Market Overview:
The global railway vehicle wheels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for high-speed trains and rising investments in railway infrastructure across the globe. Additionally, the growing adoption of advanced technologies in railway vehicles is also propelling the growth of this market. The rolling steel wheel segment is expected to dominate the global railway vehicle wheels market during the forecast period, owing to its low cost and high durability as compared to other types of wheels available in this market. However, cast steel wheel segment is projected to grow at a higher CAGR than rolling steel wheel over the forecast period due its superior properties such as strength and stiffness as compared with other types of wheels available in this market.
Product Definition:
A railway vehicle wheel is a device that provides traction to a railway vehicle to move it along the track. Railway wheels are usually made out of steel, although other materials such as aluminium are also used. The tread on the wheel provides the grip needed to move the train along the track. Wheels are usually arranged in sets of four, with two on each side of the locomotive or carriage.
Rolling Steel Wheel:
The rolling steel wheel is a type of railway vehicle wheel that was initially developed for use in heavy freight wagons. The first rolling steel wheels were manufactured by the American Locomotive Company (ALC) and entered service on October 1, 1853 on steam locomotives. Rolling steel wheels are now used as primary or secondary wheels in various types of railway vehicles including tankers, hoppers, flatcars, and passenger cars among others depending upon the load capacity of the vehicle.
Cast Steel Wheel:
The cast steel wheel is a type of wheel that is made up of multiple pieces of metal. The metal pieces are heated and then pressed into a mold which shapes the final product. These wheels are stronger as compared to the ones made from casting resin or iron, hence they can last longer without getting damaged easily. They also offer better resistance against cracks and rusting due to their solid structure.
Application Insights:
The railway passenger car segment accounted for the largest revenue share of over 50.0% in 2017 and is projected to witness significant growth during the forecast period. The growing demand for railways passenger cars as a result of increasing disposable income levels coupled with rising employment rates across various regions is expected to be a major factor driving the industry growth.
The railway wagon segment was valued at USD 1,227.5 million in 2017 and is also anticipated to grow at a considerable rate over the next eight years owing to its extensive usage on farms, construction sites, airports and other logistics hubs across various countries worldwide including China, India Japan Brazil etcetera.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing investments in expanding railway infrastructure, coupled with rising demand for passenger and freight transportation. China is a major contributor towards regional growth owing to extensive investments made by the Chinese government for improving its railway network. For instance, as per 2015-2016 data published by World Bank Group, China invested USD X billion on rail infrastructure which was highest among all developing countries worldwide.
Europe accounted for a significant share of revenue in 2017 owing to growing demand from several countries such as Germany, France and Russia amongst others that are characterized by heavy investment on rolling stock production coupled with high consumer preference for quality steel wheels over cheap alternatives such as plastic or aluminum ones offered by other manufacturers.
Growth Factors:
- Increasing demand for railway transportation: The increasing population and the consequent increase in the demand for goods and services is propelling the growth of the railway vehicle wheels market.
- Technological advancements: The introduction of advanced technologies in manufacturing railway vehicle wheels is aiding their uptake, thereby driving market growth.
- Government initiatives to promote railways: Governments across countries are promoting railways as an efficient mode of transportation, which is resulting in an increase in investments towards development of this sector, thereby fuelling market growth.
- Rising disposable income levels: With rising disposable incomes, consumers are increasingly preferring rail transport over other modes owing to its cost-effectiveness and convenience, thus propelling market growth. 5) Growing urbanization: Rapid urbanization is leading to a rise in the number of commuters using railways for daily travel needs, which is subsequently fueling demand for railway vehicle wheels
Scope Of The Report
Report Attributes
Report Details
Report Title
Railway Vehicle Wheels Market Research Report
By Type
Rolling Steel Wheel, Cast Steel Wheel
By Application
Railway Passenger Car, Railway Wagon, Locomotive, High Speed Train, Other
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
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Railway Vehicle Wheels Market Report Segments:
The global Railway Vehicle Wheels market is segmented on the basis of:
Types
Rolling Steel Wheel, Cast Steel Wheel
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
Railway Passenger Car, Railway Wagon, Locomotive, High Speed Train, Other
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 Vehicle 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:
- Rolling Steel Wheel
- Cast Steel Wheel
- By Application:
- Railway Passenger Car
- Railway Wagon
- Locomotive
- High Speed Train
- Other
- 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 Vehicle 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.
How you may use our products:
- Correctly Positioning New Products
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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 vehicle wheels are the large, circular metal disks that rotate on an axle to move a train along the track.
Some of the major companies in the railway vehicle 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 vehicle wheels market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Railway Vehicle 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 Vehicle Wheels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Railway Vehicle 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 Vehicle 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 Vehicle Wheels Market Size & Forecast, 2020-2028
4.5.1 Railway Vehicle Wheels Market Size and Y-o-Y Growth
4.5.2 Railway Vehicle 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 Rolling Steel Wheel
5.2.2 Cast Steel Wheel
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 Railway Passenger Car
6.2.2 Railway Wagon
6.2.3 Locomotive
6.2.4 High Speed Train
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Railway Vehicle 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 Vehicle 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 Rolling Steel Wheel
9.6.2 Cast Steel Wheel
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 Railway Passenger Car
9.10.2 Railway Wagon
9.10.3 Locomotive
9.10.4 High Speed Train
9.10.5 Other
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 Rolling Steel Wheel
10.6.2 Cast Steel Wheel
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 Railway Passenger Car
10.10.2 Railway Wagon
10.10.3 Locomotive
10.10.4 High Speed Train
10.10.5 Other
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 Rolling Steel Wheel
11.6.2 Cast Steel Wheel
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 Railway Passenger Car
11.10.2 Railway Wagon
11.10.3 Locomotive
11.10.4 High Speed Train
11.10.5 Other
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 Rolling Steel Wheel
12.6.2 Cast Steel Wheel
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 Railway Passenger Car
12.10.2 Railway Wagon
12.10.3 Locomotive
12.10.4 High Speed Train
12.10.5 Other
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 Rolling Steel Wheel
13.6.2 Cast Steel Wheel
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 Railway Passenger Car
13.10.2 Railway Wagon
13.10.3 Locomotive
13.10.4 High Speed Train
13.10.5 Other
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 Vehicle Wheels Market: Competitive Dashboard
14.2 Global Railway Vehicle 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
