Global Train And Components Market Overview And Prospects
Learn about the global train and components market through The Business Research Company, which provides information on train and components market size, train and components market drivers and restraints, train and components market players, the COVID-19 impact on the train and components market, and more.
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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 growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. 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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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 Segments Include:
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 market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the global train and components market, accounting for 41% of the market in 2020.
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.
TBRC’s train and components market report covers:
Major Market Players: CRRC, Siemens, Alstom, Bombardier, GE Transportation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Train And Components Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides train and components market overviews, analyses and forecasts market size, share, train and components market players, train and components market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s train and components market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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