As of Dec 2019, 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%.


infographic: Rolling Stock Market in Europe


As of Dec 2019, ~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 $33-$35 Billion annually.Europe accounts for ~35-38% of global market.Rolling stock market size in Europe is estimated at ~$12 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(Aug- Dec 2019) LRV rolling stock orders in Europe

Country-CItyNumber of LRVs*section SupplierDelivery timelineTotal order value
(Million Euros)
Hungary- MÁV-Start21*6Stadler2022-end313(including previous orders in agreement)
Germany- Bonn26*3Skoda2022-23100
Portugal- Porto Metro18*4CRRC2021-2250
Poland-Lodz30*5Modertrans Poznań202260
Germany- Nuremberg12*4Siemens202244
Germany- Augsburg11*7Stadler202257
Italy- Turin30(upto 70)Hitachi202163


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.



European rolling stock market is consolidated, the top 4 players account for more than 70% market share. Bombardier is the market leader with more than 20% market share, followed by Alstom, Stadler and Siemens Mobility. Remaining 8-9 vendors account for the remaining 30% market.



  1. Hitachi Rail Europe
  2. Stadler Rail
  3. Alstom SA
  4. Bombardier Transportation
  5. Siemens Mobility
  6. Skoda Transportation
  7. Titagarh Wagons AFR
  8. Talgo, S.A.
  9. CAF Rail
  10. Hyundai Rotem
  11. Vossloh Locomotives GmbH
  12. Wabtec Corporation
  14. HeiterBlick
  15. Modertrans Poznań



  1. Market size and forecast of Rolling stock market in Europe, by application and product type
  2. Opportunity for traction motor, HVAC, signaling, pantograph, seats and auxiliary suppliers in the rolling stock market in Europe
  3. Details on new rolling stock development and infrastructure upgradation of Europe rolling stock market
  4. Market share of major vendors ,2019
  5. Key criterion for vendor selection by European  rail operators
Sl noTopic
1Market Segmentation
2Scope of the report
4Research Methodology
5Executive Summary
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers


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