“Increase in user preference for public transportation and growing demand for energy-efficient transport to drive the railway system market.”
The global railway system market is estimated to grow at a CAGR of 5.2%, from USD 26.0 billion in 2019 to USD 35.3 billion by 2025. Rising income levels have increased the demand for personal mobility and led to a rise in road traffic in major cities across the globe, which has increased the demand for public transportation such as metros and high-speed trains. The increasing demand for these rolling stocks will fuel the growth of the railway system market. However, refurbishment of existing rolling stock and its capital-intensive nature are inhibiting the growth of the market.
“Freight transportation to grow at a significant rate during
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