Global Railway Market Report 2024: UNIFE’s Key Insights

At InnoTrans 2024, the European Rail Industry Association (UNIFE) presented the tenth report on the state of the global railway equipment market, created in collaboration with Bain & Company, this is reported by the railway transport news portal Railway Supply.

The report states that the market size has reached €201.8 billion.

The largest segments remain services (€77.1 billion) and rolling stock (€63.3 billion).

LLC “RPA A.T.O.R.” at InnoTrans received the EN 15085 certification for welding of railway vehicles and their components

Infrastructure projects account for €38.1 billion, while train control systems represent €22.3 billion. The turnkey project management segment is estimated at €1.1 billion.

After the pandemic, the railway equipment market began to recover, showing a growth of 2.7% by 2023.

Western Europe made the most significant contribution, with a growth rate of 7.3%, driven by the renewal of electric rolling stock and the development of light rail transport.

The forecast for 2027-2029 indicates an annual growth of 3%, which will allow the market to reach €240.8 billion, considering inflationary factors.

Experts note that the market is moving forward thanks to urbanization, digitalization, and sustainable development.

At the same time, the share of European suppliers is decreasing, dropping to 59% between 2021 and 2023.

This decline is due to trade barriers and support for local manufacturers in national markets.

The impact of these factors varies by region and sector.

Nevertheless, further investments in innovation and sustainable technologies are expected to continue driving the growth of the railway sector worldwide.

Photo: UNIFE

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