Railway Aftermarket Market Report 2025

The railway aftermarket market size has grown strongly in recent years. It will grow from $88.95 billion in 2024 to $94.77 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period was driven by rapid urbanization, increased industrialization, a rise in international trade, the privatization of railways, and the standardization of rail components.

The railway aftermarket market size is expected to see strong growth in the next few years. It will grow to $120.84 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the rising adoption of sustainable practices, increasing rail travel, the growing promotion of public transport, the expansion of smart cities, and greater private sector participation. Major trends expected during this period include technological advancements in rail propulsion systems, a shift toward renewable energy, the adoption of big data analytics, the integration of 5G technology for rail communication, and innovations in rail vehicle design.

The growing use of railway transportation is expected to drive the expansion of the railway aftermarket market. Railway transportation involves moving passengers and goods via trains on rail networks, providing efficiency, cost-effectiveness, and connectivity. This rise in railway transportation is largely due to environmental concerns and the increasing demand for efficient and sustainable transportation solutions. Rail transport is seen as an eco-friendly alternative to road and air travel because it generates lower carbon emissions per passenger or ton of freight. The railway aftermarket plays a key role in enhancing railway transportation by ensuring continuous performance, safety, and efficiency. It offers essential services such as maintenance, repair, and the supply of replacement parts, which help maintain trains in optimal working condition and reduce downtime. For example, in October 2024, The Office of Rail and Road (ORR), a UK-based independent safety and economic regulatory body, reported that Great Britain experienced 420 million rail passenger journeys from April to June 2024, a 7% increase compared to the same period in 2023. Thus, the rising use of railway transportation is fueling the growth of the railway aftermarket market.

Companies in the railway aftermarket market are focusing on advanced solutions, such as train maintenance services, to extend the lifespan of railway assets through predictive maintenance and digital diagnostics. A train maintenance service solution integrates predictive, preventive, and corrective strategies to improve railway safety, reliability, and efficiency. It utilizes advanced diagnostics, data analytics, and automation to optimize performance and reduce downtime. For instance, in March 2024, Hitachi Rail Limited, a UK-based rolling stock and railway signaling manufacturer, launched Train Maintenance DX as a Service. This service uses AI-based automatic inspection technology to identify faulty components before they fail and leverages 3D drawings in a vehicle metaverse. The service aims to modernize train maintenance by digitizing paper-based management systems and replacing traditional technical training with digital toolkits that can be easily distributed.

In March 2024, Alstom SA, a France-based provider of traction components and maintenance services, partnered with SLC Rail to introduce a new passenger rail service in the UK. This collaboration aims to provide a direct, open-access passenger train service between London, North Wales, Shropshire, and the Midlands, enhancing connectivity and offering competitive fares without relying on taxpayer subsidies. SLC Rail is a UK-based rail consultancy and project management firm that focuses on rail infrastructure.

Major players in the railway aftermarket market are ZF Friedrichshafen AG, ABB Ltd., Alstom SA, Kiewit Corporation, Siemens Mobility GmbH, Wabtec Corporation, Hitachi Rail Limited, Knorr-Bremse AG, Stadler Rail AG, CRRC Corporation Limited, Harsco Rail, Unipart Group Ltd., RailWorks Corporation, The Walsh Group Ltd., Loram Maintenance of Way Inc., Gemco Rail, MERMEC S.p.A., CJSC Transmashholding, Bemo Rail BV, Plasser & Theurer Export von Bahnbaumaschinen GmbH, Linsinger Maschinenbau GmbH.

North America was the largest region in the railway aftermarket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in railway aftermarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the railway aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The railway aftermarket encompasses a range of products and services offered after the initial sale of railway equipment, including maintenance, repairs, and spare parts. It involves supplying components, upgrades, and support services to ensure the continuous operation and safety of railway systems. The railway aftermarket plays a crucial role in maintaining rail networks, minimizing downtime, and optimizing the performance of rail infrastructure and rolling stock throughout their lifecycle.

The primary product types in the railway aftermarket include rail infrastructure, rolling stock and locomotives, metro, high-speed railway (HSR), light rail and trams, locomotives, passenger coaches, and freight wagons. Rail infrastructure consists of essential physical and organizational components, such as tracks, stations, and signaling systems, which facilitate railway operations. The key subsystems include traction and propulsion, bogies or wheelsets and suspension, body structures, braking systems, auxiliary systems, rail tracks, and others. These aftermarket services are provided by various service providers, including original equipment manufacturers (OEMs), railway operators, and third-party or component suppliers.

The railway aftermarket market research report is one of a series of new reports that provides railway aftermarket market statistics, including the railway aftermarket industry global market size, regional shares, competitors with the railway aftermarket market share, detailed railway aftermarket market segments, market trends, and opportunities, and any further data you may need to thrive in the railway aftermarket industry. This railway aftermarket market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The railway aftermarket market consists of revenues earned by entities by providing services such as maintenance and repair, spare parts supply, upgrades and modernization, consulting and training, and digital solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The railway aftermarket market includes sales of signaling systems, track infrastructure, and electrical parts. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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