Report Code: A10414 | Pages: NA | Jul 2023 | 2770 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Railway Wheel-sets Market
Request Now !Railway wheel-sets are considered to be the central shaft for a rotating wheel. Bearings or bushings are provided at mounting points where an axle is supported; an impact or bushing sits inside a central hole within the wheel to permit it to rotate around the axle. Vendors are consistently focusing on improving products by increasing efficiency, accuracy, and cost-effectiveness of the production process. Recent advancements in manufacturing technologies are effectively addressing these issues, which is expected to propel the market growth during the forecast period. Rapid urbanization, rise in vehicle production, growth in demand for automobiles, regulations related to fuel efficiency, and improvements in dynamics are expected to further boost growth of the market during the forecast period.
COVID-19 scenario analysis:
Increase in of digitalization across the globe is expected to propel the market growth during the forecast period. However, lack of IoT infrastructure in developed and developing countries restrains growth of the market. Furthermore, advancements in connectivity (cloud & 5G) is expected to offer lucrative opportunities for the market during the forecast period.
The railway wheel-sets market trends are as follows:
Digitization is expected to enhance safety in rail infrastructure and improve overall operational efficiency. Furthermore, continuous digitalization in railway networks is expected to allow consumers to get real-time information related to training movements and train position. This particular factor is anticipated to further drive the global railway wheel-sets market. In addition, automation in metros is gaining traction across the world, as it is anticipated that train automation would reduce overall energy consumption during the forecast period.
Increase in technological advancements in train networks, along with the trend of autonomous technology compels train manufacturers to invest hefty sums in R&D for manufacturing of light materials for wheels and axles for freight trains, passenger trains, and short-distance trains. Passengers desire to reach their destinations quickly and comfortably at a low fare is a major factor that propels growth of the market. Moreover, autonomous trains are also projected to gain superior traction as they are equipped with computerized monitoring technology that can detect failures in rail wheels and axles.
Key benefits of the report:
Questions answered in the railway wheel-sets market research report:
Railway Wheel-Sets Market Report Highlights
Aspects | Details |
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By Wheel Type |
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By Axle Type |
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By End-Use |
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By Sales Channel |
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By Region |
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Key Market Players | Construcciones, Qingdao TSKY Railway, Lucchini RS, CAF, Bombardier Inc., Auxiliar de Ferrocarriles, GHH-BONATRANS, Nippon Steel & Sumitomo Metal Corporation, AKolowag Mafersa S.A., Amsted Rail Company Inc. |
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