Market Overview:
The global railway wheelsets market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the railway wheelsets market can be attributed to the increasing demand for urban rail transit and intercity rail transit. Additionally, the growing demand for harvesters is also contributing to the growth of this market. However, factors such as volatility in prices of raw materials and stringent government regulations are restraining the growth of this market. The global railway wheelsets market can be segmented on the basis of type into power wheelsets and non-powered wheelsets. The power Wheelset segment is expected to grow at a higher CAGR than that of non-powered Wheelset during the forecast period owing to increase in demand for electric vehicles globally. On basis if application,the global Railway Wheelset Market can be divided into three segments: intercity rail transit, urban rail transit and harvesters Others).
Product Definition:
A railway wheelset is a set of two or more railroad wheels that are connected to each other by an axle. Railway wheelsets are important because they provide a way for trains to move around the tracks.
Power Wheelsets:
Power wheelsets are the combination of two or more wheels and an electric motor. They are usually used as a means for mobility by people who cannot use conventional wheelchairs or have no access to one. Power wheel sets can be easily propelled by a single person using the handbrake, accelerator or brake pedal, making them ideal for short distance travel.
The global power wheelsets market size was valued at USD 469 million in 2015.
Non-powered Wheelsets:
Non-powered wheelsets are used in railway wheelsets to provide stability and weight carrying capacity. They are made of steel or other metals, and have no electric motors or batteries attached to them. The main function of these sets is to enable the transportation of heavy loads over uneven surfaces without causing any damage to the tracks.
Application Insights:
The intercity rail transit application segment led the market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for high-performance, lightweight and energy-efficient wheelsets for use on high speed trains operating at speeds up to 300 km/h.
Non-powered railway wheelsets include those that are used on light railways, narrow gauge railways (NG), industrial lines, funiculars and gondolas as well as trams operating below 50 km/h. These types of sets are typically lighter than their powered counterparts due to the lack of any kind of motor or engine driving them along the track; however, they still require a locomotive or multiple units with matching wheel arrangements for traction purposes. Growing popularity among consumers across developing countries including China India Japan Brazil Thailand Vietnam Indonesia etc.
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 infrastructure development, coupled with rising demand for intercity and metro rail transportation systems. Moreover, growing population along with rapid urbanization has led to an increase in freight movement across various industries, which is further anticipated to drive the regional market over the forecast period.
Europe was valued at USD X billion in 2017 owing to high product demand from countries such as Germany, France and Italy among others where high-speed rail networks are operated on a large scale. In addition, increasing traction power requirement for metro rolling stock is also expected drive regional product demand over the next eight years.
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 wheelsets market.
- Technological advancements: The introduction of new technologies, such as wheel-flange lubrication systems, is aiding in the growth of this market.
- Government initiatives: Governments across different countries are investing in railways to improve their infrastructure, which is driving the growth of this market.
- Rising disposable income: With rising incomes, consumers are increasingly preferring to travel by train instead of other modes of transportation, thereby propelling the growth of this market. 5) Growing urbanization: Rapid urbanization is leading to an increase in investments in railways by city governments, thereby fueling the growth prospects for this market
Scope Of The Report
Report Attributes
Report Details
Report Title
Railway Wheelsets Market Research Report
By Type
Power Wheelsets, Non-powered Wheelsets
By Application
Intercity Rail Transit, Urban Rail Transit, Harvesters, Others
By Companies
NIPPON STEEL, Railway Wheelset＆Brake Ltd, Jiangsu Railteco Equipment, Lucchini RS S.p.A., Liberty Ostrava as, CAF, GHH-BONATRANS, ArcelorMittal Engineering Products Ostrava Ltd, Zhiqi Railway Equipment, NIPPON STEEL
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
137
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Railway Wheelsets Market Report Segments:
The global Railway Wheelsets market is segmented on the basis of:
Types
Power Wheelsets, Non-powered Wheelsets
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
Intercity Rail Transit, Urban Rail Transit, Harvesters, Others
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:
- NIPPON STEEL
- Railway Wheelset＆Brake Ltd
- Jiangsu Railteco Equipment
- Lucchini RS S.p.A.
