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Exclusive Report on Rail Components Market 2019 | Industry Drivers, Business Plans, Types, Applications, Challenges, Opportunities and Latest Trends Forecast to 2024


The “Rail Components Market” research report 2019-2024 delivers comprehensive information and valuable insights about the Rail Components industry. The information available in the Rail Components market report is not only based on the facts but also on the case studies, which analysts have included to convey appropriate information to the clients in a well-versed manner. Rail Components market report includes valuable information to assist new entrants, as well as established players, to understand the prevailing trends in the market.

Some Companies Are Covered in the Rail Components Market:

  • 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

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    Market Overview:

  • 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.
  • The manufacturing costs for the braking and suspension system of the bogie captured a significant share of the bogie assembly production. Companies, like Knorr-Bremse, Akebono Brake Industry, Federal Mogul, etc., have been offering braking components to rolling stock across major countries.
  • Currently, China dominates the market for rolling stock and rail components, in terms of market value and volume, owing to the higher concentration of manufacturing facilities and operating number of rolling stocks in the country.
  • With the increased spending on procuring rolling stocks across the major markets, the demand for rail component manufacturing is anticipated to grow over the forecast period.

    Scope of the Report:

  • The report on rail components market covers bogie, engine, and other components (couplers, body frames, etc.)

    Reasons for Buying Rail Components Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    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.

    Asia-Pacific is the Fastest Growing Region

    Asia-Pacific dominates the rail components market. The region is expected to witness the fastest growth rate during the forecast period.

    In the Asia-Pacific region, India is the second-largest market for rail components and the country accounted for 8.22 % of the market in 2018. The country is expected to witness the fastest growth during the forecast period. The Indian rolling stock market is witnessing a steady growth, driven by the new metro projects coming up across the country, as well as the extension of existing lines. As of March 2018, approximately 2,115 railcars were operational across nine metro rail projects. In early 2019, the Ministry of Railways increased the allocation toward the procurement, upgradation, and maintenance of rolling stock by 64%.

    Given the rapidly increasing ridership, the major cities across the country are experimenting with state-of-the-art transport technologies to make urban rail systems more reliable, efficient, and passenger friendly. The Indian metro systems are steadily moving from semi-automatic to unmanned/driverless train operations. Most of the upcoming systems are exploring the deployment of advanced technological solutions for the safety and comfort of commuters.

    The emergence of the metro sector and the government’s focus on improving public transportation in the county have not only resulted in the development of the metro coach industry, but also in the growth of the equipment and spare parts industry. Metro coaches and other parts, including battery boxes, window glasses, bogie frames, brake blocks, propulsion systems, and vacuum circuit breakers, are being manufactured in India. The government’s Make in India initiative laid special emphasis on promoting manufacturing activities within the country. This, in turn, is expected to drive the market for rail components in India.

    Rail Components Market Report Provides Comprehensive Analysis of:

    • Functional market industry outline
    • Up and downstream industry examination
    • Channels and propositions believability
    • Market challenge by key players
    • Enhancement suggestions examination

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    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

    Detailed TOC of Rail Components Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.4 Market Restraints
    4.5 Industry Attractiveness – Porter’s Five Forces Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5.1 By Component
    5.1.1 Bogie Brake System Suspension System Wheel and Axle Other Bogies (Gear Box, Motor, and Supporting Frames)
    5.1.2 Engine
    5.1.3 Other Components (Couplers, Body Frames, etc.)
    5.2 Geography
    5.2.1 North America US Canada Mexico
    5.2.2 Europe Germany UK France Rest of Europe (Russia, Italy, Ukraine, Romania, Poland, Spain, and Sweden)
    5.2.3 Asia-Pacific China Japan India Rest of Asia-Pacific (Kazakhstan, Indonesia, Pakistan, Thailand, and North and South Korea)
    5.2.4 Rest of the World Brazil South Africa Other Countries (Argentina, Iran, and Turkey)

    6.1 Vendor Market Share
    6.2 Mergers and Acquisitions
    6.3 Company Profiles
    6.3.1 CRRC Corp. Ltd
    6.3.2 Siemens AG
    6.3.3 Bombardier Inc.
    6.3.4 Alstom SA
    6.3.5 Wabtec Corp. (previously GE Transportation)
    6.3.6 Hyundai Rotem
    6.3.7 Stadler Rail AG
    6.3.8 The Greenbrier Companies
    6.3.9 Trinity Industries Inc.
    6.3.10 Construcciones Y Auxiliar De Ferrocarriles SA
    6.3.11 Escorts Group
    6.3.12 Hitachi Ltd
    6.3.13 Progress Rail (Caterpillar Company)
    6.3.14 Nippon Sharyo Ltd
    6.3.15 Kawasaki Heavy Industries Ltd


    8 Disclaimer


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