North America Rolling Stock Management Market Forecast to 2028 - Regional Analysis - by Management Type (Rail Management and Infrastructure Management) and Maintenance Service (Corrective Maintenance, Preventive Maintenance, and Predictive Maintenance)

North America Rolling Stock Management Market Forecast to 2028 - Regional Analysis - by Management Type (Rail Management and Infrastructure Management) and Maintenance Service (Corrective Maintenance, Preventive Maintenance, and Predictive Maintenance)

The North America rolling stock management market was valued at US$ 11,435.98 million in 2022 and is expected to reach US$ 16,361.42 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

Integration of 5G and IoT in Rolling Stock Management System fuel the North America Rolling Stock Management Market

The use of 5G in the rolling stock management provides higher bandwidth for the data transmission between the rolling stock and authorities engaged in its management. It also improves train-to-ground communications and helps the operators make better decisions regarding the action needed to maintain the reliable operation of the rolling stock. The capability of the 5G allows the rolling stock and the operator to gain real-time connectivity for the ticketing services, travel information, and IoT-based maintenance data collection for engineering staff. The IoT-based devices in the rolling stock management system improve the operator efficiency to better manage and control the rolling stock. For example, the IoT-based sensor attached to the rolling stock carriage can detect unusual activity, providing early alerts to the operator and authorities regarding potential component failure. IoT-based devices collect real-time information about the rolling stock and help the operator to better plan and manage the preventative maintenance cycles to reduce the consequence of component failure. This factor improves the performance and lifespan of the rolling stock and further contributes to the overall security of the passengers and cargo activities. Thus, the integration of advanced technologies such as 5G and IoT with rolling stock and its management system is likely to create a lucrative opportunity for the North America rolling stock management market growth in the coming years.

North America Rolling Stock Management Market Overview

The North America rolling stock management market is segmented into the US, Canada, and Mexico. In North America, rolling stock management is increasingly adopted in the railway infrastructure industry. The railway network is one of the most valuable infrastructure assets and one of the main means of transportation in the country. Renewal and maintenance of railway infrastructure play a vital role in safety performance, ride quality, train punctuality, and the life cycle cost of railway assets. According to the International Transport Forum, in 2019, North America accounted for 6% of the total rail infrastructure investment, making up 0.1% of the regions GDP. The US government is taking various initiatives to improve the rail infrastructure. In June 2022, the Biden Administration announced an investment of $ 368 million in Consolidated Rail Infrastructure and Safety Improvements (CRISI) and granted program funds to 46 projects in 32 states to improve rail infrastructure and maintenance and enhance and strengthen supply chains in North America.

North America Rolling Stock Management Market Revenue and Forecast to 2028 (US$ Million)

North America Rolling Stock Management Market Segmentation

The North America rolling stock management market is segmented based on management type, maintenance service, and country. Based on management type, the North America rolling stock management market is bifurcated into rail management and infrastructure management. The rail management segment held a larger market share in 2022. The rail management segment is further subsegmented into remote diagnostic management, wayside management, train management, asset management, cab advisory, and others. Additionally, the infrastructure management segment is categorized into control room management, station management, automatic fare collection management, and others.

Based on maintenance service, the North America rolling stock management market is segmented into corrective maintenance, preventive maintenance, and predictive maintenance. The corrective maintenance segment held the largest market share in 2022.

Based on country, the North America rolling stock management market is segmented into the US, Canada, and Mexico. The US dominated the North America rolling stock management market share in 2022.

Alstom SA, ABB Ltd, Hitachi Rail Ltd, Mitsubishi Electric Corp, Siemens Mobility GmbH, Talgo SA, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, and Trimble Inc. are some of the leading companies operating in the North America rolling stock management market.
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