Scope of the Study
Rail wheel is a type of wheel which is designed for use on rail tracks. It is made up of steel; along with it is typically heated and pressed onto the wheel. A rail wheel comprises three portions such as hub, web, and rim. There are various characterizes of rail wheels such as tensile strength, anti-thermal damage, and vibration resistance. Web portion needs to have enough mechanical strength so that it sustains heavy loads which are produced by the vehicle mass. Rising demand for locomotive transport and increase in rail transportation, are some of the major drivers which are propelling the growth of the market.
The market study is being classified by Type (Rolled Rail Wheel, Forged Rail Wheel and Others) and major geographies with country level break-up.
Amsted Rail (United States), Arrium Limited (Australia), Datong ABC Castings Company Limited (China), GHH Radsatz (Germany), Hegenscheidt-MFD (Germany), Interpipe (Ukraine), Jinxi Axle (China), Maanshan Iron & Steel (China), Nippon Steel & Sumitomo Metal Corporation (Japan) and Nolan (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are ORX (Switzerland), Rail Wheel Factory (India), Taiyuan Heavy Industry (China) and Xinyang Tonghe Wheels (China).
Research Analyst at AMA predicts that Asia Pacific Manufacturers will contribute to the maximum growth of Global Rail Wheel market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Rail Wheel market by Type, Application and Region.
On the basis of geography, the market of Rail Wheel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material, the sub-segment i.e. Alloy will boost the Rail Wheel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Unit Trains will boost the Rail Wheel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand for Locomotive Transport and Increase in Rail Transportation
- Growing Number Office Workers in the Developing Countries
- Increasing Urbanization and Changing Travel System across the world
- Growing Population in Metropolitan Areas
Market Trend
- Technology advancement in rail wheels
Restraints
- Volatility in Raw Material Prices for Manufacturing Rail Wheel Products
Challenges
- Maintaining a Balance between Performance, Cost, and Weight
On February 2017, the Interpipe Group (Ukraine) Company had announced to deliver an initial batch of 3 000 wheels to the Saudi Railways Organization. It covers the supply of more than 14 000 wagons with locomotive wheels of 838 mm, 920 mm and 1 046 mm diameter.
On January 2019, as per an article published by railjournal, the United States Department of Transportation (USDOT) is focusing on the expansion of rail lines in the Sonoma-Marin Area.
Key Target Audience
Raw Material Supplier, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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