Railway Passenger Coach Market

The article discusses the global trends in railway passenger coach consumption, production, imports, and exports. China leads in both consumption and production, with high growth rates. The Philippines and Israel have high per capita consumption rates. Import and export trends show growth in certain countries such as Thailand and France. Overall, the market is expected to see increases in consumption and value over the next eight years.

Market Forecast

Driven by rising demand for railway passenger coach worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +12.5% for the period from 2022 to 2030, which is projected to bring the market volume to 128K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +10.0% for the period from 2022 to 2030, which is projected to bring the market value to $50.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Railway Or Tramway Passenger Coaches (Not Self-Propelled)

In 2022, consumption of railway or tramway passenger coaches (not self-propelled) decreased by -80.9% to 50K units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption recorded a mild slump. As a result, consumption attained the peak volume of 260K units, and then dropped markedly in the following year.

The global railway passenger coach market size shrank sharply to $23.4B in 2022, falling by -66.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed slight growth. As a result, consumption reached the peak level of $70.1B, and then reduced rapidly in the following year.

Consumption By Country

China (15K units) constituted the country with the largest volume of railway passenger coach consumption, accounting for 30% of total volume. Moreover, railway passenger coach consumption in China exceeded the figures recorded by the second-largest consumer, the United States (3.8K units), fourfold. The third position in this ranking was held by India (3.3K units), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +5.6%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+3.3% per year) and India (-0.9% per year).

In value terms, China ($6.6B) led the market, alone. The second position in the ranking was held by the United States ($3B). It was followed by Germany.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +2.4%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+3.7% per year) and Germany (-1.1% per year).

In 2022, the highest levels of railway passenger coach per capita consumption was registered in Israel (234 units per million persons), followed by the Philippines (21 units per million persons), Germany (17 units per million persons) and France (14 units per million persons), while the world average per capita consumption of railway passenger coach was estimated at 0.1 units per million persons.

In Israel, railway passenger coach per capita consumption shrank by an average annual rate of -19.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Philippines (+17.2% per year) and Germany (-1.5% per year).

Production

World Production of Railway Or Tramway Passenger Coaches (Not Self-Propelled)

In 2022, approx. 49K units of railway or tramway passenger coaches (not self-propelled) were produced worldwide; dropping by -81.2% compared with the year before. In general, production, however, posted a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 495%. As a result, production reached the peak volume of 258K units, and then declined dramatically in the following year.

In value terms, railway passenger coach production expanded modestly to $24.5B in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 7.7%. Global production peaked at $27B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of railway passenger coach production was China (18K units), comprising approx. 37% of total volume. Moreover, railway passenger coach production in China exceeded the figures recorded by the second-largest producer, the United States (3.8K units), fivefold. The third position in this ranking was taken by India (3.4K units), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +6.3%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+3.2% per year) and India (-0.6% per year).

Imports

World Imports of Railway Or Tramway Passenger Coaches (Not Self-Propelled)

Global railway passenger coach imports skyrocketed to 7.3K units in 2022, growing by 30% against 2021. In general, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 152%. Global imports peaked at 18K units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, railway passenger coach imports reduced dramatically to $1.2B in 2022. Over the period under review, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 61%. Over the period under review, global imports hit record highs at $1.9B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

Israel (2.1K units) and the Philippines (2K units) represented roughly 57% of total imports in 2022. It was distantly followed by France (448 units) and Thailand (421 units), together constituting a 12% share of total imports. The following importers - Egypt (233 units), Croatia (228 units), Turkmenistan (187 units), Spain (154 units) and Germany (141 units) - together made up 13% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +115.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest railway passenger coach importing markets worldwide were Egypt ($166M), Turkmenistan ($146M) and Israel ($58M), together comprising 31% of global imports. Spain, Germany, France, the Philippines, Thailand and Croatia lagged somewhat behind, together accounting for a further 5.9%.

The Philippines, with a CAGR of +177.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average railway passenger coach import price stood at $164,618 per unit in 2022, with a decrease of -41.7% against the previous year. Over the period under review, the import price, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 222%. Global import price peaked at $395,749 per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkmenistan ($781,754 per unit), while Croatia ($190 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+28.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Railway Or Tramway Passenger Coaches (Not Self-Propelled)

In 2022, overseas shipments of railway or tramway passenger coaches (not self-propelled) increased by 68% to 6K units for the first time since 2019, thus ending a two-year declining trend. In general, exports showed resilient growth. The growth pace was the most rapid in 2018 with an increase of 101% against the previous year. Over the period under review, the global exports hit record highs at 7.9K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, railway passenger coach exports expanded to $1.6B in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 83%. Over the period under review, the global exports hit record highs at $2.2B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (2.9K units) was the largest exporter of railway or tramway passenger coaches (not self-propelled), mixing up 49% of total exports. Hungary (572 units) took the second position in the ranking, followed by Thailand (416 units), Switzerland (369 units) and Russia (282 units). All these countries together held approx. 28% share of total exports. Belarus (191 units), France (175 units), Germany (124 units), Japan (112 units), Turkey (109 units), the Czech Republic (97 units) and South Korea (93 units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to railway passenger coach exports from China stood at +10.8%. At the same time, Thailand (+59.1%), Switzerland (+53.7%), Belarus (+51.5%), Hungary (+36.8%), France (+27.0%), the Czech Republic (+25.5%), South Korea (+21.7%), Turkey (+13.1%), Russia (+13.0%) and Japan (+13.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +59.1% from 2012-2022. By contrast, Germany (-7.2%) illustrated a downward trend over the same period. While the share of Hungary (+8.6 p.p.), Thailand (+6.8 p.p.), China (+6.3 p.p.), Switzerland (+6 p.p.), Belarus (+3.1 p.p.), France (+2.3 p.p.) and Turkey (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-8.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest railway passenger coach supplying countries worldwide were Belarus ($279M), Japan ($201M) and France ($184M), together accounting for 42% of global exports. Russia, Germany, South Korea, Hungary, China, Switzerland, Turkey, Thailand and the Czech Republic lagged somewhat behind, together accounting for a further 43%.

Among the main exporting countries, Thailand, with a CAGR of +108.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average railway passenger coach export price stood at $264,623 per unit in 2022, reducing by -38.8% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2021 an increase of 174% against the previous year. The global export price peaked at $1,200,808 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($1,791,429 per unit), while the Czech Republic ($1,326 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+44.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform