According to a recent report published by Allied Market Research, titled, “Rail Glazing Market by Product, Application, Coach Type, and Glazing Technology: Europe Opportunity Analysis and Industry Forecast, 2021–2028”
The Europe rail glazing market was valued at $340.8 million in 2020, and is projected to reach $484.2 million by 2028, registering a CAGR of 4.3% from 2021 to 2028.
Factors, such as rolling stock manufacturing and refurbishment projects, are estimated to create lucrative opportunity for rail glazing solutions as rail glazing is a crucial component of any rail transportation medium. The EMU segment is expected to create significant opportunity in the coming years, owing to electrification trend of rolling stock as well as planned manufacturing projects across Europe.
The railway industry in Europe is adopting electric-driven railway transportation medium to lower carbon footprints and support green mobility. Adoption of green mobility is expected to implement high-end technology enabled components to cater to changing needs. This is expected to create demand for advanced rail glazing technology in the coming years. The coated segment is anticipated to hold leading market share in terms of value, owing to its operational efficiency along with improved safety of rail passengers. The Europe rail glazing market is witnessed as a consolidated market as limited number of players is operating in the market.
Market participants of rail glazing are following certain approaches to manage operations by slashed budgets, extended equipment lifecycles, decreased staff sizes, and reduced salaries in the short term to overcome financial downturn. This positive demand outlook for railway transportation and rolling stock solution is estimated to witness positive growth for rail glazing as it is associated with safe and cost-effective glazing solution. The rail glazing market in Europe is expected to witness strong recovery in 2021, owing to changing passenger requirement for railway coach requirement for social distancing measures due to the COVID-19 pandemic, rolling stock manufacturing outlook, and refurbishment projects of rail.
Key Findings Of The Study
- By product, the side windows segment is expected to register significant growth during the forecast period.
- On the basis of application, the OEM segment is projected to lead the rail glazing market in Europe, in terms of market share, by the end of the forecast period.
- Depending on coach type, the EMU segment is expected to register significant CAGR during the forecast period.
- The UK is anticipated to witness leading market growth during the forecast period, owing to upcoming refurbishment as well as new rolling stock projects.
The key players profiled in the Europe rail glazing market report are AGC Inc., Dellner Romag Ltd., Fuyao Glass Industry Group Co., Ltd., GL Spezialverglasung GmbH, Independent Glass Co. Ltd., Lippert, Nippon Sheet Glass Company, Limited, OSG, Russian Glass Company (RGC), and Saint-Gobain.