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Why Passenger Train Manufacturing Is Booming In The U.S

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 » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Why Passenger Train Manufacturing Is Booming In The U.S