The production value for railway locomotives and rolling stock in the UK has seen fluctuating trends between 2013 and 2023, with notable dips in 2014 and 2020. The value stood at 4.84 billion Euros in 2023. Over the last two years, from 2021 to 2023, the market experienced a significant positive change with the year-on-year variations at 9.89% and 4.13% respectively. The average annual growth rate (CAGR) for the past five years is at 2.87%. Looking forward, forecasts indicate a steady growth pattern, achieving a 5-year CAGR of 2.97% and an overall growth rate of 15.78% by 2028.
Future trends to watch for include potential impacts of technological advancements in rolling stock, government investments in infrastructure projects, and the adoption of greener, sustainable practices within the rail industry. These factors are likely to influence production values positively and create new opportunities for market expansion.