The train and components manufacturing industry comprise of establishments manufacturing and rebuilding, gauges, frames and locomotives parts and railroad cars.
The global train and components manufacturing market is valued at $159 billion in 2017 due to the expected increase in demand for rail transportation, particularly in developing countries.
The train and components manufacturing market in The Business Research Company’s report is segmented into two segments, namely locomotives, wagons, & other rolling stock and parts & accessories for railway vehicles. While the first segment accounts for nearly, three-fifth of the market share, the remaining share is attributed to the parts & accessories for railway vehicles segment.
China was the largest country in the train and components manufacturing market in 2017, accounting for more than one-fifth of the market share. This was mainly due to the presence of a wide rail network in the country, implying a robust passenger and cargo transportation. China was followed by the USA and Russia as the next largest countries in the market.
CRRC was the largest competitor in the train and components manufacturing market, followed by Siemens and Alstom. CRRC was founded in 2007 and is headquartered in Beijing, China. It is involved in researching, developing, manufacturing, selling, refurbishing, servicing, and leasing locomotives, metro cars, engineering machinery and related components worldwide.
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