According to the report published by MarketsandMarkets named “Rolling Stock Management Market by Management (Rail, Infrastructure), Rail (Remote Diagnostic, Wayside, Train, Asset, Cab Advisory), Infrastructure (Control Room, Station, Automatic Fare Collection), Maintenance Service & Region – Global Forecast to 2025″. According to the report Worldwide Rolling Stock Market is expected to grow from the 42.8 billion US$ of the present time to the 58.4 billion US$ by the year 2025. The CAGR of Rolling Stock Market during that time will be 5.32%. The factors affecting this growth include the focus on increasing the lifecycle of assets, the development of railways infrastructure in the developing countries, expansions and upcoming projects of railways and Cost optimization.
The rail management market in Europe is growing at a fast pace due to the growth of railway connection between China and Europe. In the previously Trans-Siberian railways connected Asia and Europe. The new railway line will connect 35 Chinese cities with the 34 European cities. The extensive railway will require management which will increase will extend the Rolling Stock Management Market. The smart rail transportation will also increase the demand for Rolling Stock Management Market.
The fastest growing Rolling Stock Management Market type is Predictive maintenance. The services of predictive management include the management of inventory, the constant monitoring of the rail system, time management, the reduction of downtime, Reduction of labor hour and spare parts management.
The predictive maintenance offers a couple of advantages over the traditional maintenance which includes the availability of this service as well as the low cost of service. Predictive maintenance makes the service more reliable which ultimately reduces cost thus leading to the increased customer satisfaction. Various sensors are implanted in the rail system which constantly monitors both electrical and mechanical condition of the railways which can improve the performance to a great degree.
According to the estimation, rail management is the fastest growing market. The rail management not only offers better management to the authorities but also help increase the reliability of the system. The increase in connects systems has led to good asset management thus reducing the operation cost of the system. The information that such a system provides also increases the safety and reliability of the train. The advantages that better rail management offers makes it the favored system of authorities.
The product type of rolling stone market is divided into serval types which include (Wagons, Locomotive, Locomotive Propulsion (Diesel and Electrical), Coaches and Rapid Transit (Light Rail, Metro, DMU, and EMU), Technology, Region and Components. Smart fleet management is divided into serval types which includes Connectivity (Long distance, Short distance, and wireless), Hardware (ADAS, tracking of the system, Diagnosis of system and Optimization of the system), Transportation service includes (Rolling Stock, Marine, Automotive). The major players of the business include Hitachi (Japan), Siemens (Germany), Alstom (France), Bombardier (Canada) and ABB (Switzerland). The report covers all the basic information regarding Rolling Stone Market.