The North America Rolling Stock Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030).
The exploration of autonomous and semi-autonomous train technologies is gaining momentum. Advanced control systems, artificial intelligence, and automation are implemented to enhance safety, optimize operations, and reduce human error. Autonomous trains have the potential to revolutionize freight transport, enabling more precise and responsive logistics operations. These stocks manufacturers increasingly focus on customization and modular design to meet diverse market needs. Modular components allow for flexibility in design, making it easier for operators to tailor trains for specific purposes. This approach enhances efficiency, facilitates easier maintenance, and extends the lifespan of these stocks.
Magnetic levitation (maglev) technology represents an innovative trend in rolling stock. Maglev trains, which levitate above tracks using magnetic forces, offer the potential for extremely high-speed travel with minimal friction. While not yet widely adopted, ongoing research and development suggest that maglev technology may play a more significant role in the future of rail transport. Improving the passenger experience is a growing trend in the market. Modern trains are designed with a focus on comfort, accessibility, and entertainment. Features like Wi-Fi connectivity, charging stations, and improved seating arrangements make train travel more appealing to passengers.
E-commerce has led to a substantial increase in the volume of goods transported across North America. E-commerce logistics relies heavily on intermodal transportation, where goods are seamlessly transferred between different modes of transport, including trains and trucks in North America. The Mexican Online Sales Association estimates that the domestic e-commerce sector was worth USD 19.7 billion in 2021, an increase of 27% over 2020. In 2021, there were 57.5 million users of Mexican eCommerce, up 11% from the previous year. In 2020, women made up 51% of Mexican eCommerce users. Similarly, as per the International Trade Administration, in 2022, there were more than 27 million e-commerce users in Canada, or 75% of the population. By 2025, this percentage is projected to increase to 77.6%. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Rolling Stock Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $13,569.2 Million by 2030. The Canada market is experiencing a CAGR of 7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.1% during (2023 - 2030).
Free Valuable Insights: The Rolling Stock Market is Predict to reach USD 81.3 Billion by 2030, at a CAGR of 5.2%
Based on Type, the market is segmented into Diesel, and Electric. Based on Product, the market is segmented into Wagon, Rapid Transport, and Locomotive. Based on Train Type, the market is segmented into Rail Freight, and Passenger Rail. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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