Summary:
The Total Rolling Stock market is set for unprecedented growth, with cumulative turnover projected to surpass XX-XX-XXX crores (USD XX.XX Billion) over the next five years. This expansion is being fuelled by government budgetary allocations, modernisation drives, and flagship projects such as Vande Bharat, Amrit Bharat, High-Speed Rail (HSR), Metrolite, Metroneo, etc.
Rolling stock manufacturing in India is no longer limited to domestic demand—it is now positioning itself as a global export hub. With strong policy backing and the Make in India initiative, India’s rolling stock industry is expected to evolve into a technologically advanced, sustainable, and self-reliant ecosystem.
Markets Covered:
● Locomotives
● Coaches
● Wagons
● EMUs
● Vande Bharat Trainsets
● Vande Metro Projects
● Amrit Bharat Trainsets
● High-Speed Rail
● Suburban & Regional Rail
● RRTS
● Metro
● Metrolite
● Water Metro
● Airport Express
● Metroneo
● Monorail
Flagship projects such as Vande Bharat, Namo Bharat, Vande Metro, and HSR are setting benchmarks for modern mobility in India. Together, these developments are driving exponential growth for manufacturers, suppliers, and technology providers in the rolling stock ecosystem.
| Contents |
|
|---|---|
| ● List of Abbreviations used in the Report | ● Executive Summary |
| ● Key takeaways for the Rolling stock market | ● Research Methodology |
|
|
| ● Railway Industry Overview | ● Budget 2025 |
| ● Market Dynamics | ● Key Trends |
● PEST Analysis |
|
Rolling Stock types |
|
| ● Rolling Stock in India | ● Locomotives |
| ● Coaches | ● Wagons |
| ● EMU | ● Vande Bharat |
| ● Upgradation of Rolling Stock | ● Amrit Bharat |
| ● Vande Metro | ● High Speed |
Key Insights |
|
| ● Policies & Programmes | ● Mergers, Acquisitions and Partnerships |
| ● Porter’s Five Forces Analysis | ● Technological Developments |
Market Analysis |
|
| ● Railway Market in India | ● Locomotives Assessment |
| ● LHB Assessment | ● EMU Assessment |
| ● Amrit Bharat Assessment (2025-2030) | ● Vande Metro Assessment (2025-2030) |
| ● Wagon Assessment | ● Vande Bharat Assessment |
| ● High Speed Assessment | |
Addressable Assessment |
|
| ● Future Market – Details | ● Pricing- Expected |
| ● Annual Addressable Market | ● Total Addressable Assessment |
Industry Insights |
|
| ● Disruptive innovation in the Industry | ● Growth strategy of leading players |
| ● New developments | ● Significant Contracts |
| ● Future Contracts Expected | |
| Transit Market | |
| ● Transit Industry Overview | ● Market Dynamics |
| ● Key Trends | ● PEST Analysis |
Rolling Stock types |
|
| ● Monorail | ● Metro |
| ● Metrolite | ● Metroneo |
| ● Water Metro | ● RRTS |
Project Status |
|
| ● Monorail | ● Metro |
| ● Metrolite | ● Metroneo |
| ● Water Metro | ● RRTS |
Project Details |
|
| ● Metro | ● Metrolite |
| ● Other Transit Projects | ● RRTS |
Key Insights |
|
| ● Policies & Programmes | ● Mergers, Acquisitions and Partnerships |
| ● Porter’s Five Forces Analysis | ● Technological Developments |
Market Analysis |
|
| ● Transit Market in India | ● Transit Market Assessment |
| ● Future Market – Details | ● Pricing- Expected |
| ● Total Addressable Assessment | |
Industry Insights |
|
| ● Disruptive innovation in the Industry | ● Growth strategy of leading players |
| ● New developments | ● Significant Contracts |
| ● Future Contracts Expected | |
Supplier Overview |
|
| ● Present Rolling Stock Major Suppliers- Profiles | |
| ○ Alstom Transport India | |
| ○ Banaras Locomotive Works (BLW) | |
| ○ Bharat Earth Movers Limited (BEML) | |
| ○ Bharat Heavy Electricals Limited (BHEL) | |
| ○ Braithwaite & Co. Limited | |
| ○ Bridge & Roof Co. (India) Limited | |
| ○ CG Power and Industrial Solutions Limited (CGL) | |
| ○ Chittaranjan Locomotive Works (CLW) | |
