Rolling Stock Management Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3524
Rolling Stock Management Market size is slated to record notable growth through 2027, mainly driven by the growing urbanization, which has resulted in an upsurge in the demand for passenger transportation. Moreover, factors like expansion of rail networks and increasing investments in rail infrastructure would further propel the market growth over the span of 2021-2027.
Rolling stock management systems are extensively used for managing information and keeping a track of the rolling stock. These systems record the inspection, maintenance, and breakdown history of the rolling stock while supporting to manage and maintain these records for future inspections.
The rise in the focus on the management of an expansive range of services like analytics, rail assets, traffic management, and rail control and security to reduce operational downtime and augment cost optimization, is likely to accelerate the rolling stock management market growth. Furthermore, proliferation of the cutting-edge technologies, like AI and IoT for rolling stack, would potentially boost the industry progression over the analysis time frame.
However, high capital investment required for the deployment and overhaul of rolling stock management solutions and systems, along with the technological challenges, are the parameters that are expected to restrict the market growth in the coming years. Besides, slow developmental pace in the emerging nations would further challenge the market progression. Nevertheless, surge in industrial activities, and subsequent need for transportation of materials, would bolster the rolling stock management market demand.
Based on the railway management segmentation, remote diagnostic management segment would grow at a stellar growth through 2027, owing to the product’s ability to provide complete information about controls, components, and the entire system of the trains from a range or distance. The management system processes wide data and offers a holistic analysis of the status. It also helps in saving time in maintenance and operations. Alongside, remote diagnostic management helps in rail maintenance management for corrective, predictive, and preventive maintenance planning.
In terms of the maintenance type, predictive maintenance segment is touted to register massive gains in the ensuing years. These services are generally used for space management, time optimization, downtime reduction, inventory management, labor hour reduction, and live monitoring of system health. Major merits associated with predictive maintenance systems include cost efficiency and availability. Meanwhile, they also improve reliability and also cuts down maintenance costs, which ultimately results in improved safety and increased customer satisfaction.
Regionally, Asia Pacific rolling stock management market would witness growth through 2027, due to increased production, capacity expansion by rolling stock producers, and domestic demand. The surge in production helps cope with the increasing demand for rail transportation and concerns associated with fuel-efficiency regulations and policies. Additionally, there is an increase in demand from global markets, this would further augment the product demand in the years to come.
Key players operating in the global rolling stock management market include Siemens AG, Alstom SA, TalgoConstrucciones Y Auxiliar De Ferrocarriles, ABB Ltd., Mitsubishi Heavy Industries, Thales Group, Hitachi, and CJSC Transmashholdin (The Breakers Investments B.V.) amongst others. These companies are adopting long term partnerships and contracts to enhance their business share globally.
COVID-19 impact on rolling stock management market growth
The COVID-19 pandemic crisis is leading to disruptions in the stock market, significantly slowing the supply chain. This has led to a subsequent fall in business statistics and increasing panic among client segments. Furthermore, the trade barriers are as well restraining the demand to supply outlook, while the movement restrictions would produce an imbalance to the global market.
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