Press release
Rising Demand for High-Speed Rail Transport Drives Growth in the Fishplate Market: Key Factor Driving The Growth In The Railway Fishplate Market
Railway Fishplate Market Size
What Is the Expected Railway Fishplate Market Size During the Forecast Period?
The railway fishplate market, with a value of $4.62 billion in 2024, is expected to reach $4.85 billion in 2025, reflecting a CAGR of 4.9%. The market's growth is driven by rising demand for rail infrastructure, increasing investments in railway upgrades and expansions, urbanization, government initiatives, and the increasing use of fishplates in track maintenance and repair.
The railway fishplate market is expected to reach $5.79 billion by 2029, growing at a CAGR of 4.5%. The growth is attributed to the rising demand for high-speed rail networks, enhanced focus on railway safety standards, growth in railway electrification, increased freight transportation, and the demand for sustainable transport solutions. Trends include the use of high-strength materials, advancements in manufacturing, development of lightweight designs, smart technology adoption, and improvements in corrosion resistance.
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What Are the High-Growth Segments in the Railway Fishplate Market?
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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What Key Drivers Are Expected to Influence Future Railway Fishplate Market Growth?
The growth in high-speed rail transport is projected to enhance the railway fishplate market. High-speed rail requires specialized track connections, with fishplates ensuring safety and track alignment. In January 2024, Eurostar International Ltd. reported transporting 18.6 million passengers in 2023, up 22% from 2022. This rise in high-speed rail traffic boosts demand for railway fishplates.
Which Companies Hold the Largest Share Across Different Railway Fishplate Market Segments?
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 Trends Are Driving Growth in The Railway Fishplate Market?
Companies in the railway fishplate market are setting up new facilities to manufacture insulated rail joints, meeting the growing demand for advanced infrastructure solutions. These joints provide electrical isolation between rail segments. In February 2023, L.B. Foster, a US-based rail infrastructure company, opened a facility in Juiz de Fora, Brazil, to produce bonded insulated rail joints, which are crucial for the safe and reliable operation of rail networks.
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What Are the Emerging Geographies for The Railway Fishplate Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Railway Fishplate Market?
2. What is the CAGR expected in the Railway Fishplate Market?
3. What Are the Key Innovations Transforming the Railway Fishplate Industry?
4. Which Region Is Leading the Railway Fishplate Market?
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