Press release
Railway Fishplate Industry Growth Outlook: 4.1% CAGR and $5.62 Billion by 2029
Railway Fishplate Market Size
What Is the Long-Term Growth Forecast for the Railway Fishplate Market Size 2025?
The market scale of the railway fishplate has experienced consistent growth in the past few years. From 2024 to 2025, it is projected to expand from $4.62 billion to $4.79 billion, exhibiting a compound annual growth rate (CAGR) of 3.6%. This growth during the historic period is a result of factors such as heightened demand for rail infrastructure, escalated investments in upgrades and enhancement of railroads, increasing urbanization and means of transport, government policies in favor, expanded use of fishplates in track upkeep and fix, along with increased demand for heavy-haul railway networks.
What CAGR is Forecasted for the Railway Fishplate Market Through 2029?
Expectations point to a consistent uptick in the railway fishplate market size over the next several years. The market will expand to $5.62 billion by 2029, with a compound annual growth rate (CAGR) of 4.1%. This predicted growth during the forecasted period is primarily due to an escalating demand for high-speed rail networks, an intensifying focus on improving railway safety standards, an upsurge in railway electrification projects, a boost in freight transportation activities, and an increasing demand for sustainable and eco-friendly transportation. Notable trends during this predicted period include the usage of high-strength materials, advancements in manufacturing methods, the creation of lightweight designs, the application of smart technologies, improvements in corrosion resistance, and the incorporation of sustainable practices.
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What Are the Critical Factors Driving Railway Fishplate Market Development?
The growth of the railway fishplate market is anticipated to be fuelled by the escalating utilization of high-speed rail transport. High-speed rail systems, which are engineered to function at much greater speeds than traditional trains, usually operate at speeds exceeding 250 km/h (155 mph) on designated rails, and some even surpass 300 km/h (186 mph). Equipped with sophisticated propulsion, braking, and stability methods, these trains ensure safe travel at high speeds. Specially constructed tracks having minimal curves and grade crossings are a prerequisite for these high-speed trains. In the case of these tracks, fishplates contribute to high-speed rails' utility by reinforcing the rail segments at conjunctions, hence ensuring seamless transitions and stability crucial for high-speed locomotion. For instance, Eurostar International Ltd., a railway company based in the UK recorded a 22% hike from 2022's figure, transporting 18.6 million passengers responsibly in 2023. Hence, the railway fishplate market is witnessing substantial growth owing to the increment in high-speed rail transport.
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How Does the Railway Fishplate Market Break Down Across Major Segments?
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
What Are the Major Trends Transforming the Railway Fishplate Industry?
Key players in the railway fishplate market are expanding their operations by establishing new production facilities dedicated to the creation of insulated rail joints. This is in response to the escalating demand for sophisticated railway infrastructure systems. These novel establishments primarily concentrate on fabricating top-tier insulated rail joints which play a critical role in electrical segregation between rail segments. For instance, L.B. Foster, a leading American firm renowned for rail and infrastructure products and services, inaugurated a new production facility in Juiz de Fora, Brazil, in February 2023. This facility is specifically intended for the manufacture of high-performance bonded insulated rail joints which are paramount for a safe and dependable functioning of rail networks. The production process entails slicing steel rail into segments, inserting an insulating material, or Kevlar, between the halves, and securely bonding the units using robust epoxy.
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Which Players Are Driving Innovation 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
Which Regions Are Driving Global Railway Fishplate Market Expansion?
North America was the largest region in the railway fishplate market in 2024. 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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