Railway wheel-sets are considered to be the central shaft for a rotating wheel. Bearings or bushings are provided at mounting points where an axle is supported; an impact or bushing sits inside a central hole within the wheel to permit it to rotate around the axle. Vendors are consistently focusing on improving products by increasing efficiency, accuracy, and cost-effectiveness of the production process. Recent advancements in manufacturing technologies are effectively addressing these issues, which is expected to propel the market growth during the forecast period. Rapid urbanization, rise in vehicle production, growth in demand for automobiles, regulations related to fuel efficiency, and improvements in dynamics are expected to further boost growth of the market during the forecast period.
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Major Market Players:
Amsted Rail Company Inc., Nippon Steel & Sumitomo Metal Corporation, Construcciones, Auxiliar de Ferrocarriles, Bombardier Inc., CAF, GHH-BONATRANS, Lucchini RS, Amsted Rail, and Kolowag Mafersa S.A.
Increase in of digitalization across the globe is expected to propel the market growth during the forecast period. However, lack of IoT infrastructure in developed and developing countries restrains growth of the market. Furthermore, advancements in connectivity (cloud & 5G) is expected to offer lucrative opportunities for the market during the forecast period.
Digitization is expected to enhance safety in rail infrastructure and improve overall operational efficiency. Furthermore, continuous digitalization in railway networks is expected to allow consumers to get real-time information related to training movements and train position. This particular factor is anticipated to further drive the global railway wheel-sets market. In addition, automation in metros is gaining traction across the world, as it is anticipated that train automation would reduce overall energy consumption during the forecast period.
Key segments covered:
| Segments | Subsegments |
| Wheel Type | Monoblock Wheels Resilient Wheels Rubber Tyred Wheels Steel Tyred Wheels Other Special Wheels |
| Axle | Hollow Axles Solid Axles |
| End-User | High-Speed Railway Fast Speed Railway Subway Others |
| Sales Channel | Original Equipment Manufacturer (OEM) Aftermarket |
Increase in technological advancements in train networks, along with the trend of autonomous technology compels train manufacturers to invest hefty sums in R&D for manufacturing of light materials for wheels and axles for freight trains, passenger trains, and short-distance trains. Passengers desire to reach their destinations quickly and comfortably at a low fare is a major factor that propels growth of the market. Moreover, autonomous trains are also projected to gain superior traction as they are equipped with computerized monitoring technology that can detect failures in rail wheels and axles.
Key benefits of the report:
- This study presents the analytical depiction of the railway wheel-sets market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the railway wheel-sets market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the railway wheel-sets market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed railway wheel-sets market analysis based on competitive intensity and how the competition will take shape in the coming years.
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