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Emerging Trends to Reshape the Railway Fishplate Market: Expansion Of Insulated Rail Joint Production as a Key Influencer
Railway Fishplate
Railway Fishplate Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the size of the railway fishplate market has seen steady growth. It is set to increase from $4.62 billion in 2024 to $4.85 billion in 2025, which marks a compound annual growth rate (CAGR) of 4.9%. This upward trajectory during the historical period is largely due to the escalating demand for rail infrastructure, augmented investments in upgrading and expanding railways, growing urbanization and transportation needs, substantial governmental initiatives, augmented usage of fishplates for track upkeep and restoration, alongside a rising demand for heavy-haul railways.
Railway Fishplate Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated steady growth is foreseen for the railway fishplate market in the coming years. The market is predicted to elevate to $5.79 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.5%. The expansion during the forecast period is driven by the growing requirement for high-speed rail networks, a heightened emphasis on boosting railway safety standards, increase in railway electrification projects, intensified freight transportation activities, and the surge in demand for environmentally-friendly and sustainable transportation. The forecast period is likely to witness trends like the utilization of high-strength materials, advancements in production techniques, creation of lighter designs, the employment of intelligent technologies, developments in corrosion resistance, and the blending of sustainable practices.
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What Are the Drivers Transforming the Railway Fishplate Market?
The rise of high-speed rail transport is anticipated to catalyze the expansion of the railway fishplate market in the future. High-speed rail transport comprises an engineered railway system built to function at significantly increased speeds when compared to traditional trains. These high-speed trains typically cruise at 250 km/h (155 mph) or even more on exclusive rails, with some systems pushing past 300 km/h (186 mph). To ensure safety at high speeds, these trains leverage cutting-edge propulsion, braking, and stability technologies. They operate on purpose-built tracks with minimal curves and grade crossings suitable for high velocities. Fishplates are an essential component to high-speed rail systems, as they securely connect and reinforce rail sections at junctions, securing smooth transitions and stability indispensable for high-speed travel. For instance, Eurostar International Ltd., a railway firm based in the UK, revealed in January 2024 that passenger numbers reached 18.6 million in 2023 on Eurostar, reflecting a 22% rise compared to 2022. Thus, the burgeoning high-speed rail transport is fueling the expansion of the railway fishplate market.
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What Long-Term Trends Will Define the Future of the Railway Fishplate Market?
Key players in the railway fishplate industry are establishing new production facilities to generate insulated rail joints, aiming to accommodate the increasing need for advanced railway infrastructure solutions. These novel establishments concentrate on creating top-grade insulated rail joints which are crucial for electrically isolating one railway segment from another. For example, L.B. Foster, a US firm adept in providing rail and infrastructure commodities and services, inaugurated a new segment in Juiz de Fora, Brazil, for the fabrication of bonded insulated rail joints in February 2023. This newly established segment is committed to fabricating high-quality bonded insulated rail joints that are crucial for the secure and dependable functioning of the rail systems. The fabrication process consists of segmenting the steel rail, inserting an insulating entity (Kevlar) amid the halves, and sealing the components with robust epoxy.
Which Segments in the Railway Fishplate Market Offer the Most Profit Potential?
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 Firms Dominate the Railway Fishplate Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in 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.
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