Market Overview:
The global wheels and axles for railways market is estimated to be valued at US$ 2,362.8 Mn in 2018 and is projected to reach US$ 3,711.5 Mn by 2030, registering a CAGR of 5.4% from 2018 to 2030. The market growth can be attributed to the increasing demand for high-speed trains across the globe. In terms of type, the rolled wheels & axles segment is expected to account for a major share of the global market during the forecast period owing to its low manufacturing cost as compared with forged wheels & axles. In terms of application, the high-speed train segment is anticipated to hold a dominant position in the global market throughout the forecast period due rising demand for high-speed trains across developed.
Product Definition:
A wheel is a circular component that is intended to rotate on an axle. The axle is a shaft that passes through the center of the wheel and attaches at either end to things that need to be moved. The wheel-and-axle assembly allows a load to be transferred from one place to another with less effort on the part of the person or animal pushing or pulling it. This simple machine multiplies force, making it easier for people and animals to move heavy objects around.
Rolled Wheels & Axles:
Rolled wheels & axles, it's usage and growth factor in the railway industry is a new-age technology that has made its presence felt in the market. The demand for rolled wheels & axles is expected to grow exponentially owing to several benefits such as ease of maintenance, low cost of raw material over the forecast period.
Forged Wheels & Axles:
Forged wheels & axles are manufactured using different alloys of metals such as cast iron, steel and aluminum. The materials used to manufacture forged wheels & axles provide additional benefits in terms of strength, corrosion resistance and durability.
The material composition used for manufacturing the forged product depends on the end-use application including railways industry or automotive industry.
Application Insights:
High-speed train was the largest segment in terms of revenue share in 2017. High-speed trains are designed for speeds above 300 km/h. The majority of high-speed trains operate on rail tracks with a gauge size of 1,435 mm (4 ft 8 1/2 inches). The increasing use of forged wheels and axles for construction of high-speed railway track is expected to be one among the key factors driving the market over the forecast period.
The locomotive application segment is expected to witness significant growth over the forecast period owing to an increase in demand for diesel and steam locomotives from several countries across Asia Pacific, Latin America and Europe. In addition, an increase in freight traffic coupled with growing urbanization has resulted in increased demand for diesel engines across several regions including North America and Europe during past few years.
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, rising industrialization, and growing adoption of rail vehicles for inter-city travel.
The demand for steel wheel products is anticipated to increase owing to their increased application scope in industries other than railways such as mining, construction, marine applications among others. In addition, high demand from China due to its rapidly expanding transportation sector including high-speed trains and locomotives will drive regional growth over the coming years.
Europe was another prominent region that accounted for a significant share of revenue on account of increasing investments by governments towards improving railway infrastructure coupled with growing passenger traffic across countries such as Germany and France among others. Moreover, stringent government regulations regarding carbon emissions from diesel engines are expected favorably impact rolled steel wheel production capacity thereby supporting regional market growth during the forecast period.
Growth Factors:
- Increasing demand for transportation: The increasing population and the consequent increase in the demand for goods and services is expected to drive the growth of the wheels & axles market for railways.
- Technological advancements: The development of new technologies in railway transportation is anticipated to boost the growth of this market during the forecast period.
- Government initiatives: Governments across different countries are investing in railway infrastructure, which is likely to create opportunities for players operating in this market during the forecast period.
