The United States ranks below many industrialized nations when it comes to ridership on its passenger rail, but investment in U.S. rail is picking up. Railcar manufacturing revenue in the U.S., including for freight trains, is expected to reach $2.9 billion by 2028. Meanwhile, investment in passenger rolling stock, which includes high-speed rail, light rail, metro, passenger coaches and locomotives, is expected to increase at a rate of 4.7% per year between 2021 and 2026 across North America. A big boost to the rail industry comes from the Infrastructure Investment and Jobs Act, which was passed in 2021 and designates $66 billion to improve the nation’s rail system. Train manufacturers are hoping to see some of that money trickle down to them. CNBC visited two of the biggest passenger railcar manufacturers operating in the country, Siemens and Alstom, to see how they are ramping up production and to learn what they see as the future of passenger rail in the US.
Chapters:
00:00 — Introduction
03:30 — Siemens
07:41 — Alstom
12:00 — Challenges
15:52 — Future of passenger rail
Produced and Shot by: Magdalena Petrova
Edited by: Marc Ganley
Animation: Christina Locopo
Senior Producer: Shawn Baldwin
Supervising Producer: Jeniece Pettitt
Additional Camera: Katie Brigham, Sydney Boyo, Juhohn Lee
Additional Footage: Getty Images, Alstom, Siemens, Amtrak
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Why Passenger Train Manufacturing Is Booming In The U.S
