At 3.2% CAGR, the Middle East & Africa Rolling Stock Management Market is Projected to be worth US$ 2,641.85 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa rolling stock management market was valued at US$ 2,185.68 million in 2022 and is expected to reach US$ 2,641.85 million by 2028, registering a CAGR of 3.2% from 2022 to 2028. Expansion of rail industry and rising safety and security concerns regarding rail infrastructure are the critical factors attributed to the Middle East & Africa rolling stock management market expansion.

The demand for improved transport services is growing rapidly across the region. As per the International Energy Agency (IEA), compared to 2019, passenger and freight activities are expected to double by 2050. Per The World Bank Group, railways are considered among the most efficient ways to transport passengers and freight. Due to growing transport activities, the World Bank Group is investing in the development of the rail industry to make it more efficient. Many organizations are extending their support to governments of various developing countries in reforming the railway infrastructure and incorporating railways into a country's transportation network. In addition, governments of developing countries are investing to boost their railway industry. In addition, in January 2022, the Investment Minister of Saudi Arabia announced the country's target to expand the rail network by 8,000 km. The rolling stock management system helps to improve the optimal performance of rolling stock. The rise in expansion and development of the rail industry is creating a demand for rolling stocks such as locomotives, freight cars, and passenger trains, which further boosts the demand for an efficient rolling stock management system.

On the contrary, limited use of rolling stock for transportation hurdles the growth of Middle East & Africa rolling stock management market.

Based on management type, the Middle East & Africa rolling stock management market is bifurcated into rail management and infrastructure management. The rail management segment held 63.2% market share in 2022, amassing US$ 1,380.94 million. It is projected to garner US$ 1,559.04 million by 2028 to expand at 2.0% 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 Middle East & Africa rolling stock management market is categorized into corrective maintenance, preventive maintenance, and predictive maintenance. The corrective maintenance segment held 53.5% share of Middle East & Africa rolling stock management market in 2022, amassing US$ 1,169.28 million. It is projected to garner US$ 1,382.07 million by 2028 to expand at 2.8% CAGR during 2022-2028.

Based on country, the Middle East & Africa rolling stock management market has been categorized into South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 28.6% share of Middle East & Africa rolling stock management market in 2022. It was assessed at US$ 624.50 million in 2022 and is likely to hit US$ 806.05 million by 2028, exhibiting a CAGR of 4.3% during 2022-2028.

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

- In Nov 2022, Alstom and SMRT Trains collaborated to explore using 3D-printed spare parts and innovations for enhanced rail operations and maintenance.

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