Market Overview:
The global railway track wheels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the railway track wheels market can be attributed to the increasing demand for high-speed railways and freight wagons across the globe. Additionally, rising investments in rail infrastructure are also propelling the growth of this market. The global railway track wheels market is segmented on the basis of type, application, and region. On the basis of type, it is divided into high speed, freight wagons, passenger wagons, locomotives, and others (including maintenance vehicles). The high-speed segment is projected to grow at a CAGR of 6% during the forecast period from 2018 to 2030 due to increasing demand for faster transportation across developed and developing countries alike. On account of growing urbanization and industrialization in emerging economies such as China and India coupled with rising disposable income levels among consumers has led to an increase in demand for passenger transport services which will drive growth prospects for this segment over coming years. On basis if application ,the Railway Track Wheels Market can be classified as OE Market & AM Market .OE MARKET: This sector includes Original Equipment Manufacturers who procure Railway Track Wheels products from various suppliers globally & use them within their own equipment or sell these products under their brand name .
Product Definition:
Railway track wheels are the wheels that run on railway tracks. They are typically made of steel and have a flange on one side to keep the wheel in gauge with the track.
High speed:
High speed is defined as the maximum speed of a train over 30 km/h. The usage of high-speed wheel has been increasing in recent years owing to its benefits such as reduced weight on rail, less noise & vibration and increased safety.
The growth factor for High Speed Wheel (HSW) market is expected to grow at a CAGR greater than 5% from 2018 to 2025.
Freight Wagons:
Freight wagons are used to transport goods and materials in railway networks. They are designed for carrying various types of freight including liquids, break bulk, general cargo and specialized freight. The wheels in a railway track help to keep the train on track by providing grip while moving along the rail tracks. Freight wagons have different wheel designs that can be customized according to customer requirements depending upon their application or use.
Application Insights:
The original equipment market (OE) railway track wheels is the largest segment of the global railway track wheels market and accounted for over 60.0% share in 2017. The high demand from major railways in developed countries such as Germany, France, U.K., Spain, Italy and Belgium is expected to drive growth over the forecast period.
The aftermarket market for OE railway track wheels is expected to grow at a significant rate owing to increasing replacement rates of old inventory with new technologically advanced products across all major regions including North America, Europe, Asia Pacific and Latin America. In addition to this factor; growing awareness regarding improved performance & safety offered by aftermarket replacement product coupled with favorable government policies promoting investments are likely to propel growth over the forecast period in near future.
AMTRAK has been one of the leading adopters of modern technology wheel designs on its passenger trains that ply between Boston.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue with a share of over 60.0% in 2017. This is attributed to increasing investments and favorable government policies across countries such as China, India, Japan, and South Korea for developing the railway infrastructure. The Asia Pacific region is expected to witness significant growth rate over the forecast period owing to rising demand for high-quality steel from manufacturers across China and India.
The European market was valued at USD X million in 2017 and is anticipated to grow at a CAGR of XX% from 2018 to 2030 due an increase in passenger traffic on account of various initiatives taken by governments including High-Speed 2 (HS2) between London & Birmingham; Narrow Gauge Railways (NGR) between Paris & Brest; AVE between Barcelona & Valencia; etc.
