Global Rail Wheel Market 2024-2028
The rail wheel market is forecasted to grow by USD 1309.2 mn during 2023-2028, accelerating at a CAGR of 5.46% during the forecast period. The report on the rail wheel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing rail passenger traffic, railway infrastructure development in asian countries, and increased demand for rail logistics due to rising trade activities.
Technavio's rail wheel market is segmented as below:
By Type
- Freight trains
- Long-distance trains
- Suburban trains
- Metro and monorails
By Application
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the increased government funding and public-private partnerships (ppps) as one of the prime reasons driving the rail wheel market growth during the next few years. Also, shift toward sustainable development for rail wheel manufacturing and adoption of digitization and iot in global rail wheel market will lead to sizable demand in the market.
The report on the rail wheel market covers the following areas:
- Rail wheel market sizing
- Rail wheel market forecast
- Rail wheel market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading rail wheel market vendors that include Amsted Industries Inc., ArcelorMittal, Bharat Forge Ltd., Bochumer Verein Verkehrstechnik GmbH, Bombardier Inc., BONATRANS GROUP a. s, Commonwealth Steel Ltd., CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A., CRRC Corp. Ltd., EVRAZ Plc, Georgsmarienhutte Holding GmbH, JIANGSU RAILTECO EQUIPMENT CO. LTD., Kolowag, Lucchini RS Group, Nippon Steel Corp., Qingdao TSKY Railway Equipment Co. Ltd., Ramkrishna Forgings Ltd., Steel Authority of India Ltd., Taiyuan Heavy Industry Co. Ltd., and United Metallurgical Co.. Also, the rail wheel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.