Rail wheel sensor is the device used for sensing the speed, railway track condition, lubrication, and axel spacing. It converts these physical parameters into signals which can be measured electrically. Rail wheel sensors are critical components of the monitoring system. Railway tracks can be monitored effectively to avoid any failure or accident with the help of these sensors. Rail wheel sensors are made as per the requirement and are widely used for track side lubrication monitoring, vision monitoring, speed measurement, hot box and wheel flat detection and wheel arrangement detection in the global railway system. Rail wheel sensors are subjected to various environmental changes and are designed to sustain in extreme temperature and other environmental conditions.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the rail wheel sensors industry attributed to the lockdown in countries worldwide. This has hampered the growth of rail wheel sensors market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of rail wheel sensors in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for rail wheel sensors was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for rail wheel sensors.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Rail wheel sensors manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Rail wheel sensors manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Advancement in railway monitoring is one of the primary factors driving the rail wheel sensors market. Railway operators are emphasizing more on passenger safety and trying to minimize the numbers of accident due to increase in railway travelers and to maintain the service quality. Use of rail wheel sensors adds value to railway monitoring sensors. This is another factor which fosters the growth of rail wheel sensors market. Rail wheel sensors can be installed on both newly built and existing railway tracks at low cost, which offers scope for improvement in both cases. In addition, it also helps in maintenance of cycle optimization of railway tracks, wheels, and bogies at very low cost, which eventually reduces the cost of maintenance cycle. This factor helps in creating opportunities for the rail wheel sensors market. High cost of rail wheel sensor is a factor which can hamper the market growth.
Market Trends
- Europe is dominating the global rail wheel sensors market due to housing large rolling stock market in Western Europe.
- In Latin America, public transport such as railway and metro, is preferred over personal vehicle which is creating scope of improvement in railway system. Therefore, the rail wheel sensor market is expected to witness the demand in region.
- Asia-Pacific region holds a significant consumption of rail wheel sensors. China, India and Japan are the countries, which are continuously promoting railway and metro due to rise in traffic and vehicle pollution problems. They are opting advance technologies which is creating opportunities for the rail wheel sensors market to improve the service quality of railway and metro.
Key Benefits of the Report
- This study presents the analytical depiction of the rail wheel sensor market 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 detailed analysis of the rail wheel sensor market share.
- The current market is quantitatively analyzed to highlight the rail wheel sensor market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed rail wheel sensor market analysis based on competitive intensity and how the competition will take shape in coming years.
Rail Wheel Sensors Market Report Highlights
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 Key Market Players | Shenzhen Javs Technology,, Frauscher Sensor Technology,, Siemens,, Argenia Railway Technologies,, Honeywell,, Western-Cullen-Hayes,, Anhui Landun Photoelectron,, Altpro,, Senchuan., Fersil,, Pintsch Tiefenbach,, Beijing Railtechcn Technology, |
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