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Rail News: High-Speed Rail

Global passenger rail-car market to grow rapidly during next five years, Lucintel says


Between 2004 and 2009, the global passenger rail-car market grew at a compound annual growth rate of 9.1 percent. The worldwide market is expected to register double-digit growth by 2015, with new car sales reaching $39.1 billion, according to a report issued recently by global management consulting and market research firm Lucintel.

The report concludes that environmental concerns, growing economies, and noise and congestion from personal vehicles will drive passenger-rail market growth.

Because Asia currently has the world’s largest passenger-rail network, and its economies are reforming faster than others, the Asian rail market future is the most promising, the report states. High-speed rail service will continue to grow in China, Korea and Japan, and metro service is being added in India.

Europe will remain the overall passenger-rail market leader, with Asia Pacific the second largest. China will become the largest high-speed rail market between 2010 and 2015, according to the report. Meanwhile, North America likely will lag behind because of the growing popularity of personal automobiles, Lucintel said.

The report analyzes market size and share, trends and forecasts for the passenger-rail market, as well as industry leaders and growth opportunities.

Contact Progressive Railroading editorial staff.

More News from 12/2/2010