How big is the Rail Asset Management Market?

The Rail Asset Management Market size is expected to reach USD 12.66 billion in 2024 and grow at a CAGR of 6.07% to reach USD 16.99 billion by 2029. Read More

What is the current Rail Asset Management Market size?

In 2024, the Rail Asset Management Market size is expected to reach USD 12.66 billion. Read More

Who are the key players in Rail Asset Management Market?

Siemens AG, Hitachi Ltd, Alstom, IBM Corporation and Wabtec Corporation are the major companies operating in the Rail Asset Management Market. Read More

Which is the fastest growing region in Rail Asset Management Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Rail Asset Management Market?

In 2024, the Europe accounts for the largest market share in Rail Asset Management Market. Read More

What years does this Rail Asset Management Market cover, and what was the market size in 2023?

In 2023, the Rail Asset Management Market size was estimated at USD 11.89 billion. The report covers the Rail Asset Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rail Asset Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Rail Asset Management Market - Size, Share & Analysis

Rail Asset Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Rail Asset Management Market is Segmented by Deployment (On-Premises, Cloud), by Application (Rolling Stock, Infrastructure), and by Geography (North America (US, Canada), Europe (UK, France, Germany, Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Latin America, Middle East & Africa). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Rail Asset Management Industry Overview

The global rail asset management market is moderately competitive. It has many major players contributing significantly to the market share through their long-term partnerships in providing rail asset management solutions to railway operators, including public and private organizations. Market vendors are performing strategic investments in research and development, partnerships, mergers and acquisitions, and new technological development in their solutions to increase their market share. Some of the major players in the market are Siemens AG, Hitachi Ltd., Alstom, IBM Corporation, etc.

In April 2023, Quebec City, Canada, issued a contract with Alstom, a global leader in smart and sustainable mobility, to supply 34 Citadistrams for the city's tramway project for approximately USD 1 billion, which would include the rolling stock design, supply, and maintenance.

In January 2023, The SNC-Lavalin Group Inc was chosen as the delivery partner for Calgary's Green Line LRT (Light Rail Transit), in which the company would use its technical and business know-how in large, complex projects to support the completion of Phase-1 of the Calgary Green Line LRT Project, an 18 km transit system connecting the city's existing Red and Blue LRT lines and four MAX BRT routes.