Europe, September 2026 — The global railway supply market is expected to continue expanding through the end of the decade, although growth patterns differ significantly between regions and market segments. According to SCI Verkehr’s Worldwide Market for Railway Industries 2026 study, the global market is forecast to grow by an average of 3.9% annually through 2030 and exceed €275 billion.
Europe recorded an estimated average annual rail market volume of €77.7 billion between 2024 and 2026, compared with €73.9 billion in Asia. European growth is being supported by fleet renewal, signalling upgrades, European Train Control System (ETCS) deployment, urban rail programmes and high-speed rail investment.
SCI Verkehr forecasts European rail industry growth of 4.4% annually from 2025 to 2030, above the global rate of 3.9%. Asia is expected to grow by approximately 3.0% annually, with China's transition from rapid network expansion towards fleet renewal and after-sales services contributing to the change in regional market dynamics. India and Southeast Asian markets continue to expand but are not expected to fully offset slower growth in China.
Passenger rail is identified as a major source of global market growth, supported by recovering passenger volumes, urbanisation, metro and light rail expansion, and high-speed rail programmes. Digitalisation is also increasing its contribution across rail technology segments, while infrastructure spending is increasingly shifting towards renewal, capacity improvements and modernisation of existing networks rather than expansion alone.
The outlook varies considerably across other regions. North America is estimated at €29.9 billion and forecast to grow by 4.2% annually, while Africa and the Middle East are projected to grow by 6.1% from a €9.0 billion market base. At the same time, freight rail faces weaker conditions globally, with European freight particularly affected by declining bulk volumes, industrial weakness and constrained network capacity.
Source: Rail Market
Europe Overtakes Asia As Largest Regional Rail Market
Journalism & Media
Share this story
The global rail industry is entering a period increasingly shaped by fleet renewal, digitalisation and passenger-rail investment rather than rapid network expansion alone. Europe has overtaken Asia as the largest regional rail market, with SCI Verkehr estimating an average annual market volume of €77.7 billion for 2024–2026.
