Railway Equipment Market expected to reach US$120.457 billion by 2030

railway equipment market

Railway Equipment Market Trends & Forecast

The railway equipment market is estimated to reach USD 120.457 billion by 2030, registering a CAGR of 4.10% from 2025 to 2030, according to a new report by Knowledge Sourcing Intelligence. The market is propelled by 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

There is increasing investment in railway infrastructure in various countries to meet the demand for transportation and to have a robust network of rails in their country. The widespread use of railways as a mode of transportation is the main factor that is driving investment in this sector by the government. Also, there is increasing technological advancement in the rail systems such as high-speed rails, urban transit systems, Electric multiple units and others.

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.

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Railway Equipment Market Report Highlights

  • Rolling Stock led the market in 2023, capturing the largest and dominant market due to its broad scope and critical role in rail operations.
  • The railway infrastructure is growing at a robust rate due to massive investment in the railway.
  • Locomotives are growing at a higher rate, with a shift towards energy-efficient and autonomous locomotives. 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.
  • 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.
  • There are growing technological advancements in rail systems.  Urban transit systems, such as metros and light rail, cater to densely populated areas by offering frequent and reliable transportation. Electric multiple units (EMUs) are widely used in metro networks due to their efficiency and ability to handle frequent stops over short distances.
  • Asia Pacific will be the fastest-growing market during the forecast period, driven by huge population, industrialization and urbanization and investment in railways in countries like China and India.
  • North America is anticipated to see considerable growth, fueled by a continuous rise in consumer demands, better passenger safety measures, and technology and operational breakthroughs that have also contributed to passenger train services in the region.

Railway Equipment Market Segmentation

Knowledge Sourcing Intelligence has segmented the global Railway Equipment Market based on product type, application, and region:

Railway Equipment Market, By Type

  • Rolling Stock
  • Infrastructure
  • Components
  • Others

Railway Equipment Market, By Application

  • EMU
  • DMU
  • Locomotives
  • Coaches
  • Others

Railway Equipment Market, By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE

Railway Equipment Market Key Players

  • 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