Railway Ties Market Sales to Top US$ 19.3 Bn revenue by 2031

Railway Ties Market 2022

The global Railway Ties market was valued at US$ 10.6 Bn at the end of 2021 and to reach a revenue of US$ 19.3 Bn by the end of 2032. Sales of Railway Ties are slated to surge at a CAGR of around 5.7% from 2022 to 2032. Development of High-Speed Railway Tracks to Create Growth Opportunities for Manufacturers of Railway Ties: Persistence Market Research.

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Increasing investments in railway track expansion across regions is a key factor that is driving the demand for railway sleepers. Increasing number of metro projects & high speed railway projects are also expected to augment market across the world.

Since the last decade, the railway industry has been undergoing the most dramatic and disruptive technological breakthroughs. This has had a significant impact on all track components, including railway sleepers. Significant advancements in railway sleeper designs, techniques, and materials have been made to meet changing market requirements, address tough laws on fuel efficiency & carbon emissions, and to also remain competitive in the marketplace.

Key Companies-

• Kirchdorfer Group
• Patil Rail Infrastructure Private Limited
• The Indian Hume Pipe
• Railworks Corporation
• Axion Structural Innovations LLC
• IntegriCo Composites
• L.B. Foster Co.
• Vossloh AG
• PCM RAILONE AG
• Wegh Group Spa

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Key Takeaways from Market Study

• By material type, the wood segment is projected to hold a market share of around 50% by the end of 2032. However, the composite segment is expected to expand at a faster CAGR of 7.8% through 2032.

• The tangents segment is anticipated to hold the largest market share of around two-third, of track type.

• By line type, the main line (passenger and freight) segment is projected to create an absolute $ opportunity of nearly US$ 3.5 Bn by 2032.

• By region, North America is expected to account for the largest share of more than one-third by 2032.

• The U.S and China are projected to collectively register an absolute $ opportunity of nearly US$ 3 Bn over the decade.

"Government Initiatives & investments to expand railways infrastructure & high-speed railway networks are expected to drive demand for railway sleepers through the forecasted period," says a Persistence Market Research analyst.

Market Landscape

To enhance the durability of railway sleepers, manufacturers are involved in research activities to develop new products & materials and meet industry demand. Businesses have been increasing their footprint by opening additional operations to manufacture sustainable railway sleepers.

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Railway Ties Market - Report Highlights

• A detailed overview of parent market of Railway Ties Market
• Changing Railway Ties Market dynamics in the industry
• In-depth segmentation of Railway Ties Market
• Historical, current, and projected Railway Ties Market size regarding volume and value
• Recent industry trends and developments in Railway Ties Market
• Competitive landscape of Railway Ties Market
• Strategies for key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on Railway Ties Market performance
• Must-have information for Railway Ties Market players to sustain and enhance their market footprint

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