- Rising disposable income: With rising disposable incomes, consumers are increasingly preferring rail transport over other modes of transportation, thereby driving demand for wheels & axles used in railways systems across different regions worldwide. 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Wheels & Axles for Railways Market Research Report
By Type
Rolled Wheels & Axles, Forged Wheels & Axles
By Application
High-speed Train, Locomotives, Railroad Passenger Cars, Railroad Freight Cars, Metro
By Companies
Amsted Rail, NSSMC, Taiyuan Heavy Industry, Masteel, GHH-BONATRANS, Jinxi Axle, Interpipe, Penn Machine, EVRAZ NTMK, OMK, Xinyang Tonghe Wheels, GMH-Gruppe
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
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Wheels & Axles for Railways Market Report Segments:
The global Wheels & Axles for Railways market is segmented on the basis of:
Types
Rolled Wheels & Axles, Forged Wheels & Axles
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
High-speed Train, Locomotives, Railroad Passenger Cars, Railroad Freight Cars, Metro
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:
- Amsted Rail
- NSSMC
- Taiyuan Heavy Industry
- Masteel
- GHH-BONATRANS
- Jinxi Axle
- Interpipe
- Penn Machine
- EVRAZ NTMK
- OMK
- Xinyang Tonghe Wheels
- GMH-Gruppe
Highlights of The Wheels & Axles for Railways 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:
- Rolled Wheels & Axles
- Forged Wheels & Axles
- By Application:
- High-speed Train
- Locomotives
- Railroad Passenger Cars
- Railroad Freight Cars
- Metro
- 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 Wheels & Axles for Railways 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?
Wheels and axles are used on railways to move the trains. The wheels are attached to the axles, which in turn are connected to the rail tracks.
Some of the major companies in the wheels & axles for railways market are Amsted Rail, NSSMC, Taiyuan Heavy Industry, Masteel, GHH-BONATRANS, Jinxi Axle, Interpipe, Penn Machine, EVRAZ NTMK, OMK, Xinyang Tonghe Wheels, GMH-Gruppe.
The wheels & axles for railways market is expected to register a CAGR of 5.4%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wheels & Axles for Railways 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 Wheels & Axles for Railways Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wheels & Axles for Railways 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 Wheels & Axles for Railways 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 Wheels & Axles for Railways Market Size & Forecast, 2020-2028
4.5.1 Wheels & Axles for Railways Market Size and Y-o-Y Growth
4.5.2 Wheels & Axles for Railways 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 Rolled Wheels & Axles
5.2.2 Forged Wheels & Axles
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 High-speed Train
6.2.2 Locomotives
6.2.3 Railroad Passenger Cars
6.2.4 Railroad Freight Cars
6.2.5 Metro
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wheels & Axles for Railways 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 Wheels & Axles for Railways 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 Rolled Wheels & Axles
9.6.2 Forged Wheels & Axles
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 High-speed Train
9.10.2 Locomotives
9.10.3 Railroad Passenger Cars
9.10.4 Railroad Freight Cars
9.10.5 Metro
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 Rolled Wheels & Axles
10.6.2 Forged Wheels & Axles
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 High-speed Train
10.10.2 Locomotives
10.10.3 Railroad Passenger Cars
10.10.4 Railroad Freight Cars
10.10.5 Metro
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 Rolled Wheels & Axles
11.6.2 Forged Wheels & Axles
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 High-speed Train
11.10.2 Locomotives
11.10.3 Railroad Passenger Cars
11.10.4 Railroad Freight Cars
11.10.5 Metro
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 Rolled Wheels & Axles
12.6.2 Forged Wheels & Axles
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 High-speed Train
12.10.2 Locomotives
12.10.3 Railroad Passenger Cars
12.10.4 Railroad Freight Cars
12.10.5 Metro
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 Rolled Wheels & Axles
13.6.2 Forged Wheels & Axles
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 High-speed Train
13.10.2 Locomotives
13.10.3 Railroad Passenger Cars
13.10.4 Railroad Freight Cars
13.10.5 Metro
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 Wheels & Axles for Railways Market: Competitive Dashboard
14.2 Global Wheels & Axles for Railways Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Amsted Rail
14.3.2 NSSMC
14.3.3 Taiyuan Heavy Industry
14.3.4 Masteel
14.3.5 GHH-BONATRANS
14.3.6 Jinxi Axle
14.3.7 Interpipe
14.3.8 Penn Machine
14.3.9 EVRAZ NTMK
14.3.10 OMK
14.3.11 Xinyang Tonghe Wheels
14.3.12 GMH-Gruppe
