(1) Overview and Development Trends of the Global Rail Transit Equipment Industry
① With the technological innovation in the global rail transit industry, the global rail transit equipment market has shown a strong growth trend
In today’s society, with the rapid development of the social economy, problems such as resource scarcity and serious pollution are prominent, resulting in insufficient passenger and freight transportation capacity, road traffic congestion, emission and noise pollution, and the convenience and safety of public transportation, which are increasingly being paid attention to. Therefore, countries around the world have taken the development of safe, efficient, green, and intelligent new types of rail transit as the leading direction for future public transportation development, and the development mode has also shifted from traditional mode to interconnected, sustainable, and multimodal transportation development. A new wave of technological innovation, represented by information networks, intelligent manufacturing, new energy, and new materials, is emerging globally, and the global rail transit equipment field is breeding a new round of all-round transformation. In recent years, with the technological innovation in the global rail transit industry, the global rail transit equipment market has shown a strong growth trend. The global market capacity in 2010 was 131 billion euros, reaching 162 billion euros in 2014. It is expected that the market capacity will exceed 190 billion euros by 2018, with a compound annual growth rate of 3.4%.
Global Rail Transit Equipment Market Size from 2010 to 2018 (100 million euros)
② Oligopolies have formed in the global rail transit equipment market, with China’s parking spaces ranking first
At the world-renowned Berlin Rail Transit Exhibition (Innotrans2016), the 2015 ranking of world rail transit equipment companies was based on the sales revenue of newly manufactured locomotives and vehicles by rail transit equipment companies. CRRC ranked first with sales revenue exceeding 22 billion euros, undoubtedly ranking first in the global rail transit equipment industry, and its sales revenue in 2015 was greater than that of Canadian Bombardier The combined sales revenue of Alstom from France, ranked third, and Siemens from Germany, ranked fourth, is 14. An oligopoly led by CRRC in the global rail transit equipment market has formed. According to CRRC’s 2016 annual report, CRRC achieved a revenue of approximately 229.7 billion yuan in 2016, of which railway equipment, urban rail, and urban infrastructure totaling approximately 134 billion yuan, accounting for 58.35%; In 2016, there were 262.6 billion yuan of new orders (including approximately 8.1 billion US dollars in international business contracts, a year-on-year increase of 40%), and 188.1 billion yuan of orders in hand at the end of the period. CRRC is expected to continue to solidify its position as the world’s number one in the field of global rail transit equipment.
(2) Overview and Development Trends of China’s Rail Transit Equipment Industry
① The rail transit equipment manufacturing industry has become one of the core competitive advantages in China’s high-end equipment manufacturing field, and is an important driving force for the rapid development of China’s emerging industries
After more than 60 years of development, China’s rail transit equipment manufacturing industry has formed an independent research and development, complete supporting facilities, advanced equipment, and large-scale operation of a rail transit equipment manufacturing system that integrates research and development, design, manufacturing, testing, and service. It includes electric locomotives, diesel locomotives, multiple units, railway passenger cars, railway freight cars, urban rail vehicles, key components of locomotives and vehicles, signal equipment, traction power supply equipment In the past decade, with the advancement of high-speed, heavy-duty, convenient, and environmentally friendly technology routes, high-speed multiple units and high-power locomotives have achieved remarkable achievements in 10 professional manufacturing systems such as track engineering machinery and equipment. China’s rail transit equipment manufacturing industry is a typical representative of innovation driven, intelligent transformation, strengthened foundation, and green development. It is one of the industries with the highest level of independent innovation, the strongest international innovation competitiveness, and the most obvious industrial driving effect in the high-end equipment manufacturing field of China. It has become the core competitive advantage of China’s high-end equipment manufacturing field in the global rail transit equipment market, It is an important driving force for the rapid development of emerging industries in China.
② The dual effects of policy support and market demand promote the rapid development of China’s rail transit equipment industry, with huge market space
Rail transit equipment is an important representative of China’s high-end equipment going global. The “Made in China 2025″ released by the State Council in 2015 clearly proposes to implement five major projects, including the construction of a national manufacturing innovation center, intelligent manufacturing, industrial foundation strengthening, green manufacturing, and high-end equipment innovation, through government guidance and resource integration, to achieve key common technological breakthroughs that long-term constrain the development of the manufacturing industry and enhance the overall competitiveness of China’s manufacturing industry. The “Made in China 2025 Key Fields Technology Roadmap” (referred to as the “Technology Roadmap”) sets out target requirements for rail transit equipment. By 2020, the research and development capabilities and leading products of rail transit equipment will reach global advanced levels, with industry sales output exceeding 650 billion yuan, overseas business accounting for over 30%, and service industry accounting for over 15%. Key products will enter the markets of developed countries in Europe and America; By 2025, China’s rail transit equipment manufacturing industry will have formed a comprehensive and sustainable innovation system, implementing intelligent manufacturing models in major fields. Its main products will reach international leading levels, with overseas business accounting for 40% and service industry accounting for over 20%. It will lead the revision of international standards, establish a globally leading modern rail transit equipment industry system, and occupy the high-end of the global industry chain. Guided by favorable national policies and driven by strong market demand, China’s rail transit equipment manufacturing industry is entering a period of rapid growth. By 2020, the market demand for the sales output value of the rail transit equipment industry exceeding 650 billion yuan provides broad prospects for the sustained and rapid development of the rail transit equipment industry. In 2020, the sales revenue of China’s railway rolling stock and multiple unit manufacturing industry exceeded 350 billion yuan, and the market demand for rail transit equipment industry chain is conservatively estimated to be around trillion yuan.
Forecast of the Sales Scale of China’s Railway Rolling Stock and Multiple Unit Manufacturing Industry from 2015 to 2020 (100 million yuan)
③ As an important pillar industry in the field of rail transit equipment in China, high-speed rail multiple units and urban rail transit equipment industry will accompany the implementation of the the Belt and Road strategy, comprehensively drive the coordinated development of the entire industrial chain, and enhance global influence. As we all know, high-speed rail has become one of China’s diplomatic cards and an important leader of rail transit equipment in China’s high-end equipment manufacturing industry. As the Chinese government vigorously promotes the implementation of the the Belt and Road strategy, the region radiates to countries in Central and South Asia, South Asia, Central Asia, and West Asia, and extends to Eastern Europe and North Africa, all of which have urgent needs for infrastructure construction and connectivity. It is estimated that the total population along the the Belt and Road is about 4.4 billion, accounting for 63% of the global total population, and its total economic volume is about 21 trillion US dollars, accounting for 29% of the global total economic volume. As China’s national strategy, the the Belt and Road has far-reaching strategic significance for China’s capacity transfer, upgrading in the international industrial division of labor, and establishing China’s voice in the world. As an important pillar industry in the field of rail transit equipment in China, high-speed rail multiple units and urban rail transit equipment will become the pioneer of the the Belt and Road Initiative with its unique characteristics of green environmental protection and high-volume transportation, driving the coordinated development of the entire industrial chain of upstream steel, nonferrous metals, rail infrastructure construction, supporting equipment construction, and related accessories of midstream and downstream vehicle equipment, urban operation, logistics, passenger and freight transportation, Enhance the global influence of China’s rail transit equipment manufacturing industry.
Post time: Aug-24-2023