(31/MAR)
The medium-term future looks bright for the rail sector. Although the downturn has undoubtedly had an impact — for example, there has been a significant decline in rail freight across Europe, and passenger growth has slowed in certain markets -- observers are still orecasting strong growth across the industry. The most recent Worldwide Rail Market Study by UNIFE (Association of the European Rail Industry) predicts robust growth across the entire rail supply industry to 2016.
Despite economic difficulties, governments are continuing to invest in rail infrastructure, and some are even increasing spending to counter the downturn. Investment in rail, particularly in high-speed passenger rail lines, is featuring in many governments’ stimulus packages, as outlined on pages 030 to 032.
Some of the arguments being put forward include the potential for improved railway infrastructure to provide longterm economic benefits. Rail development can also soak up labour from a depressed construction industry, and rail can offer significant environmental benefits in terms of tackling climate change.
There are additional global ‘megatrends’ that further favour the long-term growth of the industry. Increasing urbanisation, road congestion, rising fuel prices, and increasing identification of rail as a form of sustainable transport are all encouraging a shift to rail transport and, thereby, encouraging investment in infrastructure, rolling stock, rail control and services.
Investment in rail: Spain In Europe, Spain is taking a lead-role in rail development. Provisions to improve rail infrastructure are a central feature of the Spanish government’s €8bn “Plan E” scheme for economic growth and job creation.
Indeed, investment in rail has been a priority for the Spanish government for the last number of years. Spain’s Strategic Infrastructure and Transport Plan – PEIT- (2005-2020) places rail, particularly high-speed passenger rail, centre stage in the development of the country’s transport system. PEIT envisages that, by 2020, Spain will have 10,000km of high-speed lines, all provincial capitals will be connected to the high-speed network and 90 per cent of the population will be less than 50km from a station served by high-speed lines.
