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Railway Cars Market Size & Share, by Type (Freight Cars, Passenger Cars); Application (Intercity Transportation, Urban Transportation, Freight, Others) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 7457
  • Published Date: Apr 04, 2025
  • Report Format: PDF, PPT

Global Railway Cars Market

  1. An outline of the Global Railway Cars Market
    1. Market Definition
    2. Market Segmentation
    3. Solution Overview
  2. Assumptions and Abbreviations
  3. Research Methodology & Approach
    1. Primary Research
    2. Secondary Research  
    3. Data Triangulation
    4. SPSS Methodology
  4. Executive Summary
  5. Growth Drivers
  6. Major Roadblocks
  7. Opportunities
  8. Prevalent Trends
  9. Government Regulation: How they would aid business?
  10. Comparative Analysis of the Current Technologies
  11. Root Cause Analysis (RCA) for discovering problems of the Railway Cars Market
  12. Sensor Technology Adoption Scenario
  13. Key Sensor Technology Suppliers
  14. Analysis of Railway Cars by Type
  15. Supply Chain Analysis
  16. Glass Manufacturers for Railway Cars
  17. High-Performance Windows Analysis
  18. Regional/Country Demand
  19. Patent Analysis
  20. EXIM Analysis
  21. SWOT Analysis
  22. PESTLE Analysis
  23. Recent Development
  24. Risk Analysis
  25. Pricing Benchmarking
  26. Comparative Positioning
  27. Competitive Landscape: Key Players
  28. Competitive Model: A Detailed Inside View for Investors
    1. American Industrial Transport, Inc.
    2. FREIGHTCAR AMERICA, INC.
    3. GATX Corporation
    4. Kawasaki Railcar Manufacturing Co., Ltd
    5. Mammoet Holding B.V.
    6. Newag S.A.
    7. Norfolk Southern Corporation
    8. THE GREENBRIER COMPANIES, INC
    9. Trinity Industries, Inc.
    10. UNION TANK CAR COMPANY
    11. VTG GmbH
  29. Global Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. Global Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3. By Region
        1. North America, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. Europe, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        3. Asia Pacific Excluding Japan, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        4. Japan, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        5. Latin America, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        6. Middle East and Africa, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
  30. North America Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. North America Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3.  By Country
        1. U.S., Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. Canada Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
  31. Europe Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. Europe Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3.  By Country
        1. UK, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. Germany, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        3. France, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        4. Italy, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        5. Spain, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        6. BENELUX, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        7. Poland, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        8. Russia, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        9. Rest of Europe, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
  32. Asia Pacific excluding Japan Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. Asia Pacific excluding Japan Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3. By Country
        1. China, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. India, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        3. South Korea, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        4. Australia, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        5. Indonesia, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        6. Malaysia, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        7. Vietnam, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        8. Singapore, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        9. Thailand, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        10. New Zealand, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        11. Rest of Asia Pacific excluding Japan, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
    3. Japan Railway Cars Market Outlook
      1. Market Overview
        1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
        2. Year-on-Year (Y-o-Y) Growth Trend Analysis
      2. Japan Railway Cars Market Segmentation Analysis (2014-2037)
      3. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      4. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
  33. Latin America Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. Latin America Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3. By Country
        1. Brazil, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. Argentina, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        3. Mexico, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        4. Rest of Latin America, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
  34. Middle East & Africa Railway Cars Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
      2. Year-on-Year (Y-o-Y) Growth Trend Analysis
    2. Middle East & Africa Railway Cars Market Segmentation Analysis (2014-2037)
      1. By Type
        1. Freight Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Boxcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Hopper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Flatcars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          4. Tank Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          5. Gondolas, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          6. Coil Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          7. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
        2. Passenger Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          1. Sleeper Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          2. Observation Cars, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
          3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2014-2037F
      2. By Application
        1. Intercity Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        2. Urban Transportation, Market Value (USD Million), and CAGR, 2014-2037F
        3. Freight, Market Value (USD Million), and CAGR, 2014-2037F
        4. Others, Market Value (USD Million), and CAGR, 2014-2037F
      3. By Country
        1. GCC, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        2. Israel, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        3. South Africa, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F
        4. Rest of Middle East & Africa, Market Value (USD Million), Volume (Units) CAGR & Y-o-Y Growth Trend, 2014-2037F 
  35. World Economic Outlook
  36. About Research Nester

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Railway Cars Market size was valued at USD 6.7 billion in 2024 and is projected to reach a valuation of USD 11.5 billion by the end of 2037, rising at a CAGR of 4.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of railway cars is assessed at USD 7 billion.

