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Railway technology remains on a course for growth worldwide despite the economic crisis-average growth of a good 4% per year
[06.09.2009] Following the high growth rates of recent years, the speed of growth has slowed down considerably, but the demand for the railways is still rising. The market currently has a volume of EUR 126.5 billion (mean of 2008–2010) and thus 1% more than in the previous year. Up to 2014, SCI Verkehr expects average growth of a good 4% per year to EUR 155 billion.
The global economic crisis is of course having an effect on the rail industry as well – although the effect on its various industry segments and market regions varies in severity and occurs with a time delay. Global megatrends such as urbanisation, increasing global trade, scarcity of resources and environmental protection will continue to stimulate sales of railway products in the future.
The drop in demand for freight transport is having a particularly negative effect on the sales of new freight wagons and locomotives. In these product segments, the current market volume has fallen considerably compared to last year and will only recover slowly in the coming five years. In contrast, infrastructure technology in many countries is benefiting from newly launched economic stimulus packages. The picture as regards products for passenger transport varies depending on country, but remains on a course for growth compared to the volatile market for freight transport products.
"The German railway industry is considered the number one in the world when it comes to technological leadership and reliability. In many high-end segments of the railway industry, midsized companies from Germany are still the world’s market leaders. Unfortunately this small yet mighty sector has not really been amatter close to the heart of German politics in the past. Up-and-coming competitors from Asia and Eastern Europe enjoy much stronger political backing. Without political countermeasures, valuable jobs in Germany will be at risk, despite the positive growth dynamics in the global markets”, criticises Maria Leenen, CEO of SCI Verkehr in Hamburg.
Due to the current economic crisis, consultancy firm SCI Verkehr, which specialises in strategic aspects of the railway industry, has carried out a complete review of the budgets available for railway investments. It has also reassessed all other input parameters such as transport demand and growth forecasts, as well as current and upcoming railway projects worldwide, in light of the crisis. The fully updated study
“The Worldwide Market for Railway Technology 2009–2014”, the flagship of SCI Verkehr’s successful MC Studies, is available now:
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