Press release
Major Market Shift in Railway Fishplate Industry: Expansion Of Insulated Rail Joint Production
Railway Fishplate Market
The size of the railway fishplate market has steadily seen expansion over the past few years. With the projection of moving from $4.62 billion in 2024 to $4.85 billion in 2025 with a compound annual growth rate (CAGR) of 4.9%, it's evident growth in previous years can be linked to several factors. These include: a surge in the demand for rail infrastructure, increased investment in the enhancement and expansion of railways, growing urbanization and transportation needs, heightened government-driven initiatives, expanded usage of fishplates in the upkeep and repair of tracks, and an increasing demand for heavy-duty railways.
The market size of railway fishplates is anticipated to witness a consistent growth in the coming years, with projections estimating it to reach a value of $5.79 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.5%. The growth projected for this period is largely due to the surging demand for high-speed rail networks, increasing importance placed on improving railway safety standards, expansion of railway electrification projects, escalated freight transportation activities, and a growing demand for sustainable and eco-friendly modes of transportation. Noteworthy trends during the forecast period include the use of high-strength materials, progress in manufacturing techniques, the introduction of lighter weight designs, utilization of smart technologies, advancements in corrosion resistance, and the inclusion of sustainable practices.
What Factors Are Propelling the Expansion of the Railway Fishplate Market?
The escalating use of high-velocity railway transport is projected to drive the expansion of the railway fishplate market in the future. High-velocity railway transport refers to a unique railway system that is designed to function at a noticeably faster speed than the traditional trains. High-speed trains generally operate at 250 km/h (155 mph) or even higher on specific rails, with a few systems surpassing 300 km/h (186 mph). These trains harness cutting-edge traction, braking, and stability technology to ensure safety at high speeds. Specially built tracks with minimal curves and level crossings are needed for high-speed movement. Fishplates play a crucial role in high-speed railways by securely connecting and reinforcing rail sections at intersections, guaranteeing smooth shifting and stability vital for high-velocity transportation. For instance, Eurostar International Ltd., a railway company from the UK, informed that Eurostar carried 18.6 million passengers in 2023, indicating a 22% rise compared to 2022. Therefore, the escalating use of high-speed railway transport is fueling the expansion of the railway fishplate market.
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Which Businesses Are at the Forefront of Railway Fishplate Market Development?
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
What Are the Latest Innovations in the Railway Fishplate Market?
Leading corporations in the railway fishplate market are expanding with new manufacturing sites focused on creating insulated rail joints, responding to the escalating demand for advanced railway infrastructure technologies. These establishments are primarily aiming at offering top-tier insulated rail joints crucial for achieving electrical isolation amongst rail segments. For instance, L.B. Foster, a US-based firm known for its rail and infrastructure products and services, inaugurated a new Brazilian factory located in Juiz de Fora in February 2023. The factory's mission is the production of superior bonded insulated rail joints, indispensable for secure and reliable functioning of rail networks. The manufacturing methodology entails segmenting a steel rail, adding an insulating substance (Kevlar) amidst the segments, and bonding these elements using a high-integrity epoxy.
How Is the Railway Fishplate Market Segmented?
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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Where Is the Railway Fishplate Market Growth Most Prominent?
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.
What Is Covered In The Railway Fishplate Global Market Report?
- Market Size Analysis: Analyze the Railway Fishplate Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Railway Fishplate Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Railway Fishplate Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Railway Fishplate Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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