| ○ CRRC India Private Limited | |
| ○ Hindusthan Engineering & Industries Limited | |
| ○ Integral Coach Factory (ICF) | |
| ○ Jindal Rail Infrastructure Limited | |
| ○ Jupiter Wagons Limited | |
| ○ Kinet Railway Solutions Limited | |
| ○ Modern Coach Factory (MCF) | |
| ○ Modern Industries Limited | |
| ○ Medha Servo Drives | |
| ○ Om Besco Rail Products Limited | |
| ○ Oriental Foundry Private Limited | |
| ○ Rail Coach Factory (RCF) | |
| ○ Rail Vikas Nigam Limited (RVNL) | |
| ○ SAIL-Rites Bengal Wagon Industry Private Limited | |
| ○ Saini Heavy Electrical and Engineering Works Pvt. Ltd | |
| ○ Siemens India | |
| ○ Texmaco Rail & Engineering Limited | |
| ○ Titagarh Rail Systems Limited | |
| ○ Wabtec India | |
Market Analysis |
|
| ● Industry SWOT Analysis | ● Conclusion |
For this report, We have relied on varying inputs across the industry and the main challenge has been to find the most comprehensive insight to the rolling stock market in India.
The detailed methodology followed by us is:
| Insights based on Primary Research | ● We had in-depth discussions with a range of industry professionals from the rail and metro sectors in order to obtain a thorough grasp of the state of the market at the moment and the most recent changes to policy in India’s rolling stock market. Additionally, we identified the main trends that will likely influence the market’s future potential. |
|---|---|
| Secondary Desk based Research | ● The primary research was followed by desk-based research, utilizing both publicly available and verified secondary sources such as NRP 2030, policies and programmes of the Railways etc. The insights and intelligence were also derived from our daily news feeds and company database. |
| Additional Sources | ● Additional information was obtained from public documents, interviews, and project announcements. A significant number of press releases and tenders were also thoroughly analyzed. |
| Research Assumptions | ● This research and analysis aim to provide an understanding of sector-based opportunities in India, particularly focusing on various railway and metro sector policies and developments. ● Public domain with perspectives from industry specialists and experts to garner deep. insights. ● The study primarily connects available insights from the public domain with perspectives from industry specialists and experts to garner deep insights. ● The exchange rate calculated for 1 USD is 83.00 INR. ● The expected price increase for future contracts is due to inflation, rising labour prices, price variance clause and raw material costs. ● This report does not address aftermarket suppliers or maintenance contracts. |
FAQs:
Yes, the report includes all rolling stock types—Vande Bharat, Locomotives, Metro coaches, EMUs, LHB coaches, Wagons, and more.
Yes, It includes the historical data on rolling stock manufacturing.
The rolling stock market is further divided into distinct sub-segments with future demand analysis.
Yes, We have covered significant suppliers active in India have been considered.
Yes, we have covered major collaborations, acquisitions and consortiums in the sector.
We have covered market of Locomotives, Wagons, LHB, EMUs, Vande Bharat, Vande Metro and Amrit Bharat trainsets.
The trends covered are digitalisation, automation, energy efficiency, green technologies, IoT integration, and predictive maintenance.
About us
We specialise in Market Research & Strategic Consulting for companies looking to diversify or expand their production for the Indian market. From assisting and understanding the market, developing a market strategy to establish their operations , together with strong local project partners, we are able to provide a complete insight into the Indian market