Global Railway Passenger Transport Industry
The world railway passenger transport industry recorded more than 6% expansion in 2010, bringing the industry to a value of over $169 billion. MarketLine predicts the industry will grow 24% in the five-year period ending 2015 to reach almost $210 billion.
In terms of volume, the global railway passenger transport industry grew more than 4% in 2010 to reach almost 2.8 trillion PKm. The industry is expected to reach a volume in excess of 3.3 trillion PKm in 2015, representing 19% growth in five years. The industry encompasses the various modes of heavy rail passenger transport services, including regional, suburban, inter-city and international trains.
Globally, the EU holds more than 43% of the global railway passenger transport industry.
The global railway industry is heavy on capital as investments have to be made on a regular basis to replace or update rolling stock, reports Global Industry Analysts. Outdated fleets need to be replaced to better cater for passenger comfort and increasing numbers of passengers. Signaling equipment must also be brought up-to-date to boost network capacity and enhance rail travel safety.
Growth in the world rail supply market is fuelled by the need to service and renew infrastructure and signaling equipment. Other factors driving the global passenger railcar market include economic growth, increased awareness regarding environmental issues, and the need to cut down on road traffic.