Global Train And Components Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
8 Apr, 2021
The train and components market consists of sales of trains and components and related services by entities (organizations, sole traders and partnerships) that produce and rebuild locomotives, locomotive frames and parts, railroad, street, and rapid transit cars and car equipment for operation on rails for freight and passenger service, and/or rail layers, ballast distributors, rail tamping equipment and other railway track maintenance equipment.
Global Train And Components Market Size And Drivers:
The global train and components market is expected to grow from $196.5 billion in 2020 to $209.7 billion in 2021 at a compound annual growth rate (CAGR) of 6.%. The market is expected to reach $286. billion in 2025 at a CAGR of 8%. Economic growth and a rapidly growing urban population is expected to increase the demand for new train and components manufacturing during the forecast period.
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Trends In The Global Train And Components Market
Locomotive parts manufacturers are using nose suspension drivers as they reduce the shock loads due to tensile coupling between motor shaft and axle. Nose suspension drive is a mechanism used in electric railcars, which supports half of the weight of the traction motor by wheel axle made of metal and the rest by a bogie frame. The electric motor when integrated with nose mounted traction motor reduces the shock and vibrations caused due to irregularity in the track.
Global Train And Components Market Segments:
The global train and components market is further segmented based on type and geography.
By Type: Parts & Accessories For Railway Vehicles, Locomotives, Wagons, & Other Rolling Stock.
Subsegments Covered: Train Motors, Train Wheels, Train Doors, Train Bogies, Train Brake System, Other Parts & Accessories For Railway Vehicles.
By Geography: The global train and components market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global train and components market, accounting for 41% of the total market.
Read More On The Report For The Global Train And Components Market At:https://www.thebusinessresearchcompany.com/report/train-and-components-global-market-report-2020-30-covid-19-impact-and-recovery
Train And Components Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides train and components market overviews, analyzes and forecasts market size and growth for the global train and components market, train and components market share, train and components market players, train and components market segments and geographies, train and components market’s leading competitors’ revenues, profiles and market shares. The train and components market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.