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(Transportation-News.com, October 18, 2017 ) Trains are an important mode of the transportation industry and offer many advantages that one cannot get by air or car. In the recent past, there is an intense competition among train manufacturers around the world. Recently, a latest study has been published to the wide repository of Market Research Hub (MRH), which states that train manufacturing has experienced significant change over recent years, impacting the extent of competition within the global market. The study is titled as “Competing in train manufacturing - Global market undergoing swift development” and as the name suggests it talks about how the competition is impacted by the transport policies of governments. Also, the study explores how governments can impact the shape of the train market in the coming years.
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The research finds that China Railway Rolling Stock Corporation (CRRC), a Chinese government company is changing train manufacturing market forever. The study highlights key pointers on the impact of CRRC on the international market. It details about the CRRC revenues 2011-2016 (RMBbn) and CRRC Los Angeles Metro deal signed. Additionally, CRRC research and development expenditure ($bn) are presented. Itself the result of a mega-merger between the two leading Chinese train manufacturing companies CNR and CSR; CRRC is seeking to increase overseas and has already made a big impact, forcing existing players in numerous valuable markets to compete harder to win contracts. It has been analyzed that CRRC has reduced domestic competition and changed the international market.
Moving further, the report also assesses that how the industry has changed due to consolidation. Consolidation has been a leading theme in the train manufacturing market in recent years. Leading companies have raced to acquire companies operating in alternative markets. In response to the Chinese merger, two leading European companies Siemens and Alstom merged, creating a European company capable of competing against CRRC. All along, European train-makers were facing growing competition from China, where train output began to eclipse Bombardier, Alstom and Siemens from 2011. Yet increased competition overseas has also had a negative impact on some domestic markets; the two leading players in China merged after a period of fierce price reductions, as mentioned earlier.
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According to the key highlights, The United Kingdom serves as a useful example of the impact transport policy can have on competition among train manufacturers. Several high-profile projects have resulted in extensive orders being placed in a relatively short span of time, attracting much foreign competition. In terms of geography, not only in developing, but also in developed economies competition revolves as much around keeping the trust of governments as it does around producing high-quality trains, and this is even more so the case in the developing world.
As the report proceeds to the conclusion, analysts find that competition in train manufacturing is moving at speed but is also creating problem.
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