At 6.2% CAGR, the North America Rolling Stock Management Market is Projected to be worth US$ 16,361.42 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America rolling stock management market was valued at US$ 11,435.98 million in 2022 and is expected to reach US$ 16,361.42 million by 2028, registering a CAGR of 6.2% from 2022 to 2028. Expansion of rail industry and rising safety and security concerns regarding rail infrastructure are the critical factors attributed to the North America rolling stock management market expansion.             

With the emergence of manufacturing in Industry 4.0, the adoption of automation for mass customizations plays a crucial role in generating large production volumes in a limited amount of time. Robots and machinery help reduce the downtime of the production process, provide accurate results, and eliminate human errors. Therefore, major players in the market are adopting robotics technologies to generate desired accurate results. For instance, the Société nationale des chemins de fer français (SNCF), France's state-owned railway company, uses modern robotics and drone technologies in its maintenance workshop, Atelier 57. The technician in the workshop uses automated guided vehicle (AGV) systems to place the uncoupled carriages and carriage components in the right place. In addition, the robotic sanding machine used in the workshop provides a finish to the surfaces of the train’s equipment. To check the finish, the workshop technician uses drones to inspect the roofs. Such use of robotics provides better maintenance of the rolling stock, which further helps the technician to carry out preventive maintenance to enhance security and safety in the rail industry. Furthermore, several benefits of deploying robotics technologies in rolling stock management systems have encouraged various rail industry players to leverage the advantages of such technology.

Thus, the inclusion of robotics helps for the efficient management of rolling stock in the rail industry, which is expected to fuel the North America rolling stock management market growth during the forecast period.

On the contrary, limited use of rolling stock for transportation hurdles the growth of North America rolling stock management market. 

Based on management type, the North America rolling stock management market is bifurcated into rail management and infrastructure management. The rail management segment held 75.7% market share in 2022, amassing US$ 8,651.58 million. It is projected to garner US$ 11,899.27 million by 2028 to expand at 5.5% CAGR during 2022–2028. The rail management segment is further subsegmented into remote diagnostic management, wayside management, train management, asset management, cab advisory, and others. Additionally, the infrastructure management segment is categorized into control room management, station management, automatic fare collection management, and others.

Based on maintenance service, the North America rolling stock management market is categorized into corrective maintenance, preventive maintenance, and predictive maintenance. The corrective maintenance segment held 48.0% share of North America rolling stock management market in 2022, amassing US$ 5,484.78 million. It is projected to garner US$ 7,583.68 million by 2028 to expand at 5.5% CAGR during 2022–2028.

Based on country, the North America rolling stock management market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that the US captured 82.3% share of North America rolling stock management market in 2022. It was assessed at US$ 9,415.34 million in 2022 and is likely to hit US$ 1,3661.78 million by 2028, exhibiting a CAGR of 6.4% during 2022–2028.            

Key players operating in the North America rolling stock management market are Alstom SA, ABB Ltd, Hitachi Rail Ltd, Mitsubishi Electric Corp, Siemens Mobility GmbH, Talgo SA, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, and Trimble Inc., among others.

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