Market Overview:
The global rail wheels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the global rail wheels market can be attributed to the increasing demand for high-speed trains and freight wagons across the globe. Additionally, rising investments in railway infrastructure by governments are also contributing to the growth of this market. The global rail 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, and locos. 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 solutions across different regions worldwide. Passenger wagon sales are estimated witness highest growth rate over next decade owing increased spending on railways sector by countries such as China India etc., which would spur replacement demand over original equipment manufacturers (OE) Market .
Product Definition:
Rail Wheels are the circular metal discs fitted to the axles of railway vehicles to enable them to run on rails. They are usually made of steel, but can be made of other materials such as aluminum or magnesium alloys. Rail wheels play an important role in railway operations, as they provide a means of transmitting locomotive power from the engine to the train cars, and they also help keep the train cars aligned on the track.
High speed:
High speed is defined as the ratio of wheel speed to the axle velocity. It is a key parameter in determining the performance and efficiency of rail wheels. High-speed wheels are designed for high operating speeds, typically ranging from 700 to 1000 rpm. These wheels offer several benefits such as reduced turning radius, increased load capacity, improved ride quality and efficiency on curves among others which increase their applicability in heavy freight applications over conventional ones resulting in higher demand growth factor over the forecast period.
Freight Wagons:
Freight wagons are a type of railway vehicle that is used to transport goods. They are designed to carry various types of freight including passengers and can be used for the transportation of goods in both, road and rail modes. The design varies according to the need or demand of the customer as different types of freight wagons have been designed for carrying bulk, small or heavy items such as automobiles, chemicals, food products and beverages among others.
Application Insights:
The other application segment includes military, industrial and others. Other applications include the usage of rail wheels in the automotive industry as well as for agriculture and forestry products. The growing demand for agricultural products coupled with increasing population is expected to drive this segment over the forecast period.
The global railway wheels market has witnessed significant growth in recent years owing to increased investments by governments across various countries in order to develop their infrastructural facilities along with improving connectivity between different regions. Furthermore, a rise in passenger traffic on account of rapid urbanization along with economic development is anticipated to boost product demand over the forecast period. Increasing use of railways for transporting goods including raw materials from rural areas into urban centers coupled with high consumer spending power are expected drive AMTRAK which was previously known as American Railroads Administrationkrit (ARA) which operates international trains connecting U.S.
Regional Analysis:
Europe dominated the global rail wheels market in terms of revenue share in 2017. The growth is attributed to the increasing investments made by governments for improving railway infrastructure and traction power. For instance, Germany has increased its budget for modernization of railways from USD X billion (EUR 1.6 billion) to USD X billion (EUR 3.4 billion).
Asia Pacific is expected to witness significant growth over the forecast period owing to various government initiatives taken up by China and India aimed at developing their respective railway networks across Asia Pacific region as well as globally.
The UIC classification system includes four main classes: A1, A2, B1,.
Growth Factors:
- Increasing demand for rail transportation: The increasing population and the consequent increase in the demand for goods and services is propelling the growth of the rail wheels market.
- Technological advancements: The development of new technologies in railway transportation is aiding the growth of this market. For instance, introduction of high-speed trains has led to an increase in demand for better quality rail wheels.
- Government initiatives: Governments across different countries are investing in railway infrastructure, which is driving the growth of this market. For instance, China has announced plans to invest 8 billion in its railways by 2020. This will create opportunities for players operating in this market space.
Scope Of The Report
Report Attributes
Report Details
Report Title
Rail Wheels Market Research Report
By Type
High speed, Freight Wagons, Passenger Wagons, Locos
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, Durgapur Steel Plant, Amsted Rail, CAF, Comsteel, Masteel, Taiyuan Heavy Industry, Datong ABC Castings Company, Xinyang Tonghe wheels, Zhibo Lucchini 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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Rail Wheels Market Report Segments:
The global Rail Wheels market is segmented on the basis of:
Types
High speed, Freight Wagons, Passenger Wagons, Locos
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
- Durgapur Steel Plant
- Amsted Rail
- CAF
- Comsteel
- Masteel
- Taiyuan Heavy Industry
- Datong ABC Castings Company
- Xinyang Tonghe wheels
- Zhibo Lucchini Railway Equipment
Highlights of The Rail 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
- 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 Rail 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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- 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?
