Railway Axle Market: Global Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2025

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The global rail axle market size is anticipated to showcase progressive growth owing to the increasing demand for safe and efficient transportation, observes Fortune Business Insights™ in its report, titled, “Rail Axle Market Size, Share & Industry Analysis, By Rail Axle Type (Hollow Axles, Roller Axles, and Others), By Application Type (Locomotives, High Speed, and Wagons), and Regional Forecasts, 2020-2027.” The market size was USD 211.7 million in 2019 and is anticipated to reach USD 270.5 million by 2027, exhibiting a CAGR of 5.3% during the forecast period.

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A List of Key Manufacturers Operating in the Market:

  • Amsted Rail Company, Inc.
  • CAF USA, Inc.
  • Bombardier Inc.
  • CRRC Corporation Limited
  • Kolowag AD
  • Bonatrans Group A.S.
  • Nippon Steel & Sumitomo Metal Corporation
  • Bharat Forge Ltd.
  • VELTRUP Technik Philippines
  • ArcelorMittal A.S.
  • Lucchini RS S.p.A.
  • United Metallurgical Company
  • Semco India (P) Ltd.
  • Others

Rising Instances of Road Traffic Injuries to Drive Growth

According to the World Health Organization (WHO), road traffic injuries account for nearly 1.35 million annual deaths globally. Owing to the increasing instances of road accidents, passengers worldwide, especially in urban areas, are seeking a safer mode of transfer for traveling and commuting purposes. This is estimated to propel the global rail axle market growth. However, the high cost associated with the maintenance is anticipated to hinder growth of rail axles.

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Offering Durable Rails to Aid Prominent Enterprises Expand their Product Lines

Key players operating in the global rail axle market are embarking on offering high-strength, durable, and technologically advanced products as per the latest government standards. This will help them expand their product lines. For instance, in November 2020Bombardier Sifang Transportation Co., Ltd., signed an agreement with China National Railway Group Co., Ltd. The former will provide 112 CR300AF-, a new Chinese standard high-speed train based on the country’s growing high-speed rail network to China National Railway Group as per the new agreement.

Industry Developments-

  • In October 2020, Jindal Steel and Power announced the launch of India’s first Heat-treated (HT) rails that offer high-speed and high axle load applications. These rails (60E1 1175) are superior to the 1080 HH model and will be incorporated by the Indian Railways for heavy-duty and high-speed applications.

Major Table of Content for Railway Axle Market:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Merger, Acquisitions, and Partnerships
    • Distributor Analysis – For Major Players
    • Growth and Penetration Analysis
    • Porter’s Five Forces Analysis
    • PEST Analysis
  • Vendor Landscape
  • Global Rail Axle Market Analysis, Insights and Forecast, 2016-2025
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Axle Type
      • Hollow Axles
      • Roller Axles
      • Others
    • Market Analysis, Insights and Forecast – By Application Type
      • Locomotives
      • High Speed
      • Wagons
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the World

TOC Continued…

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