The railway cars market is anticipated to expand steadily owing to increasing demand for efficient, eco-friendly transportation solutions. Governments all over the world are laying emphasis on rail transport to meet their goals of sustainability by making heavy investments in infrastructure and technology. In November 2024, Alstom unveiled the design of its new Coradia Stream trains for Barcelona's rapid transit services. These trains, expected to be in place by the year 2026, signal the intent of this industry toward better intercity connectivity and ecological balance using advanced rail technologies.

Governments efforts also raise safety and efficiency in railway operations. In 2024, FRA set new standards to ensure that freight cars built today are safer with strict standards that adhere to greater safety. The European Commission included the goal in its Sustainable and Smart Mobility Strategy that rail freight should double by 2050 as the importance of railway cars regarding the global decarbonization effect becomes clear. Such measures are likely to open new prospects for railway car manufacturers during the forecast period.

Railway Cars Market Size
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Railway Cars Sector: Growth Drivers and Challenges

Growth Drivers

  • Sustainability and decarbonization efforts: Railways are increasingly seen as a key means of reducing the carbon footprint in freight and passenger sections. The government’s ambitious goals to increase rail freight traffic underlines the strategic shift toward railways for attaining environmental objectives. This is propelling the demand for advanced, energy-efficient railway cars fitted with modern technologies. For example, the introduction of hybrid and electric railway cars is gaining traction globally, further aligning with sustainability goals and decarbonization efforts.
     
  • Technological innovations in rail transport: Continuous developments in rail technology, including autonomous operations and maglev, are changing the dynamics of the railway cars market. JR East announced in September 2024 its plan to operate driverless bullet trains by the mid-2030s, an explicit demonstration of how automation could enhance efficiency and safety in operations. Moreover, the adoption of IoT-enabled systems and predictive maintenance technologies is improving the performance and reliability of railway cars, thereby making them more viable for operators.
     
  • Investments by the government in rail infrastructure: Governments around the world are investing heavily in rail infrastructure to modernize old systems and expand networks. In September 2023, the FRA committed USD 1.4 billion through its CRISI program to fund 70 rail improvement projects across the U.S., showing strong governmental support for railway sector growth. Such initiatives are crucial for addressing capacity challenges, supporting intermodal freight, and meeting the rising demand for efficient passenger transport systems worldwide.

Challenges

  • Aging infrastructure: Outdated rail networks and infrastructure remain significant barriers to adopting modern railway cars. Maintenance costs are escalating, as highlighted by Rail North America's struggles in 2023 to sustain aging assets. Without substantial infrastructure upgrades, achieving reliability and efficiency in rail services will remain a challenge, limiting the growth of modern rail solutions. Additionally, delays in modernization projects exacerbate bottlenecks in the transportation sector, hindering overall economic progress. 
     
