Railway Couplers Market Outlook - 2027
Railway couplers are used to connect rolling stock in a train to maximize the flexibility and convenience of railway systems. Railway couplers that has high storage capacity are used to store large scale data such as drones, action cameras, and video surveillance systems. as of now there is growing trend of implementation of automation technologies and capturing of high-definition pictures and videos across various sectors is becoming the major factor that drives are need for railway couplers. Apart from that, the concept of virtual coupling in railway coupler systems is having importance as virtual coupling allows trains to run closer without any physical contact that increase the chances of safety as Virtual coupling enhances the effectiveness of railway freight services by decreasing the time required and cost associated with transportation. Because of this, It also eliminates the need for mechanical coupling. Currently, the concept of virtual coupling is in the stage of research and development, though it is expected to gain importance in the next few years.
Covid impact on industry -
COVID-19 pandemic has shut-down the production of various products in the railway couplers industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of railway couplers market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
This railway couplers have got its importance in joining and functioning of tracks and as regarding safety purpose they have got their high use and its demand is driving the growth of it .
Growing demand and need of virtual coupling
The concept of virtually coupled trains is gaining traction in the railway couplers market. This concept allows trains to run closer together without any physical contact. The use of existing railway network can be increased by virtual coupling because the coupling takes place while in motion by using a rendezvous maneuver. Virtual coupling can increase the efficiency of railway freight services by reducing the transport cost and time.
Moreover, virtually coupled trains occupy one slot compared to several by freight trains running separately. Although the concept of virtual coupling is in the research and development stag
Several countries are investing in railway projects to improve their domestic and international connectivity and logistics channels.
New railway projects are driving the growth of market
The Government of India has approved multiple railway projects including new lines and doubling of existing lines. As China is also investing heavily in the development railway networks between several Asian and European countries as part of its Belt and Road initiative. Similarly, multiple new railway projects are under planning, development, and construction stages in various countries. Thus, the investments in new railway projects is driving the growth of the market during the upcoming time. Railway projects require huge investments which makes them a major cost burden for the national economy. This leads to frequent delays in project implementation and huge time gaps between planning, start of construction, and completion. These delays in execution of railway projects affect the demand for railway couplers which in turn restricts the growth of the market.
Key benefits of the report:
- This study presents the analytical depiction of the railway couplers market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the railway couplers market share.
- The current market is quantitatively analyzed to highlight the railway couplers market growth scenario.
Railway Couplers Market Report Highlights
By Product Type
Key Market Players
Nippon Steel Corporation, Dellner Couplers, Titagarh Wagons, Escorts Group, Voith Group