In 2023, Germany led in R&D expenditures for the manufacture of railway locomotives and rolling stock at 427.54 million USD PPP, followed by Taiwan and Spain. Germany showed a strong year-on-year growth of 16.78% from 2022. Taiwan and Spain experienced moderate increases of 3.1% and 3.88%, respectively. Italy and South Korea also depicted growth at rates of 7.48% and 7.1%. Despite Japan's modest R&D investments, it achieved a 5.59% increase. Hungary saw a significant increase of 13.26%, while Romania saw a decrease of 8.72%.
Future trends to watch in the global R&D expenditure for railway locomotives and rolling stock include:
- Increased investment in sustainable and efficient transport solutions, possibly driving R&D growth in the industry.
- Advancements in technologies such as automation and digital transformation influencing investment patterns.
- Emerging markets in Asia and Eastern Europe may become more prominent in R&D contributions.
- Continued competition among major players could lead to increased R&D expenditure to maintain technological leadership.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Railway Locomotives and Rolling Stock by Country
| # | 9 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 427.54 | 2023 | +3.5% | +16.78% | View data |
| 2 | 2 Taiwan | 350.78 | 2023 | +5.99% | +3.1% | View data |
| 3 | 3 Spain | 205.2 | 2023 | +2.17% | +3.88% | View data |
| 4 | 4 Italy | 132.93 | 2023 | +17.57% | +7.48% | View data |
| 5 | 5 South Korea | 97.74 | 2023 | +0.39% | +7.1% | View data |
| 6 | 6 Poland | 82.22 | 2023 | +10.86% | +1.33% | View data |
| 7 | 7 Japan | 42.02 | 2023 | +2.08% | +5.59% | View data |
| 8 | 8 Hungary | 25.25 | 2023 | +8.3% | +13.26% | View data |
| 9 | 9 Romania | 1.9 | 2023 | +17.1% | -8.72% | View data |
