openPR Logo
Press release

Europe is expected to retain dominance with maximum adoption of rail wheel and axle market

Europe is expected to retain dominance with maximum adoption

Though the railway industry has marked its presence in a majority of economies, the actual production of locomotives and other rolling stock is concentrated in only a few economies with the involvement of a limited number of players. China, Mexico, Russia, and Germany are among those few economies where the railway wheel and axle manufacturers can tap into due to the presence of large scale OEMs. While the aftermarket segment holds a larger market value share than OEMs, it is likely to reduce in the forecast period owing to longer life of rail wheels and axles.

Europe is expected to retain dominance with maximum adoption of rail wheel and axle

The railway industry in Europe and North America is representing a total production value of around US$ 65 Bn, with gross value added being around 45% of the production value. Players in the region are adopting strategies to expand as well as strengthen the market in the region. Reduction in prices, adoption of more efficient processes, expansion of product portfolio, and extension of long term supply relations with key end use industries as well as localized manufacturers constitute the key strategies of major players, in order to gain an enhanced customer base and an augmented market share. Well-structured and efficient supply chain along with an improved retailing network for rail wheel and axle are also foreseen to be among the major growth strategies for reaching out to customers. In Russia, Germany, Italy, and the U.K., increasing passenger is also projected to drive the mainline segment over the forecast period.

Request Report TOC @

Emergence of disruptive technologies and reliance on data analytics is highly likely to creep in the railway industry in the region offering the OEMs to harness the potential of service business which can add up the revenue of the railway industry. The sprawling railway network in Europe is also expected to be one of the major factors driving adoption of rail wheel and axle in the region. Emergence of smart railways in the region has led to significant expansion of the railway system in the region. For instance, in Spain, International Union of Railways (UIC) and Spanish rail infrastructure manager ADIF have come together to achieve a goal of ‘Smart Station in Smart Cities’. The integration of solar power is another factor having a positive impact on the market and is being seen as a trending and long term factor. The European government has planned to install solar PV array in 15% of the train network across East Sussex, Kent, and West Sussex. The aim of this plan is to reduce the consumption of electricity in these particular cities.

Request for sample report:

China and North America are expected to have a neck and neck competition in terms of adoption over upcoming years

Due to booming industrialization in emerging economies such as China, the expansion of railways has also increased and is thus expected to trigger high demand for rail wheel and axle in the region. Introduction of new projects in both North America and China is likely to encourage the market growth in near future. For instance, The U.S. Department of Transportation (USDOT) is focusing on expansion of rail lines in the Sonoma-Marin Area. For this project, FTA (Freight Transport Association) provided a US$ 22.5 Mn fund to the rail ministry. In China, one of the leading Chinese companies recently signed two ambitious rail projects with Brazil for building two ticket railway related infrastructure projects in the Bahia state.

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Europe is expected to retain dominance with maximum adoption of rail wheel and axle market here

News-ID: 1571112 • Views: 212

More Releases from Persistence Market Research

Compression Therapy Devices Market to Exceed CAGR 5.4% by 2017-2025
A recently added report by Persistence Market Research (PMI), titled, “Global Market Study on Compression Therapy: Compression Bandage Expected to be the Most Lucrative Product Type Segment during 2017–2025,” throws light on important aspects of the market. It discusses in-depth the different growth drivers and restraints molding the growth path of the market, its size, and prospects going forward. It unravels the competitive dynamics in the market by leveraging popular
Healthcare Quality Management Market Value Can Reach CAGR 12% by 2017-2022
Healthcare quality management aims to improve the effectiveness of treatments and increase the satisfaction of the patients with the services they are being provided with. For this purpose, various laws have been enacted by the governments all across the world so that the interests of the patients are protected. Healthcare quality management also seeks to reduce the cost of healthcare and reduce the instances of medical errors if not totally
Explore Sickle Cell Disease Treatment Market Set to Achieve CAGR 6.0 % in Reven …
Global sickle cell disease treatment market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by increasing adoption of therapies, growing awareness regarding the sickle cell disease treatment in MEA region. “Sickle Cell Disease Treatment Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” is the new report published by Persistence Market Research for the projected period of 8-years, i.e. 2017-2025. According
Gardening Tools Market to Witness CAGR of 1.6% Rise in Value Share During the Pe …
In terms of volume, the global gardening tools market is projected to register 1.6% CAGR during the forecast period 2017 to 2025, according to a recent report by Persistence Market Research (PMR). PMR’s report estimates the global sales of gardening tools to expand from nearly 280,000 ‘000 units in 2017 to surpass 300,000 ‘000 units by 2025-end. People in developed economies consider home improvement and small maintenance activities as a favorable

All 5 Releases

More Releases for Europe

Synthetic Biology Market – Europe
Synthetic Biology Market Europe is expected to reach USD XX Billion by 2026 from USD XX Billion in 2016 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report). Synthetic biology has expanded into various interdisciplinary fields that may be defined as the combination of artificial design and engineering to produce biological systems, chemicals or living organisms. Synthetic biology is also used for improving applications
Europe Wooden Doors Market
Europe Wooden Doors Market This report studies the Wooden Doorsmarket status and outlook of Europe and major countries, from angles of players, countries, product types and end industries; this report analyzes the top players in Europe and major countries, and splits the Wooden Doors market by product type and applications/end industries. The global Wooden Doors market is valued at XX million USD in 2018 and is expected to reach XX million
Europe Radiotherapy Market
The Europe Radiotherapy Market research report consists of a primary and secondary research along with an in-depth analysis of the quantitative and qualitative aspects by the expert industry analysts and professionals, leading management bodies, to gain a profound insight of the industry as well as the industry performance. The Europe Radiotherapy Market report presents a lucid picture of the current industry landscape, including the historical and projected market size, based
Europe Business Assembly
The Europe Business Assembly (EBA) is an international corporation for the evolution and implementation of economic and social development. The company was established in April 2000 and its history shows a plethora of promising initiatives, creative growth and professional victories. EBA’s activity demonstrates the capabilities and power of professional partnership. The year 2000 saw the beginning and the foundation of EBA with the signing of the memorandum of cooperation and
Smartsourcing in Eastern Europe
In 2008 the outsourcing business of Eastern Europe was estimated at nearly $2 billion, representing just a tiny fraction of the global IT outsourcing market, estimated at about $386 billion. According to the Gartner Dataquest predictions, in the next four years Eastern Europe is expected to outstrip the rest of the offshore market concentrated mainly in the “classical” locations like India. By 2010 Eastern Europe’s IT outsourcing market share is
Home Control conquers Europe
European Home Control Summit attracts participation from leading International companies and organizations 29. February 2008 - Copenhagen/Frankfurt - The first European Wireless Home Control Summit on 9 April 2008, taking place parallel to Light + Building, features leading companies such as Merten, Horstmann, Danfoss, and market researcher Parks Associates as well as publicly funded organizations like the Danish Energy Saving Trust (DEST) presenting the newest trends, products and market strategies pertaining