Rolling Stock Market to Grow at a CAGR of 4.1% over 2025 to 2032; Growing Shift Toward Sustainable Transportation to Fuel Market Growth

The global rolling stock market size was valued at USD 52.11 billion in 2024. The market is projected to grow from USD 53.57 billion in 2025 to USD 70.87 billion by 2032, exhibiting a CAGR of 4.1% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Rolling Stock Market Size, Share & Industry Analysis, By Type (Locomotive, Passenger Carriages, and Wagons), By Application (Passenger and Freight), By Propulsion (ICE and Electric), and Regional Forecast, 2025-2032”.

The rolling stock comprises powered and unpowered rail vehicles such as including passenger carriages, wagons, and locomotives, featuring key systems such as propulsion, braking systems, HVAC, and communication. The global shift toward sustainable transportation is fueling the demand for products that meet environmental standards.

Centralny Port Komunikacyjny Signed an agreement to Establish a Rolling Stock Pool

Centralny Port Komunikacyjny (CPK) inked a business deal in February 2025 to develop a PLN 8.7
billion (USD 2.19 billion) High-Speed Rail (HSR) rolling stock pool. The initiative, targeting completion by 2032, would support long-term train leasing to operators and will be financed through commercial capital, debt financing, and bond issuance.

Rising Urbanization and Expanding Urban Rail Networks to Drive Market Growth

The rising demand for urban rail transit, fueled by rapid urbanization and sustainability, is a key driver of the market. Governments in emerging economies are heavily investing in metro, high-speed rail, and light rail systems. China plans to expand its high-speed rail network to 38,000 Km by 2025, while India’s metro projects continue to grow under the Smart Cities Mission. These developments, coupled with increasing government support, are set to boost rolling stock market growth. 

However, strict regulations and intense industry competition drive cost optimization, posing challenges for manufacturers and impacting profitability.

Industry Participants Focus on Partnerships to Maintain a Competitive Edge

Leading players in the rolling stock market include Alstom, Siemens Mobility, GE Transportation, Wabtec Corporation, CRRC Corporation Limited, and Hyundai Rotem Company. These companies emphasize innovation, strategic alliances, and expansion to maintain a competitive edge. Siemens Mobility secured a USD 3.31 billion contract in January 2023 to supply 1,200 locomotives to Indian Railways, with 35 years of maintenance.

List of Key Players Mentioned in the Report:

• CRRC Corporation Limited (China)
• Alstom SA (France)
• Siemens Mobility (Germany)
• Hyundai Rotem Company (South Korea)
• GE Transportation (U.S.)
• Wabtec Corporation (U.S.)
• Hitachi Rail Limited (U.K.)
• CJSC Transmashholding (Russia)
• Stadler Rail Ag (Switzerland)
• Kawasaki Railcar Manufacturing Co., Ltd. (Japan)
• Skoda Transportation (Czech Republic)
• CAF, Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/rolling-stock-market-102990

Key Industry Development:

• January 2025: Chennai Metro advanced its Phase 2 development by receiving three bids for the ARE04A rolling stock contract from Alstom, BEML, and Titagarh Rail Systems. The contract involves designing, manufacturing, and delivering 32 three-coach trains, each accommodating 980 passengers, with speeds up to 90 km/h. The project includes a 15-year maintenance agreement, testing, and staff training.

Further Report Findings:

• Asia Pacific captures the key rolling stock market share and is projected to grow at a CAGR of 4.0% during the study period. Governments in the region are investing heavily in train electrification for environmental and economic benefits. India aims for full railway electrification by 2024 and zero emissions by 2030, with 3,375 RKM electrified in 2022-2023. China launched a fully electrified bullet train in Tibet in 2021 and allocated USD billion for rail expansion. The Five-year Plan (2016-2020) set a target of 30,000 km of high-speed rail, connecting 80% of major cities.       
• In 2024, North America’s rolling stock market thrives on increasing investments in rail modernization and sustainable transport. The demand for high-speed trains, efficient freight networks, and eco-friendly solutions, including electric and hybrid trains, is surging. Government policies and industry partnerships accelerate infrastructure upgrades, improving connectivity and economic growth.   
• The European market is fueled by investments in fleet modernization, sustainability initiatives, and high-speed rail. Governments are prioritizing electric and hydrogen-powered trains to cut emissions, supported by EU infrastructure funding. In October 2024, CPK received PLN 162 million (USD 41.3 Million) from the European Commission’s CEF program to design a 155 Km rail section in Poland, strengthening intercity connectivity and infrastructure.

Table of Segmentation