Future Market Insights delivers key insights into the global rail gangways market and procures key information through structured market research. The report titled “Rail Gangways Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028” highlights the historic and upcoming trends across the globe. As per the report insights, the market is anticipated to witness growing demand for rail gangways from the on-going rail infrastructure development along with the new construction of metro rails over the coming years. Rising need for rail gangways in the developing countries is estimated to fuel the global rail gangways market.
The global rail gangways market is estimated to be valued at US$ 392.8 Mn in the year 2018 growing with a 4.9% CAGR and is expected to reach US$ 634.0 Mn by the end of forecast period. Along with this, the Rail Gangways market is anticipated to project incremental $ opportunity worth US$ 241.3 Mn over the forecast period.
Global Rail Gangways Market Dynamics
Across the globe, rising investments for railways development and upcoming metro rail projects will act as a catalyst for the overall growth of the rail gangways market during the period of 2018-2028. Moreover, increasing development of rail activities in developing regions, such as China and SEA & pacific, are estimated to fuel the growth of the rail gangways market over the forecast period.
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Additionally, increase in the rolling stock is estimated to create lucrative growth opportunities for the suppliers of rail gangways over the forecast period. The increasing inclination of the consumers towards economical public transport via trains and metros is projected to fuel the demand for rail components such as the rail gangways over the forthcoming years in the global market. One of the prominent challenges faced by the rail gangways market is rising attractiveness of air transport coupled with the growth of automobiles for long and short trips.
Global Rail Gangways Market Forecast
The global rail gangways market insights suggest that the market is estimated to witness substantial growth during the forecast period
In terms of sales, China is estimated to account for major share in the global rail gangways market during the period of 2018-2028. In terms of market value share, Western Europe followed by China, is estimated to dominate the global rail gangways market. Furthermore, South East Asia & Pacific is estimated to create incremental $ opportunity around US$ 30.6 Mn in the global rail gangways market during the forecast period. Moreover, Japan and Latin America, is expected to grow at above average growth rate in the global rail gangways market over the forecast period.
On the basis of product type, the two piece gangways segment is estimated to account for a value of US$ 312.5 Mn by 2018 end. However, the single piece gangways segment is projected to account for a minor share of 30% of the market unit sales in the global rail gangways market during the forecast period.
By material type, the aluminum segment is projected to dominate the global rail gangways market. In terms of volume, the demand from aluminum segment is projected to be pegged at 206,747 Units by the end of 2028. Moreover, the steel material type segment is estimated to create incremental $ opportunity worth US$ 85.0 Mn in the global rail gangways market over the forecast period. The composite segment is expected to grow with remarkable growth rate in the global rail gangways market.
By train type, presently the passenger train segment is estimated to dominate the global market. However, with the rise in technology and innovation this passenger train segment will eventually lose its share to the high speed train segment by 2028. The high speed train segment is estimated to project a prominent incremental $ opportunity of US$ 52.2 Mn which represent around 22% in the global rail gangways market. The passenger train segment is estimated to be valued at US$ 340.9 by 2028 end in the global rail gangways market.
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Global Rail Gangways Market: Competitive Landscape
Some of the key players involved in the manufacturing of rail gangways and included in this study are Hübner Gmbh & Co. Kg, Hutchinson Paulstra, Narita Mfg., Ltd, Dellner Couplers Ab, Atg Autotechnik Gmbh, Schliess- und Sicherungssysteme GmbH, Chongqing Hengtai Electromechanical Equipment Co., Ltd., Airflow Equipments (India) Pvt. Limited