Press release
Demand For Railcar Track Pans Is Projected To Reach By More Than Us$ 4 Mn By 2031-End
As per a revised report published by Fact.MR - a market research and competitive intelligence provider, the global railcar spill containment market is anticipated to exceed a valuation of US$ 22,510 '000 by 2021, and expand at an impressive CAGR of 5% over the forecast period of 2021 to 2031.The market is in its growth phase, registering annual growth of 1.6% during 2016 - 2020. Fact.MR anticipates significant potential in the market, owing to factors such as growing oil & gas industries and rising demand for avoiding leakages
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Key Companies Profiled
Eagle Manufacturing
Enpac
Complete Environmental Product
The Century Group
Ultra tech International
Safe Rack
Basic Concepts Inc.
Pactec
Safe Harbor Access Systems
Polystar Containment
Aldon Company Inc.
GEI Works
Clean It Up
Key Takeaways from Market Study
Railcar track pans are expected to remain the most attractive and are likely to witness an absolute dollar opportunity of US$ 10,210 '000 during 2021 - 2031.
Based on material, fiberglass composites are anticipated to be the most lucrative with growth of 5.7 CAGR.
Based on material, demand for reinforced concrete-based railcar spill containment is expected to grow 1.5X during the projection period.
Together, North America and Europe represented close to 60% of overall market share in 2020.
The market in East Asia is expected to lose 87 BPS from 2021 to 2031, and emerge as a market valued at US$ 5,400 '000 Mn by 2031.
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Fragmented Market
The railcar spill containment market has been witnessing several acquisitions and mergers. Many new manufacturers have entered the business in addition to companies that are already working in this vertical. Spending on R&D is being done to launch new technologies into the market. Presence of numerous players makes the landscape quite fragmented.
In 2020, the Century Group partnered with a chemical company in the U.S. for the installation of railcar track pans. These pans were installed in railroads for loading chemicals.
In 2018, Eagle Manufacturing was acquired by Justrite Safety Group. This acquisition will lead the company's strategy to better serve customers of industrial safety products, including rail car spill containment.
Market Segments Covered in Railcar Spill Containment Industry Analysis
By Product
Railcar Track Pans
Railcar Track Berms
Railcar Containment Mats
By Material
Fibreglass Railcar Track Pans
Reinforced Concrete Railcar Track Berms
Aluminium
Stainless Steel
Galvanised Steel
Polyethylene
Poly Vinyl Chloride
By End Use
Railcar Spill Containment for Power Plants
Railcar Spill Containment Oil & Gas Industries
Railcar Spill Containment Petrochemical Industries
Railcar Spill Containment Others Industries
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The Railcar Spill Containment report offers insights to several qualitative and quantitative aspects of the growth dynamics to inform and guide stakeholders in effective strategy-making. The following insights cover some of the more important aspects:
Key drivers, impediments, and winning imperatives for top players
Prevailing technology trends globally
Ongoing research and development activities in various regions and their role on the revenue potential of Railcar Spill Containment
New business models
Collaborations, partnerships, mergers and acquisitions
Key strategies being adopted by top players
Entry barriers and intensity of competition in the Railcar Spill Containment
Size of opportunities in different key regional markets
Region-wise assessment of potential opportunities during the forecast period
Key Points Covered in Railcar Spill Containment Industry Survey:
Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
COVID-19 Impact on Railcar Spill Containment and How to Navigate
Recommendation on Key Winning Strategies
How can Fact.MR Make Difference?
In-depth understanding of key industry trends shaping the present growth dynamics
Offers value chain analysis and price trend analysis of various offering of competitors
Offers data-drive decision to help companies decide strategies that need recalibration
Offers insights into areas in research and development that should attract
Identifies data outliers before your competitors
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https://www.newswire.co.kr/newsRead.php?no=943298
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