Rail Live! 2024, which was held in Zaragoza on November 26 and 27. Rail Live 2024, conducted only as a congress edition this year, is Spain's largest railway sector meeting, with experts and professionals discussing the industry's present and future. Alstom will pay special attention to the difficulties and needs of Spanish cities, focusing on the future of urban mobility driven by digitization, energy efficiency, sustainability, and increased urbanization.
• In September 2024, Alstom announced a €63 million commitment to improve Italy's railway infrastructure and sustainability. Alstom's €63 million investment plan for 2024-2026 intends to improve Italy's rail infrastructure by implementing sustainable innovations such as hydrogen trains and expanding production capacity across various sites.

Global railway equipment market scope:

Report Metric	Details
Railway Equipment Market Size in 2025	US$98.532 billion
Railway Equipment Market Size in 2030	US$120.457 billion
Growth Rate	CAGR of 4.10%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Type Application Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Railway Equipment Market	CRRC Corporation Limited Siemens Alstom HYUNDAI MOTOR GROUP Wabtec Corporation
Customization Scope	Free report customization with purchase

 

The global railway equipment market is analyzed into the following segments:

• By Type
  • Rolling Stock
  • Infrastructure
  • Components
  • Others
• By Application
  • EMU
  • DMU
  • Locomotives
  • Coaches
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View 

5.  GLOBAL RAILWAY EQUIPMENT MARKET BY TYPE

5.1. Introduction

5.2. Rolling Stock

5.3. Infrastructure

5.4. Components

5.5. Others

6.  GLOBAL RAILWAY EQUIPMENT MARKET BY APPLICATION

6.1. Introduction

6.2. EMU

6.3. DMU

6.4. Locomotives

6.5. Coaches

6.6. Others

7.  GLOBAL RAILWAY EQUIPMENT MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type

7.2.2. By Application

7.2.3. By Country

7.2.3.1. USA

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Type

7.3.2. By Application

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Type

7.4.2. By Application

7.4.3. By Country

7.4.3.1. United Kingdom 

7.4.3.2. Germany 

7.4.3.3. Italy

7.4.3.4. Spain

7.4.3.5. Others

7.5. Middle East and Africa

7.5.1. By Type

7.5.2. By Application

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. Israel

7.5.3.3. Others

7.6. Asia Pacific

7.6.1. By Type

7.6.2. By Application

7.6.3. By Country

7.6.3.1. Japan

7.6.3.2. China 

7.6.3.3. India

7.6.3.4. Australia

7.6.3.5. South Korea

7.6.3.6. Taiwan

7.6.3.7. Thailand

7.6.3.8. Indonesia

7.6.3.9. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. CRRC Corporation Limited

9.2. Siemens

9.3. Alstom 

9.4. HYUNDAI MOTOR GROUP

9.5. Wabtec Corporation

9.6. Mitsubishi Electric Corporation

9.7. Kawasaki Heavy Industries, Ltd.

9.8. Hitachi Rail Limited

9.9. voestalpine Railway Systems GmbH

9.10. Escorts Limited

9.11. Bombardier

9.12. Advanced Rail Management

9.13. Enviri

9.14. Trinity Industries

9.15. Rail Vikas Nigam Ltd

CRRC Corporation Limited

Siemens

Alstom 

HYUNDAI MOTOR GROUP

Wabtec Corporation

Mitsubishi Electric Corporation

Kawasaki Heavy Industries, Ltd.

Hitachi Rail Limited

voestalpine Railway Systems GmbH

Escorts Limited

Bombardier

Advanced Rail Management

Enviri

Trinity Industries

Rail Vikas Nigam Ltd