Globally, the high-speed rail market is growing. Over the next ten years, the global network of high-speed rail lines will grow quickly, at an average rate of 4.6% each year. Although Asia is still the biggest market, it is not the only one growing. New growth is coming from places outside Asia, like the United States, Egypt, and Saudi Arabia. Europe is also doing a lot to develop high-speed rail, with projects in countries like Spain and the UK (HS2), as well as various tunnel construction projects that are important for international high-speed transport.
Europe
There are lots of passengers using rail services in Europe, and they want to travel more. This means that companies like Trenitalia, Renfe and SNCF want to travel to more places in Europe. They are doing this by operating under their own brands or through subsidiaries. This means they are competing in cross-border and domestic services. They are competing against state operators and private providers such as Italo and WESTbahn. This is happening in countries like France, Spain and Italy. New companies such as Proxima, Le Train, Kevin Speed, and Virgin are getting ready to start operating too, with Proxima having already ordered new high-speed trains.
Asia and Africa vs. Europe
In Asia, there is a clear emphasis on very high-speed rail transport, driven by new vehicles and automated operating systems. Very high-speed connections, especially in China, South Korea, and Japan, are popular because they save a lot of time when travelling long distances. In Europe, trains can only go faster than 300 km/h in France. In Germany, trains like the ICE 3 Neo, which are designed for high speeds, often can't reach their full potential because of mixed traffic conditions, but their ability to speed up quickly is still important. In countries like Morocco and Indonesia, high-speed rail is seen as a big achievement.
Rolling stock fleet
At the same time, the fleets of trains used on the railways are getting bigger. The global OEM market volume reached almost EUR 8 billion in 2024, while the aftermarket segment, valued at nearly EUR 20 billion, is roughly two-and-a-half times larger. The aftermarket sector is expanding due to increasing vehicle numbers and established markets requiring the initial development of infrastructure for maintenance and modernisation, the SCI Verkehr study concludes.