Rail wheels are a type of wheel that is used on trains and other rolling transportation vehicles. They are made out of metal or plastic and have a large surface area that allows them to move easily along the track.
Some of the major players in the rail wheels market are NSSMC, Interpipe, OMK Steel, EVRAZ NTMK, Bochumer Verein Verkehrstechnik (BVV), Lucchini RS, Rail Wheel Factory, GHH-Bonatrans, Durgapur Steel Plant, Amsted Rail, CAF, Comsteel, Masteel, Taiyuan Heavy Industry, Datong ABC Castings Company, Xinyang Tonghe wheels, Zhibo Lucchini Railway Equipment.
The rail wheels market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Rail Wheels Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Rail Wheels Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Rail Wheels Market - Supply Chain
4.5. Global Rail Wheels Market Forecast
4.5.1. Rail Wheels Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Rail Wheels Market Size (000 Units) and Y-o-Y Growth
4.5.3. Rail Wheels Market Absolute $ Opportunity
5. Global Rail Wheels Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Rail Wheels Market Size and Volume Forecast by Type
5.3.1. High speed
5.3.2. Freight Wagons
5.3.3. Passenger Wagons
5.3.4. Locos
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Rail Wheels Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Rail Wheels Market Size and Volume Forecast by Application
6.3.1. OE Market
6.3.2. AM Market
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Rail Wheels Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Rail Wheels Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Rail Wheels Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Rail Wheels Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Rail Wheels Demand Share Forecast, 2019-2026
9. North America Rail Wheels Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Rail Wheels Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Rail Wheels Market Size and Volume Forecast by Application
9.4.1. OE Market
9.4.2. AM Market
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Rail Wheels Market Size and Volume Forecast by Type
9.7.1. High speed
9.7.2. Freight Wagons
9.7.3. Passenger Wagons
9.7.4. Locos
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Rail Wheels Demand Share Forecast, 2019-2026
10. Latin America Rail Wheels Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Rail Wheels Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Rail Wheels Market Size and Volume Forecast by Application
10.4.1. OE Market
10.4.2. AM Market
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Rail Wheels Market Size and Volume Forecast by Type
10.7.1. High speed
10.7.2. Freight Wagons
10.7.3. Passenger Wagons
10.7.4. Locos
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Rail Wheels Demand Share Forecast, 2019-2026
11. Europe Rail Wheels Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Rail Wheels Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Rail Wheels Market Size and Volume Forecast by Application
11.4.1. OE Market
11.4.2. AM Market
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Rail Wheels Market Size and Volume Forecast by Type
11.7.1. High speed
11.7.2. Freight Wagons
11.7.3. Passenger Wagons
11.7.4. Locos
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Prouct Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Rail Wheels Demand Share, 2019-2026
12. Asia Pacific Rail Wheels Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Rail Wheels Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Rail Wheels Market Size and Volume Forecast by Application
12.4.1. OE Market
12.4.2. AM Market
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Rail Wheels Market Size and Volume Forecast by Type
12.7.1. High speed
12.7.2. Freight Wagons
12.7.3. Passenger Wagons
12.7.4. Locos
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Rail Wheels Demand Share, 2019-2026
13. Middle East & Africa Rail Wheels Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Rail Wheels Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Rail Wheels Market Size and Volume Forecast by Application
13.4.1. OE Market
13.4.2. AM Market
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Rail Wheels Market Size and Volume Forecast by Type
13.7.1. High speed
13.7.2. Freight Wagons
13.7.3. Passenger Wagons
13.7.4. Locos
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Rail Wheels Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Rail Wheels Market: Market Share Analysis
14.2. Rail Wheels Distributors and Customers
14.3. Rail Wheels Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. NSSMC
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Interpipe
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. OMK Steel
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. EVRAZ NTMK
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Bochumer Verein Verkehrstechnik (BVV)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lucchini RS
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Rail Wheel Factory
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. GHH-Bonatrans
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Durgapur Steel Plant
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Amsted Rail
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. CAF
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Comsteel
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Masteel
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Taiyuan Heavy Industry
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Datong ABC Castings Company
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Xinyang Tonghe wheels
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Zhibo Lucchini Railway Equipment
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
