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Railway Wheelsets Market Size, Trends & Forecasts | Valuates Reports
Railway Wheelsets Market SizeThe global market for Railway Wheelsets was valued at US$ 3441 million in the year 2024 and is projected to reach a revised size of US$ 4481 million by 2031, growing at a CAGR of 3.9% during the forecast period.
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According to the data of China Association of Metros, by the end of 2022, 55 cities in mainland China have opened urban rail transit and 308 operating lines. The total length of operating lines is 10287.45 km, ranking first in the world and accounting for 26.2% of the total global mileage. 1080.63 km of new operating lines were added in 2022. By the end of 2022, 545 cities in 78 countries and regions will have opened urban rail transit, with more than 41,386.12 km of operational mileage. Compared to 2021, the total mileage of urban rail transit worldwide would increase by 4,531.92 km, an increase of 11.0%, of which 1,293.45 km of subway mileage, 788.11 km of light rail mileage and 2,450.36 km of tram mileage would increase, accounting for 28.5%, 17.4% and 54.1% of the total increase respectively.
By Type
• Power Wheelsets
• Non-powered Wheelsets
By Application
• Intercity Rail Transit
• Urban Rail Transit
• Harvesters
Key Companies
NIPPON STEEL, Railway Wheelset&Brake Ltd, Jiangsu Railteco Equipment, Lucchini RS S.p.A., Liberty Ostrava as, CAF, GHH-BONATRANS, ArcelorMittal Engineering Products Ostrava Ltd, Zhiqi Railway Equipment
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