Selbyville, Delaware, Feb. 05, 2020 (GLOBE NEWSWIRE) --
According to latest report “Rail Aftermarket Industry by Subsystem (Traction & Propulsion, Bogies/Wheelsets & Suspension, Body Structures, Braking Systems, Auxiliary Systems, Rail Tracks & Equipment), Product (Rail Infrastructure, Rolling Stock [Metro, High Speed Rail, Light Rail & Trams, Locomotives, Passenger Wagons, Freight Wagons]), Service Provider (OEM, Railway Operators, Third Party/Component Suppliers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the industry valuation of rail aftermarket will cross $131 billion by 2026. Growing demand for preventive and corrective maintenance measures coupled with periodic system overhauling of railways will boost the industry outlook.
Shifting preference of rail operators towards advanced maintenance of technical systems is propelling the rail aftermarket size over the study timeframe. Railway malfunctions and breakdowns of railway tracks results in inconvenience of commuters and higher financial losses. Automation and real time monitoring are providing key information related to rail tracks to predict future maintenance decisions.
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Metro rail extension projects targeted towards introduction of new metro trains and core rail systems will provide potential opportunities for the rail aftermarket industry expansion. For instance, in November 2019, Government of New South Wales (NSW) finalized the contract with Northwest Rapid Transit (NRT) consortium for extending Sydney Metro rail project in Australia. The contract included an allocation of USD 1.3 billion for the operation and maintenance of North West and City and Southwest lines till 2034.
Third party/component suppliers are expected to hold around 20% revenue share till 2026. Component suppliers are expanding their product portfolio with latest technologies including big data and advanced analytics solutions. For instance, in March 2017, Knorr-Bremse Group deployed OpenText Analytics to enable condition based maintenance and intelligent fleet management. These services will enable the early detection of potential failures, further escalating the preventive maintenance measures.
Latin America rail aftermarket will generate around USD 7 billion by 2026. Increasing rail passenger and freight transportation is inducing the demand for upgrading railway infrastructure across the region. For instance, in Jan-Feb 2018, Mexican rail freight traffic reached 20.9 million tons, with an increase of 7% as compared with same period in 2017. Overhauling and rail line expansion projects across the region will spur the regional demand for repair and replacement parts during the projected timeframe.
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Some major findings of the rail aftermarket industry report include:
- Metro Rail systems are gaining higher visibility owing to large passenger carrying capacity with relatively lower energy consumption and pollution levels.
- Railway electrification is providing significant growth opportunities for installation and upgradation of traction systems.
- Component suppliers are seeking new business opportunities with the introduction of digital solutions.
- Advanced analytics is leveraging condition-based maintenance for increasing maintenance efficiency.
- Industry players are leveraging their capabilities to develop advanced data driven maintenance services.
Table of Contents (ToC) of the report:
Chapter 3. Rail Aftermarket Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.2. Manufacturers
3.3.3. Profit margin analysis
3.3.4. Service providers
3.3.5. Vendor matrix
3.4. Emerging maintenance ecosystem outlook
3.5. Technology landscape
3.5.1. Smart rail maintenance
3.6. Key railway industry statistics
3.6.1. Global railway network by country (kms)
3.6.2. Global rail infrastructure investments by country (USD Billion)
3.6.3. Global rail passenger transport, by country (million passenger-kilometers)
3.6.4. Global freight rail transport, by country (million tonne-kilometers)
3.7. Regulatory landscape
3.7.1. North America
3.7.2. Europe
3.7.3. APAC
3.7.4. LATAM
3.7.5. MEA
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.2. Industry pitfalls & challenges
3.9. Innovation and sustainability
3.10. Major global railway expansion and maintenance projects
3.11. Growth potential analysis
3.12. Porter's analysis
3.13. Competitive landscape, 2018
3.13.1. Company market share analysis, 2018
3.13.2. Key stake holders
3.13.3. Strategy dashboard
3.14. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/railway-aftermarket
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.