DUBAI, United Arab Emirates, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The net worth of the railway draft gears market share is expected to increase from US$ 2,083.8 Mn in 2023 to more than US$ 3,236.1 Mn by 2033. From 2023 to 2033, the market for railway draft gears is projected to grow at a modest CAGR of 4.5%.
The market is probably going to be fueled by ongoing expenditures in railroad line projects and the global growth of train networks. Several domestic and international railroad projects are now in the planning, development, or construction phases, which is encouraging for the market's future expansion.
Railway draft gears are in high demand in the sector that produces railroad equipment. The rising cost of gasoline internationally is mostly to blame for this increase in demand. Due to this, railroads now account for a greater portion of freight transportation than vehicles do. The sole sources of income in this specific industry are long-term contracts and leases with big railroad companies.
Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15954
The rise of a technologically enhanced and open world has expanded the usage of IoT in the railway industry. The rapid adoption of IoT and safety in the rail sector will fuel the market growth during the forecast period.
There will be more chances for OEMs to grow their income streams and global reach as electrified network train lines are expanded and metro project development increases. The development of rail networks in highly populated areas and rising investments in rail infrastructure are only two examples of factors that will support the growth of the railway draft gears industry.
North America accounts for the biggest market share over the projected period. According to the Association of American Railroads, the United States has a top-notch freight rail network, which is the foundation of the country's economy. Rising consumer demand, improved passenger safety measures, and technical as well as operational developments are the main drivers of the studied market in the region.
Key Takeaways
- The Chinese railway draft gears market is likely to rise at a CAGR of 5.3% over the forecast period.
- Over the forecast period, the German railway draft gears market is expected to have a market share of 5.4%.
- The US railway draft gears market is estimated to possess a market share of 18.3%.
- The Japanese railway draft gear market is expected to secure a market share of 6.3%
- Over the forecast period, the freight wagon segment is projected to hold a market share of 48.4%.
Limited time Offer, Get Customization with 40% discount: https://www.futuremarketinsights.com/customization-available/rep-gb-15954
COMPETITIVE LANDSCAPE
In the railway draft gears market, key players and innovative vendors include Amsted Rail, Oleo, Sigra, Titagarh, Wulf's Custom Welding, Hydra-Tech International, LAF, Zhuzhou Times New Material Technology(TMT), Salco Products, CRRC, IPS, TESCO, PowerRail and others.
These companies have used a variety of tactics to enhance their market share for railway draft gears. To increase their client base and revenue, they have used both organic and inorganic growth techniques, including new product launches, acquisitions, corporate expansions, and collaborations.
RECENT DEVELOPMENTS
- In October 2021, to facilitate the design and performance of rail components, Wabtec Corporation, a leading technology provider for the freight and transit rail industries, established a top-tier international engineering lab in Bengaluru, India. The new structure increases Wabtec's technological capabilities and houses the business's largest lab in India.
- In February 2019, GE completed the first phase of its merging with Wabtec in return for USD 2.9 million in cash and Wabtec non-voting convertible preference shares.
For more Information: https://www.futuremarketinsights.com/reports/railway-draft-gears-market
Key Segments in the Railway Draft Gears Market
By Rail Type:
- Locomotive
- DMUs
- EMUs
- Freight Wagon
- Others
By Sales:
- OEMs
- Aftermarket
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
Request to View TOC: https://www.futuremarketinsights.com/toc/rep-gb-15954
Explore Wide-ranging Coverage of FMI’s Automotive Landscape
Automotive Load Floor Market Share : was valued at US$ 1.9 Bn in 2021. Increasing sales of electric vehicles and passenger automobile across the globe are expected to boost demand at a 5% CAGR, pushing the market size to US$ 3.3 Bn in 2032.
Valve Seat Inserts Market Growth : to grow with year over year growth of 4.0% in 2022 reaching value of about US$ 5,881.9 Mn by 2022 end. The global business is anticipated to witness a considerable CAGR of 4.0% by value during the period of 2022 and 2029.
Europe Trolley Bus Market Demand : to grow with year over year growth of 2.9% in 2022 reaching a value of about US$ 743.9 Mn by 2022 end.
Aircraft Carbon Brake Disc Market Size : is projected to have an average CAGR of 6% during the forecast period. The current valuation of the market is US$ 1,136.23 Million in 2022. The value of the aircraft carbon brake disc market is anticipated to reach a high of US$ 2,034.81 Million by the year 2032.
Marine Fin Stabilizer Market Outlook : is projected to expand at CAGR of 3.7% during 2022 to 2029 and reach valuation of US$ 226.9 Mn by end of 2029.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
