Rolling Stock Market in Europe 2022-2027

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The outlook for Europe in 2020-2025 is strong and positive. Many orders are expected for high speed trains in U.K. Switzerland, Netherlands . LRV order ares expected in Germany, France and the U.K., especially for commuter and regional trains as well as for metros and light rail vehicles (LRV).


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INTRODUCTION – Rolling Stock Market in Europe 2022-2027

As of Feb 2021, there are more than 200 passenger railway operating companies in the European Union, generating more than 9 billion trips annually. Germany and Switzerland alone have more than 100 rail operators. About 70% of all operators are public(government) owned whereas the remaining are private owned.

In terms of infrastructure, about 230,000km long rail tracks exist in all EU countries.Germany, France and Poland have more than 30% cumulative share, Germany being the biggest.

High speed rail is an important mode of transport for long distance travel in Europe. The importance of high-speed rail in Europe can be testified by the fact that since the launch of the Frecciarossa brand 10 years ago in Italy, rail’s share of the market has almost doubled on the Rome – Milan corridor had grown from 35% to 66%.



As of Feb 2021, ~120,000 rail coaches(including EMU) run everyday in Europe. A large chunk of new rolling stock orders are due to expansion of existing networks or replacement of earlier rolling stock.

The outlook for Europe in 2020-2025 is strong and positive. Many orders are expected for high speed trains in U.K. Switzerland, Netherlands . LRV order ares expected in Germany, France and the U.K., especially for commuter and regional trains as well as for metros and light rail vehicles (LRV).

The global rolling stock market is estimated at $50-$55 Billion annually.Europe accounts for ~35-38% of global market. Rolling stock market size in Europe is estimated at ~$20 Billion  in 2020.

In Western Europe, Light rail vehicles account for the highest share of new rolling stock orders.11 operators in UK are planning for new carriages with more seats, charging points, wireless internet and HVAC, $16 Billion allocated for same between 2019-2022. UK will spend ~$60 Billion between 2019-2024 on rail infra and has set a goal to  decarbonise and eliminate diesel rolling stock by 2040.

  Recent(Oct 2020- Feb 2021) LRV rolling stock orders in Europe


Announced Country Supplier Units Project worth

(M Euros)

Avg cost per vehicle

(M  Euros)

Feb 2021 Germany Skoda Transportation 24 trams 110 4.6( trams in a 3 car configuration) •          Contract also has option to add further 21 trams
Dec 2020 Switzerland Bombardier 40 trams 160 4(trams) •          Order for Flexity trams

•          Part of an earlier 2017 contract

Dec 2020 Germany Bombardier Upto 117 trams 571 3.2( trams) •          For Berliner Verkehrsbetriebe (BVG)

•          will be equipped with Bombardier’s obstacle detection assistance system (ODAS),

Nov 2020 Germany Siemens Mobilitty 109 trams 400 3.9 •          High floor vehicles

•          option for a further 48 units as well as a maintenance and servicing agreement

Nov 2020 Germany Alstom-Kiepe electric 64 trams 363 5.5(trams) •          based on Alstom’s Citadis platform
Oct 2020 France Alstom 49 trams 200 4(trams) •          Citadis trams

•          For  Nantes Métropole

In Europe, the key change in rolling stock engineering is the move from electronic to software-controlled trains. The software controlled trains allow for remote diagnostics and reduced downtime, improving efficiency and boosting productivity.


  1. Jan 2020– Stadler won an order for its new gen tram which features  driver assistance system with traffic sign recognition, a new bogie design  to optimize the use of space and improve maintainability, and an air- conditioning system with CO2 as the refrigerant
  2. Jan 2020-  The first driver-less metro line in Hamburg has been formally handed over to operator Hamburger Hochbahn for construction to be completed by 2021
  3. Jan 2020– Switzerland based Chemin de Fer Nyon-Saint-Cergue-Morez  awarded Stadler a contract to supply six two-car electric multiple-units. The EMUs will be delivered between late 2021 and early 2022
  4. Dec 2019-Mittelsachsen transport authority ZVMS finalized an order for 11 battery multiple-units worth $55 Million. ZVMS plans to deploy the units from 2023 on Leipzig – Chemnitz service RE6 which is currently operated Siemens ER20 diesel-electric locomotives and coaches
  5. Dec 2019– Škoda Transportation and Sinara Group  signed an agreement to establish a 50:50 joint venture for the production of metro trains, trams and trolleybuses for Russian market
  6. Dec 2019- TransANT is testing modular wagons with exchangeable bodies which Rail cargo group has developed in conjunction with its customers
  7. Dec 2019– World`s first prototype passenger vehicle bogie made from recycled carbon fiber was revealed at the railway industry Association’s unlocking innovation event at the University of Huddersfield, UK. Advantages of a carbon fibre body include, reduced energy consumption,lower track wear and reduced infrastructure maintenance costs.
  8. Dec 2019– GERMAN Rail  announced plans to invest $13.5 Billion in new trains in 2020-2026 to increase long-distance seating capacity by 20% and replace commuter trains
  9. Dec 2019– SPANISH national  rail operator Renfe has announced Avlo as the brand of its new low-cost high-speed service, will be launched on April 6, 2020 on the Madrid – Zaragoza – Barcelona route
  10. Dec 2019- Switzerland based Sihltal Zürich Uetliberg Bahn awarded Stadler a $45 Million contract to supply five three-section Be570 electric multiple-units for the 1 435 mm gauge Uetlibergbahn.All five EMUs are expected to be in service from from July 2022.


