UK (Commonwealth Union)_ In the next five years, a new research predicts that the worldwide rail supply industry would grow by about 20%. Following the announcement, market volume would surge above the €200 billion milestone as it recovered from the -19 period.
An essential part of industrial development, employment opportunities, and innovation is the rail supply sector. The industry produces rails, electrification, signaling, locomotives, rolling stock, telecommunications equipment, components, and services. Increased demand is being seen by the sector as the globe seeks to modernize its transportation infrastructure and boost commercial routes throughout the continent. The most recent World Rail Business Study, published by the European Rail Supply Industry Association (UNIFE) and strategic consulting firm Roland Berger, predicts that the market would quickly bounce back from a pandemic downturn.
This left its volume at €176.5 billion annually, despite significant investments in infrastructure and rail management made in Western Europe, China, and the Asia-Pacific area, which helped to increase the length of tracks globally by 39,000 kilometers to almost 1.7 billion kilometers. However, the analysts now predict a quick recovery for the industry through 2027.
The global market for rail supplies is anticipated to grow by 19.5% during the next five years, reaching a value of €211 billion. The implementation of the European Rail Traffic Management System (ERTMS), Communications-based Train Control (CBTC), and Digital Automatic Coupling, according to UNIFE and Roland Berger, may be the driving factor behind this (DAC). However, this does not imply that there are no challenges facing the rail supply industry. Finding a means to lower barriers to market entrance is another crucial area for development, according to UNIFE. Looking at the big picture, the organization said that just 61% of the world’s rail market was accessible to foreign rail providers, which it says prevents the use of cutting-edge new technology and attempts to decarbonize transportation.
