Rail infrastructure refers to the foundation that supports the transport system. Rail infrastructure connects railway stations, ports, and airports. The railway system is a vital driver of social and economic development that generates opportunities for the poor and facilitates economies that increase competitiveness. Rail infrastructure connects individuals to jobs, health services, and education on a daily basis. It facilitates the supply of goods and services globally.
The key driver that boosts the rail infrastructure market is increase in demand for transportation due to rapid globalization. In addition, the rapidly aging transport infrastructure is likely to drive the rail infrastructure market globally. Old urban transport systems can no longer cope with present requirements. Moreover, natural catastrophes such as earthquakes and landslides have led to the destruction of infrastructure in some areas. To address these problems and meet requirements, governments and investors are investing large amounts of money in infrastructure projects.
At present, the rail infrastructure market is trying to adopt new technologies. Rapid population growth has led to a rise in traffic and is creating robust demand for additional rail infrastructure. However, many nations lack sufficient capital or space to build additional roads and railways. Rapid urbanization along with the changing climate has raised critical concerns and has led to increased R&D to rethink new rail systems. This has encouraged new technological improvements such as Maglev trains, metro trains, mono rails, light rails, and hyper loop.
Global concerns such as global warming, increasing fuel prices, and shrinking resources have led to the emergence of green transport in several countries. In addition, major economies are encouraging the adoption of green transport infrastructure such as electric vehicles (EVs), electric motorcycles, rail transport, and mass rapid transit (MRT).
The global rail infrastructure market can be segmented based on infrastructure, type, and region. In terms of infrastructure, the rail infrastructure market can be classified into rail network and two other segments. The increase in population in urban areas is anticipated to fuel the rail network segment in the near future. Increase in rail traffic is expected to boost investments in rail and rail track maintenance. Based on type, the rail infrastructure market can be divided into locomotive, rapid transit vehicle, and railcar. Locomotives are traditionally used to haul freight and passenger wagons for long distance main line transport. However, vehicles such as metros, light rail vehicles, and subways are being used for intra-city as well as intercity transportation. The expansion of the rail infrastructure market can be attributed to factors such as rise in global population, increasing urbanization, rising need for cleaner and faster modes of transportation, and economic growth.
In terms of region, the rail infrastructure market can be categorized into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region comprises emerging and developing economies such as India, China, Japan, and South Korea. The region is experiencing a considerable growth in population. The rolling stock industry in the region is witnessing a rise in demand after a weak performance during the global recession. Global OEMs are investing in this region, following new market opportunities. Increasing urbanization, reduction of road congestion, and technological advancements in rolling stocks are driving expansion of the rolling stock infrastructure industry in Asia Pacific.
Key player operating in the rail infrastructure market are CSR Corporation Ltd, Kawasaki Heavy Industries Ltd., GE Transportation, Bombardier Inc., Alstom SA, Siemens AG, and others.
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