Global Rail Track Components Market – APAC to Dominate the Market Through 2022 | Technavio
LONDON–(BUSINESS WIRE)–#Construction–Technavio’s latest market research report on the global
rail track components market provides an analysis of the
most important trends expected to impact the market outlook from
2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global rail track components market
will grow at a CAGR of close to 10% during the forecast period.
The rising demand for rail logistics is a major factor driving the
market’s growth.
Rail transportation is becoming an ideal choice for various
manufacturers across various business segments. Vendors and
manufacturers prefer rail transportation over road transportation. This
trend can be attributed to infrastructure deficiencies, unstable fuel
prices, and driver shortage. Furthermore, government policies that
restrict the number of hours a driver can be on the road and limiting
the movement of heavy trucks during specific periods of the day are also
driving the demand for rail transportation.
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In this report, Technavio highlights regenerative braking energy as one
of the key emerging trends driving the global rail track components
market:
Regenerative braking energy
Electric railways worldwide are a fast and quiet means of transport when
compared with diesel powered trains. When a brake is applied in electric
trains, the energy of a moving train is lost. To capture the energy that
is lost during braking is an easy task, but to redistribute it
efficiently through the power grid is an arduous task. Research is being
conducted to efficiently capture and redistribute the energy lost during
braking by use of smart grids. In conventional electric trains, the
electrical energy produced during braking is fed to a third rail with
limited capacity.
“According to a senior analyst at Technavio for construction
research, “Pilot projects are under process in various parts of the
world, wherein the braking energy is captured using a battery storage
system. Apart from providing additional capacity, the banks of batteries
can efficiently feed it back to the regional power grid. This provides
extra electricity to grids falling short of power.”
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Global rail track components market segmentation
This market research report segments the global
rail track components market based on the different type of
products (rail sleepers, rail fasteners, and rail fishplates) and key
regions (the Americas, APAC, and EMEA).
In 2017, APAC accounted for the largest market share in the global rail
track components market, whereas the Americas and EMEA held the second
largest and the least share, respectively. APAC held a market share of
more than 39%, which is projected to increase by a further 2% by 2022.
The other two regions are expected to witness a small but steady decline
in their market shares over the forecast period.
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