Global Train Market Report and Forecast 2024-2032

Global Train Market Size

The global train market reached around USD 71.82 billion in 2023. The market is projected to grow at a CAGR of 3.6% between 2024 and 2032 to reach nearly USD 98.74 billion by 2032.

Global Train Market Outlook

• The United States has the world’s largest network of railway tracks, at 250,000km.

• China and Russia are followed by the USA, with a railway network of 124,000 km and 86,000 km, respectively.

• India has the fourth-largest network of railways in the world, at over 80,000km.

Global Train Market Growth

The global rail industry accounted for around 1.1 billion tons of carbon emissions in 2022. As concerns for environmental protection intensify, the sector is boosting its commitment to sustainable practices. In 2023, over 10,000 electric trains were globally in operation. Multiple stakeholders are enhancing their investments to produce emissions-free trains. For instance, as a part of its commitment to reduce carbon emissions by 50% by 2030, the European Investment Bank is investing EUR 39 trillion towards the development of its railways.

The United Kingdom’s watchdog for British transport users, Transport Focus, suggests that over 80% of passengers feel safe when travelling by train. However, the mounting incidences of train accidents in 2022 have necessitated investments in the development of cutting-edge safety technologies like automatic train protection systems to minimise the risk of loss of human lives and enhance the safety of travelling.

Digitalisation is reshaping the future of the railway industry by providing opportunities for various data-driven enhancements. This includes the use of AI-powered cameras for detecting anomalies in railway tracks and promptly notifying railway operators to bolster their security measures to prevent train accidents. Moreover, AI tools can be used to analyse passenger behaviour and optimise train schedules, thereby boosting the travelling experience of passengers.

Global Train Industry Segmentation

Global Train Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Distribution Channel

• Online

• Offline

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Train Market Share

The market is segmented based on region into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is projected to dominate the market, representing 46% of the overall market share, while registering a CAGR of 4.3% over 2024-2032. This is due to rising infrastructure development in countries like India and China. In the forecast period of 2024-2032, India is assessed to grow at a CAGR of 5.0% due to the modernisation and advancement of rolling stocks and the rising integration of advanced technologies in trains.

Leading Companies in the Global Train Market

Major rail companies are focusing on the integration of new onboard equipment into passenger trains that enable people to stay connected and enjoy a delightful travel experience with the provision of personalised information and services.

• Amtrak Corporation

• Deutsche Bahn AG

• SNCF Group

• East Japan Railway Company

• Italian State Railways

• ÖBB Group

• Via Rail Canada Inc.

• Korea Railroad Corporation

• Central Japan Railway Company

• Greater Anglia

• Others

Key Highlights of the Report

Train Market Report Snapshots

Train Market Size

Train Market Growth

Train Market Share

Train Companies