Rolling Stock Management Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, Netherlands, China, Japan, India, Australia, Thailand, South Korea, Indonesia, Brazil, Mexico, Argentina, , Saudi Arabia, Qatar, UAE, Egypt, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3524
Rolling Stock Management Market size is poised to grow at a lucrative CAGR in the coming years propelled by requirement for efficient and reliable information for maintaining and inspecting stocks. Industry players mostly focus on the management of a wide range of services including traffic management, rail asset, analytics, and rail control and security for ensuring significant reduction in operation downtime and improvements in cost optimization. Moreover, the incorporation of railway analytics along with multiple software for managing rolling stock are expected to significantly boost the rolling stock management market size.
The rolling stock management combines the associated services and advanced solutions for enhancing the asset failure implications that are leading to the utilization and maintenance of railway infrastructure. The rolling stock management market leverages an integration and combination of technology, greater intelligence and planning to control the power of data to manage the solutions related to the rolling stock assets. The assets can be managed through proper inspection and monitoring that enhances the performance and operational efficiencies.
The railway industry is in the verge of carrying out significant optimization of its operations and rolling stock for improving the services offered to the customers. Moreover, the expansion of freight operations in trains coupled with increasing preference for trains to carry cargo and goods to long distance over trains are positively influencing the rolling stock management market share. Industry players are also focused on launching new passenger trains with increased seating capacities for improving the railway profitability. For instance, in June 2019, Alstom showcased its Acela Express train offering around 30% more capacity compared to the traditional Acela trains with top speed of 300 kmph.
Technological advancements in railway sector to operate efficiently within the existing infrastructure is projected to witness a significant growth over the study timeframe. The incorporation of predictive analytics, smart ticketing solutions, along with passenger information systems are contributing towards significant reduction in overall railway departure time. Moreover, the proliferation of AI and integration of bigdata and machine learning technologies are expected to significantly improve the maintenance and repair of trains.
Based on rail management, the rolling stock management segment is segmented into remote diagnostic, wayside, train, asset, and cab advisory management. The remote diagnostics segment is anticipated to account for a significant share owing to the ability to offer wide range of railway information including controls, components, and entire train system. Moreover, the system is also capable of processing and offer significant data analysis of the train status. Industry players are entering into strategic partnerships with railway authorities to incorporate such systems in their trains. For instance, in July 2018, Trimble announced the implementation of railway asset solution including remote diagnostics solutions to the Chennai Metro Rail Ltd. (CMRL) for offering real time status monitoring and fleet management.
Based on infrastructure, the rolling stock management market is categorized into control room management, station management, and automatic fare collection management. The automatic fare collection is expected to showcase significant growth over the projected timeframe owing to the benefits of integrated ticketing capabilities, thereby reducing significant time of consumers. Industry players are introducing advanced ticketing solutions for easing the consumer ticketing process. For instance, in March 2019, Bharat Electronics launched SWAGAT automatic fare collecting system for the Delhi Metro Rail Corporation (DMRC).
Based on maintenance, the rolling stock management market can be classified into corrective maintenance, preventive maintenance, and predictive maintenance. The predictive maintenance is expected to witness growth owing to maximizing the intervals of repairing while minimizing the cost to avoid the system failures. The system offers greater safety, along with a reduction in equipment and labor cost. Several industry players are engaged in joint ventures for predictive maintenance of trains to minimize the maintenance cost of operators. For instance, in September 2018, Nokia entered into a strategic partnership with Altran to develop a streamlined and predictive maintenance solution of rolling stocks for railway operators.
Europe is expected to account for a significant share in the rolling stock management market. This can be credited to the advancements in railway technologies along with focus on innovative solutions for prolonging the life cycle of rolling stocks. Industry players are also engaged in long term maintenance contracts for ensuring optimum performance of rolling stocks. For instance, in July 2018, Nuovo Trasporto Viaggiatori and Alstom signed a strategic contract for offering maintenance and repair services for its trains for 30 years.
Few of the major players operating in the rolling stock management market share include Bombardier, Alstom, Siemens, Mitsubishi Heavy Industries, Hitachi, TalgoConstrucciones Y Auxiliar De Ferrocarriles, Thales Group, ABB, Trimble, and Transmashholding. Long term contracts and partnerships are among the key strategies adopted by industry players to enhance their business share. For instance, in September 2016, General Electric and Rio Tinto signed a strategic contract in the Pilbara region of Western Australia for providing maintenance services and support for its trains.
Rolling Stock Management Market, By Rail Management, 2013 - 2025 (USD Million)
- Remote Diagnostic Management
- Wayside Management
- Train Management
- Asset Management
- Cab Advisory
Rolling Stock Management Market, By Infrastructure Management, 2013 - 2025 (USD Million)
- Control Room Management
- Station Management
- Automatic Fare Collection Management
Rolling Stock Management Market, By Maintenance, 2013 - 2025 (USD Million)
- Corrective Maintenance
- Preventive Maintenance
- Predictive Maintenance
The above information has been provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- General Electric
- Mitsubishi Heavy Industries
- TalgoConstrucciones Y Auxiliar De Ferrocarriles
- Thales Group
- Tech Mahindra
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