Rolling Stock Market in Europe 2019-2023| Adoption of IoT in Railways to Drive Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 27, 2018--Technavio ’s research report on the rolling stock market in Europe forecasts the market to grow at a CAGR of over 2% during the forecast period.
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Technavio has released a new market research report on the rolling stock market in Europe for the period 2019-2023 (Graphic: Business Wire)
The adoption of IoT in railways will be one of the major trends in the during 2019-2023. IoT is being widely used in modern railway systems to control and manage technology and communication systems. The operators obtain real-time data on the condition of the railcar/locomotive components, subsystems, and infrastructure from a large amount of data generated by IoT systems and sensors installed within railway systems. This will boost the reliability of assets, improve cost-efficiency, and promote customer satisfaction.
According to Technavio analysts, one of the key drivers for the rolling stock market in Europe is the introduction of new railway projects:
Rolling stock market in Europe: Introduction of new railway projects
During the forecast period, the major factors that will drive the growth of the rolling stock market in Europe are the investments in railway line projects and the expansion of the railway networks. Many national and cross-country railway projects are currently under planning, development, or construction in this region. This will promote the demand for new locomotives and railroad vehicles.
According to a senior analyst at Technavio for research on transportation and distribution, “Over the next few years, many countries such as Germany, the UK, and France are planning to invest billions of dollars in enhancing domestic and international connectivity and logistics channels. The countries in Europe approved several new railway projects in 2017, which include new lines, the doubling of existing lines, and the electrification of tracks across the region.”
Rolling stock market in Europe: Segmentation analysis
This report on the rolling stock market in Europe provides market segmentation by product (freight cars, passenger transit vehicles, and locomotives) and by region (Western Europe, Eastern Europe, and rest of Europe). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major products, the freight cars segment held the largest rolling stock market share in 2018, contributing to around 76% of the market. This product segment will dominate the market throughout the forecast period.
Western Europe held the largest share of the market in 2018, accounting for more than 58% share. The Eastern Europe region held the least share of the market. Western Europe is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 11/27/2018 12:22 PM/DISC: 11/27/2018 12:22 PM