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Rail Gangways Market: Development in Rail Activities to Offer Lucrative Opportunities || Key Players: KTK Group, Qingdao Victall Railway Co., Ltd, Kasper Elektronik GmbH, Korea Railway Parts Co Ltd, and Vulcanite Pty Ltd.
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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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Two Piece Rail Gangways to Reign Supreme over the Counterpart
Based on the product type, two piece rail gangways are estimated to be valued at US$ 312.5 million by 2018-end, holding the highest value share of global rail gangways market. Single piece rail gangways, on the other hand, are projected to account for the lowest share of 30% of unit sales in the rail gangways market at global level.
With an estimated sales of 206,747 units by the end of 2028, aluminum rail gangways will witness maximum demand throughout the forecast period. In addition, manufactures are focusing on the development of steel rail gangways which are expected to create incremental $ opportunity worth around US$ 85.0 million. Further, the global demand for composite rail gangways is likely to grow at a remarkable rate during 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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