  • Supply chain disruptions: The rail industry is still finding a solution to the disruption in the supply chain, which ails the production and timely delivery of railway cars. These disruptions have been accentuated lately by events across the globe, fluctuating material costs, and shortage of labor, all putting a delay in the timeline of the projects. Thus, localizing supply chains and making manufacturing more resilient have become increasingly paramount in surmounting bottlenecks. Besides, reliance on key raw materials like steel and electrical components exposes this sector to disturbances in international trade.
Railway Cars Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

4.6%

Base Year Market Size (2024)

USD 6.7 billion

Forecast Year Market Size (2037)

USD 11.5 billion

Regional Scope

  • North America (U.S. and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Railway Cars Segmentation

Type (Freight Cars, Passenger Cars)

Passenger cars segment is set to capture over 65% railway cars market share by 2037 due to an increasing need for effective, efficient travel options in urban settings and a drive toward greater travel with intercity travel. In November 2024, Alstom showcased its new trains in the city of Barcelona that enhance the traveling experience with regard to advanced comfort and efficiency options. Increasing investments in commuter and airport transit systems are further fueling the segment's growth as governments prioritize accessible and sustainable travel options. This also reflects the push to alleviate traffic congestion and carbon emissions.

Application (Intercity Transportation, Urban Transportation, Freight, Others)

By 2037, intercity transportation segment is expected to capture over 35% railway cars market share, attributed to investments in high-speed rail systems, which are used to drive sustainable mobility. The Japan Chuo Shinkansen maglev project, traveling at 500 km/h, is just one example of the increase in focus being put on advanced rail systems. These projects are redefining lengthy travel by reducing journey times, increasing reliability, and being a cleaner alternative compared to air and road transport. The increasing connectivity between urban metropolises is further accelerating the demand for high-performance intercity railway cars.

Our in-depth analysis of the global railway cars market includes the following segments:

Type

  • Freight Cars
  • Passenger Cars

Application
  • Intercity Transportation
  • Urban Transportation
  • Freight
  • Others

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Railway Cars Industry - Regional Synopsis

North America Market Analysis

North America railway cars market is estimated to capture revenue share of over 48% by 2037, driven by large-scale infrastructure investments and technological advancements. Texas Central Railway pushed its high-speed rail project ahead to connect San Antonio and Austin with a 220 mph bullet train in May of 2024. The development in this regard stresses regional focus on modernization in the rail infrastructure to increase efficiency and reduce travel time. Further, more widespread acceptance of road-rail vehicle technology is a testament to an effort to find integrative solutions for diverse transportation needs. Such innovations make North America a global hub in the market, guiding sustainable urban mobility.

The U.S. remains a key contributor to North America dominance in the railway cars market, due to robust government support and private sector investments. In December 2023, American Industrial Transport, Inc., an affiliate of ITE Management L.P., acquired key railcar operations from SMBC Rail Services LLC. This acquisition reflects the industry's emphasis on enhancing capacity and operational capabilities to meet rising demand. The U.S. is projected to continue lead with innovation and expansion in passenger and freight rail transportation.

Canada is making strides in modernizing its rail infrastructure, supported by government initiatives and regional collaborations. After the merger of CP Rail and Kansas City Southern in April 2023, Canadian Pacific Kansas City (CPKC) is concentrating on cross border freight rail services. A significant rise in the capacity of moving rail freight in Canada is driving steady growth of the railway cars market. Furthermore, investments in green technologies and autonomous rail solutions further reflect Canada focus on sustainability, ensuring long-term growth in the sector.

Asia Pacific excluding Japan Market Statistics

APEJ railway cars market is projected to witness around 7.5% growth rate till 2037, fueled by urbanization and increasing freight needs. In June 2022, Indian Railways implemented the Control Office Application (COA) system in collaboration with ISRO, enabling real-time GPS-based monitoring of passenger and freight trains. This technological leap demonstrates the region's focus on efficiency and innovation. Rapid industrialization and government initiatives to develop high-speed rail networks underscore the region's potential for sustained growth, particularly in emerging economies.

India railway cars market is witnessing robust growth, driven by government investments in modernizing rail networks and expanding high-speed rail projects. The introduction of the Vande Bharat Express trains exemplifies India focus on upgrading passenger services with energy-efficient and high-performance rolling stock. In June 2024, Indian Railways announced plans to add 1,000 new freight cars to enhance logistical efficiency, supporting the nation’s growing industrial needs. These developments highlight India’s commitment to becoming a global hub for railway car manufacturing and services.

