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Sunday, 23 June 2024
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Europe Rolling Stock Management Market is expected to reach US$ 11,518.65 million by 2030

Europe Rolling Stock Management Market is growing at a CAGR of 5.7% to reach US$ 11,518.65 million by 2030 from US$ 7,377.04 million in 2022 by Management Type, and Maintenance Service.

By The Insight Partners

Growing Adoption Of Real-Time Management Solutions Boosting Rolling Stock Management Market Growth

According to our latest market study on "Europe Rolling Stock Management Market Forecast to 2030 –Regional Analysis – by Management Type and Maintenance Service," the market is expected to grow from US$ 7,377.04 million in 2022 to US$ 11,518.65 million by 2030; it is anticipated to grow at a CAGR of 5.7% from 2022 to 2030.

The growing adoption of real-time management solutions is a significant driver of the rolling stock management market in Europe. Real-time management solutions provide rail operators with up-to-the-minute information about the status and location of their rolling stock. This real-time data allows for more efficient scheduling, route optimization, and resource allocation. As a result, rail operations can run smoothly, reducing delays and improving overall efficiency. Real-time monitoring extends to safety-critical systems on trains. Operators can receive instant alerts in case of anomalies or malfunctions, allowing for a swift response to potential safety risks. This proactive approach enhances passenger safety and prevents accidents. Real-time solutions provide a wealth of data that can be used for data-driven decision-making. Operators can analyze this data to identify trends, optimize operations, and plan for future investments in rolling stock. Thus, the growing adoption of real-time management solution is anticipated to offer lucrative opportunities for the rolling stock management market growth.

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The desire for safety improvements, operational excellence, passenger satisfaction, and compliance with regulations drives the adoption of real-time management solutions in Europe. These solutions empower rail operators to make informed decisions, optimize resources, and provide a high-quality travel experience. Thus, all the factors mentioned above positively influence the overall rolling stock management market outlook.

Investments in the modernization and expansion of Poland's railway infrastructure are driving the rolling stock management market share of the country. The updated Polish National Railway Program, spanning until 2030, plays a significant role in the growth of the Poland rolling stock management market share. The substantial investment of US$ 46.32 billion in the new rail strategy, including ongoing and future projects, indicates the government's commitment to modernize the country's rail infrastructure. As rail infrastructure is modernized and expanded, the demand for efficient rolling stock management systems and services will likely increase. The substantial investment of US$ 20.72 billion for 2021–2027 signifies the commitment to railway development. This period will likely witness further advancements in rolling stock management systems and technologies. The allocation of US$ 2.92 billion under the National Reconstruction Plan (KPO) indicates that rail infrastructure is a priority for the government's economic recovery efforts. Effective rolling stock management can play a crucial role in ensuring that these investments translate into efficient rail services. The updated railway program, with its substantial investments and long-term perspective, is expected to drive the demand for rolling stock management systems in Poland. It reflects a commitment to improving rail infrastructure, safety, and efficiency, making it favorable for companies operating in the rolling stock management market.

Alstom SA, Hitachi Rail Ltd, ABB Ltd, Mitsubishi Electric Corp, Siemens Mobility GmbH, Talgo SA, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, Trimble Inc, and LocoTech LLC are among the major rolling stock management market players operating in the market. Many key rolling stock management market players are investing in rolling stock management owing to the potential improvements related to accuracy, operational efficiency, and timely order fulfillment of the rolling stocks.

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