The railway fishplate market has seen steady growth, increasing from $4.42 billion in 2023 to $4.62 billion in 2024, with a CAGR of 4.5%. This growth is attributed to rising investments in railway infrastructure and increasing urban transportation needs. By 2028, the market is expected to reach $5.54 billion, growing at a CAGR of 4.6%. Major trends include advancements in manufacturing techniques and the adoption of sustainable practices.
Major Driver In The Railway Fishplate Market
The railway fishplate market is anticipated to expand with the rise of high-speed rail transport. High-speed rail systems, which operate at speeds exceeding 250 km/h (155 mph), require specially designed tracks for stability and smooth transitions. Fishplates are critical for joining and reinforcing rail segments at junctions. Eurostar International Ltd. reported transporting 18.6 million passengers in 2023, marking a 22% increase from 2022. This growing interest in high-speed rail is propelling the railway fishplate market.
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Railway Fishplate Market Competitive Landscape
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
Key Railway Fishplate Market Trend
Companies in the railway fishplate market are responding to infrastructure demands with new facilities for producing insulated rail joints. In February 2023, L.B. Foster opened a facility in Brazil dedicated to manufacturing bonded insulated rail joints, ensuring electrical isolation between rail segments for safer rail network operations.
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Railway Fishplate Market Segmentation
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
By Geography:The regions covered in the railway fishplate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Railway Fishplate Global Market Report 2024 furnishes information about the global railway fishplate market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