Growth Factors:
- Increasing demand for railway transportation services across the globe
- Growing investments in railway infrastructure projects
- Proliferation of high-speed railways networks worldwide
- Rising adoption of advanced technologies in the railway sector
- Growing demand for lightweight and energy-efficient wheels
Scope Of The Report
Report Attributes
Report Details
Report Title
Railway Track Wheels Market Research Report
By Type
High speed, Freight Wagons, Passenger Wagons, Locos, Others
By Application
OE Market, AM Market
By Companies
NSSMC, Interpipe, OMK Steel, EVRAZ NTMK, Bochumer Verein Verkehrstechnik (BVV), Lucchini RS, Rail Wheel Factory, GHH-Bonatrans, Amsted Rail, CAF, Comsteel, Magang (Group) Holding, Taiyuan Heavy Industry, Datong ABC Castings Company Limited (DACC), Xinyang Amsted Tonghe Wheels, ZHIQI RAILWAY EQUIPMENT
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Railway Track Wheels Market Report Segments:
The global Railway Track Wheels market is segmented on the basis of:
Types
High speed, Freight Wagons, Passenger Wagons, Locos, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OE Market, AM Market
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- NSSMC
- Interpipe
- OMK Steel
- EVRAZ NTMK
- Bochumer Verein Verkehrstechnik (BVV)
- Lucchini RS
- Rail Wheel Factory
- GHH-Bonatrans
- Amsted Rail
- CAF
- Comsteel
- Magang (Group) Holding
- Taiyuan Heavy Industry
- Datong ABC Castings Company Limited (DACC)
- Xinyang Amsted Tonghe Wheels
- ZHIQI RAILWAY EQUIPMENT
Highlights of The Railway Track Wheels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- High speed
- Freight Wagons
- Passenger Wagons
- Locos
- Others
- By Application:
- OE Market
- AM Market
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Railway Track Wheels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Railway track wheels are the large, circular devices that help move trains along railroad tracks. They have a series of grooves around their circumference that allow them to slide easily over the rails.
Some of the major companies in the railway track wheels market are NSSMC, Interpipe, OMK Steel, EVRAZ NTMK, Bochumer Verein Verkehrstechnik (BVV), Lucchini RS, Rail Wheel Factory, GHH-Bonatrans, Amsted Rail, CAF, Comsteel, Magang (Group) Holding, Taiyuan Heavy Industry, Datong ABC Castings Company Limited (DACC), Xinyang Amsted Tonghe Wheels, ZHIQI RAILWAY EQUIPMENT.
The railway track wheels market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Railway Track Wheels Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Railway Track Wheels Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Railway Track Wheels Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Railway Track Wheels Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Railway Track Wheels Market Size & Forecast, 2020-2028 4.5.1 Railway Track Wheels Market Size and Y-o-Y Growth 4.5.2 Railway Track Wheels Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 High speed
5.2.2 Freight Wagons
5.2.3 Passenger Wagons
5.2.4 Locos
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 OE Market
6.2.2 AM Market
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Railway Track Wheels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Railway Track Wheels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 High speed
9.6.2 Freight Wagons
9.6.3 Passenger Wagons
9.6.4 Locos
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 OE Market
9.10.2 AM Market
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 High speed
10.6.2 Freight Wagons
10.6.3 Passenger Wagons
10.6.4 Locos
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 OE Market
10.10.2 AM Market
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 High speed
11.6.2 Freight Wagons
11.6.3 Passenger Wagons
11.6.4 Locos
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 OE Market
11.10.2 AM Market
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 High speed
12.6.2 Freight Wagons
12.6.3 Passenger Wagons
12.6.4 Locos
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 OE Market
12.10.2 AM Market
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 High speed
13.6.2 Freight Wagons
13.6.3 Passenger Wagons
13.6.4 Locos
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 OE Market
13.10.2 AM Market
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Railway Track Wheels Market: Competitive Dashboard
14.2 Global Railway Track Wheels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NSSMC
14.3.2 Interpipe
14.3.3 OMK Steel
14.3.4 EVRAZ NTMK
14.3.5 Bochumer Verein Verkehrstechnik (BVV)
14.3.6 Lucchini RS
14.3.7 Rail Wheel Factory
14.3.8 GHH-Bonatrans
14.3.9 Amsted Rail
14.3.10 CAF
14.3.11 Comsteel
14.3.12 Magang (Group) Holding
14.3.13 Taiyuan Heavy Industry
14.3.14 Datong ABC Castings Company Limited (DACC)
14.3.15 Xinyang Amsted Tonghe Wheels
14.3.16 ZHIQI RAILWAY EQUIPMENT