Rolling Stock Management Market Introduction
The rolling stock management system is utilized to manage information and keep record of the rolling stock. The rolling stock management system logs the maintenance, inspection, and breakdown history of the rolling stock and also helps manage and maintain these records for future inspections. The rolling stock management system enables cost-effective operation and also reduces the time required for transit. Railways are gaining traction, as it is a prominent mode of sustainable mobility owing to its significantly low carbon emission.
Rolling Stock Management Market - Competitive Landscape
In February 2017, Ansaldo STS presented ERSAT and ERSAT EAV projects. ERSAT was a new-generation signaling project that interfaced and integrated the European Rail Traffic Management System (ERTMS) with navigation and satellite positioning technology for the first time in Europe. This would be a breakthrough project for Ansaldo STS, as it has employed satellite technology for controlled and safe management of rail traffic on secondary conventional lines, local lines, and regional lines for the first time in Europe.
In February 2016, Siemens signed a contract with the Riyadh Corporation, becoming a technology provider for the world’s largest subway project. For this project, Siemens AG has agreed to supply the entire turnkey system for two driverless metro lines in Riyadh, the capital of Saudi Arabia. This project consists of six rail lines with a total length of 175 kilometers.
Founded in 1928, Alstom S.A. with headquarters in Saint-Ouen, France, is a leading company that specializes in integrated transport systems. It offers a complete range of solutions from high-speed trains to metros, tramways, and e-buses; passenger solutions; customized services (such as maintenance, modernization); and infrastructure, signaling, and digital mobility solutions.
Established in 1910, Hitachi, Ltd. with headquarters in Tokyo, Japan, is a leading manufacturer of rolling stock, signaling, services, and turnkey. The company’s rail systems have presence in 27 countries and are manufactured in 11 countries worldwide. In 2018, Hitachi Ltd., Ansaldo ATS, and Mitsubishi Corp signed a MoU with Metro de Panama for the supply of vehicle and systems for the Panama metro Line 3. Hitachi Ltd. would supply 28 six-car monorail trainset. Ansaldo STS is projected to supply signaling, telecoms, and power supplies. Japan International Co-operation Agency has provided a 20-year loan for the expenditure.
Siemens AG is a global company that provides powerhouse services in the areas of electrification, automation, and digitization. The company operates through eight business segments: power & gas, wind power & renewables, energy management, building technologies, mobility, digital factory, and process industries & drives.
Rolling Stock Management Market Dynamics
Rise in passenger and freight traffic driving rolling stock management market
Rising number of freight and passengers across the globe is a major factor boosting the rolling stock management market. Furthermore, an increase in production and sales of goods along with increase in import and export of goods from one location to another is further driving the global market. Demand for rolling stock management is increasing due to delays in delivery and loss of goods during transit.
High initial investment cost restraining the market
High initial investment required to adopt the rolling stock management system is a key factor restraining the market. This is likely to be a major restraint to the rolling stock management market during the forecast period. Moreover, various countries are still utilizing conventional fuel-powered trains, such as diesel powered and coal powered locomotives, which are harmful for the environment. They are expected to be banned during the forecast period. This, in turn, is estimated to restrain the rolling stock management market
Rolling Stock Management Market Segmentation
Based on application, the rolling stock management market can be segmented into
Based on management type, the rolling stock management market can be classified into
Based on maintenance service, the rolling stock management market can be divided into