Global Rail Composites Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Rail Composites Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Railway composite materials include carbon fiber, glass fiber, etc.Using composite makes the railways lighter and renders greater resistance to heat, external impact and reduce power consumption by improving overall performance. Various other benefits associated with the reduction of railway weight are lower inertia, less track wear, enhanced stability, and the ability to achieve high speed. With extensive research and cost-effective mass production techniques in place, the demand for composite in railway sector has increased.

Market Overview:

The latest research study on the global Rail Composites market finds that the global Rail Composites market reached a value of USD 1027.53 million in 2022. It’s expected that the market will achieve USD 1630.56 million by 2028, exhibiting a CAGR of 8.0% during the forecast period.

COVID-19 Impact on Rail Composites Industry

At the beginning of 2020, the COVID-19 disease began to spread globally, and major countries in the world have implemented foot bans and work suspension orders. As of October 2021, more than 240 million people worldwide have been infected with COVID-19. Except for the medical supplies and life support product industries, most industries have been greatly affected, and the rail composites industry has also been greatly affected.

The pandemic has reduced the demand for the rail composites market. The growth of the railway industry has slowed due to travel restrictions and people avoiding public transportation. In addition, the government is using funds to fight the pandemic, because this is their top priority, thereby reducing investment in the research and development and production of railway composite materials.

The pandemic has also disrupted the supply chain of the industry. Since the outbreak of the new crown pneumonia epidemic, global composite materials companies have been severely affected. Many companies have suspended operations, suspended production, reduced annual expenditures, and revised annual performance expectations. Basic tasks such as raw material procurement, order production, and product delivery have become difficult. In addition, the arrival of the second wave of epidemics across Europe and the United States is bringing uncertainty to the market and disrupting the supply chain.

Region Overview:

From 2022-2027, United States is estimated to witness robust growth prospects.

Company Overview

The top three companies are Airex Composite Structures, Victall and Hexcel Corporation with the revenue market share of 18.84%, 14.99% and 3.35% in 2020.

As a part of Schweiter Technologies, the internationally renowned 3A Composites Mobility has more than 60 years of experience in manufacturing composite parts for various industries, and it faces the future. SCHWEITER TECHNOLOGIES is a global group specializing in the development, manufacturing and commercialization of lightweight construction composite materials and composite solutions.

Qingdao Weiao Rail Co., Ltd. is mainly engaged in the research and development, production, sales and service of rail transit vehicle supporting products. The main products include interior products, toilet systems, metal structural parts, modular products and external structural parts, etc., which are supporting high-speed trains. A leading company in the field of product design, research and development, production and comprehensive supporting capabilities.

Segmentation Overview:

Among different product types, Glass Fiber Composites segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Interior segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Rail Composites market covered in Chapter 3:

EURO-COMPOSITES
Hexcel Corporation
Airex Composite Structures
Dartforfd Composites
Victall
Cytec Industries Inc
Premier Composite Technologies
Kingfa
FDC Composites Inc.
Gurit Holding Ag
Teijin Limited
Joptek Oy Composites

In Chapter 4 and Chapter 14.2, on the basis of types, the Rail Composites market from 2018 to 2029 is primarily split into:

Glass Fiber Composites
Carbon Fiber Composites

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Rail Composites market from 2018 to 2029 covers:

Exterior
Interior

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)