Global Market Study on Rail Wheels and Axles: Increasing Government Investments in Large-scale Public Transport Infrastructure Aiding Market Growth


Rail Wheel And Axle  Market
  • Report code : PMRREP22777 |
  • Industry : Automotive |
  • Published On : Aug-2020 |
  • Pages : 300 Pages |
  • Format : Rail Wheel And Axle  Market Rail Wheel And Axle  Market Rail Wheel And Axle  Market Rail Wheel And Axle  Market

Over the past few years, smart railway stations have cropped up across many developing countries. Various governments are aiming to modernize their rail transportation centers for making their railway stations smarter. In Spain, International Union of Railways (UIC) and Spanish rail infrastructure manager ADIF have come together to achieve the goal of ‘Smart Stations in Smart Cities’. In India, the Ministry of Railway and Ministry of Urban Development have teamed up to achieve the smart city mission. Moreover in metropolitan cities, governments are concentrating on investing substantially to encourage the introduction of large-scale public transport infrastructure, such as bullet trains and high speed trains, to make public transport quicker. All these factors are expected to lead to the expansion of the rail wheel and axle market size over the coming years.

Rail Wheel and Axle Market Drivers

Digitalization is Changing Railway Technology: Digitization will enhance safety in rail infrastructure and improve overall operational efficiency. Furthermore, continuous digitalization in railway networks will allow consumers to get real-time information related to train movements and train position. This particular factor is anticipated to further drive the global rail wheel and axle market. Automation in metro trains is gaining traction across the world, as it is anticipated that train automation will reduce overall energy consumption by up to 42%. Cutting-edge innovations in rail networks, such as the inclusion of 5G networks, is anticipated to boost the market during the forecast period.

Use of Lightweight Materials for Autonomous Driving Trains: Increasing technological advancements in train networks and trains, along with the trend of autonomous technology, are compelling train manufacturers to invest hefty sums in R&D for the manufacturing of light materials for wheels and axles for freight trains, passenger trains, and short-distance trains.

Approximately 7 Bn passengers travel each year by trains, and these passengers desire to reach their destinations quickly and comfortably at a low fair. This is another factor driving autonomous technology in trains. Moreover, autonomous trains are also projected to gain superior traction, owing to the fact that they are equipped with computerized monitoring technology that can detect failures in rail wheels and axles.

Increasing Fleet of Solar Powered Trains: Solar-powered rails has various benefits compared to diesel-powered locomotives. Normally, diesel propelled trains have double engine sections. While, in solar-powered trains, one section is replaced by solar gears. Solar panels are installed on the rooftops of the bogies and electric motors & batteries are fixed in the second diesel compartment.

Solar panels installed on train rooftops can produces voltages between 600 V to 800 V, which completes the requirement of railway engines of 750 V to 800 V to propel the rails. Expanding fleet of such trains will surge the growth of the rail wheel and axle market.

Rail Wheel and Axle Market: Structure Analysis

The global rail wheel and axle market is considered to be a competitive market space, due to the presence of numerous local as well as international players. Since most of the manufacturers have identical products, many are focusing on improving their aftersales service offerings to customers and investing extensively in R&D to develop better quality products and technologically-advanced rolling stocks for locomotives. Moreover, player are focusing on acquisitions and joint ventures to enhance their position in the global rail wheel and axle market.

Prominent suppliers involved in the global rail wheel and axle market are Amsted Rail Company, Inc., Nippon Steel & Sumitomo Metal Corporation, CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., Bombardier Inc., and others.

COVID-19 Impact on Rail Wheel and Axle Market

The COVID-19 pandemic has affected all countries and sectors, alike. Trade and import-export restrictions, lockdowns, and shutting of manufacturing plants have adversely affected the global rail wheel and axle market. Travel restrictions across the world have affected the railway sector, leading to reduced operations across the world. These factors will impede the growth of the global rail wheel and axle market in the short term.

Analysts’ Viewpoint

A detailed view of the global rail wheel and axle market has led our analysts to conclude that, the market is developing at a decent rate on the back of increasing locomotive and bogie production and sales, worldwide. The rail wheel and axle market is anticipated to be characterized by advanced product development based on wheel and axle types over the forecast period. Asia Pacific is projected to hold around one-third of the global rail wheel and axle market share, and be an opportunistic market in terms of sales over the coming years.

Rail Wheel and Axle Market – Report Scope

Persistence Market Research (PMR) recently published a study report on the global rail wheel and axle market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the rail wheel and axle market structure. This market research report presents exclusive facts and figures about how the rail wheel and axle market will grow over the forecast period of 2020 to 2030.

Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the rail wheel and axle market over the forecast period.

The study is relevant for stakeholders in the rail wheel and axle market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the rail wheel and axle market can leverage the information and statistics presented in PMR’s research report.

The report includes facts and figures related to the micro- as well as macro-economic factors that are impacting the growth of the rail wheel and axle market. The study also offers actionable insights based on the future trends in the rail wheel and axle market. Furthermore, regional players and new entrants in the rail wheel and axle market can also use the information presented in this report to make business decisions and gain momentum in the market.

Key Segments of Rail Wheel and Axle Market

Wheel Type

Axle Type

End Use

Sales Channel

Product Type

Region

  • Monoblock Wheels
  • Resilent Wheels
  • Rubber Tyred Wheels
  • Steel Tyred Wheels
  • Other Special Wheels
  • Hollow Axles
  • Solid Axles
  • High Speed Railway
  • Fast Speed Railway
  • Subway
  • Other End Uses
  • OEMs
  • Aftermarket
  • Less Than 600 mm
  • 600-1000 mm
  • 1000-1100 mm
  • Above 1100 mm
  • North America
  • South America
  • Europe
  • Asia Pacific
  • MEA

PMR’s study on the rail wheel and axle market is divided into six significant segments - wheel type, axle type, end use, sales channel, product type, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Key Questions Answered in PMR’s Rail Wheel and Axle Market Report

  • Which region is anticipated to hold a prominent market share over the forecast period?
  • What will be the key driving factors propelling the demand for rail wheels and axles during the forecast period?
  • How will current trends impact the rail wheel and axle market?
  • Who are the significant market participants in the rail wheel and axle market?
  • What are the crucial strategies of prominent players in the rail wheel and axle market to upscale their positions in this landscape?

Rail Wheel and Axle Market: Research Methodology

In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the rail wheel and axle market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure precision and reliability of the conclusions.

Secondary resources are referred to by analysts during the evaluation of the rail wheel and axle market study, which comprises facts and figures from OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.

Comprehensive information acquired from primary and secondary resources is validated from companies operating in the market, to make PMR’s projections on the growth prospects of the rail wheel and axle market more accurate and reliable.

Companies covered in Rail Wheel And Axle Market Report

  • Amsted Rail Company, Inc. 
  • ArcelorMittal S.A.
  • Bonatrans Group a.s.
  • CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
  • Comsteel
  • CRRC Sifang Co., Ltd.
  • Kolowag
  • Lucchini RS S.p.a.
  • Bharat Forge Ltd. (Kalyani Group)
  • Nippon Steel & Sumitomo Metal Corporation
  • Rail Wheel Factory – Indian Railways
  • Maanshan Iron and Steel Company
  • Semco India (P) Ltd.
  • United Metallurgical Company, OMK CJSC
  • Simmons Machine Tool Corporation (NSH Group)
  • VELTRUP Technik Philippines, Inc.
  • Bombardier Inc. 
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