Train, Subway & Transit Car Manufacturing in Canada - Industry Market Research Report

Train, Subway & Transit Car Manufacturing in Canada - Industry Market Research Report

Train, Subway & Transit Car Manufacturing in Canada

Over the past five years, train, subway and transit car manufacturers have faced a harsh economic climate that hasn't been easy for the industry. In the early period, new federal funding for infrastructure projects combined with tightening safety regulations to promote the sale of new, expensive railcars. Imports rose in response to the spike in demand as globalized manufacturers looked to leverage cheaper labour in developing nations to offer lower prices, but domestic manufacturers were still able to earn a hefty jump in revenue. Despite early wins, revenue tanked as the COVID-19 pandemic brought a myriad of challenges that have just begun to wane. Industry-wide revenue has been dropping at a CAGR of 5.4% over the past five years and is expected to total $2.7 billion in 2023, when revenue will climb by an estimated 2.9%.

This industry primarily manufactures and rebuilds locomotives and railroad cars of any type or gauge, including frames and parts. This industry includes manufacturing rapid transit cars and special-purpose self-propelled railroad equipment, such as rail layers, ballast distributors, rail tamping equipment and other railway track maintenance equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.