Global Rail Track Components Market 2018-2022
About Rail Track Components
Rail track components are an integral part of the rail infrastructure. Rail tracks enable the necessary movement of the rolling stock, and rail track components are indispensable in the entire ecosystem of the global rail network.
Technavio’s analysts forecast the global rail track components market to grow at a CAGR of 9.87% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global rail track components market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rail Track Components Market 2018-2022
Technavio recognizes the following companies as the key players in the global rail track components market: AGICO GROUP, Harmer steel, HeidelbergCement, ROYAL INFRASTRU, Kimes Steel & Rail, and Vossloh.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is regenerative braking energy. electric railways worldwide are a fast and quiet means of transport when compared with diesel powered trains. When a brake is applied in electric trains, the energy of a moving train is lost. To capture the energy that is lost during braking is an easy task, but to redistribute it efficiently through the power grid is an arduous task. Research is being conducted to efficiently capture and redistribute the energy lost during braking by use of smart grids.”
According to the report, one driver in the market is rising demand for rail logistics. Rail transportation is becoming an ideal choice for various manufacturers across various business segments. Vendors and manufacturers prefer rail transportation over road transportation. This trend can be attributed to infrastructure deficiencies, unstable fuel prices, and driver shortage.
Further, the report states that one challenge in the market is slow progress of railway projects. The construction of railway lines requires approvals of various government departments. In addition, it involves investments and skilled labor. Getting clearances is a tedious and long process, which results in the delay of railway projects.
AGICO GROUP, Harmer steel, HeidelbergCement, ROYAL INFRASTRU, Kimes Steel & Rail, and Vossloh.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook