Rail Axles Market Share, Demand, Growth 2021

Rail Axles Market Outlook 2028 -

Rail axles are one of the most important components in railway vehicles with regard to safety. Axles are used to transfer vertical load of vehicle body to wheels. These axles are connected to coach and each coach consists of two axles, one at the front end of coach and other at rear end of the coach. Axles help transfer driving force to wheels. Bearings are fitted through rail axle and then wheels are mounted on axle. Bearing is installed through track axles and then wheel is installed on axles. No fasteners are used in assembly of axles for fitting axles hydraulic press fitting technology is used, which does smooth fitting, using hydraulic pressure. Axles in the coach should also bear load of vehicle or any cargo.
COVID-19 scenario Analysis:

The outbreak of COVID-19 has resulted in flight cancellations, travel bans, and quarantines, which led to massive slowing of the rail market. Public transport in most cities was partly restricted during the first phase of lockdown, which impacted the global rail axle market. Import & export, trade restrictions, and closures of manufacturing industries has also affected the rail axle market. However, supply of oxygen tanks, transportation of vaccine, and essential medicine through railway has helped the sector to survive in the ongoing pandemic situation.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Developing rail infrastructure, use of lightweight materials for trains, and heavy investments in new technologies are driving the growth of the market.
Rise in usage of air transport and road transport is expected to hamper growth of the market.
New generation trains equipped with computerized monitoring devices, which automatically detects failures in axles and extensive research and development to produce advance and better rail axles provide opportunities for the rail axles market.

The rail axles market trends are as follows:

Developing rail infrastructure

Railway network is expanding rapidly across the globe, owing to rapid urbanization and rise in income of the middle-class segment. For instance, In India, the ministry of railways and the ministry of urban development have joined to initiate the smart city mission. Moreover, governments of various countries are investing heavily to encourage introduction of large-scale public transportation infrastructure, such as bullet trains and high-speed trains to speed up public transportation. Thus, developing rail infrastructure drives growth of the rail axles market.
Key benefits of the report:

This study presents the analytical depiction of the rail axles industry 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 challenges of the rail axles market.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the market growth scenario.
The report provides a detailed contract logistics market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the rail axles market research report:

Which are the leading market players active in the rail axles market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the rail axles market?
What are the projections for the future that would help in taking further strategic steps?

Rail Axles Market Report Highlights

Aspects	Details
By Axle Type	Hollow Axles Solid Axles
By End Use	High Speed Railway Fast Speed Railway Subway Other End Uses
By Sales Channel	OEMs Aftermarket
By Product Type	Less Than 600 mm 600-1000 mm 1000-1100 mm Above 1100 mm
By Region	North America (U.S., Canada, Mexico) Europe (Germany, France, UK, Italy, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa)
Key Market Players	Kolowag, Construcciones y Auxiliar de Ferrocarriles, VELTRUP Technik Philippines, Inc., Simmons Machine Tool Corporation (NSH Group), Maanshan Iron and Steel Company, Bharat Forge Ltd., Nippon Steel & Sumitomo Metal Corporation, Amsted Rail Company, Inc., United Metallurgical Company OMK CJSC, S.A., Bombardier Inc.