Global Rail Fishplates Market to Reach $6.9 Billion by 2030
The global market for Rail Fishplates estimated at US$5.1 Billion in the year 2023, is expected to reach US$6.9 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2023-2030. Common Rail Joint, one of the segments analyzed in the report, is expected to record a 4.6% CAGR and reach US$3 Billion by the end of the analysis period. Growth in the Insulated Rail Joint segment is estimated at 5.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 6.6% CAGR
The Rail Fishplates market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$928.1 Million by the year 2030.
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