Rail Wheels and Axles Market was valued at USD 208.9 million in 2020 and is expected to reach USD 270.10 million by 2027, growing at a CAGR of 5.4% from 2022 to 2027.
A rail wheel or train wheel is definite a wheel that is designed precisely to be used on railway tracks. A rolling component is pushed over an axle and mounted straight on a railway carriage or locomotive or in some instances indirectly onto a bogie. Usually, rail wheels are forged or cast and are subject to heat treatment for achieving a specific level of the harness. A lathe is used for truing of new wheels to a specific profile prior to being pressed onto the axle. Wheel profiles are essential to be checked on a regular basis to ensure that the interaction between the rail and wheel is appropriate. In the event of incorrect truing or wearing out of wheels, the rolling resistance can increase, which can result in reduced energy efficiency and is also known to because derailment.
In India, the Ministry of Railway and the Ministry of Urban Development have teamed up to achieve the smart city mission. Furthermore, in metropolitan cities, governments are concentrating on investing substantially to encourage the introduction of large-scale public transport infrastructures, such as bullet trains and high-speed trains, to make public transport quicker. All these factors are expected to lead to the expansion of the rail wheel and axle market size over the coming years.
The Rail Wheel and Axle market in the U.S. is estimated at US$553.4 Million in the year 2021. China, the world`s second-largest economy, is forecast to reach a projected market size of US$878 Million by the year 2026 trailing a CAGR of 6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Amsted Rail Receives Microsoft’s Use-Case of the Year Recognition for Manufacturing
Amsted Rail has received Microsoft’s Use-Case of the Year recognition for Manufacturing. Amsted Rail earned this recognition for its successful use of HoloLens 2, Microsoft’s mixed reality technology.
During the height of the COVID-19 pandemic, one of Amsted Rail’s customers was confronted with an issue that could not be resolved locally, therefore halting assembly. Under normal circumstances, a service engineer would travel to provide onsite customer service. With international borders shut down and health and safety concerns, Amsted Rail shipped a HoloLens 2 kit to its customer instead. Engineers, service technicians and other specialists from around the Amsted Rail globe collaborated and remotely guided their customer, ultimately solving the complex problem in a timely manner.
What are the major Applications, Types, and Regions of Rail Wheels and Axles Market?
Rail Wheels and Axles Market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Applications, it is segmented into
All these factors greatly affect the Rail Wheels and Axles market growth. It further aims at offering a complete overview on a detailed assessment of important features of different industries including sales volume, market revenue, demand size, sales growth, pricing analysis, and changing market growth factors in regions such as Follows,
The Rail Wheels and Axles Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Rail Wheels and Axles Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Scope of the Report covers Rail Wheels and Axles Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Rail Wheels and Axles Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how worldwide market is working through efficient information graphics.
Forecast Period 2022 to 2027 CAGR
CAGR of 5.4% during the review period (2022 to 2027).
Mondi Group, DS GHH-BONATRANS, Lucchini RS, EVRAZ NTMK, GMH-Gruppe, Interpipe, Vividthree Holdings Ltd. (SES :OMK.SI), Amsted Rail
• North America
• Rest of the World
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
2017 to 2021
2022 to 2027
Number of Pages
Yes, the report can be customized as per your needs
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Frequently Asked Questions
What is the study period of this market?
The Rail Wheels and Axles Market is studied from 2017 - 2027.
Who are the key players in Rail Wheels and Axles Market?
Mondi Group, DS GHH-BONATRANS, Lucchini RS, EVRAZ NTMK, GMH-Gruppe, Interpipe, Vividthree Holdings Ltd. (SES :OMK.SI), Amsted Rail, Malaysia Steel Works (KL) Bhd. (Kuala Lumpur :5098.KL), NSSMC, Kolowag others.
What are the significant types of Rail Wheels and Axles Market?
Rolled Wheels & Axles, Forged Wheels & Axles, Others.
What are the major end-use applications of Rail Wheels and Axlesy Market?
Unit Trains, Mixed Freight Trains, Intermodal Trains, Other.
What segments are covered in the Rail Wheels and Axles Market report?
The Global Rail Wheels and Axle Market is segmented on the basis of Product, Application, and Geography.
How can I get a sample report/company profile for the Rail Wheels and Axles Market?
The sample report for the Rail Wheels and Axle Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.