- Liberty Ostrava as
- CAF
- GHH-BONATRANS
- ArcelorMittal Engineering Products Ostrava Ltd
- Zhiqi Railway Equipment
- NIPPON STEEL
Highlights of The Railway Wheelsets 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:
- Power Wheelsets
- Non-powered Wheelsets
- By Application:
- Intercity Rail Transit
- Urban Rail Transit
- Harvesters
- Others
- 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 Wheelsets 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 wheelsets are a type of railway wheel. They are made from cast iron and have a number of small, round, metal spokes that support the weight of the train.
Some of the key players operating in the railway wheelsets market are NIPPON STEEL, Railway Wheelset＆Brake Ltd, Jiangsu Railteco Equipment, Lucchini RS S.p.A., Liberty Ostrava as, CAF, GHH-BONATRANS, ArcelorMittal Engineering Products Ostrava Ltd, Zhiqi Railway Equipment, NIPPON STEEL.
The railway wheelsets 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 Wheelsets 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 Wheelsets Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Railway Wheelsets 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 Wheelsets 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 Wheelsets Market Size & Forecast, 2018-2028
4.5.1 Railway Wheelsets Market Size and Y-o-Y Growth
4.5.2 Railway Wheelsets Market Absolute $ Opportunity
Chapter 5 Global Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Type
5.2.1 Power Wheelsets
5.2.2 Non-powered Wheelsets
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Applications
6.2.1 Intercity Rail Transit
6.2.2 Urban Rail Transit
6.2.3 Harvesters
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Railway Wheelsets 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 Wheelsets 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 Railway Wheelsets Analysis and Forecast
9.1 Introduction
9.2 North America Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Type
9.6.1 Power Wheelsets
9.6.2 Non-powered Wheelsets
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 Railway Wheelsets Market Size Forecast by Applications
9.10.1 Intercity Rail Transit
9.10.2 Urban Rail Transit
9.10.3 Harvesters
9.10.4 Others
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 Railway Wheelsets Analysis and Forecast
10.1 Introduction
10.2 Europe Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Type
10.6.1 Power Wheelsets
10.6.2 Non-powered Wheelsets
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 Railway Wheelsets Market Size Forecast by Applications
10.10.1 Intercity Rail Transit
10.10.2 Urban Rail Transit
10.10.3 Harvesters
10.10.4 Others
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 Railway Wheelsets Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Type
11.6.1 Power Wheelsets
11.6.2 Non-powered Wheelsets
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 Railway Wheelsets Market Size Forecast by Applications
11.10.1 Intercity Rail Transit
11.10.2 Urban Rail Transit
11.10.3 Harvesters
11.10.4 Others
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 Railway Wheelsets Analysis and Forecast
12.1 Introduction
12.2 Latin America Railway Wheelsets 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 Railway Wheelsets Market Size Forecast by Type
12.6.1 Power Wheelsets
12.6.2 Non-powered Wheelsets
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 Railway Wheelsets Market Size Forecast by Applications
12.10.1 Intercity Rail Transit
12.10.2 Urban Rail Transit
12.10.3 Harvesters
12.10.4 Others
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) Railway Wheelsets Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Railway Wheelsets 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) Railway Wheelsets Market Size Forecast by Type
13.6.1 Power Wheelsets
13.6.2 Non-powered Wheelsets
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) Railway Wheelsets Market Size Forecast by Applications
13.10.1 Intercity Rail Transit
13.10.2 Urban Rail Transit
13.10.3 Harvesters
13.10.4 Others
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 Wheelsets Market: Competitive Dashboard
14.2 Global Railway Wheelsets Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NIPPON STEEL
14.3.2 Railway Wheelset＆Brake Ltd
14.3.3 Jiangsu Railteco Equipment
14.3.4 Lucchini RS S.p.A.
14.3.5 Liberty Ostrava as
14.3.6 CAF
14.3.7 GHH-BONATRANS
14.3.8 ArcelorMittal Engineering Products Ostrava Ltd
14.3.9 Zhiqi Railway Equipment
14.3.10 NIPPON STEEL
