Switch Point Heating System Market Size, Competitive Strategic Insights, Business Trends, Swot Analysis Forecasts By 2029 – Thermon, SAN Electro Heat, Eltherm GmbH
The switch point is a mechanical connection on railway tracks that are used to guide the wheels toward straight or diverging tracks. Whereas the switch point heating system is a device installed on railway tracks to meltdown the snow and ice that gets accumulated between the tracks. This heating system plays a crucial role in avoiding accidental situations, such as locomotive derailing. To facilitate efficient performance, the switch point heating systems utilize various methods, including electric heating, liquid heating, and gas heating. Presently, electric heating is one of the most popular methods used in the switch point heating systems. Accumulation of snow on railway tracks is one of the biggest challenges confronted by the railway authorities in several regions as it can derail the locomotive resulting in fatal accidents. In January 2010, in Scotland, a freight train derailed pass the Carrbridge railway station. Adverse environmental conditions like extreme snowfall increase the risk of rail accidents as ice accumulates between the rail tracks, thus urging the demand for switch point heating systems. As per the statistical data reported by the Transportation Safety Board of Canada (TSB), non-main-track accidents, excluding accidents while crossing the railway tracks and those caused due to the presence of trespassers were to the tune of more than 77% of the total number of rail accidents reported in Canada in 2015.
According to the Organization for Economic Co-operation and Development (OECD), the total freight transport in units accounted for around 22.8 million in 2013 and 24.9 million in 2017. In line with the increasing trade activities and mounting pressure on the current transportation infrastructure, the governments of different countries have started investing heavily to strengthen the railway transport infrastructure. The inland transport system in the Western countries witnessed a surge in the investment by 42% in 2015. Similarly, the U.K. government invested 57% more amount than in 2015. In the same year, India, China, and the U.S. upped investments by 31%, 18%, and 38% respectively.
The galvanized steel type segment, owing to the property that ensures minimal fire damage, outshines other type segments. Hot-dip galvanized steel protects itself from corrosion for a hundred years. Besides, features such as lower cost, excellent resistance to mechanical damage, long life expectancy, and less maintenance are accelerating the segment’s growth.
North America is witnessing significant growth in the global switch point heating system market backed by a rapidly developing rail industry, especially in the U.S. and Canada. In tandem with this, governments of these countries are investing huge capital in building, maintaining, and expanding the rail networks. Several countries in North America are deploying heating systems to circumvent any potential delays or accidents.
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The Major Prominent Players Covered in this Report:
Thermon, SAN Electro Heat, Eltherm GmbH, PINTSCH GMBH, NVent (Erico), Thermal-Flex Systems, Inc., Huikeshoven BV, GrayBar Ltd., HEAT TRACE, and Caloplex GmbH.
By Type, Galvanized steel, Chrome Nickel Steel, Others, By Application, Trains, Subways, Others
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Switch Point Heating System in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Switch Point Heating System market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Switch Point Heating System and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Switch Point Heating System. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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Key Questions Answered in The Report:
What will the Switch Point Heating System market growth rate?
What are the key factors driving the global Switch Point Heating System market?
Who are the key manufacturers in the Switch Point Heating System market space?
What are the market opportunities, market risk, and market overview of the Switch Point Heating System market?
What are sales, revenue, and price analysis of top manufacturers of the Switch Point Heating System market?
Who are the distributors, traders, and dealers of the Switch Point Heating System market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Switch Point Heating System Industry?
What are sales, revenue, and price analysis by regions of Switch Point Heating System industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
Key Switch Point Heating System Market Trends:
- The report identifies, determines, and forecasts the Global Switch Point Heating System Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Switch Point Heating System Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Switch Point Heating System Market.
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