LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the rolling stock market in North America is expected to reach USD 8.07 billion by 2021, growing at a CAGR of more than 4%.
This research report titled ‘Rolling Stock Market in North America 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The rolling stock market in North America is expected to grow steadily during the forecast period. The US is a major revenue contributor to the market, since most of the vendors are from the US, followed by Canada, Mexico, and other countries. There is a huge demand for locomotives and railcars in North America. The vendors in this market have enhanced their production capacity depending upon the market demand by increasing investment in innovation and setting up new manufacturing units.
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Technavio’s transportation and logistics research analysts categorize the rolling stock market in North America into the following segments by product. They are:
- Rapid transit vehicles
- Railroad cars
Rapid transit vehicles
The rapid transit vehicles include high-speed trains, LRV (Light Rail Vehicle), EMU (Electric Multiple Unit), DMU (Diesel Multiple Unit), and metro vehicles. This segment is expected to witness the highest growth rate during the forecast period. Rapid transit vehicles are usually found in the major cities of North America, like New York, San Francisco, and Washington.
According to Sharan Raj, a lead logistics research analyst from Technavio, “The key vendors are trying to set up their manufacturing units in the US since the country's government is taking many initiatives to establish a high-speed rail. The government initiatives, such as balanced regulation and liberalized taxation, will make the US an attractive spot for the vendors.”
The railroad cars include passenger coaches and freight wagons. The freight wagons are mostly used to transport goods and commodities in industries across North America. The growing industry and increasing public transport corporation are expected to raise the demand in this segment.
“The most commonly used freight cars on the North American railroads are Box, gondola covered, gondola uncovered, hopper covered and uncovered, and flat and refrigerated tanks. By understanding the demands, the vendors are coming up with new freight wagons of high axle strength. The high axle strength helps freight to tolerate heavy load,” says Sharan.
Locomotives are known as train engines. These are self-propelled vehicles used to pull or push passenger coaches or freight wagons on the rail tracks. They are either electric locomotives, diesel locomotives, or diesel-electric locomotives. The electric locomotives are powered by electricity from an overhead wire. The transformer inside converts the electricity into the required mode to run the wheels.
The US railroad considers 26-31 years as the useful life period for locomotives. This results in vendors experiencing either a cycle of over-demand or a phase of no demand throughout their market presence. The demand for this segment in North America is expected to grow steadily during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Freight Car America
- National Steel Car
- The Greenbrier Companies
- American Railcar Industries
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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