Global Rail Wheel Sensors Market: Introduction
Sensors are one of inseparable component of the monitoring systems in this modern day industrial world. Sensors is used for the conversion of physical parameter such as speed, pressure, temperature etc. into the signal which is electrically measured. In the recent years sensors are playing an important role in the railway sector along with railway infrastructure. Rail wheel sensors are used in railway systems for the detection of defects in wheels to avoid the severe accidents and disasters. Rail wheel sensors are also used for sensing speed, axel spacing, railway track conditions and lubrication. For the high speed trains, wheel defects might damage both the vehicle component and track structure as they run on high speed, so the identification of wheel defect in time is essential. Rail wheel sensors are manufactured according to the specified standards as they are widely used across the global railway system. Rail wheel sensors helps in the optimization of maintenance cycle of the railway tracks, bogies and wheels and its lower maintenance cost additionally minimizes the life cycle expenses. Rail wheel sensors plays an important role in the remote monitoring of the railway tracks as it can easily transmit the signals. Rail wheel sensors are designed to sustain the changing temperature as well as drastic environmental conditions.
Global Rail Wheel Sensors Market: Dynamics
Advancement of railway infrastructure and increasing number of travel passengers can be attributed as primary driving factor for the growth of rail wheel sensors market. Railway sector is giving significant emphasis on passenger safety and betterment of railway infrastructure in order to minimize the number of accidents. Thus, railway sector is highly emphasizing on remote monitoring activities which in turn will drive the demand for rail wheel sensors. Increasing number of railway projects, metro projects and other projects related to railway infrastructure are estimated to boost the growth of global rail wheel sensors market. Apart from it rail wheel sensors can also installed on the existing railway tracks in developing countries in order to prevent accidents. Rising adoption of automation technologies in railway sector has upsurged the demand for different types of sensors for the better performance of the railways which have positive impact on the rail wheel sensors market. GDP growth, rising population, increasing consumer spending etc. are few of the important factors which indirectly affect the rail wheel sensors market growth. Most of the governments of developed and developing countries have increased their spending on railway infrastructure, which is a positive outlook for the growth of rail wheel sensors market. However the high product cost, high temperature sensitivity and lower replacement might hamper the growth of global rail wheel sensors market.
Global Rail Wheel Sensors Market: Segmentation
The global rail wheel sensors market can be segmented on the basis of its type, application and end-use:
The global rail wheel sensors market is segmented on the basis of its type:
The global rail wheel sensors is segmented on the basis of its application:
The global rail wheel sensors market is segmented on the basis of its end use:
Global Rail Wheel Sensors Market: Regional Outlook
Europe is estimated to be a prominent market for rail wheel sensors owing to the large rolling stock size especially in the Western Europe region. In Latin America public transportation such as railways, metro etc. are mostly preferred, owing to which Latin America is anticipated as a substantial market for rail wheel sensors. Regions such as North America are estimated to be a potential market for rail wheel sensors owing to the widespread railway network and advanced railway infrastructure. There is a significant rise in the number of railway projects in the Asia Pacific region, especially in countries such as China & India. In Japan there is high emphasis on the public transportation such as metros, bullet train etc. Owing to the advancement of railway infrastructure, Asia Pacific can be attributed as promising market for rail wheel sensors with lucrative growth opportunities. Due to the increased adoption of automation technologies for advancement of railway infrastructure Middle East & Africa is considered as strong market for rail wheel sensors.
Global Rail Wheel Sensors Market: Key Participants
Examples of some of the market participants operating in the global rail wheel sensors market are:
Frauscher Sensortechnik GmbH, Western-Cullen-Hayes, Inc., Altpro d.o.o., Clearsy Systems Engineering, Argenia Railway Technologies Inc., Shenzhen Javs Technology, Pintsch Tiefenbach, Anhui Landun Photoelectron and Beijing Railtechcn Technology among others.
The Rail wheel sensors market research report presents a comprehensive assessment of the Rail wheel sensors market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Rail wheel sensors market research report provides analysis and information according to Rail wheel sensors market segments such as geographies, application and industry.
The report covers exhaustive analysis on,
Regional analysis includes,
The Rail wheel sensors Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Rail wheel sensors market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Rail wheel sensors market segments and geographies.
Rail wheel sensors are highly demanded in the modern-day industrial sector owing to their capability to detect different physical parameters such as temperature, pressure, and speed. These sensors are employed in the wheels to mitigate disasters and accidents. The fast-paced growth of the railway infrastructure has brought forward the vulnerabilities of these accidents in effecting the associated components such as railway tracks and axle spacing. The market is progressing towards rail wheel sensors specific to the requirement, creating scopes of growth in the market.
The market is trending towards reducing the huge maintenance expenses of the bogies wheel and railway tracks. Rail wheel sensors are effectively solving this purpose by remote monitoring the components such as railway tracks and transmitting signals regarding the condition of the tracks. The capacity to sustain environmental conditions such as fluctuating temperature makes these sensors highly demanded products in the market. Factors such as growing emphasis on safety and flourishing railway infrastructure have emerged as major growth drivers in the market.
Single wheel sensors along with the double wheel sensors are gaining rapid traction in the market, contributing significantly to the market revenue. The major applications of railway wheel sensors include vision monitoring, hot-box and wheel flat detection, speed measurement, track-side lubrication measurement, axle spacing, and wheel arrangement detection. These applications of rail wheel sensors have substantially reduced the workforce strength and expenditure on them. Urban rail transit and rail transport lines are two of the prominent end-use of the rail wheel sensors which are generating significant revenue in the market. GDP growth in these regions is escalating the efforts of the governing authorities towards adopting safety components such as rail wheel sensors in their transportation infrastructure.
Leading regions in the global market include Latin America, North America, Eastern Europe, Western Europe, Japan, Asia Pacific, Middle East, and Africa. Europe along with Latin America is expected to lead the global market in terms of growth owing to the expanding railways' infrastructure. High preference for transport modes such as railways and metros impart significance to the region such as Asia pacific and Japan. The high adoption rate of automation technologies across these regions, especially in the Middle East and Africa is generating new revenue prospects for the market players. The increased spending on railways by the governments in the scaling economies is generating a plethora of growth opportunities for the market players. The growth in the adoption rate of automation technologies in the railway sector is positively influencing the market growth.
Key market players are leveraging advanced technologies to enhance the number of parameters assessed by their products to populate their product profile. Established players are exploring opportunities in new projects such as metros to strengthen their market presence. They are exploring profitable prospects in the expanding railway infrastructure of developing economies. Established players profiled in the global rail wheel sensors market include Western-Cullen-Hayes, Anhui Landun Photoelectron, Clearsy Systems Engineering, Beijing Railtechcn Technology, and Argenia Railway Technologies Inc.