Market Share of Rail Asset Management Industry
The global rail asset management market is moderately competitive. It has many major players contributing significantly to the market share through their long-term partnerships in providing rail asset management solutions to railway operators, including public and private organizations. Market vendors are performing strategic investments in research and development, partnerships, mergers and acquisitions, and new technological development in their solutions to increase their market share. Some of the major players in the market are Siemens AG, Hitachi Ltd., Alstom, IBM Corporation, etc.
In April 2023, Quebec City, Canada, issued a contract with Alstom, a global leader in smart and sustainable mobility, to supply 34 Citadistrams for the city's tramway project for approximately USD 1 billion, which would include the rolling stock design, supply, and maintenance.
In January 2023, The SNC-Lavalin Group Inc was chosen as the delivery partner for Calgary's Green Line LRT (Light Rail Transit), in which the company would use its technical and business know-how in large, complex projects to support the completion of Phase-1 of the Calgary Green Line LRT Project, an 18 km transit system connecting the city's existing Red and Blue LRT lines and four MAX BRT routes.
Rail Asset Management Market Leaders
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Siemens AG
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Hitachi Ltd
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Alstom
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IBM Corporation
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Wabtec Corporation
*Disclaimer: Major Players sorted in no particular order
