The average annual market volume of railway technology in North America is forecasted to be around 26.5 billion British pounds by 2019. Asia will be the region with the highest market volume, followed by Western Europe. The compound annual growth rate of the North American railway technology market is expected to grow by 2.2 percent between 2013-2015 and 2019-2021.
In 2015, the leading railway vehicle manufacturer based on new vehicle revenue was CRRC Corporation. The company is a state-owned enterprise headquartered in Beijing and formed in June 2015 from the merger of China CNR Corporation and CSR Corporation Limited, the leading rolling stock manufacturers in the world. In the fiscal year of 2016, CRRC generated operating revenue to the value of 32.3 billion U.S. dollars. That year, Germany's Siemens raked in some 7.8 billion euros in revenue from its Mobility segment. The company is increasing its efforts to push past its Chinese rival.
U.S. railroads are divided into Class I railroads and other railroads. Between 1995 and 2012, the number of Class I railroads declined from 11 to 7 railroads. The number of other railroads increased to 567 in 2012.
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