Rolling stock market in Europe is consolidated, the top 4 players account for more than 70% market share. Alstom and Siemens are the market leaders in Europe with the highest market share of ~XX% and XX% respectively. European Stadler rail which has procured many projects for trams and subways holds ~XX%, market share and occupy 3rd  position in the market.

Hitachi Rail has successfully tested its first battery-powered tram in Florence – The trial involves installing battery packs on an existing Hitachi-built Sirio tram, which covered a section of the line under battery power. The innovation allows power to be returned to the batteries when the train brakes, reducing the overall amount of energy consumed and protecting the environment.

Bombardier Transportation and Italian intermodal freight operator GTS Rail, strengthened their partnership with a new order from GTS Rail for three more BOMBARDIER TRAXX DC3 E.494 locomotives for its fleet.

DB Regio Bayern has ordered 31 regional trains from Siemens Mobility. The trains will serve on routes between Munich, Passau and Regensburg. Siemens Mobility will be delivering 25 double-decker Desiro HC trainsets and six single-decker Mireo trainsets. 


  1. Market size and forecast of Rolling stock market in Europe, by application and product type (2021-2026)
  2. Global Rolling stock Demand Overview
  3. Recent rolling stock orders segmented by vehicle type
  4. Recent tenders for Rail freight wagon manufacturing
  5. Development of Multimodal Chemical Transport Cluster- Antwerp (Belgium)
  6. European Rail Refurbishment/Replacement Market
  7. Opportunity for component manufacturers (traction motor, HVAC, signalling, pantograph, seats and auxiliary suppliers) in the rolling stock market in Europe
  8. Details on new rolling stock development and infrastructure upgradation of Europe rolling stock market
  9. Growth strategy of major players
  10. Market share of major vendors ,2019


Additional information






Ashutosh M and Abhishek P

Release date


Table of Contents

1 Market Segmentation 6
2 Abbreviations 8
3 Executive Summary 9-11
4 European Rail Manufacturing footprint – 2020 13-15
5 Rolling Stock PARC breakup by Coaches and Wagons-2020 17-21
6 Rolling stock component manufacturing in Europe 23
7 Rail Freight Wagon Rolling Stock Manufacturing In Europe 25
8 Recent tenders for Rail freight wagon manufacturing 27-29
9 Global Rolling stock Demand Overview 31
10 European Railways – Status, Profitability, Modernization and Infrastructure 33-34
11 Eu Digital Automatic Coupling Deployment 36-37
12 New Product Development In Freight Wagons- Europe 39-45
13 Development Of Multimodal Chemical Transport Cluster- Antwerp (Belgium) 47
14 Rolling Stock Bidding And Import By Foreign Vendors 49-51
15 COVID-19 impact on EU railways earnings and operations 53-54
16 Market Size, Dynamics and Forecast by Vehicle Type, 2021-2026 56-71
17 Market Size, Dynamics and Forecast by Components, 2021-2026 73-76
18 Market Size, Dynamics and Forecast by Manufacturing, 2021-2026 78-85
19 Market Size, Dynamics and Forecast by Raw material, 2021-2026 87-89
20 Revenue analysis of major Rolling stock suppliers in Europe 91
21 Gross margin & Profitability of major Rolling stock suppliers 93
22 Recent new product development Europe and global 95-97
23 M&A in past 3 years 99
24 Growth strategy of Leading players 101-103
25 Market share of leading vendors 105
26 Company Profiles 107-116
27 Unmet needs and market opportunity for suppliers 118
28 Conclusion 120
29 European Rail Refurbishment/Replacement Market 122-124
30 Opportunities In European Rail Signalling Upgrade 126-129
31 European Rail Capex Allocation Breakup 131
32 Component Supplier Profiles

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