The train and
components manufacturing industry comprise of establishments manufacturing and
rebuilding, gauges, frames and locomotives parts and railroad cars.
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The global train
and components manufacturing market is valued at $159 billion in 2017 due to
the expected increase in demand for rail transportation, particularly in
developing countries.
The train and
components manufacturing market in The Business Research Company’s report is
segmented into two segments, namely locomotives, wagons, & other rolling
stock and parts & accessories for railway vehicles. While the first segment
accounts for nearly, three-fifth of the market share, the remaining share is
attributed to the parts & accessories for railway vehicles segment.
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China was the
largest country in the train and components manufacturing market in 2017,
accounting for more than one-fifth of the market share. This was mainly due to
the presence of a wide rail network in the country, implying a robust passenger
and cargo transportation. China was followed by the USA and Russia as the next
largest countries in the market.
CRRC was the
largest competitor in the train and components manufacturing market, followed
by Siemens and Alstom. CRRC was founded in 2007 and is headquartered in
Beijing, China. It is involved in researching, developing, manufacturing,
selling, refurbishing, servicing, and leasing locomotives, metro cars,
engineering machinery and related components worldwide.
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