The report discusses many vital industry facets that influence Global Rail Components industry acutely which includes extensive study of competitive edge, latest technological advancements, region-wise industry environment, contemporary market and manufacturing trends, leading market contenders, and current consumption tendency of the end user. The report also oversees market size, market share, growth rate, revenue, and CAGR reported previously along with its forecast estimation.
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Rail Components Market Segmentation:
Top leading Manufactures Profiled in Rail Components Market Report are:
CRRC Corp. Ltd, Siemens AG, Bombardier Inc., Alstom SA, Wabtec Corp. (previously GE Transportation), Hyundai Rotem, Stadler Rail AG, The Greenbrier Companies, Trinity Industries Inc., Construcciones Y Auxiliar De Ferrocarriles SA, Escorts Group, Hitachi Ltd, Progress Rail (Caterpillar Company), Nippon Sharyo Ltd, Kawasaki Heavy Industries Ltd
The rail components market is expected to reach USD 89.23 billion by 2024, while projecting a CAGR of 3.28%, during the forecast period.
Expanding rail network and increasing demand for passenger and freight transportation are driving the demand for the manufacturing of bogie, couplers, and body across the emerging and matured markets. The shift in trend toward deploying diesel-electric multiple units and electric multiple units from conventional diesel locomotives in the emerging markets has urged the manufacturers to expand their production bases, in order to benefit from import taxes and attain supply chain optimization, thereby, extending their support to promote the in-house manufacturing agenda of the developing countries.
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Rail Components Market Scenario:
Engine is Expected to be the Slowest Growing Segment in the Rail Components Market
The engine segment of the market studied was valued at USD 22.22 billion in 2018.
Steam and conventional diesel engines or locomotives are prominent in the market studied, with the latter category capturing more than 50% of the total number of operating trains across the world. China, being the largest market for rolling stock, comprises approximately 48% of diesel engines and 52% of electric multiple units.
Operational efficiency, maintenance, and operating costs are the factors that caused the replacement of steam engine with diesel and diesel-electric locomotives. The maintenance cost for the steam engine is the highest, followed by that of diesel and electric. Despite this, diesel locomotives are in the process of replacement by EMUs in the emerging markets, while North America is known for its demand for diesel engines. For instance –
– In the last quarter of 2018, Amtrak announced that it would be purchasing 75 charger locomotives, with the deliveries starting in 2021. All in all, the value of Siemens Mobility contracts for the year involving the charger, including the Amtrak purchase, exceeded USD 1.5 billion. Cummins is the supplier of diesel engines to the Siemens locomotives. In addition, the company won another contract worth EUR 639 million, which was signed with the Canadian company Via Rail for the supply of 32 train sets powered by charger diesel locomotives, by the end of 2021.
The engine segment of the market is expected to grow at a slow pace, owing to the demand arising from new orders, when compared to bogie and couplers, the demand for which is generated from the replacement market as well.
The key insights of the Rail Components Market report:
─The report provides key statistics on the market status of the Rail Components market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
─The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
─The Rail Components market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
─The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
─The report estimates 2020-2024 market development trends of Rail Components Market.
─Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
─The report makes some important proposals for a new project of Rail Components Industry before evaluating its feasibility.
In conclusion, Rail Components market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Rail Components Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.
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