VALLEY COTTAGE, New York, November 26, 2018
VALLEY COTTAGE, New York, November 26, 2018 /PRNewswire/ --
With briskly swelling railway infrastructure worldwide and solar powered trains being subjected to an expanding fleet each year, the demand for rail gangways is observing a steady growth trajectory in recent years. While digitalization face lifting the conventional railway technology, the criticality of installing high quality rail gangways is being highlighted on the other hand owing to a large number of railways projects that are currently in the pipeline.
Railway ministries of several countries are entering international strategic tie-ups. Led by Western Europe, the global market for rail gangways also observes impressive growth in China and North America, as these markets host maximum number of rail production plants. However, FMI identifies highest growth potential in South East Asia and Pacific (SEAP) that represents the fastest growing rail network at present.
Rail gangway sales in Eastern Europe and Latin America also reflect high growth, according to the report. Chinese and Western European markets for rail gangways are witnessing robust growth due to an expanding high-speed rail network, coupled with strong government efforts that are being invested in rail electrification. Rail gangways market in North America, China, Russia, and Mexico is particularly thriving due to excellent prospects for solar powered, metro, and high-speed trains.
By H2 2019, the global revenue through sales of rail gangways will exceed US$ 400 Mn, according to a new study published by Future Market Insights. Over 175,000 units of two piece rail gangways are likely to be sold by 2019, which currently hold around 80% share of the market revenue.
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Key Insights Drawn from Competition Landscape Analysis
As reported in a new market intelligence study by Future Market Insights, the global rail gangways landscape is gradually approaching consolidation. While a number of strategic mergers and acquisitions have already been shaping the growth of competitive landscape, a majority of leaders in manufacturing of rail gangways are prominently focusing on empowering their presence in developing economies of SEAP, China, and Latin America.
In addition to delivering high quality, advanced technology rail gangways, manufacturers are strategizing price point optimization for enhanced market presence. In an effort to achieve stability, manufacturers of rail gangways are entering long-term contractual partnerships with end users and refocusing their attention to offering application-specific rail gangways.
Rail Gangways Installation in Passenger Trains Gradually Losing Market Share to Growing Popularity of Special and High-speed Trains
As indicated by the train type analysis of rail gangways, passenger trains currently account for more than half of the total market revenue. However, with rapidly escalating popularity of high-speed and special trains, it is most likely that passenger trains will lose a significant value share to the latter two in the near future. Although installation of rail gangways in passenger trains is poised for a moderate year on year revenue growth in 2019, FMI identifies impressive growth opportunities for rail gangways manufacturers in metro and high speed train projects.
Rail Gangways Market Segmentation By Product Type- Single Piece Rail Gangways, Two Piece Rail Gangways; Material Type-Steel Rail Gangways, Aluminium Rail Gangways, Alloys Rail Gangways, Composites Rail Gangways; Train Type-Passenger train, Metro/Subway train, High speed train, Special train: https://www.futuremarketinsights.com/reports/rail-gangways-market
High-speed Trains to Attract Promising Avenues for Composite and Alloy Usage in Rail Gangways Manufacturing
Material-wise, aluminum and steel are witnessing higher growth with a growing fleet of rolling stock, whereas composites are pegged for the highest year on year growth in the next couple of years. With over 1/3rd share of the total market revenue, steel remains the second most favored material type for manufacturing of rail gangways. Adoption of aluminum will be maximum among rail gangways manufacturers owing to increasing demand for lightweight and fuel efficient trains.
FMI report indicates that more than half of the total rail gangways market value belongs to aluminum. It also points to significantly growing potential of alloy and composite materials in high-speed trains, and throws light on how the higher price point may remain a limiting factor for rapidly soaring sales of these two material segments in the market.
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Security and Safety Grabs the Limelight, Manufacturers Invest in Innovative Rail Gangways
A paradigm shift to passenger safety and security has been driving immense innovation in rail gangways manufacturing. Using fire-resistant materials for manufacturing rail gangway doors is a popularly growing trend in the current market scenario prominently targeting frequently occurring fire accidents. Germany-based Schliess- und Sicherungssysteme GmbH recently launched an anti-fire interior door that offers a safety feature for prevention of fire spread to both passengers and rail carriages.
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