China remains a dominant force in the APEJ railway cars market owing to its extensive high-speed rail network and freight transportation capabilities. The country’s Belt and Road Initiative continues to expand its rail connectivity, driving demand for advanced railway cars. In July 2023, China unveiled the world’s first driverless maglev train with speeds of up to 600 km/h, showcasing its technological leadership. Additionally, government subsidies for green and energy-efficient rail projects further strengthen China position as a global leader in rail transportation infrastructure.

Railway Cars Market Share
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Companies Dominating the Railway Cars Landscape

    The railway cars market is fiercely competitive, as leading companies like The Greenbrier Companies, Trinity Industries, Inc., FREIGHTCAR AMERICA, Inc., and VTG GmbH continue to push innovation and growth. The companies are looking to expand their lease fleets, adopt sustainable materials, and invest in digital solutions to enhance the efficiency of their operations to meet demand across the world. Growing focus on customer-centric services also continues to reshape the competitive dynamics of the railway cars market.

    In October 2024, VTG Rail UK and Alvance British Aluminium entered a ten-year wagon leasing agreement starting January 2025. Under the deal, VTG will lease 20 JPA powder tank wagons to Alvance, reinforcing their commitment to reliable and sustainable transport. This collaboration highlights the importance of public-private partnerships in addressing infrastructure needs and supporting industry growth through innovative rail solutions. The growing integration of advanced materials and smart technologies further underscores the sector's forward-looking strategies.

    Here are some leading companies in the railway cars market:

    • The Greenbrier Companies
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Trinity Industries, Inc.
    • FREIGHTCAR AMERICA, INC.
    • Newag S.A.
    • GATX Corporation
    • American Industrial Transport, Inc.
    • UNION TANK CAR COMPANY (A Berkshire Hathaway Company)
    • VTG GmbH
    • Norfolk Southern Corp
    • Mammoet Holdings B.V.
    • Kawasaki Railcar Manufacturing Co., Ltd

In the News

  • In November 2024, Wabtec Corporation secured a USD 48.4 million grant to advance the development of hydrogen-powered trains at its Erie, Pennsylvania facility. The funding, provided under the Consolidated Rail Infrastructure and Safety Improvements (CRISI) program, is part of the Infrastructure Investment and Jobs Act, emphasizing the commitment to sustainable transportation solutions.
  • In December 2023, American Industrial Transport, Inc. ("AITX"), an affiliate of investment firm ITE Management L.P., announced the acquisition of certain railcar operations and assets from SMBC Rail Services LLC ("SMBC RS"). This strategic move enhances AITX's portfolio in industrial transportation assets and strengthens its infrastructure capabilities.
  • In October 2023, GATX Corporation signed a long-term railcar supply agreement with Trinity, a subsidiary of Trinity Industries, Inc., to procure 15,000 newly manufactured railcars through 2028. The deal includes an option for GATX to order up to 500 additional railcars annually during the contract term. This agreement ensures GATX a consistent supply of high-quality, modern railcars at competitive costs across North America.

Author Credits:   Saima Khursheed


  • Report ID: 7457
  • Published Date: Apr 04, 2025
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In 2024, the industry size of railway cars was USD 6.7 billion.

The global railway cars market size was USD 6.7 billion in 2024 and is expected to reach USD 11.5 billion by the end of 2037, expanding at a CAGR of 4.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of railway cars will be valued at USD 7.0 billion.

Key players in the market are The Greenbrier Companies, Trinity Industries, Inc., FREIGHTCAR AMERICA, INC., Newag S.A., GATX Corporation, American Industrial Transport, Inc., UNION TANK CAR COMPANY (A Berkshire Hathaway Company), VTG GmbH, Norfolk Southern Corp, Mammoet Holdings B.V., Kawasaki Railcar Manufacturing Co., Ltd.

The passenger cars segment is anticipated to lead the railway cars market during the forecast period.

North America is projected to witness lucrative expansion opportunities in the railway cars market during the forecast period.
Railway Cars Market Report Scope
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