At 7.0% CAGR, the Asia Pacific Rolling Stock Management Market is Projected to be worth US$ 24,185.59 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific rolling stock management market was valued at US$ 16,093.90 million in 2022 and is expected to reach US$ 24,185.59 million by 2028, registering a CAGR of 7.0% from 2022 to 2028. Expansion of rail industry and rising safety and security concerns regarding rail infrastructure are the critical factors attributed to the Asia Pacific rolling stock management market expansion.

As per the International Energy Agency (IEA), passenger rail activity is expected to reach 15 trillion passenger-km by 2050 due to the rising development of transport systems and rail networks for the better convenience of passengers. Thus, there is a rise in the need for efficient and reliable maintenance and management of the rolling stock to maintain the safety and security of passengers. The management of rail assets and traffic control plays an important role in the rail industry in boosting the security of passengers by avoiding any accidents and derailment situations. Derailment is one of the most common issues in the rail industry. It is an operational error that causes the train to come off the railway track due to the mechanical failure of the tracks or train. Therefore, the rolling stock management system engages in the maintenance of these tracks to avoid such accidents. Preventive and predictive maintenance of rail infrastructure allows the workers to monitor and check the condition of the railway tracks to detect any mechanical error. Predictive maintenance allows the rail industry to be prepared for emergency situations that are caused by the failure of the critical component of the rolling stock. Thus, the benefits of the rolling stock management help to maintain security and safety in the rail industry, which drives the demand for the rolling stock management system and fuels its market growth.

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

Based on management type, the Asia Pacific rolling stock management market is bifurcated into rail management and infrastructure management. The rail management segment held 64.5% market share in 2022, amassing US$ 10,382.81 million. It is projected to garner US$ 14,637.38 million by 2028 to expand at 5.9% 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 Asia Pacific rolling stock management market is categorized into corrective maintenance, preventive maintenance, and predictive maintenance. The corrective maintenance segment held 48.1% share of Asia Pacific rolling stock management market in 2022, amassing US$ 7,735.67 million. It is projected to garner US$ 11,291.02 million by 2028 to expand at 6.5% CAGR during 2022-2028.

Based on country, the Asia Pacific rolling stock management market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 31.1% share of Asia Pacific rolling stock management market in 2022. It was assessed at US$ 5,006.09 million in 2022 and is likely to hit US$ 7,925.78 million by 2028, exhibiting a CAGR of 8.0% during 2022-2028.

Key players operating in the Asia Pacific 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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