A market share, with GE Transportation capturing 3.9 percent.

A large number and variety of suppliers serve the rail rolling
stock market. Market shares here do not directly reflect those in the overall
rail transportation industry. ARC observes that rolling stock market is managed
as separate business units at those companies that also offer other products
and solutions such as rail signaling systems, services, and customized
maintenance.

The top three rolling stock providers – CRRC, Bombardier,
and Alstom. CRRC captured largest market shares in 2017 (44 percent); mainly
because of merger between CSR and CNR, but so did players such as Siemens and
GE Transportation have substantial rolling stock portfolio addressing passenger
and freight trains. Compounding this landscape is the continual rise of new
competitors that promise cost-saving, value-added technological innovations
that appeal to railroads that seek more affordable systems and lower operating
costs.

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The leading suppliers of rail rolling stock in 2017 represents
diverse supplier profiles. CRRC’s $28,904 million rolling stock business
captured the lead position, followed by Bombardier’s $5,350 million, and Alstom
and Siemens with $3,630 million and $3,560 million. These suppliers constitute 63.7
percent of the total rolling stock market size. All remaining competitors
captured less than 5 percent market share, with GE Transportation capturing 3.9
percent.

Industry Segments

The rail industry is
typically segmented into the following categories: rolling stock (trainsets),
infrastructure (components, rails, installation, etc.), rail signaling or train
control, and services. Rolling stock industry is further segmented into trains,
locomotives, and wagons.

Rolling stock and
locomotives comprises all the vehicles that move on a railway, although in
several countries the term is usually used to refer only to non-powered
vehicles; specifically excluding locomotives. There is a wide range of types of
rolling stock, which can be broken down in various segments:

This report segments
the type of trains serviced by the following categories: high speed/very high
speed (VHS), mainlines, light rail, metro/subway, freight, and
industrial/mining. While definitions vary by geography, high-speed trains
typically operate at 200 to 250 km/hour and VHS trains range from 300 to 350
km/hour. Mainlines are traditional rolling stock and infra-structure
operations, typically used for passengers but may also be used for freight. (Very)
high speed trains run at speeds of at least 220 km/h. The trains can consist of
multiple units or can be a single carriage, with a driver’s cab at one or both
ends.

Light rail or light
rail transit is a form of urban/suburban rail public transportation that
generally has a lower capacity and lower speed than heavy rail and metro
systems. The metro/subway category includes rapid transit, underground, subway,
elevated railway, and metro/metropolitan railway systems with a high capacity
and frequency. These systems are typically located in underground tunnels, on
elevated rails above street level, or outside urban centers, or they may run on
grade separated ground level tracks. Metro vehicles including two specific
types of metro vehicles, those using rubber tire wheels or those using
automation.

Multiple units are
self-propelled carriages that consist of more than one carriage, coupling several
similar carriages, and that are controlled by one driving cab. Multiple units
are classified by their power source and are of two main types: electric
multiple unit (EMU) or diesel multiple unit (DMU). They are primarily used for
passenger transport. Sometimes a further differentiation is based on speed
and/or the type of lines they serve (eg. Intercity, regional, local). Wagons
are passenger railway vehicles other than passenger railcars1, and also include
sleeping cars, saloon cars, dining cars, etc. Freight wagons are railway
vehicles intended for transport of goods.

Locomotives provide the
motive power for a train. Locomotives have no payload capacity of their own,
and their sole purpose is to move the train along the tracks. In contrast, some
trains have self-propelled payload-carrying vehicles. A further classification
of locomotives is based on their power source, mainly diesel or electricity.

The freight category is
used to separate solutions specifically targeted for freight, not passenger,
operations. The industrial/mining category is a burgeoning one characterized by
lower speed requirements, a tendency to look beyond conventional signaling due
to maintenance and other issues, and a rising interest in driverless operation.

The research also segments the market based on
geography. The four segmentations are North America; Europe, Middle East, and
Africa; Asia Pacific; and South America.