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Railway Fishplate Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
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The expansion of high-speed rail transport is expected to drive the growth of the railway fishplate market. High-speed rail systems, designed to operate at speeds greater than 250 km/h (155 mph), require specialized infrastructure to ensure smooth transitions and stability. Fishplates are critical components for connecting rail segments and supporting high-speed rails. Eurostar International Ltd. reported a 22% increase in passengers in 2023, reflecting the growing popularity of high-speed rail and driving the need for railway fishplates.
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What is the projected compound annual growth rate (CAGR) of the railway fishplate market from 2025 to 2034, and what factors influence it?
The railway fishplate market has grown steadily in recent years. It is set to grow from $4.62 billion in 2024 to $4.85 billion in 2025, at a CAGR of 4.9%. The growth is due to increasing demand for rail infrastructure, greater investments in railway upgrades and expansions, urbanization, transportation needs, government initiatives, and the rising demand for fishplates in track maintenance.
The railway fishplate market will grow to $5.79 billion by 2029 with a CAGR of 4.5%. Factors contributing to this growth include rising demand for high-speed rail networks, the focus on railway safety, the expansion of electrification projects, increasing freight transport, and the desire for sustainable transportation. Trends include the use of high-strength materials, advancements in manufacturing, lightweight designs, smart technologies, and sustainable practices.
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How are the latest trends influencing the growth of the railway fishplate market?
Companies in the railway fishplate market are establishing new facilities to manufacture insulated rail joints to address the rising demand for advanced railway infrastructure. For example, L.B. Foster, a US-based rail infrastructure company, opened a new plant in Brazil in February 2023 to produce high-performance bonded insulated rail joints, crucial for safe and reliable rail network operations.
What are the major segments of the railway fishplate market and their role in driving growth?
The railway fishplate market covered in this report is segmented -
1) By Rail Joint Type: Common Rail Joint, Compromise Rail Joint, Insulated Rail Joint, Joggled Fish Plate
2) By Material Type: Steel Fishplates, Cast Iron Fishplates, Other Materials
3) By Rail Type: Heavy Rail, Light Rail
Subsegments:
1) By Common Rail Joint: Standard Fishplate, Heavy-Duty Fishplate, Light Rail Fishplate
2) By Compromise Rail Joint: Tapered Fishplate, Mismatched Rail Size Fishplate
3) By Insulated Rail Joint: Epoxy-Bonded Insulated Joint, Polyurethane-Bonded Insulated Joint, Glass-Reinforced Insulated Joint
4) By Joggled Fish Plate: Standard Joggled Fishplate, Customized Joggled Fishplate
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Which regions are key players in the growth of the railway fishplate market?
North America was the largest region in the railway fishplate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the railway fishplate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the railway fishplate market?
Major companies operating in the railway fishplate market are ArcelorMittal S.A., Voestalpine AG, Balfour Beatty plc, Progress Rail Services Corporation, Koppers Holdings Inc., Unipart Group Limited, L.B. Foster, Royal Infraconstru Ltd, Anyang General International Co. Ltd, Henry Williams Limited, Pandrol Limited, Schwihag AG, Monteferro USA Inc. LLC, Jiangsu Railteco Equipment Co. Ltd., Jekay International Track Pvt Ltd, Geismar SAS, Bhaskar Industries Pvt Ltd, LINSINGER Maschinenbau GmbH, Harmer Steel Products Company, Taicang Zhongbo Railway Fastening Co. Ltd., Techma Engineering Enterprise Private Limited, Shanghai Suyu Railway Material Co. Ltd., Surya Alloy Industries Limited, Linzhou Changda Railway Materials Co. Ltd., N. Mohanlal Railtrack Pvt. Ltd
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What Is Covered In The Railway Fishplate Global Market Report?
•Market Size Forecast: Examine the railway fishplate market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the railway fishplate market for a structured understanding.
•Key Players Overview: Analyze major players in the railway fishplate market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the railway fishplate market.
•Segment Contributions: Evaluate how different segments drive overall growth in the railway fishplate market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the railway fishplate market.
•Industry Challenges: Identify potential risks and obstacles affecting the railway fishplate market.
•Competitive Landscape: Review strategic developments in the railway fishplate market, including expansions, agreements, and new product launches.
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