Press release
Western Europe to be at the Forefront of Global Rail Gangways Market || Key Players:KTK Group, Qingdao Victall Railway Co., Ltd, Kasper Elektronik GmbH, Korea Railway Parts Co Ltd, and Vulcanite Pty Ltd.
The global rail gangways market is expected to be valued at US$ 392.8 million in 2018, expanding at a significant CAGR of 4.9% over the forecast period (2018-2028). Rising investments in railway developments and upcoming metro rail projects are likely to complement future expansion of the market which has been foreseen to attain a value of US$ 634.0 million by 2028-end. Further, the rail gangways market is anticipated to create incremental $ opportunity worth US$ 241.3 million throughout the assessment period.
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High Speed Railway Infrastructure and Digitalization in Metro Generating Opportunities for Rail Gangways Market
Sprawling railway infrastructure along with growing need for high speed rail transportation among middle-class population is expected to give a boost to the growth of rail gangways market globally.
Introduction of government schemes for enhancing connectivity between cities through the development of high speed train infrastructure and incorporation of digitalization in metro are the crucial factors to ramp up the growth of rail gangways market in the global scenario. Moreover, China is making large scale investments for improving the country’s rail sector which in turn is likely to create lucrative opportunities of manufactures of rail gangways.
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In terms of market value share, the global rail gangways market is expected to remain concentrated in Western Europe, followed by China which is likely to account for maximum share in term of sales during the forecast period of 2018-2028.
South East Asia & Pacific is estimated to project incremental $ opportunity worth nearly US$ 30.6 million, while rail gangways market in Latin America and Japan are anticipated to expand at an above average rate throughout the forecast period.
Global Rail Gangways Market Structure
Nature of the global rail gangways market is likely to remain consolidated, with leading players accounting for the highest market share. These players are expected to generate over US$ 50 million in revenue through the global sales of rail gangways.
Mid-sized companies operating in the global rail gangways market are projected to hold market share of 25% to 35%.
Some of the prominent players of the global rail gangways market are Hubner GmbH & Co. KG, Bellow and Bus (Pty) Ltd., Chongqing Hengtai Electromechanical Equipment Co., Ltd., Schliess- und Sicherungssysteme GmbH, Airflow Equipments (India) Pvt. Limited, ATG AUTOTECHNIK GmbH, Hutchinson, Dellner Couplers AB, Narita Mfg. Ltd., KTK Group, Qingdao Victall Railway Co., Ltd, Kasper Elektronik GmbH, Korea Railway Parts Co Ltd, and Vulcanite Pty Ltd.
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